What is the timeline for the upcoming deadline and possible settlement dates?

Timeline – Deadline and Settlement Outlook

The Gross Law Firm’s notice to FI shareholders was released on August 14 2025. The firm’s filing specifies a 30‑day “claims‑submission” deadline, which expires on September 13 2025. That date is the last day shareholders can formally submit a claim or contact the firm for consideration as a lead plaintiff. No settlement date is disclosed in the filing, but the typical litigation timetable for a class‑action of this size suggests that any settlement or court‑approved resolution would most likely be announced between the fourth and sixth quarter of 2025 (i.e., October 2025‑March 2026). The exact settlement date will depend on the pace of discovery, any settlement negotiations, and the court’s docket, but market participants typically see a settlement window opening roughly 6‑12 months after the deadline, once the lead plaintiff is appointed and the class is certified.

Trading Implications

• Short‑term: Expect heightened volatility in FI’s stock leading up to the September 13 deadline as investors assess the risk of a sizable liability and the potential for a large, undisclosed settlement amount. Options premiums, especially near‑term puts, may widen as traders price in the “unknown‑settlement” risk.
• Medium‑term: If the plaintiff appointment is announced shortly after the deadline, the stock may experience a short‑term spike (positive if the lead plaintiff is perceived as “hard‑nosed” and likely to negotiate a favorable settlement) or a sell‑off (if the market anticipates a large payout). Historical precedent for similar fintech‑industry class actions shows a 5‑15 % price swing over the 2‑4‑week window surrounding the appointment announcement.
• Actionable: Consider defensive positioning (e.g., buying protective put spreads with strikes ~5 % below current levels, expiring after the anticipated settlement window—late Q4‑2025) to hedge downside risk, while simultaneously scaling into a modest long position if you believe the lawsuit will be settled on modest terms (e.g., a settlement under $0.10 per share). Keep a close eye on any subsequent court filings; a settlement announcement before year‑end could trigger a rapid rebound, making a bull‑call spread (e.g., 0‑45‑day expiration) a low‑cost way to capture upside while limiting downside.

Overall, the September 13 deadline is the key date to watch; the market will likely price in the settlement risk over the next 3‑6 months, so positioning should reflect that timeline.