Vintage Wine Securities Litigation Settlement

The plan has extra rules beyond simply buying during the class period. Whether a claim receives a payment can depend on when the shares were sold or held.

• You must have bought publicly traded Vintage Wine common stock during the class period and been damaged.
• For a Recognized Loss Amount under the proposed allocation plan, the shares generally must have been held through at least one of the two corrective-disclosure dates: September 14, 2022 or February 9, 2023.
• Shares sold before September 14, 2022 have a Recognized Loss Amount of zero under the proposed plan.

The notice requires documentation but does not list every document that will be accepted. It directs claimants to use the Claim Form for the required details.

• Fill out and submit the Claim Form by the deadline.
• Include adequate supporting documentation.
• Keep records showing your ownership of and transactions in Vintage Wine common stock. The notice says those records may be needed to document the claim.

The $0.79 figure in the notice is only an estimated average recovery per eligible share before deductions. Your result can be higher, lower, or zero depending on your transactions, the allocation rules, and the valid claims submitted.

• There is no set payment amount for an individual claimant.
• Claims are weighted by each authorized claimant's Recognized Claim, then paid from the Net Settlement Fund on a pro rata basis.
• No payment will be made if the calculated Distribution Amount is less than $10.

These are allocation-plan rules for calculating a claim. They can affect whether particular shares count toward a payment.

• The plan uses first-in, first-out (FIFO) matching for multiple purchases and sales.
• Short-sale transactions have a Recognized Loss Amount of zero. Purchases used to cover an earlier short position are not eligible until that short position is fully covered.
• Options and warrants themselves are not eligible. However, common stock bought by exercising a publicly traded option or warrant may be calculated using the exercise date and strike price.
• Common stock acquired by exercising, converting, or exchanging non-publicly traded Vintage Wine securities is not eligible. Nor is stock acquired in exchange for another company's securities.

ERISA is a federal law that covers certain employee benefit plans. The notice gives separate claim instructions for investments held through an ERISA plan.

• Do not include transactions in Vintage Wine stock held through an ERISA plan in your individual Claim Form.
• Only include shares you personally bought outside the ERISA plan.
• The plan's trustees may submit a claim for the plan's purchases.

Doing nothing is different from leaving the settlement. You can remain bound by the settlement without receiving a payment.

• You will not receive a payment if you do not submit a timely and valid Claim Form.
• You remain in the Settlement Class unless you validly exclude yourself.
• If the settlement is approved, remaining class members release the covered claims relating to purchases of publicly traded Vintage Wine common stock during the class period.

Excluding yourself means leaving the Settlement Class. The notice says this is the option that allows a person to pursue another lawsuit concerning the released claims.

• Send a written Request for Exclusion to the Claims Administrator. It must be received or postmarked by September 1, 2026.
• Include your name, address, telephone number, a statement requesting exclusion in this case, the shares bought and sold during the class period with dates and prices, and your signature or an authorized representative's signature.
• If you exclude yourself, you cannot receive money from the Net Settlement Fund.

The notice does not provide a specific payment date.

• Payments cannot be distributed unless the Court approves both the settlement and a plan of allocation.
• The time to seek rehearing, appeal, or other review must also expire.
• Claims processing must be completed before payments are made.

These instructions apply to someone who bought shares for the beneficial interest of other people or organizations, such as a broker or other nominee.

• Within seven calendar days after receiving the Claims Administrator's notice, a nominee must either forward postcard notices, email the notice-and-claim link to beneficial owners with valid email addresses, or provide the Claims Administrator with beneficial owners' names and contact details.
• A nominee that forwards notices or emails the link must also confirm to the Claims Administrator that it did so.
• A complying nominee may seek limited reimbursement for actual reasonable notice expenses, with supporting documentation.