Proposed Settlement in the PropTech Investment Corporation II Stockholder Litigation Announced

Overview of the Proposed Settlement in the PropTech II Litigation

The Court of Chancery in the State of Delaware announced a proposed settlement in the stockholder litigation concerning the PropTech Investment Corporation II, now known as Appreciate Holdings, Inc. This significant development follows a series of claims against multiple defendants related to management actions impacting shareholders from October to November 2022.

Background of the Case

The litigation was initiated by plaintiff Mark J. Wuchter, representing himself and other affected stockholders, against the management team and board members of PropTech II. The case emerged amid allegations that the defendants may have failed to fulfill their fiduciary duties, leading to a compromise of shareholder interests.

Terms of the Settlement

The proposed settlement, totaling $775,000, aims to resolve all claims associated with the litigation. According to the preliminary terms, if approved, the settlement fund will be distributed to eligible stockholders on a pro-rata basis. This means each shareholder’s compensation will be contingent on the number of shares they held during the relevant period, divided by the total eligible shares.

Details of the Settlement Hearing

A hearing is set for November 21, 2025, at 11:00 AM before Vice Chancellor Morgan T. Zurn. During this session, the court will consider various matters, such as:
1. Whether to certify the settlement class,
2. The adequacy of the plaintiff’s representation,
3. The fair and reasonable nature of the settlement,
4. Proposed attorney fees and any incentive awards for the plaintiff.

The outcome of this hearing will determine whether the proposed settlement is finalized and, if approved, how the funds will be allocated among class members.

Importance of Participation

For current and past stockholders of PropTech II who held shares during the specified timeframe (October 4, 2022, to November 29, 2022), it is crucial to follow updates regarding the pending settlement. Notably, those affected are not required to submit a claim form to receive their share of the settlement.

For further information, affected shareholders are encouraged to visit the official settlement website at www.PropTechIIStockholdersLitigation.com to access detailed notices and updates.

Conclusion

This proposed settlement represents a pivotal turning point for stockholders who have been engaged in this litigation. It underscores the ongoing commitment to shareholder rights and accountability among corporate leadership. Stakeholders are advised to remain informed and to participate in the upcoming settlement hearing, which promises to address several vital issues concerning the resolution of this case.