Expensify Inc. agreed to pay $9.5 million to resolve allegations that it misled investors in its initial public offering about the prospects for its bottom-up business model and effects of price hikes.
The investor leading the case Thursday sought the deal’s preliminary approval and certification of settlement class of those who bought Expensify stock pursuant or traceable to its 2021 IPO registration statement.
If ultimately approved by the US District Court for the District of Oregon, the settlement would end allegations against the spending-management company, then-leadership, and its IPO underwriters. The settlement class’s counsel will apply for attorneys’ fees up ...