Welcome to the PropTech Stockholder Litigation Settlement Website.
The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.
The Parties Have Reached a Proposed Settlement, Subject to Court Approval
The Parties have reached a proposed settlement of this action, captioned Wuchter v. Hennessy, et al., C.A. No. 2024-0596-MTZ, for a cash payment of $775,000 (the “Settlement”). The Settlement, if approved by the Court, will resolve all claims in this Action.
Your Rights in the Proposed Settlement
If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the proceeds of the Settlement, if it receives final Court approval. The Class certified by the Court for settlement purposes includes all record holders and beneficial holders of PropTech II’s common stock who held such stock during the time period from October 4, 2022, through November 29, 2022, except those excluded parties, as described below.
You are not a Class Member if you are Defendants, and any person, firm, trust, corporation, or other entity related to or affiliated with any of the Defendants.
Please read the Notice to fully understand your rights and options in this Settlement.
Payments to eligible Class Members will be made only after the Settlement and a Plan of Allocation are approved by the Court and any appeals are resolved. It is always uncertain whether these appeals can be resolved, and resolving them can take time, perhaps more than a year. Please be patient.
| YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT: | |
|---|---|
| RECEIVE A PAYMENT FROM THE SETTLEMENT. CLASS MEMBERS DO NOT NEED TO SUBMIT A CLAIM FORM. | If you are a member of the Settlement Class, you may be eligible to receive a pro rata distribution from the Settlement proceeds. Eligible Class Members do not need to submit a claim form in order to receive a distribution from the Settlement, if approved by the Court. If you are eligible for a distribution from the Settlement, it will be paid to you directly. |
| OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN NOVEMBER 6, 2025. | If you are a member of the Settlement Class and would like to object to the proposed Settlement, the proposed Plan of Allocation, or Plaintiff’s Counsel’s Fee and Expense Application, including Plaintiff’s application for Incentive Award, you may write to the Court and explain the reasons for your objection. |
| ATTEND A HEARING ON NOVEMBER 21 2025, AT 11:00 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN NOVEMBER 6, 2025. | Filing a written objection and notice of intention to appear that is received by November 6, 2025, allows you to speak in Court, at the discretion of the Court, about your objection. The Court will hold a Settlement Hearing on November 21, 2025, at 11:00 a.m. At this hearing the Court will consider whether the Settlement is fair, reasonable, and adequate. The Court will also decide how much to pay to Class Counsel, whether to approve an award to the Class Plaintiff, and whether to approve the Plan of Allocation. |