Marqeta $13 Million Securities Settlement

Buying an eligible security during the class period is not enough by itself. The proposed allocation plan has an additional holding requirement tied to the November 4, 2024 disclosure date.

• For stock and call options, the purchase or acquisition must have occurred during the class period and the position must still have been held when trading closed on November 4, 2024.
• For written put options, the option must have been written during the class period and still open when trading closed on November 4, 2024.
• Positions that do not meet those holding requirements have a recognized loss of zero under the proposed allocation plan.

There is no set payment per share or option. The claims administrator will calculate a recognized claim using the proposed allocation formula, then divide the net fund among authorized claimants based on the relative size of those recognized claims.

• Common stock bought during the class period and sold on or before November 4, 2024 has a recognized loss amount of zero.
• For eligible stock held past November 4, the calculation uses the $2.67 alleged inflation amount, the purchase and sale prices, and the 90-day lookback limits.
• Call-option and written put-option calculations use the option’s strike price and November 5, 2024 stock price, subject to the plan’s other rules.

Option claims may qualify under the plan, but the total money available for the two eligible option categories is capped. This can affect the eventual payment for an eligible call-option or written put-option claim.

• All eligible call-option and written put-option claims together are limited to 1% of the Net Settlement Fund.
• The notice says this limit reflects options’ approximate 1% share of total dollar trading volume during the class period.

Even a timely supported claim may not result in a payment. The proposed plan includes a minimum-payment rule and compares the recognized claim with the claimant’s overall market gain or loss.

• No payment is made if the calculated distribution amount is less than $10.
• The proposed plan also reduces a claim to zero if the claimant had an overall market gain in the covered securities during the class period.
• If overall market loss is smaller than the calculated recognized claim, the recognized claim is limited to that market loss.

Opting out means leaving the settlement class. It is different from simply not filing a claim. The notice gives detailed requirements for a valid exclusion request.

• An exclusion request must be in writing and received by December 22, 2026.
• It must provide contact information, identify the case, be signed, and list the number, type, dates, and prices of the covered transactions.
• Someone who opts out cannot receive money from this settlement, but is not bound as a class member by the settlement’s judgment.

You may object to the settlement, the allocation plan, or the requested attorney fees and expenses. An objection asks the Court to deny approval; it does not allow the Court to replace the proposed settlement with a different one.

• You must be a settlement class member and must not opt out.
• A written objection must be filed by December 22, 2026.
• The objection needs transaction documents sufficient to show class membership, along with the reasons and support for the objection.
• To ask to speak at the hearing, a notice of appearance is also due by January 5, 2027.

Not filing a claim is not the same as opting out. The notice says that class members who stay in the class can lose the right to bring the covered claims even if they do not receive a payment.

• If you do nothing, you will not be eligible for a payment.
• If you remain in the class and do not opt out, you will still be bound by the settlement and give up the released claims if the settlement receives final approval.
• The release covers claims based on the complaint’s allegations and the purchase, acquisition, or sale of Marqeta securities during the class period, with stated exceptions.

ERISA is a federal law covering many workplace benefit plans. The notice gives a separate instruction for people who held Marqeta securities through an ERISA-covered plan.

• Do not include transactions in Marqeta securities held through an ERISA plan in your personal Claim Form.
• Only securities purchased or acquired outside that ERISA plan should be included.
• Marqeta employee retirement and benefit plans are excluded from the settlement class.