Settlement Announced in AMCI Acquisition Corporation Stockholder Litigation

Proposed Settlement in AMCI Acquisition Corporation Stockholders Litigation

In a significant development for AMCI Acquisition Corporation shareholders, a settlement has been proposed in the ongoing stockholder litigation. This action, presided over by the Court of Chancery of the State of Delaware, involves the plaintiffs Will A. Schara, Jr. and Gonul Schara against several defendants including Nimesh Patel and Brian Beem.

Details of the Litigation

The litigation, identified as C.A. No. 2024-0505-PAF, has reached a critical juncture where parties involved have preliminarily agreed on a settlement amounting to $425,000 in cash. This proposed settlement is intended for all holders of AMCI Class A common stock who were part of the Class during the specified period. Importantly, this litigation is not just a routine legal procedure; it is a significant step towards addressing shareholder grievances and ensuring accountability among corporate executives.

Settlement Hearing Scheduled

The hearing to discuss this proposed settlement is scheduled for January 20, 2026, at 1:30 PM. This hearing will be conducted in person at the Court's location in Wilmington, Delaware, but the court may also allow remote participation via telephone or videoconference. During this session, various critical assessments will take place, including the final certification of the Class and the adequacy of representation provided by the plaintiffs.

Objectives of the Hearing

At the hearing, the Court will review:
1. Final Certification of the Class: Determining whether the plaintiff class should receive final certification for settlement.
2. Representation Adequacy: Evaluating if the plaintiffs and their counsel adequately represent the class and should be formally appointed as class representatives.
3. Fairness of the Settlement: Making a determination if the settlement proposal is fair and in the best interests of all class members.
4. Dismissal of Action: Considering if the action should be dismissed with prejudice, allowing for the terms of the settlement to be fully enacted.
5. Allocation of Settlement Fund: Assessing the proposed Plan of Allocation for the Settlement Fund, which outlines how the settlement amount will be distributed among class members.

Implications for Class Members

This proposed settlement holds potential benefits for the class, as it may provide them with a share of the settlement fund. It is crucial for class members, which comprises those who owned shares during the class period, to note that their rights could be substantially impacted by the court's decision. They are encouraged to familiarize themselves with the proceedings and their potential entitlements under the settlement terms.

Communication Channels

For any queries regarding the settlement, class members are advised to avoid contacting the court directly. Instead, they should reach out to the Settlement Administrator at (833) 583-6375. Additionally, further information and updates related to the upcoming hearing or settlement procedures can be accessed at www.AMCIStockholdersLitigation.com.

In conclusion, while this proposed settlement marks progress in resolving the claims against AMCI executives, it is essential for affected shareholders to stay informed and actively participate in the process. The outcome of the settlement hearing on January 20 will set the stage for how the grievances of AMCI shareholders will be addressed moving forward.