Website for the CarLotz Securities Litigation

To qualify for a payment, you must send in a Proof of Claim and Release form (“Claim Form”). Claim Forms may be completed and submitted online here, or you may download a Claim Form from the Important Documents page. Read the instructions carefully, fill out the Claim Form, include all the documents the form asks for, sign it, and mail it postmarked no later than May 2, 2025.

The Court will hold a hearing on June 10, 2025 to decide whether to approve the Settlement. If the Court approves the Settlement, after that, there may be appeals by Settlement Class Members. Resolving appeals can take time, perhaps more than a year. It also takes time for all the Claim Forms to be processed.

Unless you specifically exclude yourself, you will be treated as a member of this Class Action. This means that upon the Effective Date, you will relinquish all Released Plaintiffs’ Claims against Defendants’ Releasees. These terms are defined below:

"Released Plaintiffs’ Claims" means all claims and causes of action of every nature and description, whether known claims or Unknown Claims, whether accrued or unaccrued, whether asserted or unasserted, apparent or not apparent, foreseen or unforeseen, matured or not matured, suspected or unsuspected, liquidated or not liquidated, fixed or contingent, whether arising under federal, state, common or foreign law, or in equity, that Plaintiffs or any other member of the Settlement Class asserted or could have asserted in the Complaint (or any other complaint in this Action) or could have asserted in any forum, and that directly or indirectly arise out of, relate to, or are based upon (a) the allegations, transactions, facts, matters or occurrences, representations or omissions involved, set forth, or referred to in the Complaint (or any other complaint in this Action), including any offering, any statements, disclosures, or omissions during the Settlement Class Period in any of Acamar’s or CarLotz’s filings with the SEC or any other statements or releases, as well as the accuracy of Acamar’s or CarLotz’s financial statements during the Settlement Class Period, or (b) the purchase, acquisition, sale, disposition, or holding of Acamar and/or CarLotz Securities during the Settlement Class Period. Released Plaintiffs’ Claims do not include: (i) any claims relating to the enforcement of the Settlement; (ii); and any claims of any person or entity who or which submits a request for exclusion that is accepted by the Court.

"Defendants' Releasees" means: (i) the Individual Defendants; (ii) Acamar; (iii) CarLotz; (iv) the Trust, (v) all of the other Acamar Defendants; (vi) all of the other CarLotz Defendants; (vii) for each of the foregoing, their respective attorneys, accountants, assigns, assignees, insurers, reinsurers, consultants, agents, experts, and any entity in which any Defendant has or had a controlling interest, in their capacities as such; (viii) for each the foregoing who is a natural person, their respective Immediate Family members, heirs, executors, beneficiaries, and any trust of which any Individual Defendant is the grantor or settlor or which is for the benefit of any Individual Defendant and/or member(s) of his or her Immediate Family, in their capacities as such; and (ix) for each of the foregoing who is not a natural person, their respective current and former officers, directors, agents, trusts, trustees, parents, affiliates, subsidiaries, successors, predecessors, assigns, assignees, employees, and attorneys, in their capacities as such. For the avoidance of doubt, Defendants’ Releasees’ includes Michael W. Bor, Thomas W. Stoltz, Luis Ignacio Solorzano Aizpuru, Rebecca Polak, Juan Carlos Torres Carretero, James E. Skinner, Domenico De Sole, Teck H. Wong, and their respective Immediate Family members, heirs, executors, beneficiaries, and any trust of which any of them is the grantor or settlor or which is for their benefit and/or the benefit of member(s) of his or her Immediate Family, in their capacities as such.

The "Effective Date" will occur when an order entered by the Court approving the Settlement becomes final and not subject to appeal.

If you remain a Member of the Settlement Class, all of the Court’s orders will apply to you and legally bind you.

