Concord Acquisition Settlement Website

This website provides information about the proposed shareholder class action settlement (the “Settlement”) in Funicular Funds, LP v. Concord Acquisition Group, et al., C.A. No. 2022-1173-PAF (the “Action”), which is currently pending in the Court of Chancery of the State of Delaware (the “Court”). The Settlement would resolve claims on behalf of former holders of Class A common stock of Concord Acquisition Corp (“Concord” or the “SPAC”) arising from the distribution of the SPAC’s residual assets.

The information contained on this website is a summary of the information presented in more detail in the Notice of Pendency of Class Action, Proposed Agreement of Settlement and Release, Settlement Hearing, and Right to Appear (the “Settlement Notice”). You should review the Settlement Notice for additional details regarding the Settlement and payments thereunder.

As further described in the Settlement Notice, the Settlement consists of (i) a cash payment of $3,700,000 (United States Dollars) (the “Settlement Cash”); and (ii) an amount of shares of the SPAC’s former merger partner, Circle Internet Group, acquired as a break-up fee following the termination of its business combination (the “Settlement Shares,” and with the Settlement Cash, the “Settlement Amount”). The Settlement was negotiated by the Funicular Funds, LP (“Plaintiff”) and resolves all claims relating to the SPAC’s liquidation and distribution of assets.

The Settlement applies to all persons who held public shares of Concord Class A common stock at the time of redemption of such shares on December 8, 2022, including their legal representatives, heirs, successors-in-interest, transferees, and assignees of all such holders (the “Class”). Members of the Class need not fill out a claims form in order to receive a settlement distribution, which will be sent by the settlement administrator to the account in which each member of the Class formerly held Concord’s shares.

The Court will consider whether to finally approve the proposed Settlement and the payments thereunder at a hearing on December 11, 2025.

If you are a member of the Class, your rights will be affected by the pending Action and the Settlement whether or not you take action. Please read the Settlement Notice carefully to fully understand your rights.