Investors who held Revolution Acceleration Acquisition Corp. (RAAC) Class A common stock as of July 16, 2021, and chose not to redeem all or some of their shares may be eligible to receive a cash payment from a class action settlement.
Overview
RAAC Management LLC and related defendants agreed to resolve a Delaware Court of Chancery lawsuit alleging breaches of fiduciary duty, aiding and abetting those breaches and unjust enrichment related to RAAC’s 2021 merger with Berkshire Grey Inc. The lawsuit claimed that misleading disclosures prevented shareholders from making informed redemption decisions and reduced the value of their shares.
Who Is Eligible?
To qualify, class members must meet all of the following:
- Held RAAC Class A common stock as of the close of trading on July 16, 2021 (the redemption deadline).
- Chose not to redeem all or some of those shares during the merger process.
- Are the original holder or a lawful successor (including inheritance or operation of law).
Additional details:
- Both individuals and entities qualify.
- Nominees or brokers holding shares for others must forward the notice and claim form to the beneficial owners or provide their contact information to the settlement administrator.
- This is a non–opt-out settlement under Delaware Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2), meaning class members cannot exclude themselves.
Settlement Benefits
The total settlement fund is $7,500,000. After deductions for taxes, notice costs, administration costs and attorneys’ fees and expenses, the remainder will be distributed to eligible class members.
Payments are calculated in two parts:
Base distribution:
All eligible class members receive $0.10 per eligible share automatically, even without submitting a claim form.
Recognized claim (requires a filed claim form):
For each share with supporting documentation:
- Shares sold between July 16, 2021, and July 20, 2023, at less than $10 per share: claim value equals $10 minus the sale price.
- Shares held after July 20, 2023: claim value is $8.60 per share (representing $10 redemption price minus the $1.40 SoftBank acquisition price of Berkshire Grey).
- Shares with negative results receive $0.
The claims administrator will distribute the net settlement fund pro rata based on each class member’s recognized claim.
Payout formula:
Number of eligible shares × recognized value per share = recognized claim
Then: (individual recognized claim ÷ total recognized claims) × net settlement fund = payout amount
How to File a Claim
Class members may file a claim online or submit a printed claim form by mail.
Deadline: February 21, 2026.
Mailing address:
RAAC Stockholder Settlement
c/o A.B. Data Ltd.
P.O. Box 173123
Milwaukee, WI 53217
Required Documentation
Claimants must provide:
- The last four digits of their Social Security number or full taxpayer ID number.
- Documentation showing all of the following:
- RAAC Class A holdings as of July 16, 2021
- Purchases and sales of RAAC or Berkshire Grey stock from July 17, 2021, through July 20, 2023
- Berkshire Grey holdings as of July 20, 2023
Acceptable proof includes broker statements, confirmation slips or equivalent records. Claims without sufficient documentation may be denied.
Payment Options
Payments will be issued by check or electronic payment to the authorized claimant (the beneficial owner of the account). Third-party filers cannot receive payments.
Settlement Fund Breakdown
The $7.5 million settlement fund includes:
- Notice and administration costs: to be determined
- Attorneys’ fees and expenses: up to $1,500,000
- Service award to the class representative: up to $1,000 (paid from attorneys’ fees)
- Payments to eligible class members: the remaining settlement funds
Important Dates
- Fairness hearing: December 11, 2025
- Claim deadline: February 21, 2026
Reason for the Settlement
The lawsuit alleged that RAAC Management LLC and related defendants failed to disclose material information about the Berkshire Grey merger and made misleading statements affecting shareholders’ redemption decisions. The defendants deny all wrongdoing but agreed to settle to avoid the costs and uncertainties of continued litigation.