To exclude yourself from the Settlement, you must send a signed letter by mail stating that you “request exclusion from the Settlement Class in In re CarLotz, Inc. Securities Litigation, Civil Action No. 1:21-cv-05906.” Your letter should state the date(s), price(s), and number of shares of all your purchases and sales of CarLotz and/or Acamar securities during the Settlement Class Period. In addition, be sure to include your name, address, telephone number, and signature. You must mail your exclusion request so that it is received no later than May 20, 2025 to:

You cannot exclude yourself by telephone or by email. If you ask to be excluded, you will not get any Settlement payment, and you cannot object to the Settlement. You will not be legally bound by anything that happens in this lawsuit, and you may be able to sue (or continue to sue) Individual Defendants and the other Defendants’ Releasees in the future. If you exclude yourself, do not send in a Claim Form to ask for any money.

No. Unless you exclude yourself, you give up any rights to sue the Individual Defendants and the other Defendants’ Releasees for any and all Released Claims. If you exclude yourself from the Settlement Class, you may not be able to pursue certain claims due to the expiration of certain applicable statutes of repose. Remember, the exclusion deadline is May 20, 2025.

No.

The judgment of the Court will be binding upon you if you do nothing. You will get no money from this Settlement, and you will be precluded from starting a lawsuit, continuing with a lawsuit, or being part of any other lawsuit against the Individual Defendants and the other Defendants’ Releasees about the Released Claims in this case, ever again. To share in the Net Settlement Fund, you must submit a Claim Form (see FAQ 1). To start, continue, or be a part of any other lawsuit against the Individual Defendants and the other Defendants’ Releasees about the Released Claims in this case, you must exclude yourself from this Class (see FAQ 4).

The Court ordered that Kahn Swick & Foti, LLC (“KSF”) represent all Settlement Class Members. This firm is called Lead Counsel. You will not be separately charged for these lawyers. The Court will determine the amount of Lead Counsel’s fees and expenses, which will be paid from the gross Settlement Fund. If you want to be represented by your own lawyer, you may hire one at your own expense.

Lead Counsel will move the Court to award Lead Counsel’s attorneys’ fees from the gross Settlement Fund in a total amount not greater than thirty-three and one-third percent (33 1/3%) of the gross Settlement Fund. Lead Counsel also will move the Court to award Lead Counsel reimbursement of their expenses in an amount no greater than $190,000. Lead Counsel also intends to request the Court to grant awards to the Lead Plaintiff and Additional Plaintiff, in accordance with 15 U.S.C. § 78u-4(a)(4), not to exceed a value of $15,000, collectively, as reimbursement for their time and expenses in overseeing the prosecution of this Action, also to be paid out of the Settlement Fund. All of these amounts will be paid out of the gross Settlement Fund.

Lead Counsel may pay the Claims Administrator’s fees and expenses incurred in connection with giving notice, administering the Settlement, and distributing the Settlement proceeds to the members of the Settlement Class upon approval of the Court. The Claims Administrator’s fees and expenses will be paid out of the gross Settlement Fund. The Claims Administrator was selected through a competitive bidding process and multiple bids were reviewed and considered.

If you are a Settlement Class Member, you can object to the Settlement or any of its terms, the proposed Plan of Allocation, and/or the application by Lead Counsel for an award of fees and expenses. You may write to the Court setting out your objection(s). You should state reasons why you think the Court should not approve any or all of the Settlement terms or arrangements.

You must object in writing by sending a signed letter stating that you object to the proposed Settlement in In re CarLotz, Inc. Securities Litigation, Civil Action No. 1:21-cv-05906 (S.D.N.Y.). Your objection must include a cover page identifying this case name and number and naming the hearing date of June 10, 2025 at 5:00 PM in Courtroom 15A of the Daniel Patrick Moynihan U.S. Courthouse at 500 Pearl Street, New York, NY 10007. Be sure to include your name, address, telephone number, and signature; identify the date(s), price(s), and number of shares of all purchases and sales of CarLotz and/or Acamar securities you made during the Settlement Class Period; and state the reasons why you object to the Settlement. Your objection must be postmarked on or before May 20, 2025 to the Court; Kahn Swick & Foti, LLC, on behalf of the Plaintiffs; and Counsel for Defendants at the following addresses:

COURT:

