Upcoming Settlement for Grab Holdings and AGC Investors

Overview of the Proposed Settlement for Grab Holdings Limited

Levi & Korsinsky, LLP and Pomerantz LLP have come together to announce an important development concerning the purchasers of Grab Holdings Limited securities and Altimeter Growth Corp. This proposed settlement is aimed at benefiting those who acquired these securities during a specified period. This article will highlight key details of the settlement and what it means for potential claimants.

Details of the Settlement

The United States District Court for the Southern District has granted approval for a proposed class action settlement regarding Grab Holdings (NASDAQ: GRAB) and Altimeter Growth Corp. (formerly NASDAQ: AGC). The settlement is notable for its substantial financial commitment, amounting to $80 million, set up to address the claims made within the class action lawsuit.

Eligible shareholders include all individuals and entities who purchased public shares of Grab, as well as those who exchanged AGC shares for Grab Class A Ordinary Shares based on the Proxy/Registration Statement filed with the SEC. Specifically, those who acquired these shares within the timeframe of August 2, 2021, to March 3, 2022, are encouraged to participate in the settlement.

Who is Included in the Settlement Class?

To clarify, the Settlement Class encompasses a variety of purchasers—specifically, those who:

• Purchased public shares in Grab, which includes those who exchanged AGC shares under the aforementioned registration document.
• Exchanged AGC shares for Grab Class A Ordinary Shares as stipulated in the registration.
• Acquired public Grab Class A Ordinary Shares within the specified time frame.

However, it is important to note that certain individuals are excluded from the Settlement Class. This includes defendants, their immediate families, current and former directors of Grab or AGC, and anyone who submitted a valid request to exclude themselves from the class action.

Financial Implications and Expected Recovery

The defendants in the case, which include notable figures associated with Grab, have agreed to establish an $80 million cash fund that is designed to cover eligible claims. This fund may accrue interest, enhancing the total distribution to class members. Based on estimates provided by Lead Plaintiffs and Co-Lead Counsel, should all affected shareholders participate, the expected average recovery per share could be around $0.1073 before any fees or expenses are deducted.

Settlement Hearing Details

A hearing to review and finalize the terms of the settlement is scheduled to take place soon. Interested parties should make a note of the date: May 15, 2025. This court session will discuss whether the settlement is fair, reasonable, and adequately addresses the claims made by shareholders. Participants are reminded that they need not attend this hearing to receive their distribution; however, it may be beneficial to stay informed about potential outcomes.

Important Dates and Actions Required of Claimants

For those who identify as members of the Settlement Class, timely action is crucial. You must submit a valid Claim Form by the stipulated deadline to be eligible for a share in the distribution of the Net Settlement Fund. The deadline for this submission is set for April 24, 2025. Failure to submit this form in time may hinder your ability to obtain any funds from the settlement, even if you are bound by the court's judgment.

If members of the Settlement Class wish to exclude themselves from these proceedings, they must also meet the same deadline for submitting their written requests. Proper exclusions will ensure that individuals remain unaffected by the court's ruling regarding the settlement.

Questions and Objections

Individuals who have objections regarding the proposed settlement or related fees must submit their concerns in writing, ensuring that these are received by the court and all involved parties by the April 24, 2025 deadline. All inquiries should be directed to the appropriate legal counsel. It is critical that members refrain from contacting the court, defendants, or their counsel regarding this notice.

Frequently Asked Questions

What is the purpose of the proposed settlement?

The proposed settlement aims to provide financial compensation to individuals who purchased securities of Grab Holdings Limited or Altimeter Growth Corp. during a specific timeframe.

When is the deadline to submit a Claim Form?

The Claim Form must be submitted by April 24, 2025, to be eligible for compensation from the settlement.

Who is considered a member of the Settlement Class?

Anyone who purchased or exchanged certain securities of Grab between specific dates is considered a member of the Settlement Class.

How much compensation can I expect?

Depending on participation, the estimated average recovery could be approximately $0.1073 per share, subject to deductions for fees and expenses.

How will objections to the settlement be handled?

Objections must be filed in writing and received by the court and opposing counsel by the deadline of April 24, 2025.

About The Author

Olivia Taylor here, a 26-year-old writer and financial advisor. After earning a degree in finance, I worked in the sector for years. I've always loved numbers and had a talent for simplifying difficult financial ideas so that anyone could understand. I wrote my first book because of this passion; it helps readers take charge of their financial futures by fusing real-life stories with useful financial advice.

Whether they are just beginning their careers, preparing for significant life events, or seeking to invest wisely, my goal with my writing is to enable people to make educated financial decisions. The foundation of my work is the conviction that security and freedom of the individual are largely determined by financial literacy. To further financial education, I run workshops and frequently write for financial blogs in addition to my books.

I like to travel, experience other cultures, and find inspiration in daily life when I'm not writing or examining market trends. My passion is utilizing sound financial practices to help people reach their financial objectives and lead the best lives possible.

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