PSAC - Pomerantz LLP and Wolf Haldenstein Adler Freeman & Herz LLP Announce Proposed Class Action Settlement on Behalf of Holders of Property Solutions Acquisition Corp. Class A Common Stock and Purchasers of Faraday Future Intelligent Electric Inc. Common Stock
LOS ANGELES, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP and Wolf Haldenstein Adler Freeman & Herz LLP announce that the United States District Court for the Central District of California has approved the following announcement of a proposed class action settlement that would benefit holders of Property Solutions Acquisition Corp. Class A common stock and purchasers of Faraday Future Intelligent Electric Inc. common stock (NASDAQ:PSAC) (NASDAQ:FFIE):
SUMMARY NOTICE
IF YOU (A) PURCHASED OR OTHERWISE ACQUIRED FARADAY SECURITIES BETWEEN JANUARY 28, 2021 AND APRIL 14, 2022, BOTH DATES INCLUSIVE (THE "SETTLEMENT CLASS PERIOD"), AND/OR (B) BENEFICIALLY OWNED AND/OR HELD THE CLASS A COMMON STOCK OF PROPERTY SOLUTIONS ACQUISITION CORP. ("PSAC") AS OF JUNE 21, 2021 AND WERE ELIGIBLE TO VOTE AT PSAC'S JULY 20, 2021 SPECIAL MEETING AND WERE ALLEGEDLY DAMAGED THEREBY (THE "SETTLEMENT CLASS"), YOU COULD RECEIVE A PAYMENT FROM A CLASS ACTION SETTLEMENT. CERTAIN PERSONS ARE EXCLUDED FROM THE DEFINITION OF THE CLASS AS SET FORTH IN THE STIPULATION OF SETTLEMENT.
PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS MAY BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN FEDERAL COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and by Order of the United States District Court for the Central District of California, that in the above-captioned litigation (the "Action"), a Settlement has been proposed for $7,500,000.00 in cash. A hearing will be ...