Settlement Announcement for GigaCloud Technology Inc Shareholders

Author: Olivia Taylor Updated: 07-21-2025 09:06 AM

Overview of the Proposed Settlement

Recently, the United States District Court for the Southern District of New York announced the approval of a proposed class action settlement that is set to benefit purchasers of Class A ordinary shares of GigaCloud Technology Inc (GCT). This proposed settlement is a significant step for those who may have been affected during the specified period.

Settlement Details

The settlement amount has been set at $2,750,000. This figure represents an essential milestone for the plaintiffs who purchased shares from August 18, 2022, to May 22, 2024, and allegedly suffered damages during this class period.

Eligibility for the Settlement Class

To be eligible for benefits under this settlement, affected individuals must have purchased Class A ordinary shares of GigaCloud during the designated time frame. The court has classified these purchasers as the Settlement Class, and they are hereby informed about the implications of this proposed settlement.

Settlement Hearing Information

A hearing is scheduled on October 9, 2025, at 3:30 PM, where the court will determine if the proposed settlement is fair, reasonable, and adequate for all class members. Attendees can join the hearing remotely, and details will be provided ahead of the date. Participation is recommended but not mandatory for the receipt of settlement funds.

How to File a Claim

For those wishing to participate in the allocation of the Net Settlement Fund, a Claim Form must be postmarked or submitted online no later than October 6, 2025. It’s crucial that claims are submitted on time to ensure eligibility.

Exclusion and Objections Process

If any member of the Settlement Class wishes to exclude themselves, they must submit a written request following the specific instructions laid out in the Notice. Requests for exclusion must be received by the designated cutoff date. Additionally, there is an opportunity for individuals to object to the settlement, the Fee and Expense Application, or the proposed Plan of Allocation by submitting their written objections to the court.

Contact Information for Questions

Inquiries regarding the status of a claim, or other relevant questions, can be directed to the Claims Administrator. Contact details are readily available, and they are equipped to provide necessary assistance.

Conclusion

In conclusion, this proposed settlement provides an opportunity for eligible shareholders of GigaCloud Technology Inc (GCT) to receive compensation for their losses during the specified period. Shareholders are advised to stay informed about the settlement process and adhere to deadlines to maximize their potential recovery.

Frequently Asked Questions

What is the proposed settlement amount for GigaCloud Technology Inc?

The proposed settlement amount is $2,750,000.

What are the key dates for submitting claims?

The Claim Form must be submitted or postmarked no later than October 6, 2025.

When is the settlement hearing scheduled?

The settlement hearing is scheduled for October 9, 2025, at 3:30 PM.

How can I exclude myself from the Settlement Class?

You can exclude yourself by submitting a written request according to the specific guidelines outlined in the Notification.

Who should I contact for more information?

Contact the Claims Administrator or Co-Lead Counsel for assistance with your inquiries regarding the settlement process.

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.

Contact Olivia Taylor privately here. Or send an email with ATTN: Olivia Taylor as the subject to contact@investorshangout.com.

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