Velodyne Securities Litigation

If you purchased the publicly traded securities of Velodyne Lidar, Inc. between July 2, 2020, and March 17, 2021, inclusive (the “Class”), you may be entitled to a payment from a class action settlement.

The Court held a Settlement Hearing on August 16, 2024, and approved the Settlement. The Settlement provides a gross amount of $27,500,000, plus interest earned thereon, if any, minus attorneys’ fees, costs, administrative expenses, and taxes, (the “Net Settlement Fund”).  The Net Settlement Fund will be distributed to pay claims of eligible claimants.

If you are a member of the Class, in order to be potentially eligible to receive a payment from the proposed Settlement, you must submit a Claim Form no later than September 11, 2024. Payments will be made to eligible Class Members who timely submit valid Claim Forms, if the Court approves the Settlement and after the Court awards attorneys’ fees and expenses, and any appeals are resolved. Please be patient.

The Frequently Asked Questions page of this website has more information on your rights as a Settlement Class Member in this Action.

If you are a member of the Class, your legal rights will be affected whether you act or do not act. If you do not act, and you are a member of the Settlement Class, you will permanently forfeit your right to recover on any claim you might have in the Action. Therefore, you should read the Notice carefully.

Your Legal Rights and Options in This Settlement

Submit a Claim Form By: September 11, 2024	The only way to get a payment. Proof of Claim must be postmarked (if mailed) or submitted online no later than September 11, 2024.
Object By: July 26, 2024	Write about why you do not like the Settlement, the Plan of Allocation, or the Fee and Expense Application. If you object, you will still be a member of the Class. Objections must be mailed or delivered to Lead Counsel and Defendants’ Counsel no later than July 26, 2024.
File A Notice Of Intention To Appear At Hearing By July 26, 2024	You may ask the Court for permission to speak at the Settlement Hearing by submitting a statement that you, or your attorney, intend to appear by July 26, 2024.
Attend the Settlement Hearing on August 16, 2024, at 10:00 a.m. PST	The Court will hold the Settlement Hearing on August 16, 2024, at 10:00 a.m. PST, either in person at the United States District Court for the Northern District of California, San Francisco Division, Phillip Burton Federal Building & United States Courthouse – Courtroom 1, 17th Floor, 450 Golden Gate Avenue, San Francisco, CA 94102, or at another location or via telephonic or video appearance as determined by the Court.
Exclude Yourself from the Settlement Class By: July 26, 2024	Get no payment. This is the only option that, assuming your claim is timely brought, might allow you to ever bring or be part of any other lawsuit against the Defendants and the other Released Defendant Parties concerning the Released Claims. Requests for Exclusion must be received no later than July 26, 2024.
Do Nothing	Get no payment. Give up your rights.