Published
October 26, 2026
Holders of dMY Technology Group IV Class A stock who kept their shares past the December 1, 2021 redemption deadline for the Planet Labs merger may qualify to claim a pro rata share of the $11 million dMY IV stockholder class action settlement. Claims close January 9, 2027; the settlement hearing is set for December 10, 2026.
Current Status
Claims are open. The deadline is January 9, 2027; claims must be submitted online or received by mail by that date. The Delaware Court of Chancery entered a scheduling order on September 9, 2026, and the settlement hearing is set for December 10, 2026. No payment date had been announced as of October 26, 2026.Free settlement alerts
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Status
Claims Open
Claim Deadline
January 9, 2027
Submitted online or received by mail by that date
Payment
Pro rata share of $11M
Based on each share’s calculated loss · no payment under $10
Proof Required
Yes
Claim form with brokerage documentation of holdings and sales
What Changed Recently?
The defendants in Montealegre v. You, et al., C.A. No. 2024-0869-BWD, a stockholder class action in the Delaware Court of Chancery, agreed to pay $11,000,000 to settle claims over dMY Technology Group, Inc. IV, the special purpose acquisition company (SPAC) that merged with Planet Labs in December 2021 and became Planet Labs PBC. The parties signed the settlement stipulation on September 1, 2026, and Vice Chancellor Bonnie W. David entered a scheduling order on September 9, 2026 directing notice to the class.The lawsuit alleges that dMY IV’s sponsor, directors and officers impaired Class A stockholders’ right to make an informed decision about redeeming their shares before the merger. It claims the defendants caused dMY IV to make materially false and misleading statements about the benefits of the deal, breached their fiduciary duties and were unjustly enriched, and that this dissuaded stockholders from redeeming. The defendants are dMY Sponsor IV LLC, Harry You, Niccolo de Masi, Darla Anderson and Francesca Luthi. They deny all allegations of wrongdoing, breach of duty and liability, and the settlement is not an admission of any of them.
The case was filed on August 19, 2024. Planet Labs PBC was named in the original complaint and dismissed without prejudice in January 2025. The court denied the remaining defendants’ motion to dismiss on September 29, 2025, the parties went through discovery and a May 2026 mediation, and they reached an agreement in principle on June 2, 2026.
Who Qualifies?
The class covers all record and beneficial holders of dMY IV Class A common stock who held shares at any time between 5:00 p.m. ET on December 1, 2021, the redemption deadline, and the closing of the merger on December 7, 2021, including successors who obtained shares by operation of law. The class excludes the defendants, their immediate families, their affiliates, entities they controlled, and their legal representatives and heirs.Payment goes only to Eligible Class Members: those who held dMY IV Class A shares immediately after the redemption deadline that were not submitted for redemption. dMY IV sold 34,500,000 public units in its March 2021 IPO at $10 each, and holders of about 689,670 shares, roughly 2% of the public shares, redeemed before the December 3, 2021 vote. Redeemed shares receive nothing, and warrants and options are not eligible securities.
This is a non-opt-out class. Class members cannot exclude themselves and are bound by the settlement and its release whether or not they file a claim.
How Much Can You Get?
The $11 million fund, plus interest, first pays taxes, notice and administration costs, and any attorneys’ fees and expenses the court awards. Plaintiffs’ counsel will ask for no more than 20% of the settlement amount, including expenses. What remains, the net settlement fund, is split pro rata according to each eligible claimant’s Total Loss, calculated per Eligible Share under the plan of allocation:- A share sold after the close of trading on December 1, 2021 and before the close on August 19, 2024 for less than $10: $10 minus the sale price, plus $0.10.
- A share sold in that same window at $10 or more: $0.10.
- A share still held at the close of trading on August 19, 2024, the date the complaint was filed: $7.26, which is $10 minus Planet Labs’ $2.84 closing price that day, plus $0.10.
Each claimant’s share of the net fund is their Total Loss divided by all claimants’ combined Total Loss. A claimant whose calculated payment is under $10 receives nothing but is still bound by the settlement. The plan of allocation is a method for dividing the fund, not an estimate of what any claimant will receive.
The notice gives no per-share estimate. As a rough illustration only: about 33.8 million public shares were not redeemed. If the full 20% fee were awarded and every one of those shares were claimed at the $7.26 loss for shares still held, the net fund before administration costs and taxes would cover roughly 26 cents per share. Fewer claims, or claims on shares sold at higher prices, change that figure.
What Proof or Notice ID Is Required?
