LLion Electric Settlements

Northern Genesis (Lion Electric SPAC) $4M Stockholder Settlement

$4 million proposed settlement of Schachter v. Robertson (Del. Ch., C.A. No. 2023-1112-NAC), a stockholder class action against directors of the Northern Genesis SPAC over its merger with The Lion Electric Company. Defendants deny wrongdoing; settlement hearing December 1, 2026. Who is eligible: Persons who held Northern Genesis Acquisition Corp. (NGA) Class A common stock as of the April 21, 2021 redemption deadline and elected not to redeem all of those shares (defendants and affiliates excluded).