Decarbonization Plus Acquisition Corp. $8.8M Settlement

Consumers who held shares of Decarbonization Plus Acquisition Corp. (Decarb) Class A common stock as of July 13, 2021, and did not redeem all of their shares may qualify to claim a cash payment from an class action settlement.

Decarbonization Plus Acquisition Sponsor LLC, Riverstone Investment Group LLC, WRG DCRB Investors LLC and other defendants agreed to pay $8.8 million to resolve a class action lawsuit. The lawsuit alleged Decarb’s directors, officers and controlling shareholders failed to provide all material information needed for stockholders to make an informed redemption decision in connection with the merger between Decarb and Hyzon Motors Inc.

Who is eligible to file a Decarb claim?

Class members must meet all of the following criteria:

• They held shares of Decarb Class A common stock as of the redemption deadline of July 13, 2021.
• They did not redeem all of their shares at that time.
• They are the beneficial or record holder of those shares or an heir, successor-in-interest, successor, transferee or assign of such a holder.

Class members include both individuals and entities. Those who held shares through a broker or nominee are eligible as a beneficial owner.

How much is the securities payout?

Pro rata payment: The amount each class member can receive depends on several factors, including the number of valid claims submitted and the the number of shares they held, whether they sold or held their shares after the redemption deadline and the price at which they sold them, if applicable.

If the amount due to a claimant is less than $10, they will not receive payment.

How to claim a class action payment

Class members can submit the online claim form or download, complete and mail the PDF claim form to the settlement administrator. The claim deadline is Oct. 14, 2025.

Settlement administrator's mailing address: DCRB Spac Settlement, c/o A.B. Data Ltd., P.O. Box 173102, Milwaukee, WI 53217

What information is required to submit a claim?

Class members must provide the last four digits of their Social Security number or taxpayer identification number.

They must also provide documentation to support their claim. This includes:

• Proof of holdings of Decarb Class A common stock as of July 13, 2021 (such as broker statements or confirmation slips)
• Documentation of any purchases or sales of Decarb Class A common stock or Hyzon ordinary shares after July 13, 2021, through March 18, 2022
• Proof of holdings of Hyzon shares as of March 18, 2022, if applicable

Payout options

• Electronic payment
• Paper check

$8.8 million settlement fund breakdown

The $8,800,000 settlement fund includes:

• Settlement administration costs: Up to $500,000
• Attorneys' fees and expenses: Up to $2,200,000
• Service award to plaintiff: Up to $15,000
• Payments to eligible class members: The remainder of the fund

Important dates

• Fairness hearing: Oct. 3, 2025
• Deadline to file a claim: Oct. 14, 2025

When is the DCRB SPAC settlement payout date?

Payments will be made after the court approves the settlement and any appeals are resolved.

Why is there a class action settlement?

The class action lawsuit alleged that Decarbonization Plus Acquisition Corp. and its directors, officers and controlling shareholders failed to provide all material information to stockholders regarding their right to redeem shares in connection with the merger with Hyzon Motors Inc. The plaintiff claimed that misleading statements and omissions harmed stockholders by discouraging them from redeeming their shares.

The defendants denied all wrongdoing but agreed to settle to avoid the burden, expense and uncertainty of continued litigation.

Sources

1. Class notice
2. Settlement agreement
3. Claim form