Hagens Berman Announces Settlement for Redwire Corporation Securities Class Action Claimants

Proposed Class Action Settlement for Redwire Corporation

Hagens Berman Sobol Shapiro LLP has announced that the U.S. District Court for the Middle District of Florida has approved a class action settlement that stands to benefit purchasers of securities of Redwire Corporation, previously known as Genesis Park Acquisition Corp. This settlement is aimed at all individuals and entities who bought or obtained Redwire Corporation common stock or convertible warrants during a specified period.

Background of the Settlement

Between March 25, 2021, and March 31, 2022, various financial instruments linked to Redwire Corporation and its predecessor were traded on the New York Stock Exchange. This includes common stock of both Redwire and Genesis Park Acquisition Corp as well as associated warrants and options. This settlement is crucial for investors who experienced losses during that time.

Eligibility and Notification

The approved settlement entails that all persons or entities which engaged in those transactions during the period mentioned are classified under the “Settlement Class”. Notably, the court has ordered a hearing scheduled for July 31, 2025, to evaluate whether the proposed cash settlement of $8 million is fair and justified. During this hearing, the court will also assess the allocation plan for distributing the settlement proceeds among affected investors.

What Claimants Need to Know

It is paramount for eligible class members to read the detailed notice regarding this settlement, as the outcomes could significantly affect their rights. Moreover, individuals interested in claiming part of the settlement are advised to submit a Claim Form by June 24, 2025. Failure to submit a claim will result in ineligibility to receive any settlements from the fund, although they will still be bound by the court’s decision on the class action.

How to File a Claim

Affected individuals can download the Notice of Pendency and Claim Form from the official settlement website at www.strategicclaims.net/redwire. Claimants can also contact the Claims Administrator for copies of the necessary documents by using the details provided in the announcement, ensuring they meet all deadline requirements.

Exclusion and Objections

If any member of the Settlement Class wishes to opt-out and not be part of the settlement, they have the right to request exclusion by submitting the necessary documents by July 10, 2025. This ensures that they will not be affected by the court's decision related to this action. Additionally, those with objections regarding the proposed settlement or the distribution plan must file their concerns with the court by the same date.

Conclusion

This class action settlement presents a significant opportunity for investors in Redwire Corporation. The upcoming hearing will clarify the steps for distribution and approval. Those affected should take immediate action to secure their rights and share of the settlement. For any inquiries, Hagens Berman Sobol Shapiro LLP has appointed lead counsel to oversee the process and to assist eligible claimants with their queries.