What is this Settlement about?
This website relates to a class action lawsuit (the “Action”) pending in the Court of Chancery of the State of Delaware (the “Court”) brought between the (i) Michael Farzad and Gregory Perri (the “Plaintiffs”), on behalf of themselves and the Class (as defined in the Notice); and Defendants Trasimene Capital FT, LP II (the “Founder”), Trasimene Capital Management, LLC (the “Sponsor”), William P. Foley, II, Richard N. Massey, Erika Meinhardt, Mark D. Linehan, and C. Malcolm Holland (the “Defendants”). Defendants deny all claims and allegations of wrongdoing alleged in the Settlement.
Collectively, the “Defendants,” and, together with Plaintiffs, the “Parties,” and each a “Party”) have reached a proposed settlement of the Action (the “Settlement”) for $59,500,000.00 (United States Dollars) in cash (the “Settlement Amount”). The proposed Settlement, if approved by the Court, will resolve all claims in the Action.
Who is included?
All Persons who held shares of FTAC II Class A common stock, who held such stock as of the Redemption Deadline (March 23, 2021), either of record or beneficially, and who were entitled to, but did not, redeem all of their shares, including their heirs and successors who obtained their shares by operation of law, but excluding: (i) Defendants, as well as the members of their immediate families, and any entity in which any of them has a controlling interest, and the legal representatives, heirs, successors, or assignees of any such excluded party; and (ii) any trusts, estates, entities, or accounts that held shares of FTAC II Class A or Class B common stock for the benefit of any of the foregoing.
Please note: The Class is a non-opt-out class pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2). Accordingly, Class Members do not have the right to exclude themselves from the Class.
How do I obtain more information?
Detailed information about the Settlement is contained in the Notice, a copy of which can be found in the Important Documents menu the top of this page. Additional information can also be obtained by contacting Plaintiffs’ Counsel:
Plaintiffs’ Counsel
Erik W. Luedeke Robbins Geller Rudman & Dowd LLP 655 W. Broadway, Suite 1900 San Diego, CA 92101
Gregory E. Del Gaizo Robbins LLP 5060 Shoreham Place, Suite 300 San Diego, CA 92122
PLEASE DO NOT CALL OR WRITE THE COURT
