#USA #Class Action #Wilmington #Stockholder Action #Big Rock Partners

Overview of the Summary Notice

On August 11, 2026, Levi & Korsinsky, LLP issued a summary notice regarding a significant class action lawsuit pending in the Delaware Court of Chancery. This summary serves to inform all record and beneficial holders of Big Rock Partners Acquisition Corporation's common stock as of the critical redemption date of June 8, 2021, who did not redeem their shares within the specified timeframe.

Background of the Case

The case at hand involves stockholders represented by Jacob Fulcher, a plaintiff who is taking action against several defendants associated with Big Rock Partners. Key figures in the lawsuit include corporate officers and financial firms tied to the company, who have been dubbed the “Big Rock Defendants”. The essence of this legal action revolves around allegations that merit further scrutiny under corporate governance and shareholder rights.

Proposed Settlement Details

A proposed settlement of $2,675,000 has been reached, aimed at resolving claims within the lawsuit. This settlement is crucial as it seeks to address the grievances of stockholders by compensating them for potential losses incurred through their non-redeemed shares. The settlement agreement will facilitate the disbursement of funds to eligible class members if sanctioned by the court during the upcoming hearing.

Settlement Hearing Schedule

A significant hearing has been scheduled for October 5, 2026, at 3:15 PM, where the court will deliberate on various approvals associated with the settlement. These include:

• - Final certification of the class for settlement purposes
• - The adequacy of representation provided by the plaintiff and their counsel
• - The fairness and reasonableness of the proposed settlement
• - Dismissal of claims against certain defendants

This hearing provides an opportunity for any class members wishing to voice concerns or objections regarding the proposed settlement terms.

Action Steps for Stockholders

Class members are encouraged to engage with the process actively. The rights of affected stockholders will depend significantly on the outcomes of the pending action and the proposed settlement. They may be entitled to share in the net settlement fund upon proper filing. To claim a share, members of the class must complete and submit a Claim Form by November 5, 2026.

Failure to submit this claim on time could result in losing the right to any portion of the settlement fund, although those who do not file will still be bound by the court's decision regarding the settlement.

How to Stay Updated

Class action members should keep an eye on the designated settlement website, www.BRPAStockholderSettlement.com, to obtain updates and important information regarding the settlement hearing. This includes changes to hearing logistics, updated submission guidelines for claims, and other essential notifications.

Conclusion

The summary notice reflects a crucial milestone for stockholders of Big Rock Partners Acquisition Corp., emphasizing the importance of understanding one’s rights and the implications of legal actions taken on behalf of shareholders. As the settlement hearing approaches, all class members must remain proactive in addressing their positions while ensuring adherence to relevant deadlines to protect their interests.