KSF News, Updates, & Insights

Final Approval of $27.5 Million Settlement Granted in Velodyne Securities Litigation

On August 19, 2024, the Hon. Susan Illston entered a Final Judgment approving a $27.5 million settlement of the Class’s claims in Moradpour v. Velodyne Lidar, Inc., et al., No. 3:21-cv-01486-SI (N.D. Cal.)  KSF, as sole Lead Counsel, achieved this extraordinary result after filing two detailed and thorough consolidated and amended complaints, defeating Defendants’ motion to dismiss, prevailing at class certification and engaging in extensive fact discovery over the course of three years.  In approving the settlement, the Court noted KSF’s efforts stating that “Lead Counsel has conducted the litigation and achieved the Settlement with skillful and diligent advocacy.”