#USA #Seattle #Legal Notice #Settlement #Thoughtworks

Notice of Pendency and Proposed Settlement Regarding Thoughtworks Holdings, Inc.

Recent developments in the legal landscape surrounding Thoughtworks Holdings, Inc. have prompted a significant announcement from several law firms including Johnson Van Kwawegen LLP, Block & Leviton LLP, Labaton Keller Sucharow LLP, and Bernstein Litowitz Berger & Grossmann LLP. These firms have jointly disclosed a Notice of Pendency and Proposed Settlement that affects record holders and beneficial owners of Thoughtworks' common stock. This announcement comes following the company's acquisition by an investment group advised by Apax Partners LLP in November 2024.

Background of the Class Action

the lawsuit centers around the acquisition transaction where Thoughtworks shares were exchanged for $4.40 per share in cash. This action was certified as a class action by the Court of Chancery of Delaware, encompassing all shareholders affected by the decision. Lead Plaintiffs, which include the Genesee County Employees' Retirement System among others, represented the class in an effort to secure fair compensation for shareholders who felt disadvantaged by the acquisition's terms.

Proposed Settlement Details

the terms of the proposed settlement are as follows:

• - A total amount of $31 million, intended to resolve all claims made in the action.
• - If the settlement is approved, shareholders will receive compensation based on a pro rata basis from the Net Settlement Fund, calculated using the total number of eligible shares to ensure fairness.
• - Importantly, eligible shareholders will not need to submit a claim form to receive their payment, as the distribution will mirror the process employed during the original transaction.

The Settlement Hearing for this case is scheduled for December 7, 2026, where the Court will assess the fairness of the proposed settlement and address any potential objections. Shareholders holding stock in Thoughtworks are encouraged to stay informed about this hearing, as it directly influences their rights and potential compensations as members of the class.

Class Member Obligations

Eligible shareholders must be diligent in understanding their rights and may need to follow various guidelines set forth in the full notice available at established legal websites concerning the settlement. For those who have not received their notice, contact information for the Settlement Administrator is provided for accessing further information.

Next Steps for Participants

Class members wishing to express their views regarding the proposed settlement or its allocation plan must lodge their objections no later than November 12, 2026, with all required details available in the complete summary notice. This call to action is crucial for those who believe that their rights as class members require further attention or alterations in the proposed settlement.

In conclusion, this development marks a significant chapter for Thoughtworks shareholders amid ongoing negotiations related to their rights. The proposed $31 million settlement represents both a culmination of shareholder grievances and a turn towards potential resolution in the wake of corporate acquisition dynamics. For the latest information on the upcoming hearing and developments regarding the case, shareholders are directed to visit www.ThoughtworksStockholdersLitigation.com.

Stay tuned as we provide continued updates on this unfolding legal matter that affects the investor community directly, illustrating the complex interplay between corporate governance and shareholder rights.