Cvent Holders Prepare for Proposed Settlement in Class Action Lawsuit

Proposed Settlement Notice for Cvent Holdings Corp.

On May 18, 2026, Labaton Keller Sucharow, LLP announced significant news concerning the stockholders of Cvent Holding Corp. A proposed settlement has been reached regarding a class action lawsuit for all record and beneficial holders of Cvent common stock as of June 15, 2023. This proposed resolution is notable as it offers a cash settlement amounting to $12 million for the affected shareholders.

Background of the Lawsuit

The class action lawsuit was initiated by the Genesee County Employees Retirement System on behalf of itself and similarly situated stockholders after Cvent was acquired by affiliates of Blackstone Inc. The key allegation in the lawsuit pertains to the acquisition terms, where shares were exchanged for $8.50 each in cash. Shareholders argue whether the terms of the deal were fair, leading to the brought claims against several parties, including Vista Equity Partners Management, LLC, and various affiliated funds.

Proposed Settlement Details

Under the terms of the settlement, if approved by the Delaware Court of Chancery, all claims against the defendants are expected to be resolved. The stipulated amount will be allocated to eligible Class Members based on a proposed Plan of Allocation detailed in the settlement agreement.

The court has set the Settlement Hearing date for July 10, 2026. The hearing will determine if the proposed settlement is fair and reasonable for all class members, and it will also address the allocation of funds and attorney fees. The hearing can be attended either in person or via remote means, with further details available at the provided settlement website.

Your Rights as a Stockholder

It's crucial for stockholders to understand that participating in the settlement means their rights are affected by the pending action. Eligible class members do not need to submit claims to benefit from the settlement, which will be distributed from the Net Settlement Fund to qualifying stockholders based on their holdings on June 15, 2023.

For those with questions regarding their eligibility or seeking to obtain more information regarding the settlement, they are encouraged to visit the settlement website or contact the Settlement Administrator directly. Submissions for objections to the settlement must be made by June 23, 2026.

This proposed settlement represents an essential development for stakeholders in Cvent, promising a possible resolution to the issues raised in the class action lawsuit. Investors are urged to stay informed about the hearing's outcomes and how they may impact their investments.