The settlement of this shareholder class action lawsuit is on behalf of investors who purchased or otherwise held Polestar Automotive Holding UK PLC (“Polestar”) f/k/a Gores Guggenheim, Inc. (“Gores”) (NASDAQ: GGPI) common stock as of announcement of the merger on September 27, 2021, through and including the closing on June 23, 2022 either of record or beneficially, who did not redeem all of their shares.
Polestar agreed to pay $25,000,000 to resolve this class action lawsuit alleging the company and certain of its officers and/or directors breached their fiduciary duties to the Class.
What’s the status of the Settlement?
On March 5, 2026, the Court granted Preliminary Approval of the Class Action Settlement. There is a Final Settlement Hearing scheduled for May 18, 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 held Gores common stock between September 27, 2021 and June 23, 2022 either of record or beneficially, who did not redeem all of their shares.
How much is the Settlement Payment?
Pro rata payment: The total settlement fund is $25,000,000. 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 June 17, 2026. To submit a claim and/or to find additional information regarding the terms of the settlement and claim filing process, go to www.GGIStockholderSettlement.com, or contact the claims administrator, A.B. Data, Ltd., at 1- 866-905-8130.
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.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.