The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (the "Notice"). Because this website is just a summary, you should review the Notice for additional details.

Summary of the Action and Settlement

This website relates to a stockholder class action (the "Action”) brought in the Court of Chancery of the State of Delaware (the “Court”). (i) Plaintiff Andrew Saunders (“Plaintiff”), on behalf of himself and all other members of the Settlement Class (as defined in paragraph 26 of the Notice); and (ii) defendants Lee Einbinder, Howard Kurz, Robert Matza, Diane B. Glossman, and Aris Kekedjian (collectively, “Defendants” and together with Plaintiff, the “Parties”) have reached a settlement of the Action on the terms set forth in the Stipulation (“Settlement”).  Pursuant to the Settlement, Defendants have agreed to pay, or cause to be paid, $9,500,000 in total settlement value, with $6,725,000 paid in cash and the remaining $2,775,000 paid in either shares of freely-tradeable Katapult Holdings, Inc. (“Katapult”) common stock or additional cash (“Delaware Settlement Consideration”).

October 10, 2024, the Court held a hearing to consider final approval of the Settlement and entered an Order and Final Judgment finally approving the Settlement, approving the Plan of Allocation for the proceeds of the Settlement, and awarding attorney’s fees and litigation expenses.

If you are a member of the Settlement Class, you are subject to the Settlement. The non-opt-out Settlement Class certified by the Court consists of:

All record and beneficial holders of Class A common stock of FinServ as of the closing of the de-SPAC Transaction on June 9, 2021.

Excluded from the Settlement Class are (i) Katapult, Orlando Zayas, Karissa Cupito, Derek Medlin, Lee Einbinder, Howard Kurz, Robert Matza, Diane B. Glossman, Aris Kekedjian, and FinServ Holdings; (ii) any person who was an officer or director of FinServ Holdings or FinServ between November 5, 2019 and June 9, 2021; (iii) any person who was an officer or director of Katapult between May 18, 2021 and August 10, 2021; (iv) the immediate family members, meaning the parents, spouse, siblings, or children, of any of the foregoing persons; (v) any trusts, estates, entities, or accounts that held FinServ or Katapult shares for the benefit of the foregoing persons or entities; and (vi) the legal representatives, heirs, successors-in-interest, successors, transferees, and assigns of the foregoing persons or entities (each, an “Excluded Person” and, collectively, the “Excluded Persons”).

Eligible Class Members do not need to submit a claim form in order to receive a distribution from the Settlement. If you are eligible to receive a distribution from the Settlement, your distribution will be paid to you directly. See paragraphs 32-40 of the Notice for further discussion.

Please be patient. It will take some time to complete the Settlement distribution.

How do I obtain more information?

Detailed information about the Settlement is contained in the Notice, a copy of which can be found on the Important Documents page of this website. Additional information can also be obtained by contacting the Settlement Administrator by calling toll-free 844-552-0061, emailing info@FinServAcquisitionCorpSPACLitigation.com, or mailing a letter to:

FinServ Acquisition Corp. SPAC Litigation
c/o JND Legal Administration
PO Box 91493
Seattle, WA 98111

Inquiries should NOT be directed to the Court or the Clerk of the Court.