$70M Shoals Securities Settlement — Claim by Aug 25, 2026

Shoals Technologies SHLS securities class action settlement — $70 million for 2022–2024 stock investors

Published: June 8, 2026

Status Claims Open

Claim Deadline August 25, 2026 settlement hearing September 28, 2026 at 9:00 a.m. CT · opt-out/object by September 4, 2026

Estimated Payout ~$0.34 per damaged share (avg) $70,000,000 cash fund · pro rata by Recognized Loss · no payment under $10.00

Proof Required Yes brokerage records of your SHLS purchases, sales & holdings

What Is the Shoals Securities Settlement About?

Did you buy or otherwise acquire Shoals Technologies Group, Inc. common stock (NASDAQ: SHLS) between May 16, 2022 and May 7, 2024? A $70,000,000 cash settlement has been reached in the securities class action In re Shoals Technologies Group, Inc. Securities Litigation, and you may be eligible to file a claim for a share of the fund. The deadline to submit a Claim Form is August 25, 2026.

The case is pending in the United States District Court for the Middle District of Tennessee, Case No. 3:24-cv-00334. The lawsuit alleges that Shoals, certain of its former officers and directors, and the underwriters of the company's December 2022 secondary public offering violated the federal securities laws by making materially false and misleading statements and failing to disclose material information. According to the complaint, those statements permitted Shoals to conduct the December 2022 secondary offering and kept the SHLS stock price artificially inflated until the alleged truth was revealed, after which the stock price fell and investors were damaged.

The complaint asserts claims under Sections 10(b), 20(a), and 20A of the Securities Exchange Act of 1934 and Sections 11 and 15 of the Securities Act of 1933. Shoals and the other defendants deny any wrongdoing and maintain that they acted in good faith and that their disclosures were not false or misleading. The Court has not decided in favor of either side — the settlement is a compromise that ends the litigation and provides a guaranteed cash recovery for the class. The Settlement Amount of $70,000,000 will earn interest and be reduced by Court-approved attorneys' fees, litigation expenses, awards to the plaintiffs, notice and administration costs, and any taxes on interest before being distributed to eligible claimants.

Who Qualifies for the Settlement Class?

The Settlement Class includes all persons and entities who purchased or otherwise acquired Shoals Technologies Group common stock during the Class Period — from May 16, 2022 through May 7, 2024, inclusive — including purchasers in Shoals' December 2022 secondary public offering, and who were allegedly damaged.

During the Class Period, Shoals Class A common stock traded on the NASDAQ under the ticker symbol SHLS.

Certain parties are excluded from the Settlement Class, including: the defendants; the underwriter defendants; the immediate families of the individual defendants; any person who was an officer or director of Shoals during the relevant time and their immediate families; any entity in which the defendants have or had a controlling interest; and the legal representatives, heirs, successors, and assigns of any excluded person or entity. Anyone who validly and timely requests exclusion from the class is also excluded. Certain investment vehicles are not excluded; the official notice explains those details.

Receiving a notice does not automatically mean you are a class member or that you will receive money. The parties do not have access to your individual trading records, so you must check your own brokerage statements (or contact your broker) to confirm your SHLS transactions, and you must submit a Claim Form to be eligible for a payment.

How Much Can You Get?

Your payment depends on several factors, including when you bought and sold your Shoals shares, the prices you paid and received, and the total Recognized Losses of all valid claims filed. Because the money is divided proportionally, no one can tell you an exact amount in advance.

The notice provides estimates to give class members a sense of scale:

• Estimated average gross distribution: about $0.34 per damaged share, before deduction of taxes, notice and administration costs, and attorneys' fees and expenses.
• If the requested fees and expenses are approved, the notice estimates the average cost will be about $0.11 per share.

These figures are estimates only and are not a promise of what you will receive. Your actual recovery is calculated under the Court-approved Plan of Allocation, which assigns a "Recognized Loss" to each eligible share based on when it was purchased and sold relative to the alleged inflation and the corrective disclosure periods. The Plan applies the first-in, first-out (FIFO) method to match purchases and sales, and incorporates the Private Securities Litigation Reform Act's 90-day "look-back" rule, which uses an average closing price of $4.92 for shares held through February 10, 2025.

