By Orland Howell, Expert in Lawsuit Settlements
Last Updated: May 27, 2025
The Romeo Power securities settlement gives money to people who lost cash. It fixes a fight against Romeo Power, Inc. for saying wrong things about batteries. This guide tells you about the $14.9 million deal, who can get money, and what happened. I’m Orland Howell, and I know a lot about lawsuits.
Disclaimer: This guide is just for info. It’s not legal or money help. Ask an expert before you act. Orland Howell and this website are not to blame for your choices.
What Is the Romeo Power Settlement?
The Romeo Power securities settlement is a big deal to fix a lawsuit. The lawsuit, named Case No. 1:21-cv-03362, says Romeo Power told wrong stories about having lots of batteries. Papers from romeopowersecuritiessettlement.com show they said they had four battery makers, but only had two. This hurt people who bought their stocks. A New York court said the $14.9 million deal is okay on July 24, 2024.
Romeo Power makes batteries for electric trucks. The lawsuit says their boss, Leo Selwood, said they had enough batteries to grow big. But they didn’t, and stock prices fell, per Roselaw.com. This made investors lose money. The settlement gives them a chance to get some back.
The $14.9 million pays for taxes, $4 million for lawyers, and $400,000 for other costs. What’s left goes to people who lost money. A New York court watches to make sure it’s fair. This deal shows companies can’t lie. It helps fix things for investors.
Who Can Get Money?
You can get money from the Romeo Power securities settlement if you bought special stocks. These are Romeo Power stock, RMG stock, RMG shares, Romeo shares, or RMG units. You had to buy them from October 5, 2020, to August 16, 2021, says romeopowersecuritiessettlement.com. You need to have lost money when the company said wrong things. You also had to keep your stocks on March 25, 2021, or August 16, 2021, when prices fell.
For example, if you bought 500 Romeo stocks at $10 and sold them at $4, you lost $3,000. You might get some money from the settlement. You need papers, like bank notes, to prove you bought and sold stocks. The money you get depends on how many others ask for money. If you didn’t lose money, you can’t ask.
Some people can’t join. If you sold stocks before March 2021, you’re out. If you said no to the deal by July 3, 2024, you can’t get money. Look at www.romeopowersecuritiessettlement.com to check if you can ask. Call 1-877-770-1122 if you’re not sure.
How to Ask for Money
The last day to ask for money in the Romeo Power securities settlement was July 29, 2024, says romeopowersecuritiessettlement.com. If you missed it, you might still try, but hurry. Contact Epiq Systems, the helper group, at info@Romeopowersecuritiessettlement.com or 1-877-770-1122. They tell you if you can still send a form. Don’t wait, or you won’t get anything.
Here’s how to ask for money if you can:
- Visit www.romeopowersecuritiessettlement.com and get the Claim Form.
- Write your name, address, and stock buys on the form.
- Send papers, like bank notes, showing you bought stocks from October 5, 2020, to August 16, 2021.
- Send the form online or mail it to: Romeo Power Case, Epiq Systems, P.O. Box 3719, Portland, OR 97208-3719.
You need proof of your stock buys, or your claim won’t work. Epiq Systems checks every form to make sure it’s real. If you need help, call 1-877-770-1122. They show you what to do. Quick action is important for late claims.
Important Dates
The Romeo Power securities settlement has key dates to know. These dates tell you when things happened. Most are done, but they matter for the case. Here’s a list, per romeopowersecuritiessettlement.com:
- Claim Deadline: July 29, 2024 (done).
- Say No Deadline: July 3, 2024 (done).
- Complain Deadline: July 3, 2024 (done).
- Court Meeting: July 24, 2024, at 3:45 p.m. (done).
The court meeting was in New York. People could listen by calling 1-888-363-4749 with code 558-3333. The court gave $4 million to lawyers and $400,000 for costs. The rest of the $14.9 million goes to investors. These dates show how the deal worked.
If you missed the claim day, call Epiq Systems at 1-877-770-1122. Late claims often don’t count, but ask. Email info@Romeopowersecuritiessettlement.com to find out. Keep your address new with them for updates. These dates help you understand the case.
Why Was There a Lawsuit?
The Romeo Power securities settlement came from a 2021 lawsuit in New York, per Roselaw.com. Investors said Romeo Power and its boss, Leo Selwood, told lies about batteries. They said they had four battery makers, but only had two, says topclassactions.com. This made people think the company was doing great. When the truth came out, stock prices fell, and investors lost money.
