Well, you'll get an amount proportional to the number of shares you purchased at IPO price, reduced by the value of either the price you sold it at or the price on the day the suit was filed as compared to similar numbers from everyone in the class.
It will drop if enough people file claims as members of the class to drop the total claims to be more than the pool of money in the settlement has apportioned. (Which is nearly guaranteed.) But even if 100% of IPO investors file, everyone will get *something*. (By my quick calculation, the "minimum" should be around $0.55 per share.)
TMI: This is similar to the Equifax settlement that was first publicized as "get 10 years of free credit monitoring or up to $250" but neglecting the fact that the settlement could only afford to pay a small fraction of the total cash cost if everyone claimed the cash. (To the point that if literally everyone claimed the cash, each person would only get a few cents, not $250.)
From what I can tell, the Arcimoto numbers aren't anywhere near that far off. The settlement is $2.4 million ($1.6 million of that is the "settlement pot" the rest is lawyer fees,) and it states that there are about 2.9 million eligible shares. But they expect that not everyone will file, and that some shares will have sold for enough for the "value back" to be less than other shares. They are expecting it to average 50 cents per share. (In theory if few enough people file, and you've held on to your stock the whole time, you could get up to $3.41 per share (the difference between the IPO price and the price the day the suit was filed.) Or if you happened to sell at the absolute low before suit filing date, up to $3.81 per share. If you sold after filing date, you can only claim a maximum difference of the price on filing date - so if you sold when it had dropped to $1.93 a share, it still only counts as $3.41 per share, not $4.57 per share. So if you happened to sell the stock when it was $6.49/share, you would get at most 1 cent per share, though. And if you sold during that brief window it was ABOVE the IPO price, you would get nothing at all.)
It will drop if enough people file claims as members of the class to drop the total claims to be more than the pool of money in the settlement has apportioned. (Which is nearly guaranteed.) But even if 100% of IPO investors file, everyone will get *something*. (By my quick calculation, the "minimum" should be around $0.55 per share.)
TMI: This is similar to the Equifax settlement that was first publicized as "get 10 years of free credit monitoring or up to $250" but neglecting the fact that the settlement could only afford to pay a small fraction of the total cash cost if everyone claimed the cash. (To the point that if literally everyone claimed the cash, each person would only get a few cents, not $250.)
From what I can tell, the Arcimoto numbers aren't anywhere near that far off. The settlement is $2.4 million ($1.6 million of that is the "settlement pot" the rest is lawyer fees,) and it states that there are about 2.9 million eligible shares. But they expect that not everyone will file, and that some shares will have sold for enough for the "value back" to be less than other shares. They are expecting it to average 50 cents per share. (In theory if few enough people file, and you've held on to your stock the whole time, you could get up to $3.41 per share (the difference between the IPO price and the price the day the suit was filed.) Or if you happened to sell at the absolute low before suit filing date, up to $3.81 per share. If you sold after filing date, you can only claim a maximum difference of the price on filing date - so if you sold when it had dropped to $1.93 a share, it still only counts as $3.41 per share, not $4.57 per share. So if you happened to sell the stock when it was $6.49/share, you would get at most 1 cent per share, though. And if you sold during that brief window it was ABOVE the IPO price, you would get nothing at all.)
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