Hub Securities Class Action Settlement
Average estimated recovery of $0.12 per share of Hub common stock (before deduction of court-approved fees, expenses and costs)
Last verified July 13, 2026Source: claimdepotHow ClaimWatch verifies cases
Closed to new claims. Browse open settlements →
Where this case stands
Claims closed
Payments follow final court approval and the end of any appeals, typically twelve to twenty-four months after the claim deadline.
Pending in the United States District Court for the Southern District of New York (No. 1:23-cv-05764 (S.D.N.Y)).
- July 6, 2023Case filed
- August 4, 2026Preliminary approval
The court allowed notice of the proposed settlement to go out to the class.
What happened
Hub Securities and its executives allegedly violated federal securities laws by making materially false and misleading statements regarding a $50 million private investment facility, the strength of internal controls amid embezzlement by corporate insiders, and misrepresenting the company's financial status and product readiness. The defendants deny all allegations of wrongdoing.
Do you qualify?
Settlement Class includes holders of Mount Rainier or Legacy Hub securities converted to Hub Securities on March 1, 2023, and all persons who purchased Hub Securities in the open market from March 1, 2023 through July 31, 2023.
What the settlement pays
Average estimated recovery of $0.12 per share of Hub common stock (before deduction of court-approved fees, expenses and costs)
Paid from a $11M settlement fund. Individual amounts depend on how many valid claims are filed.
How to file
Class members should file a claim by visiting the settlement website or contacting Lead Counsel at Glancy Prongay & Murray LLP (310-201-9150, settlements@glancylaw.com) or Jacob Sabo, Esq. (++972-39070770, jsabo53@gmail.com). A deadline for claim submission is not specified on this page.
Common questions
- How much does the Hub Securities Class Action Settlement pay?
- Estimated payout: Average estimated recovery of $0.12 per share of Hub common stock (before deduction of court-approved fees, expenses and costs). The settlement fund is $11M.Why settlement checks are smaller than the headline number →
- What is the status of the Hub Securities Class Action Settlement?
- Claims closed. Payments follow final court approval and the end of any appeals, typically twelve to twenty-four months after the claim deadline.
- Is the Hub Securities Class Action Settlement notice real, or a scam?
- Claims are filed only at hubsecuritiessettlement.com. Filing is always free, and no administrator asks for payment or a full Social Security number by email or text.How to tell a real settlement notice from a scam →
- Who are the attorneys in the Hub Securities Class Action Settlement?
- For the plaintiffs: Casey E. Sadler (Glancy Prongay & Murray LLP); Jacob Sabo (Law offices of Jacob Sabo). From the public court docket.
Who's involved
Counsel for plaintiffs
Other cases these firms appear in
- Hilton Domestic Operating Company Personal Injury Class Action · Glancy Prongay & Murray LLP
- Viacom Archegos Securities Litigation Settlement · Glancy Prongay & Murray LLP
- Royal Bank of Canada Contract Class Action · Glancy Prongay & Murray LLP
- Yale New Haven Health System Contract Class Action · Glancy Prongay & Murray LLP
From the public court docket, contact details as filed; not an endorsement.
Guides:Why is my settlement check so small?How long a settlement takes to pay outIs this settlement notice real, or a scam?
Summarised from public settlement documents; confirm terms on the official settlement website. ClaimWatch is not a law firm, and filing a claim is free.