Published
October 3, 2026
Investors who bought WM Technology, the Weedmaps parent, common stock or warrants, or Silver Spike Acquisition Corp. securities, between May 25, 2021 and September 24, 2024 may qualify to claim a pro rata cash payment from the $7.5 million WM Technology securities class action settlement. Claims close October 30, 2026, and the final approval hearing is set for January 11, 2027.
Current Status
Claims are open. Online claims are due by 11:59 p.m. Eastern Time on October 30, 2026, and mailed claims must be postmarked by the same date. The court granted preliminary approval on July 20, 2026, and the final approval hearing is scheduled for January 11, 2027. No payment date has been announced; payments depend on final approval and the completion of claims processing.Free settlement alerts
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Status
Claims Open
Claim Deadline
October 30, 2026
11:59 p.m. ET online · postmark for mail
Estimated Payout
Pro rata
Est. average $0.072 per security before fees · $0.047 after
Proof Required
Yes
Broker confirmations or statements for each trade
What Changed Recently?
WM Technology, Inc., which operates the Weedmaps cannabis marketplace and trades on Nasdaq under the ticker MAPS, and the individual defendants named in the case agreed to pay $7.5 million to resolve Ishak v. WM Technology, Inc., a securities class action in the U.S. District Court for the Central District of California. The parties signed a Stipulation of Settlement on May 14, 2026, and Judge Otis D. Wright II granted preliminary approval on July 20, 2026, which started the notice and claims process run by Strategic Claims Services.The complaint alleges that WM Technology misrepresented the growth of active users on its Weedmaps website and app, that those statements inflated the price of its securities, and that the price fell when the alleged truth came out. The defendants deny each claim and any wrongdoing, and the case did not go to trial.
Who Qualifies?
The settlement class is everyone who purchased or otherwise acquired WM Technology Securities between May 25, 2021 and September 24, 2024, both dates inclusive. That definition covers two sets of publicly traded securities:- Silver Spike Acquisition Corp. common stock and warrants bought from May 25, 2021 through June 15, 2021, before the blank-check company combined with the Weedmaps business and took the WM Technology name.
- WM Technology common stock and warrants bought from June 16, 2021 through September 24, 2024.
Excluded are people who suffered no compensable loss; the defendants; WM Technology’s present and former officers and directors at all relevant times; their immediate families, legal representatives, heirs, successors and assigns; any entity in which WM Technology or an excluded person has or had a majority ownership interest; and anyone who submits a valid request for exclusion. Shares or warrants received by gift, inheritance or operation of law are not treated as purchases, and the covering purchase of a short sale is not eligible.
How Much Can You Get?
Each authorized claimant receives a pro rata share of the net settlement fund — the $7.5 million plus interest, minus court-approved fees, expenses and administration costs. The notice estimates an average recovery of about $0.072 per allegedly damaged security before deductions, across roughly 104.6 million securities, and about $0.047 per security after the requested fees and expenses. Those are averages; individual payments depend on when the securities were bought and sold, the prices paid, and how many valid claims are filed.The plan of allocation assigns per-share inflation by purchase date. For common stock it is $1.59 for purchases from May 25, 2021 to August 9, 2022, $0.67 from August 10, 2022 to November 7, 2022, and $0.02 from November 8, 2022 to September 24, 2024. Warrants use $0.35, $0.15 and $0.01 for the same windows. A claimant’s recognized loss is generally the lesser of the inflation lost and the actual trading loss, with the federal 90-day look-back limit applied to securities held after the class period: a mean closing price of $1.03 per share for common stock and $0.03 per warrant for September 25 through December 23, 2024. Purchases and sales are matched first-in, first-out. No payment is made on a claim worth less than $10.00.
Lead Counsel, The Rosen Law Firm, will ask the court for attorneys’ fees of up to one-third of the fund ($2.5 million) plus interest, up to $100,000 in litigation expenses, and an award to the plaintiffs of no more than $15,000 in total, all paid from the settlement fund.
What Proof or Notice ID Is Required?
Documentation is required. The Proof of Claim and Release asks for every purchase and sale of WM Technology common stock and warrants from May 25, 2021 through December 23, 2024, with copies of broker confirmation slips, brokerage statements or other documents evidencing each transaction. The form says those documents are necessary to prove and process the claim and directs claimants who lack them to obtain copies from their broker. Claimants with a large number of transactions may also be asked for an electronic spreadsheet.The claim form does not require an administrator-issued notice ID, so investors who never received the postcard notice can still file with their own trading records.
What Is the Deadline?
Online claims must be submitted by 11:59 p.m. Eastern Time on October 30, 2026. Paper claims, with all requested documentation, must be postmarked no later than October 30, 2026. Requests for exclusion and objections are due the same day.How Do You Take Action?
The official WM Technology Securities Litigation page at Strategic Claims Services hosts the online claim form, the long notice with the printable Proof of Claim, the preliminary approval order and the stipulation. Online filers receive an automated confirmation email once the claim is submitted. Brokers, nominees and other representative filers submitting on behalf of clients use the separate electronic filing template and instructions posted on the same page.What Happens Next?
The court will hold the final approval hearing on January 11, 2027, at 1:30 p.m. in Courtroom 5D of the Felicitas and Gonzalo Mendez U.S. Courthouse in Los Angeles to consider the settlement, the plan of allocation and the fee request. The court may change the date or format without further mailed notice; updates are posted on the administrator’s page. If the settlement is approved, distribution follows the resolution of any appeals and the completion of claims processing.Sources and Verification
- WM Technology, Inc. Securities Litigation — Strategic Claims Services case page
- Notice of Pendency and Proposed Settlement of Class Action and Proof of Claim and Release Form
- Order Granting Motion for Preliminary Approval (July 20, 2026), Ishak v. WM Technology, Inc., No. 2:24-cv-08959-ODW-PVC (C.D. Cal.)
- Stipulation of Settlement with exhibits (May 14, 2026)
Questions
Do Silver Spike Acquisition Corp. shares count?
Yes. WM Technology went public by merging with the Silver Spike Acquisition Corp. blank-check company. Publicly traded Silver Spike common stock and warrants bought from May 25, 2021 through June 15, 2021 are covered, along with WM Technology common stock and warrants bought from June 16, 2021 through September 24, 2024.
Are warrants paid differently from common stock?
Yes. The plan of allocation uses a separate inflation table for warrants: $0.35 per warrant for purchases from May 25, 2021 to August 9, 2022, $0.15 from August 10, 2022 to November 7, 2022, and $0.01 from November 8, 2022 to September 24, 2024. Common stock uses $1.59, $0.67 and $0.02 for the same periods.
Why does the claim form ask for trades after the class period ended?
The plan matches purchases and sales first-in, first-out and applies a 90-day look-back after the class period, so the form asks for every WM Technology common stock and warrant transaction from May 25, 2021 through December 23, 2024, plus holdings at the start and end of that span.
Is there a minimum payment?
Yes. No distribution is made on a claim where the calculated payment is less than $10.00.
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Settlement Amount
$7,500,000
Case Title
Ishak v. WM Technology, Inc., et al.
Case Number
2:24-cv-08959-ODW-PVC
Court
U.S. District Court, Central District of California
Final Approval Hearing
January 11, 2027 at 1:30 PM
Judge Otis D. Wright II, Courtroom 5D, Los Angeles
Administrator
Strategic Claims Services
Official Website
Strategic Claims — WM Technology
