The Court of Chancery of the State of Delaware is set to consider a proposed resolution in a stockholder class action tied to Northern Genesis Acquisition Corp. The matter involves claims from individuals who owned the company's Class A common stock on April 21, 2021.

Plaintiffs Ahuva Schachter, Michael Smith, Douglas Neujahr, Samhita Gera, and Denish Bhavsar brought the suit on behalf of similarly situated holders against defendants Ian Robertson, Ken Manget, Christopher Jarratt, Michael Hoffman, Paul Dalglish, Brad Sparkes, and Robert Schaefer. The case carries the designation C.A. No. 2023-1112 NAC.

The proposed class covers all persons who held Northern Genesis Acquisition Corp Class A common stock as of the April 21, 2021 redemption deadline, whether recorded or beneficially, and who chose not to redeem every share. This includes successors who acquired shares through legal operation, while excluding defendants, their immediate family members, related entities, and certain trusts or accounts benefiting excluded parties.

Under the terms of the agreement, defendants would pay $4 million in cash to settle all claims. If approved, the resolution would end the litigation and provide for distribution of net proceeds to eligible class members on a proportional basis after deductions.

A settlement hearing is scheduled for December 1, 2026, at 11:00 a.m. before Vice Chancellor Nathan A. Cook at the Leonard L. Williams Justice Center in Wilmington, Delaware. The session will address class certification for settlement purposes, adequacy of representation, fairness of the agreement, approval of the allocation plan, and any request for attorney fees and expenses.

Class members who have not received the full notice and claim form may obtain them from the administrator via mail, phone at 1-855-961-0957, or the dedicated website. Completed claim forms must be submitted by January 30, 2027, to qualify for payment. The class is structured as non-opt-out, so members remain bound by court orders.

Objections to the settlement, allocation plan, or fee application must reach the register and counsel by November 13, 2026. All inquiries should go to the administrator or lead counsel rather than the court. Contact details for the administrator and attorneys are listed on the settlement site.