The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action. Because this website is just a summary, you should review the Notice for additional details.

Summary of the Action and Settlement

This website relates to securities class action lawsuit ("the Action") against Katapult Holdings, Inc. (“Katapult”), Orlando Zayas, Karissa Cupito, Derek Medlin, Lee Einbinder, and Howard Kurz (“Defendants”). Lead Plaintiff Matis Nayman and additional plaintiff, Felipe de Castro Luna (collectively, the “Plaintiffs” for the purposes of the Settlement) allege that Defendants violated the federal securities laws by making materially false and misleading statements and omissions of information regarding Katapult’s financial prospects, causing the price of Katapult’s securities to be artificially inflated and resulting in damage to the Settlement Class Members after the true facts were revealed. Plaintiffs also allege that FinServ Acquisition Corp. (“FinServ”) failed to disclose critical information in its proxy statement in connection with the business combination between FinServ and Katapult.

Plaintiffs, on behalf of the Settlement Class, have settled the Action with Defendants for $2,500,000 in total settlement value—with $1,775,000 paid in cash and the remainder paid in either shares of freely-tradeable Katapult common stock or additional cash to settle all of the Plaintiffs’ and the Settlement Class’s known and unknown claims against Defendants. Following the Settlement Hearing on December 13, 2024, the Court entered a Final Judgment and Order of Dismissal with Prejudice approving the Settlement, an Order approving the Plan of Allocation, Class Certification and an Order awarding Attorney’s Fees and Costs.

The Settlement Class consists of all persons and entities that:

(a) purchased or otherwise acquired Katapult securities between June 15, 2021 and August 9, 2021, both dates inclusive, and/or (b) held FinServ common stock as of May 11, 2021 and were eligible to vote at FinServ’s June 7, 2021 special meeting.

Excluded from the Settlement Class are: (i) Katapult, Orlando Zayas, Karissa Cupito, Derek Medlin, Lee Einbinder, Howard Kurz, Robert Matza, Diane B. Glossman, Aris Kekedjian, and FinServ Holdings LLC (“FinServ Holdings”); (ii) any person who was an officer or director of FinServ or FinServ Holdings between November 5, 2019 and June 9, 2021; (iii) any person who was an officer or director of Katapult between May 18, 2021 and August 10, 2021; (iv) the immediate family members, meaning the parents, spouse, siblings, or children, of any of the foregoing persons; (v) any trusts, estates, entities, or accounts that held FinServ or Katapult shares for the benefit of the foregoing persons or entities; (vi) the legal representatives, heirs, successors-in-interest, successors, transferees, and assigns of the foregoing persons or entities. Also excluded from the Settlement Class will be any Person who timely and validly seeks exclusion from the Settlement Class.

Please read the Notice to fully understand your rights and options. Copies of the Notice can be found in the Important Documents tab at top of this page.

On December 1, 2025, the Court approved an Order Granting Unopposed Motion for Distribution of Class Settlement Fund.

Payments to eligible claimants will be made after the completion of all claims processing. Please be patient, as this process will take some time to complete.

How do I obtain more information?

Detailed information about the Settlement is contained in the Notice and the documents on the Important Documents page of this website. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 844-552-0057, emailing info@Katapult-FinServSecuritiesLitigation.com, or mailing a letter to:

Katapult Securities Litigation
c/o JND Legal Administration
PO Box 91340
Seattle, WA 98111

Inquiries should NOT be directed to the Court or the Clerk of the Court.