Quarterly Update via webinar Today Aug 14

[SparkE]

f*ck the lawyers

[gregbinahurry]

The payout is 50 cents per share maximum, depending on total claims. $2.5 million total paid by Arcimoto, 1/3 to the lawyers, the rest to shareholders who bought during IPO who opt in (not including Arcimoto's own legal fees.)

You can see all the documents at http://arcimotosecuritieslitigation.com

So if we do not put in a claim does that help Arcimoto or does everyone else's share get larger?

[CharonPDX]

So if we do not put in a claim does that help Arcimoto or does everyone else's share get larger?

Everyone else's share gets larger, since presumably enough people will claim so as to drive it below the maximum.  In most class-actions, if there is less money claimed than is in the fund, the extra goes to a nonprofit either stipulated in the suit/settlement, or chosen by either the defendant or the plaintiff. I haven't dug in this settlement to see if that is specified.

It almost certainly would not go back to the company, though.

[Rickb]

I received class action settlement forms in the mail today and decided not to take part in the class action settlement. I expect my long term investment in $FUV will payoff in the long term. My only reason for investing was to help generate the support needed for the AMP, equipment, and the move to retail production and that’s exactly what the funds were used for. Go Arcimoto!

[CharonPDX]

Participate. You lose nothing by choosing to participate, there is no "black mark" that Arcimoto makes against you for opting in. You just get some cash that would otherwise either be spread out to other investors or given away. Arcimoto doesn't get any of it back.

Heck, use it to buy more Arcimoto stock!

[gregbinahurry]

Participate. You lose nothing by choosing to participate, there is no "black mark" that Arcimoto makes against you for opting in.  You just get some cash that would otherwise either be spread out to other investors or given away.  Arcimoto doesn't get any of it back.

Heck, use it to buy more Arcimoto stock!

I agree.  It just makes me angry that the vultures can sweep in and steal 2.45 million from a company that is struggling to get started.  Our legal system really sucks sometimes.

[Rickb]

Even if you choose to participate, the form states there is no guarantee you will receive any settlement funds. I simply don’t want my name associated with the class action against Arcimoto (in any way) as a long term investor supporting the company. I knew the risk when I bought into the original funding round and had no intention of purchasing additional $FUV now or then. However, I do intend to purchase a FUV.

NOTE: The ‘above the law’ vultures are in control. We need to fix that.

[CharonPDX]

Eh, again, your name is already "associated" as someone who is considered "part of the class." If you want "maximum separation" you need to file the paper that specifically *REMOVES* you from the class. (Which also allows you to sue separately if you want.)

I bought 100 shares in IPO, I've bought multiple hundred shares since. I'm going to accept the settlement, and use it to buy more shares - specifically if Arcimoto offers another public stock release, rather than open-market.

[ricschug]

The fewer folks that file means that the jerks that started the legal action will get more money so the more to join the less the culprits will get. I don't like it but no matter what since AM decided to settle they will have to pay the bucks regardless so I say lets dilute the payout as much as possible. I will join.

[Rickb]

The information I received indicated $.50 a share MAX with no guarantee of getting anything.