Clerk of the Court
Daniel Patrick Moynihan U.S. Courthouse – Southern District of New York
500 Pearl Street
New York, NY 10007

FOR LEAD PLAINTIFF:

Lewis S. Kahn
KAHN SWICK & FOTI, LLC
1100 Poydras Street, Suite 960
New Orleans, LA 70163

Lead Counsel for Lead Plaintiff and the Class

FOR THE DEFENDANTS:

Mary Eaton
FRESHFIELDS US LLP
3 World Trade Center
175 Greenwich St.
New York, NY 10007
Telephone: (212) 277-4000
Email: mary.eaton@freshfields.com

Counsel for Individual Defendants

COURT:

Tobias Keller
KELLER BENVENUTTI KIM LLP
425 Market Street, 26th Floor
San Francisco, CA 94105
Telephone: (415) 796-0709
Email: tkeller@kbkllp.com

Counsel for Arch & Beam Global, LLC, as Trustee of the Shift Technologies Liquidating Trust, Successor to the Shift Debtors

You do not need to go to the Settlement Hearing to have your written objection considered by the Court.

At the Settlement Hearing any Settlement Class Member who has not previously submitted a request for exclusion from the Settlement Class may appear and be heard, to the extent allowed by the Court, to state any objection to the Settlement, the Plan of Allocation, or Lead Counsel’s motion for an award of attorneys’ fees and reimbursement of expenses. Any such objector may appear in person or arrange, at that objector’s expense, for a lawyer to represent the objector at the Settlement Hearing. If you or your representative intend to appear in person but have not submitted a written objection postmarked by May 20, 2025, it is recommended that you give advance notice to Lead Counsel and/or counsel for the Individual Defendants of your intention to attend the hearing in order to object and the basis for your objection. You may contact them at the addresses provided above.

Objecting is simply telling the Court that you do not like something about the proposed Settlement. You can object only if you remain in the Settlement Class. Excluding yourself is telling the Court that you do not want to be part of the Settlement. If you exclude yourself, you have no basis to object because the Settlement no longer affects you.

The Court will hold a Settlement Hearing on June 10, 2025 at 5:00 PM in Courtroom 15A of the Daniel Patrick Moynihan U.S. Courthouse at 500 Pearl Street, New York, NY 10007. At this hearing, the Court will consider whether the Settlement is fair, reasonable, and adequate. At the Settlement Hearing, the Court also will consider the proposed Plan of Allocation for the proceeds of the Settlement and the application of Lead Counsel for attorneys’ fees and reimbursement of expenses. The Court will take into consideration any written objections mailed in accordance with the instructions in the answer to FAQ 11. The Court also will listen to people who seek to speak at the hearing, but decisions regarding the conduct of the hearing will be made by the Court. See FAQ 11 for more information about speaking at the hearing. The Court will also decide how much to pay to Lead Counsel. After the hearing, the Court will decide whether to approve the Settlement. We do not know how long these decisions will take.

You should be aware that the Court may change the date and time of the Settlement Hearing. The Court may also order the hearing to be held remotely. Thus, if you want to come to the hearing, you should check with Lead Counsel before coming to be sure that the date and/or time has not changed.

The Notice summarizes the proposed Settlement and is available for download from the Important Documents page. More details are contained in the Stipulation and Agreement of Settlement (the “Stipulation”), which is also available for download from the Important Documents page.

You also can call the Claims Administrator toll-free at (888) 891-7677; write to the Claims Administrator at CarLotz Securities Litigation, c/o Epiq Class Action & Claims Solutions, P.O. Box 2109, Portland, OR 97208-2109; or review this website, where you will find a Claim Form, answers to common questions about the Settlement, and other information to help you determine whether you are a Settlement Class Member and whether you are eligible for a payment.

For more detailed information concerning the matters involved in this Action, you can inspect the pleadings, the Stipulation, the Orders entered by the Court, and the other papers filed in the Action at the Office of the Clerk, Daniel Patrick Moynihan U.S. Courthouse at 500 Pearl Street, New York, NY 10007, during regular business hours. You may also contact Lead Counsel.