A $17.75 million settlement has been reached in a class action lawsuit against Experience Sponsor LLC and former directors/officers of Experience Investment Corp. (EIC). If you held EIC Class A common stock between September 17, 2019, and May 3, 2021, and didn’t redeem all or some of your shares in the merger with Blade Urban Air Mobility Inc. (now Strata Critical Medical Inc.), you may qualify for a cash payout.
Here’s a quick breakdown so you can see if this affects you—and how to act fast.
Why This Lawsuit Happened?
The lawsuit alleged that EIC’s directors, officers, and sponsor failed to give shareholders all the material information needed to make informed decisions about redeeming shares in the merger.
Plaintiffs argued that misleading statements and omissions caused shareholders who didn’t redeem their shares to hold stock at artificially inflated values.
Defendants denied any wrongdoing but agreed to settle to avoid the risks, costs, and delays of litigation.
Who Qualifies?
You may be part of the settlement class if you:
Were a record or beneficial holder of EIC Class A common stock anytime between Sept. 17, 2019, and May 3, 2021.
Continued to hold your shares as of 5 p.m. ET on May 3, 2021.
Did not redeem all or part of your shares in connection with the merger.
Additional points:
Both individuals and entities can claim.
Shares held through brokers or nominees count.
Executors, trustees, or guardians can file on behalf of others with proper documentation.
How Much You Can Get?
The total settlement fund is $17,750,000, distributed pro rata based on:
Number of valid claims submitted
Number of eligible shares held as of May 3, 2021
Timing of share sales and holdings through July 15, 2024
Key details:
Shares sold after May 3, 2021, and before May 7, 2021, below $10.07 → recognized loss = $10.07 − sale price + $0.10
Shares sold between May 7, 2021, and July 15, 2024, below $10.07 → recognized loss = $10.07 − sale price + $0.10
Shares still held on July 15, 2024 → recognized loss = $6.69 per share
No payout if calculated payment is less than $10
Your Options
| Option | What It Means | Deadline |
|---|---|---|
| Submit a Claim | Request your cash payout. Must provide documentation of stock holdings, transactions, and Social Security/Tax ID info. | May 18, 2026 |
| Do Nothing | Automatically receive nothing (but still bound by released claims). | N/A |
| Opt Out | Keep the right to sue separately; receive no settlement benefits. | March 3, 2026 |
| Object / Attend Hearing | Tell the Court why you disagree with the settlement. | March 3, 2026 |
| Fairness Hearing | Court will decide if settlement is fair and approve distribution. | April 17, 2026 |
How to File Your Claim?
Gather your proof:
Broker confirmation slips or account statements
Authorized broker letters with transaction info
Last 4 digits of SSN or full taxpayer ID
Submit online or download and mail the PDF claim form:
Mailing Address:
EIC Stockholder Litigation
c/o A.B. Data Ltd.
P.O. Box 173007
Milwaukee, WI 53217
Deadline: May 18, 2026
Payout Options: Check or electronic payment
Don’t wait—the deadline to file a claim is May 18, 2026. Even a few shares could earn you a meaningful payout.