Shares purchased directly in the December 2022 secondary public offering receive an enhanced Recognized Loss — the amount calculated under the Plan is multiplied by 1.25 — reflecting the additional Securities Act claims tied to that offering. After all claims are processed and the Court grants final approval, each authorized claimant receives a pro rata share of the Net Settlement Fund equal to their Recognized Loss divided by the total Recognized Losses of all claimants. The settlement administrator will not issue any distribution of less than $10.00.

What Did Shoals Allegedly Do?

Shoals is a manufacturer of electrical balance-of-system components and solutions for solar, energy storage, and electric-vehicle charging projects. The complaint focuses on the company's public statements during the Class Period and the disclosures made in connection with its December 2022 secondary stock offering.

Plaintiffs allege that the defendants made material misstatements and omissions that artificially inflated the price of Shoals common stock and allowed the company to complete the December 2022 secondary offering at inflated prices. When information that allegedly corrected those statements reached the market, the stock price declined, removing the alleged inflation and causing losses to investors who had bought during the Class Period.

On September 30, 2025, the Court issued an order granting in part and denying in part the defendants' motion to dismiss, allowing core claims to proceed. The case never went to trial; instead, after three mediation sessions with an experienced mediator, both sides accepted a mediator's proposal to settle for $70 million. The defendants continue to deny all allegations of wrongdoing, and the settlement is not an admission of liability by anyone.

How to File a Shoals Claim

To receive a payment, you must submit a Proof of Claim and Release Form. There are two ways to file, both with the same August 25, 2026 deadline:

Method 1: Online. Complete and submit the Claim Form electronically through the official Settlement Website on or before August 25, 2026. When you submit online, you will receive a claim number on a confirmation page — print and keep it as proof of submission.

Method 2: U.S. Mail. Download the printable Claim Form from the official Settlement Website, complete it, attach your supporting documentation, and mail it to the Claims Administrator so that it is postmarked no later than August 25, 2026.

Before you file, gather your brokerage records. Your Claim Form asks you to list and document, in chronological order, your holdings of Shoals common stock at the start of the relevant period and every purchase, acquisition, and sale of Shoals common stock during the period (trade date, number of shares, and price per share), along with your holdings at the relevant closing dates.

Brokerage confirmations or monthly account statements showing trade dates, share quantities, and prices are the documents the administrator typically accepts. Keep copies of everything you submit, and do not send original documents.

Claim Form Website: ShoalsSecuritiesSettlement.com

Submit Claim

Key Shoals Settlement Deadlines

• Class Period: May 16, 2022 through May 7, 2024 (inclusive), including the December 2022 secondary offering
• Exclusion (opt-out) deadline: postmarked or received by September 4, 2026
• Objection deadline: received by the Court and counsel by September 4, 2026
• Claim Form deadline: submitted online or postmarked by August 25, 2026
• Settlement Hearing: September 28, 2026 at 9:00 a.m. Central Time, Fred D. Thompson U.S. Courthouse and Federal Building, 719 Church Street, Nashville, TN

The Court may change the date or time of the Settlement Hearing, or hold it remotely, without further mailed notice. Check the official Settlement Website before the hearing if you plan to attend.

When Will Payments Be Made?

Payments cannot be made until after the Court approves the settlement at the September 28, 2026 hearing and the approval becomes final. If anyone appeals, distribution can be delayed — sometimes by more than a year — and it also takes time for all Claim Forms to be processed. There is no fixed payment date; the notice asks class members to be patient.

Your Options: Claim, Exclude Yourself, Object, or Do Nothing

As a Settlement Class Member, you have several choices, each with consequences:

• Submit a Claim Form — the only way to receive a payment. Deadline: August 25, 2026.
• Exclude yourself (opt out) — you receive no payment but keep the right to sue the defendants separately about the released claims. A written request with documentation of your SHLS transactions must be postmarked or received by September 4, 2026. You cannot opt out by phone or email.
• Object — stay in the class but tell the Court in writing why you disagree with the settlement, the Plan of Allocation, or the fee request. Objections must be received by September 4, 2026.
• Do nothing — you receive no payment and, unless you opt out, you are still bound by the settlement and give up your right to sue over the released claims.

Attorneys' Fees and Expenses

Lead Counsel will ask the Court to award attorneys' fees of up to 30% of the Settlement Amount, plus litigation expenses not to exceed $650,000, plus interest on both amounts at the same rate earned by the Settlement Fund. In addition, the plaintiffs may request awards not to exceed $40,000 in the aggregate under 15 U.S.C. §78u-4(a)(4) in connection with their representation of the class. The Court may award less than these amounts, and any amounts approved come out of the Settlement Fund.

