Hub Cyber Security Ltd.‘s $11 million investor settlement earned a federal judge’s preliminary approval to end allegations of misstatements about embezzlement claims.
Judge Arun Subramanian of the US District Court for the Southern District of New York preliminarily approved the deal Wednesday, initially certifying a settlement class of those who acquired Hub securities pursuant or traceable to its blank-check merger paperwork—covering a period of March 1, 2023, through July 31, 2023.
The parties’ agreement, which followed mediation, is the result of good faith arm’s length negotiations, the investor plaintiffs told court in a filing seeking the court’s approval.
The ...
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