The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of Arrival SA and/or CIIG Merger Corp. – ARVLF

BROOKLYN, N.Y., Dec. 08, 2025 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Eastern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of securities of Arrival SA and/or CIIG Merger Corp. (OTCMKTS: ARVLF):

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Eastern District of New York, that a hearing will be held on March 17, 2026 at 10:00 a.m. before the Honorable Peggy R. Kuo, United States Magistrate Judge of the Eastern District of New York, 225 Cadman Plaza East, Courtroom 11C South, Brooklyn, NY 11201, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration of a cash sum of $11,275,000, plus a reserved cash amount of $2,000,000, the unused portion of which will revert to the Settlement Fund, should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for an award of attorneys’ fees of up to one-third plus interest of the Settlement Fund, reimbursement of expenses of not more than $325,000, and a service payment of no more than $30,000 in total to Plaintiffs, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement, dated June 23, 2025 (the “Stipulation”). The Court reserves the right to hold the Settlement Fairness Hearing telephonically or by other virtual means.

If you: (1) purchased or otherwise acquired the publicly traded securities of Arrival SA (“Arrival”) and/or CIIG Merger Corp. (“CIIG”) between November 18, 2020 and November 19, 2021, both dates inclusive (“Class Period”), and have suffered compensable damages thereby; and/or (2) beneficially owned and/or held common stock of CIIG, eligible to vote at CIIG’s special meeting and/or to redeem your CIIG stock prior to the closing of the March 24, 2021 Business Combination, your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in CIIG and/or Arrival shares. If you have not received a detailed Notice of Pendency and Proposed Partial Settlement of Class Action (“Long Notice”) and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to or calling the Claims Administrator: Arrival SA Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 205, Media, PA 19063; (Toll-Free) (866) 274-4004; (Fax) (610) 565-7985; info@strategicclaims.net. You can also download copies of the Long Notice and submit your Proof of Claim and Release Form online at www.strategicclaims.net/Arrival/. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form electronically or postmarked no later than February 24, 2026 to the Claims Administrator, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.

If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than February 24, 2026, in the manner and form explained in the Long Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Stipulation.

Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Plaintiffs must be in the manner and form explained in the detailed Long Notice and received no later than February 13, 2026, by each of the following:

If you have any questions about the Settlement, you may call or write to Lead Counsel: