NEW YORK, Jan. 26, 2026 /PRNewswire/ -- Glancy Prongay & Murray LLP announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed settlement that would benefit purchasers of Hub Cyber Security Ltd. publicly traded common stock (NASDAQ: HUBC):
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
IN RE HUB CYBER SECURITY LTD | MASTER FILE NO. 1:23-CV-05764-AS |
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION, CERTIFICATION OF SETTLEMENT CLASS, AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: All persons and entities that purchased or otherwise acquired the publicly traded common stock of Hub Cyber Security Ltd. ("Hub") from March 1, 2023 through July 31, 2023, both dates inclusive, and were damaged thereby (the "Settlement Class")[1]:
PLEASE READ THIS NOTICE CAREFULLY, AS YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that the above-captioned litigation (the "Action") has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the Notice of (I) Pendency of Class Action, Certification of Settlement Class, and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that Plaintiffs in the Action have reached a proposed settlement of the Action for $11,000,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on June 29, 2026 at 11:00 a.m., before the Honorable Arun Subramanian in Courtroom 15A at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and in the Notice should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. The Notice and Proof of Claim and Release Form ("Claim Form"), can be downloaded from the website maintained by the Claims Administrator at www.HubSecuritiesSettlement.com. You may also obtain copies of the Notice and Claim Form by contacting the Claims Administrator at In Re Hub Cyber Security Ltd. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, Media, PA 19063; (Toll-Free) (866) 274-4004; (Fax) (610) 565-7985; info@strategicclaims.net.
If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form to the Claims Administrator postmarked by mail or submitted online no later than May 13, 2026. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received by or postmarked no later than June 1, 2026 to the Claims Administrator, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be delivered to the Clerk of the Court, Lead Counsel and Defendants' Counsel such that they are received by June 8, 2026, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Defendants, or their counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Requests for the Notice and Claim Form should be made to the Claims Administrator:
In Re Hub Cyber Security Ltd. Securities Litigation
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson St., Ste. 205
Media, PA 19063
Toll-free Telephone: (866) 274-4004
Email: info@strategicclaims.net
www.HubSecuritiesSettlement.com
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
GLANCY PRONGAY & MURRAY LLP
Casey E. Sadler, Esq.
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Telephone: (310) 201-9150
Email: settlements@glancylaw.com
By Order of the Court
1 All capitalized terms used in this notice that are not otherwise defined herein have the meanings ascribed to them in the Stipulation and Agreement of Settlement dated December 9, 2025 (the "Stipulation"), which is available at www.HubSecuritiesSettlement.com.
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SOURCE Glancy Prongay & Murray LLP
