The proposed $26,500,000 settlement covers people who held PowerSchool Holdings common stock at the October 1, 2024 closing of the Bain-led acquisition and received $22.80 per share. Eligible class members receive a pro rata distribution directly, and no claim form is required. The court has not yet approved it.
Benefit Summary
Eligible PowerSchool stockholders: Qualifying holders of shares exchanged for cash at the October 1, 2024 closing, subject to the exclusions below.
Your payment depends on how many eligible shares you held. The amount left in the fund is divided by all eligible shares, and that per-share amount is multiplied by your share count. No claim form is needed.
The $26.5 million fund earns interest. Taxes, administration costs, legal fees and other court-approved expenses are deducted before shareholders are paid. Distribution must wait for court approval, the settlement to take effect and any appeals to finish.
Available Awards
Based on share count
Who Is Included
The settlement covers PowerSchool common shares held when the acquisition closed on October 1, 2024 and exchanged for $22.80 each in cash. It includes people who owned shares through a broker and those who held them directly, along with qualifying legal representatives, heirs, successors, transferees and assignees. Excluded are the defendants; people who are, or were at closing, officers, directors or partners of PowerSchool, Vista Equity Partners Management, Onex or Bain Capital Private Equity; their immediate families; and trusts, estates, entities or accounts holding shares for their benefit. The exclusion also extends to their legal representatives, heirs, successors, transferees and assigns. Notice paragraph 19 gives the full definition.
- Proof required: No claim form is required. Payments use existing shareholding records. Separate proof of membership is required if you object to the settlement; see the objection instructions.
Claim and Payment Information
- Claim method: Automatic payment
- Instructions: You do not need to file a claim. Payment should follow the same route as your acquisition payment, including your brokerage account if that is how you received the $22.80 per share. Contact A.B. Data at 877-777-9248 or [email protected] if you have questions.
Questions & Answers
How much might I receive per share?
The notice illustrates about $0.44 per eligible share before deductions, using approximately 60.2 million shares. That is not the final payment rate. Taxes, administration and court-approved fees and expenses reduce the amount available. Your payment is your eligible share count multiplied by the final rate.
How will the payment reach me?
If the acquisition money went into your brokerage account, your broker is responsible for depositing the settlement money into that same account. Eligible directly registered holders receive payment directly. There is no claim form to send.
What if a share purchase had not finished settling?
A buyer who purchased qualifying shares before the October 1, 2024 closing can still qualify if the trade had not finished settling. The seller does not qualify for those same shares. Notice paragraph 35(iii) explains this rule.
How much are the lawyers requesting?
The lawyers plan to request up to 25% of the $26.5 million settlement, plus up to $500,000 in litigation expenses. The court decides the award. These amounts come from the fund; members do not receive individual legal bills for them.
How do I object or ask to speak at the hearing?
Written objections must be received by October 19, 2026. File with the Register in Chancery, serve the required lawyers and email the signed objection to the lawyers listed in notice paragraph 45. Include proof that you belong to the class and follow the complete content and delivery requirements in paragraphs 45–46.
To ask to speak, also file and serve a notice of appearance received by October 23, 2026. Speaking is subject to the court’s permission. A lawyer hired to represent you has a separate October 19 appearance deadline. See paragraphs 47–49 for details.
Can I leave, and what legal rights does this resolve?
You cannot opt out of this settlement. If it becomes effective, members give up the claims covered by its release, including certain unknown claims about the acquisition and related disclosures. Claims to enforce the settlement itself remain available. Read notice paragraphs 36–38 for the full scope.
What must brokers do for shareholders?
A broker or nominee holding shares for others has two notice-delivery options. Within seven calendar days of receiving the notice, it can request enough copies, then forward those copies within seven calendar days of receiving them. Alternatively, within seven calendar days of receiving the notice, it can give the administrator the owners’ names, addresses and available email addresses.
Notice paragraph 53 explains these duties and reimbursement of reasonable, documented expenses after compliance.
When is the hearing, and must I attend?
The court has scheduled the hearing for November 9, 2026 at 3:15 p.m. at the Leonard L. Williams Justice Center, 500 North King Street, Wilmington, DE 19801. It may instead allow or require phone or video attendance. Check the official site for changes before making plans. You do not have to attend to receive an eligible payment.
Schedule checked September 8, 2026: https://powerschoolstockholderslitigation.com/
When will payments arrive, and how long can I cash a check?
There is no fixed payment date. Distribution must wait until court approval and the settlement’s effective date, after any appeals are resolved. Checks become stale more than six months after issue. Remaining funds may be redistributed or, if another distribution would not be cost-effective, sent to the Combined Campaign for Justice under the notice’s rules.
Other Important Dates
- Objection deadline: 2026-10-19
- Final approval hearing: November 9, 2026, at 3:15 p.m.
- Hearing location: Court of Chancery of the State of Delaware, New Castle County, Leonard L. Williams Justice Center, 500 North King Street, Wilmington, DE 19801, or remotely by telephone or videoconference in the Court’s discretion
Case Details
- Total settlement fund: $26,500,000
- Case name: Michigan Electrical Employees’ Pension Fund and Glazer Capital, LLC v. Vista Equity Partners Management, LLC, et al.
- Case number: C.A. No. 2025-0305-LWW
- Court: Court of Chancery of the State of Delaware
- Administrator: A.B. Data, Ltd.
- Official Settlement Website: https://www.PowerSchoolStockholdersLitigation.com
Sources
Claim form, FAQ, deadlines, administrator information
Court-approved notice describing eligibility and benefits