A Proof of Claim and Release form with supporting documentation is required. The claim form asks for the Eligible Shares held after the redemption deadline and any sales, and a loss is calculated only for shares listed on the form with adequate documentation, such as brokerage account statements or confirmations showing holdings and transactions.Transactions outside regular market hours count as the next trading session, fees and commissions are excluded, and trade dates control rather than settlement dates. Shares received by gift or inheritance follow special rules in the plan of allocation, and short sales have no loss.
What Is the Deadline?
Claims must be submitted online or received by mail no later than January 9, 2027. The settlement website and notice do not state a time of day for online filing.Written objections to the settlement, the plan of allocation or the fee request must be filed with the Register in Chancery and received by counsel by November 17, 2026, with brokerage documentation showing the objector is a class member. Because the class is non-opt-out, there is no exclusion deadline.
How Do You Take Action?
Claims are filed through the official settlement website, dMYIVStockholderSettlement.com, run by JND Legal Administration. Its File a Claim page offers an Individual Claim Portal for a single account, an Institutional Claims Filing Portal for institutions and claim filers submitting many accounts, and a downloadable Proof of Claim and Release form.The site’s Important Documents page has the notice, the claim form and the settlement stipulation. Brokers and nominees that held dMY IV shares for others are asked to forward the notice to beneficial owners or send their names to the administrator.
What Happens Next?
The settlement hearing is scheduled for December 10, 2026 at 9:30 a.m. before Vice Chancellor Bonnie W. David at the Court of Chancery Courthouse in Georgetown, Delaware, or remotely at the court’s discretion. The court will decide whether to give final approval, approve the plan of allocation and set the fee award. The notice says the date, time or format can change and that updates are posted on the settlement website.Distributions are made only after the court approves the settlement and the plan of allocation, the time for appeals has passed, and all claims have been processed. If the court does not approve the settlement, no payments are made from the fund.
Sources and Verification
- Official dMY IV Stockholder Settlement website (administered by JND Legal Administration), including the key dates, FAQ and claim filing options.
- Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear, Montealegre v. You, et al., C.A. No. 2024-0869-BWD (Del. Ch.), on the settlement website.
- Stipulation and Agreement of Settlement, Compromise, and Release dated September 1, 2026, and the Scheduling Order entered September 9, 2026.
Questions
Can someone opt out of the dMY IV stockholder settlement?
No. The court certified a non-opt-out class under Delaware Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2), so class members cannot exclude themselves. They are bound by the settlement and its release whether or not they file a claim. A class member who disagrees can file a written objection by November 17, 2026.
Do shares that were redeemed count in the dMY IV settlement?
No. Only Eligible Shares count: dMY IV Class A shares held immediately after the 5:00 p.m. ET December 1, 2021 redemption deadline that were not submitted for redemption. Holders of about 689,670 shares redeemed them before the vote, and no loss is calculated for redeemed shares.
Is Planet Labs paying the dMY IV settlement?
The defendants are dMY Sponsor IV LLC and four former dMY IV directors and officers. Planet Labs PBC was named in the original complaint but was dismissed without prejudice in January 2025. The defendants agreed to cause the $11 million to be deposited into escrow, and the release covers Planet Labs as well as the defendants.
What happens to dMY IV settlement money that is left over?
Checks go stale six months after they are issued. If $50,000 or more remains after follow-up efforts, the administrator redistributes it pro rata to claimants who cashed their first checks and would receive at least $10. Once less than $50,000 remains, it goes to the Delaware Combined Campaign for Justice. None of it returns to the defendants.
How are the lawyers in the dMY IV settlement paid?
Plaintiffs’ counsel will ask the court for fees of no more than 20% of the $11 million, including expenses, paid from the settlement fund. Any service awards to the two named plaintiffs, up to $5,000 each, come out of that fee award rather than from class members’ share. The court decides the amounts.
About This Page
OpenClassActions.com is a consumer news and information site, not a law firm. This article is general information about the dMY IV stockholder settlement. It is not legal advice, and reading it does not create an attorney-client relationship.
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Settlement Amount
$11,000,000
Case Title
Montealegre v. You, et al.
Case Number
C.A. No. 2024-0869-BWD
Court
Court of Chancery of the State of Delaware
Final Approval Hearing
December 10, 2026 at 9:30 AM
Vice Chancellor Bonnie W. David · Georgetown, Del., or remote
Administrator
JND Legal Administration
Official Website
dMY IV Stockholder Settlement.com
