#United States #Class Action #Wilmington #Delaware Court #GORES Holdings

Recent Developments in the GORES Holdings IV Class Action Lawsuit

On May 19, 2025, Grant & Eisenhofer P.A. issued a significant announcement regarding a proposed class action lawsuit involving GORES Holdings IV, Inc., specifically targeting all record and beneficial holders of the Class A Common Stock of the company. This lawsuit pertains to individuals who purchased or held these securities between September 22, 2020, and January 21, 2021. This announcement comes as part of the ongoing litigation overseen by the Delaware Court of Chancery, which has already consolidated various related claims under C.A. No. 2023-0284-LWW.

Overview of the Lawsuit

The class action lawsuit, which has been preliminarily certified, is designated to ensure that shareholders can seek restitution. The announcement describes how plaintiffs have reached a proposed settlement of $17,500,000 that would be paid in cash, contingent on court approval. This sum is expected to resolve all claims brought forth in the ongoing legal action.

As outlined, the court order notifies all members of the class that their rights could be impacted by the outcome of this lawsuit. Importantly, this is not a solicitation for legal services but a formal notification authorized by the court per Delaware law.

Settlement Hearing Details

A critical settlement hearing is scheduled for July 15, 2025, at 1:30 PM, before Vice Chancellor Lori W. Will. The hearing will be conducted either in-person or remotely, depending on the court's discretion. During this hearing, several important aspects will be reviewed:

• - Final certification of the class for settlement purposes.
• - Ensuring plaintiffs and their counsel have effectively represented the class.
• - Assessment of whether the proposed settlement is fair and reasonable.

This hearing will also provide an opportunity for shareholders to voice any objections to the proposed settlement, the plan for allocating the settlement fund, and attorneys' fees, among other potential issues.

How to Participate in the Settlement

If you hold shares of GORES Holdings IV that meet the eligibility criteria, you are considered part of the affected class. Individuals need to be aware of their rights in this fundamentally significant action. For those who haven't received formal notice, statements are available through the settlement administrator, located at Gores IV Stockholder Litigation. The settlement website, www.GoresIVStockholderSettlement.com, offers additional resources, including downloads of necessary documents.

Should the court approve the proposed settlement, the distribution of the net settlement fund will occur, benefiting all eligible class members according to the court's approved allocation plan. Moreover, class members should note that by not opting out, they will be bound by the court's judgment.

Filing Objections

If shareholders wish to lodge any objections regarding the settlement, they must file these with the Register in Chancery, ensuring that they reach the proper channels no later than June 23, 2025, as instructed in the detailed notice.

For questions or further details, it is advised to contact the settlement administrator or plaintiffs' counsel rather than the court itself.

In conclusion, the announcement by Grant & Eisenhofer P.A. marks a pivotal moment for holders of GORES Holdings IV stock. Shareholders should carefully consider their participation in the proposed settlement and remain vigilant about upcoming dates and procedures.