Open for claimsSecuritiesNAPCO Security Technologies stock settlement
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The federal securities lawsuit concerned allegedly misleading financial statements by NAPCO. The court has preliminarily approved a $20 million settlement. Final approval and an approved, documented claim are needed for payment.
The allocation plan uses the dates and prices of your NAPCO trades and the shares you still held. An individual payment can differ from the amount lost; there is no flat payment per shareholder.
Key facts
- Gross fund
- $20 million
- Eligible acquisitions
- November 7, 2022 through August 18, 2023, inclusive
- Claim deadline
- December 28, 2026
- Case
- Zornberg v. NAPCO Security Technologies, Inc., No. 1:23-cv-06465-BMC, Eastern District of New York
Official settlement administrator: Verita Global
Evidence for key facts
These excerpts record what official sources said when checked. Open a fact to see its source and supporting passage. Follow the source for the latest information.
Claim statusChecked
To be eligible to receive a payment from the Settlement, you must submit a Proof of Claim.
Court-authorized class notice and allocation plan (archived copy)Issued notice question 8
Who qualifiesChecked
who purchased or otherwise acquired NAPCO common stock between November 7, 2022, and August 18, 2023, inclusive, and were damaged thereby
Court-authorized class notice and allocation plan (archived copy)Issued notice question 4
Claim deadlineChecked
Must Be Postmarked (if Mailed) or Received (if Submitted Online) No Later Than December 28, 2026
Administrator-issued proof of claimIssued proof of claim p. 5, actual dated form retained with matched public app case
Payment and benefitsChecked
a $20 million cash settlement fund has been established
Court-authorized class notice and allocation plan (archived copy)Issued notice, statement of class recovery
Payment and benefitsChecked
less than $10.00, no distribution will be made to that Authorized Claimant
Court-authorized class notice and allocation plan (archived copy)Issued notice, allocation plan paragraph 17
Proof requirementsChecked
include all the documents the form asks for, sign it, and mail
Court-authorized class notice and allocation plan (archived copy)Issued notice question 8; compare the administrator-issued proof of claim, supporting brokerage records
Who qualifies
- You must have purchased or otherwise acquired NAPCO common stock during the class period and been damaged. The class definition is based on the investment, without a state-residency requirement. The beneficial purchaser or its legal representative files the claim.
- Defendants and former defendants, their immediate families, NAPCO officers and directors during the class period and their immediate families, and their legal representatives, heirs, successors or assigns are excluded. Entities controlled by a defendant or former defendant and people who validly opted out are also excluded. The notice provides a limited exception for investment vehicles defined in question 4.
How to file a NAPCO stock claim
- 1
Gather your brokerage records
Gather trade confirmations, monthly statements or a broker statement that identifies your transactions and holdings. Report the balances requested for November 6, 2022, August 18, 2023 and November 17, 2023. Send copies of the records.
- 2
Complete and sign the proof of claim
Identify the beneficial owner, complete the transaction schedule and sign the release. File separate claims for separate legal entities or ownership arrangements as the form instructs.
- 3
Submit online or by mail
Submit through the settlement website by December 28, 2026, or have the signed proof and documents postmarked by that day. Mail to NAPCO Securities Settlement, Claims Administrator, c/o Verita Global, P.O. Box 301170, Los Angeles, CA 90030-1170.
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Frequently asked questions
Does a trading loss guarantee a payment?
No. The allocation plan determines a recognized claim using the trading records. An approved claim receives its share of the net fund; a calculated share under $10 is not paid.
What if I no longer have my trade confirmations?
The form also accepts monthly brokerage statements or an authorized broker statement with equivalent transaction and holding information. Ask your broker for copies if you lack the records.
Do I have to live in New York?
The case is in federal court in New York. The class definition turns on acquisition of NAPCO common stock and damages, and does not require New York residency.
When will payments arrive?
The administrator can distribute the fund only after the settlement becomes effective and claims can be processed. The filing deadline is separate from payment.
Sources and official records
Consult these records for the official terms and current updates. ClaimBee's summary helps explain the settlement; the administrator and court documents determine the claim requirements and benefits.
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