The settlement of this federal securities fraud class action lawsuit is on behalf of investors who purchased or otherwise acquired Hub Cyber Security Ltd. (“Hub”) (NASDAQ: HUBC) securities (1) pursuant and/or traceable to the registration statement and related prospectus, and all supplements thereto, (collectively, the “Offering Documents”) issued in connection with the business combination between Hub and Mount Rainier Acquisition Corp. (“Mount Rainier”) (the “Business Combination”) between March 1, 2023 and July 31, 2023, inclusive (the “Class Period”); and/or (2) held Mount Rainier or Legacy Hub securities that were converted into Hub securities on or about March 1, 2023, as part of the Business Combination.
Hub agreed to pay $11,000,000 to resolve this class action lawsuit alleging the company and certain of its officers and/or directors violated federal securities laws by making false or misleading statements.
What’s the status of the Settlement?
On December 10, 2025, the Court granted Preliminary Approval of the Class Action Settlement. There is a Final Settlement Hearing scheduled for June 29, 2026. The settlement website is active and open for claims.
Who can file a claim?
The settlement class includes all persons or entities who:
- Purchased or otherwise acquired Hub securities issued in connection with the Business Combination between March 1, 2023 and July 31, 2023, inclusive;
- Held Mount Rainier or Legacy Hub securities that were converted into Hub securities on or about March 1, 2023, as part of the Business Combination.
How much is the Settlement Payment?
Pro rata payment: The total settlement fund is $11,000,000. The amount each class member receives will depend on several factors, including:
- The number of valid claims submitted
- The number of shares purchased and sold
- The dates of purchase and sale
- The price paid for the shares and the price received upon sale
How do I file a claim?
The deadline to file a claim is May 13, 2026. To submit a claim and/or to find additional information regarding the terms of the settlement and claim filing process, go to www.HubSecuritiesSettlement.com, or contact the claims administrator, Strategic Claims Services, at 1-866-274-4004.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com.