Watch Out for Settlement Scams

With any securities settlement, be cautious about how you file and who you share information with:

• Use the official Settlement Website only: ShoalsSecuritiesSettlement.com. Bookmark it, and be wary of emails or texts linking to a similar-looking page on a different domain.
• Never pay a fee. Legitimate class action settlements never charge an activation, release, or processing fee to send you your money.
• Share only what is needed. The Claims Administrator needs your transaction documentation and contact details — not banking passwords or unrelated personal data.
• If you lost your notice or need help, use the contact form on the official Settlement Website rather than responding to unsolicited messages.

Frequently Asked Questions About the Shoals Settlement

What is the Shoals Technologies securities settlement?

A $70,000,000 cash settlement resolving In re Shoals Technologies Group, Inc. Securities Litigation, No. 3:24-cv-00334, in the U.S. District Court for the Middle District of Tennessee. The lawsuit alleged that Shoals and certain executives and underwriters made materially false and misleading statements that allowed Shoals to conduct a December 2022 secondary stock offering and kept the stock price artificially inflated. Defendants deny any wrongdoing.

Who is included in the Shoals Settlement Class?

All persons and entities who purchased or otherwise acquired Shoals Technologies Group common stock (NASDAQ: SHLS) between May 16, 2022 and May 7, 2024, inclusive, including purchasers in Shoals' December 2022 secondary public offering, and were allegedly damaged. Defendants, the underwriter defendants, Shoals officers and directors and their immediate families, and certain related parties are excluded.

How much money can I get from the Shoals settlement?

Your payment depends on when you bought and sold SHLS shares, your prices, and the total valid claims filed. The notice estimates an average distribution of about $0.34 per damaged share before deductions. These are estimates only; your actual recovery is calculated under the court-approved Plan of Allocation, and no distribution under $10.00 will be made.

What is the deadline to file a Shoals claim?

Claim Forms must be submitted online or postmarked by August 25, 2026. Requests for exclusion and objections must be received by September 4, 2026. The Court will hold a Settlement Hearing on September 28, 2026 at 9:00 a.m. Central Time.

What proof do I need to file a Shoals claim?

Yes, documentation is required. You must list and document each purchase and sale of Shoals common stock during the relevant periods, plus your holdings at the start and end of the period. Brokerage confirmations or account statements showing trade dates, share quantities, and prices are the typical supporting documents.

What happens if I do nothing?

If you do nothing, you will not receive a payment, and unless you exclude yourself, you will still be bound by the settlement and give up your right to sue the defendants over the released claims. The only way to receive money is to submit a valid Claim Form by August 25, 2026.

Official Settlement Notice

Sources

• Notice of Pendency and Proposed Settlement of Class Action, In re Shoals Technologies Group, Inc. Securities Litigation, No. 3:24-cv-00334 (M.D. Tenn.)
• Stipulation and Agreement of Settlement, dated April 28, 2026
• Official Settlement Website: ShoalsSecuritiesSettlement.com
• Lead Counsel: Robbins Geller Rudman & Dowd LLP and Motley Rice LLC
• Defendants' Counsel: Latham & Watkins LLP; Allen Overy Shearman Sterling US LLP

Filing Class Action Settlement Claims

Please submit only truthful information through the official Settlement Website, and document your SHLS transactions accurately. The official Settlement Website is the authoritative source for benefit amounts, deadlines, and filing instructions. If you are unsure whether you qualify, contact the Claims Administrator through the Settlement Website. OpenClassActions.com is a consumer news site and is not the Claims Administrator, Lead Counsel, or a law firm, and we do not process or decide claims.

Settlement Amount $70,000,000

Case Title In re Shoals Technologies Group, Inc. Securities Litigation

Case Number 3:24-cv-00334

Court U.S. District Court, Middle District of Tennessee

Class Period May 16, 2022 – May 7, 2024

Claim Deadline August 25, 2026

Settlement Hearing September 28, 2026 at 9:00 a.m. CT 719 Church Street, Nashville, TN

Administrator Verita Global

Lead Counsel Robbins Geller Rudman & Dowd LLP; Motley Rice LLC

Official Website Shoals Securities Settlement.com

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