WELCOME TO THE ARCIMOTO SECURITIES LITIGATION SETTLEMENT

This website has been established to provide general information related to the proposed settlement of the lawsuit referred to as Switzer v. W.R. Hambrecht & Co., LLC, et al., Lead Case No. CGC-18-564904 (the “Litigation”), and is pending before the Honorable Mary E. Wiss in the Superior Court for the State of California, County of San Francisco (the “Court”). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Amended Stipulation of Settlement (the "Stipulation") dated August 2, 2019, which can be found and downloaded by clicking on the Case Documents tab above.

The law firms of Robbins Geller Rudman & Dowd LLP and Johnson Fistel, LLP represent you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

Plaintiffs brought this Litigation as a securities class action against Arcimoto, Inc. (“Arcimoto”), certain of its officers and directors, and the underwriter for Arcimoto’s initial public offering (“IPO”), alleging that they violated the Securities Act of 1933 by misrepresenting and omitting material facts in the Prospectus issued in connection with Arcimoto’s September 21, 2017 IPO. Defendants expressly have denied and continue to deny all charges of wrongdoing or liability against them, and they deny that Plaintiffs or Class Members have suffered damage, or were otherwise harmed by the conduct alleged in the Litigation.

If you purchased Arcimoto common stock between June 22, 2017 and September 21, 2017, you are a Class Member.  Excluded from the definition of the Class are Defendants and their families, the officers, directors and affiliates of Defendants at all relevant times, members of their immediate families and their legal representatives, heirs, successors or assigns, and any entity in which Defendants have or had a controlling ownership interest during the Class Period. Also excluded is any person that timely and validly requests exclusion from the Class in accordance with the instructions in Section 15 of the Notice.

WHAT DOES THE SETTLEMENT PROVIDE?

The proposed Settlement will create a cash settlement fund of $2,450,000 (the “Settlement Fund”), plus any interest that may accrue thereon less certain deductions.

The Settlement Fund, subject to deduction for, among other things, costs of class notice and administration and certain taxes and tax-related expenses, as well as attorneys’ fees and expenses, and the amount to Plaintiffs in connection with their representation of the Class, as approved by the Court, will be available for distribution to Class Members. Your recovery from this fund will depend on a number of variables, including how many shares of Arcimoto common stock you purchased during the Class Period, the timing of your purchases and any sales, and how many other Class Members make claims. 

ADDITIONAL INFORMATION

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IMPORTANT DATES AND DEADLINES