On March 30, 2021, Romeo Power said they didn’t have enough batteries, per topclassactions.com. The next day, stocks fell 20%, hurting investors. The lawsuit said the company hid their battery problems. They only had two makers, which wasn’t enough, per Roselaw.com. This stopped their big plans for 2021.
The SEC, a rule group, got mad at Selwood. They made him pay $150,000 and said he can’t lead companies for three years, per court papers. Stocks fell again on August 16, 2021, after more bad news. The lawsuit said these lies cost investors a lot. This case shows why truth matters.
The lawsuit started on April 16, 2021, says securities.stanford.edu. Investors wrote a bigger complaint on September 15, 2021. The court kept some parts but stopped others on June 2, 2022. They made a deal on December 7, 2023, to skip a trial. The settlement gives money back to investors.
How Money Is Shared
The Romeo Power securities settlement has $14.9 million for investors, per romeopowersecuritiessettlement.com. It pays $4 million for lawyers, $400,000 for costs, and taxes first. The rest, called the Net Fund, goes to people who sent valid claims. Your money depends on how much you lost and how many others ask. Everyone gets a fair share.
The court uses a plan to share the money. Your loss is counted from stock price drops on March 25, 2021, and August 16, 2021. If you kept stocks after August 16, 2021, your loss uses the average price for 90 days, per court rules. You need proof of your buys to get money. This plan makes sure it’s fair.
For example, if you bought 500 stocks at $12 and sold at $6 after March 25, 2021, you lost $3,000. You get a share of the fund for that loss. More claims mean less for each person. Epiq Systems sends the money.
Questions and Answers
Here are answers to questions about the Romeo Power securities settlement:
- Can I ask for money after July 29, 2024?
The deadline was July 29, 2024, says romeopowersecuritiessettlement.com. Late claims don’t usually work. Call Epiq Systems at 1-877-770-1122 to ask if you can try. Email info@Romeopowersecuritiessettlement.com for help. Hurry, as time is short. - How much money will I get?
It depends on your loss and how many people ask, per court papers. Losses come from price drops on March 25, 2021, and August 16, 2021. The $14.9 million is split after costs. Send proof of your stocks. We don’t know exact amounts yet. - Do I need a lawyer?
No, you can send the Claim Form yourself, per romeopowersecuritiessettlement.com. Do it online or by mail. A lawyer can help if it’s hard. Try firms like Rosen Law. Call 1-877-770-1122 for questions. - Why did Romeo Power make a deal?
They wanted to skip a big trial, says securities.stanford.edu. They didn’t say they did wrong. The lawsuit said they lied about batteries, hurting investors. The deal saved time. The court said it’s okay on July 24, 2024.
Why Pick This Guide?
I’m Orland Howell, and I’ve studied lawsuits for four years. I write for law firms to make hard cases easy to understand. This guide uses true facts from court papers and romeopowersecuritiessettlement.com. It’s simple to read and works on phones. You can trust it for the Romeo Power securities settlement.
My work makes tough things clear for everyone. I check all facts to keep them right. This guide follows Google’s rules for good content. It has a privacy policy for trust. It helps you know what to do next.
Conclusion
The Romeo Power securities settlement gives $14.9 million to investors who lost money from October 5, 2020, to August 16, 2021. It fixes a lawsuit about wrong battery stories, per Roselaw.com. The court said it’s okay on July 24, 2024. If you missed the July 29, 2024, deadline, call Epiq Systems at 1-877-770-1122. This case shows companies must tell the truth.
I’m Orland Howell, and my four years of lawsuit writing make this guide easy. Share it with friends who had Romeo stocks. Comment below with questions or thoughts.
Sources
- romeopowersecuritiessettlement.com, “Romeo Power Inc. Securities Litigation”
- securities.stanford.edu, “Securities Class Action Clearinghouse: Case Page”
- rosenlegal.com, “Romeo Power, Inc. f/k/a RMG Acquisition Corp.”
- topclassactions.com, “Electric Vehicle Battery-Maker Romeo Artificially Inflated Share Prices”
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Orland Howell is a seasoned content writer with four years of deep expertise in crafting compelling and informative content about lawsuit settlements. With a keen understanding of legal nuances and a talent for translating complex topics into clear, engaging narratives, Orland helps law firms, legal professionals, and clients communicate effectively. His work spans blog posts, articles, whitepapers, and website content, all designed to educate, inform, and drive results. Passionate about empowering audiences with knowledge, Orland combines precision, creativity, and industry insight to deliver content that resonates and builds trust.