The settlement of this federal securities fraud class action lawsuit is on behalf of 2 different classes of Owlet, Inc. (“Owlet”) (NYSE: OWLT; OWLT WS) f/k/a Sandbridge Acquisition Corporation (“Sandbridge”) (NYSE: SBG; SBG WS) investors. The first settlement class includes Owlet investors who purchased or otherwise acquired Owlet securities between March 31, 2021 and October 4, 2021, inclusive (the “Class Period”) (the “10(b) Class”). The second settlement class includes investors who held Sandbridge common stock as of June 1, 2021 and were eligible to vote at Sandbridge’s special meeting on July 14, 2021 (the “14(a) Class”).
Owlet agreed to pay $3,500,000 to the 10(b) Class and $1,750,000 to the 14(a) Class 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 September 26, 2025, the Court granted Preliminary Approval of the Class Action Settlement. On January 2, 2026, Lead Plaintiffs filed the Motion for Final Approval of the Class Action Settlement, and there was a Final Settlement Hearing on February 25, 2026. The Motion is pending decision before the Court. This action is ongoing.
Who can file a claim?
The settlement classes include all persons or entities who:
- Purchased or otherwise acquired Owlet securities between March 31, 2021 and October 4, 2021; and/or
- Held Sandbridge common stock as of June 1, 2021 and were eligible to vote at Sandbridge’s special meeting on July 14, 2021.
How much is the Settlement Payment?
Pro rata payment: The total settlement fund is $3,500,000 for the 10(b) Class and $1,750,000 for the 14(a) Class. 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 for the 14(a) Class was December 12, 2025.
The deadline to file a claim for the 10(b) Class was January 17, 2026.
Please note, you may be eligible to participate in both settlements, and, if so, you only need to submit one claim form. To submit a claim and/or to find additional information regarding the terms of the settlement and claim filing process, go to www.strategicclaims.net/case/owlet/, 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.