If you bought certain Hub Cyber Security shares in 2023, this is worth a quick look.
A proposed $11,000,000 settlement could mean a cash payment for eligible investors, but you’ll need to file a claim to get it.
Why This Lawsuit Exists?
This class action lawsuit claims that Hub Cyber Security Ltd. made false or misleading statements and failed to disclose important risks to investors.
Specifically, the lawsuit alleges the company:
Misrepresented investor commitments in a $50 million PIPE facility
Failed to disclose issues with internal controls, including alleged insider embezzlement
Misled investors about the market readiness of its flagship product
According to the complaint, these issues inflated the company’s stock price, which later dropped when the truth came out. Hub denies any wrongdoing, but agreed to settle to avoid ongoing legal costs and delays.
Who Qualifies?
You may be included if you:
Purchased or acquired Hub Cyber Security Ltd. common stock
between March 1, 2023 and July 31, 2023, ORReceived shares through the business combination with Mount Rainier Acquisition Corp. around March 1, 2023
And were financially impacted (damaged)
✔ Both individuals and entities can file
✔ Separate accounts/entities must submit separate claims
How Much Can You Get?
The settlement fund totals $11,000,000, but individual payouts vary.
Your payment depends on:
How many shares you bought or acquired
When you bought and sold them
Your calculated “recognized loss”
The total number of valid claims filed
Estimated payout:
About $0.12 per share (before deductions)
Important notes:
Payments are pro rata (your share of the total fund)
If your calculated payment is less than $10, you won’t receive a payout
Final amounts may be higher or lower
Your Options
| Option | What It Means | Deadline |
|---|---|---|
| Submit a Claim | Get a payment if eligible | May 13, 2026 |
| Do Nothing | No payment, give up rights | — |
| Exclude Yourself | Keep your right to sue separately | June 1, 2026 |
| Object | Stay in case but اعتراض terms | Before approval hearing |
How to File a Claim?
Filing is straightforward, but you’ll need documentation.
Step-by-step:
Complete a claim form (online or by mail)
Provide:
Last 4 digits of SSN or full taxpayer ID
Transaction details (dates, shares, prices)
Upload or include proof, such as:
Broker statements
Trade confirmations
Financial account records
Mail claims to:
In Re Hub Cyber Security Ltd. Securities Litigation
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson St., Ste. 205
Media, PA 19063
