The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Publicly-Traded Common Stock of Blue Ridge Bankshares, Inc.

Core Points - The United States District Court for the Eastern District of New York has approved a proposed class action settlement for purchasers of Blue Ridge Bankshares, Inc. common stock [1] - The settlement amount is $2,500,000, and a hearing is scheduled for October 29, 2025, to determine its fairness and adequacy [2][3] Group 1: Settlement Details - The class period for the settlement includes all purchases of Blue Ridge common stock between February 3, 2023, and October 31, 2023 [2] - The proposed plan of allocation for distributing the settlement proceeds will also be evaluated during the hearing [2] - Lead Counsel has requested attorneys' fees of up to one-third of the settlement amount, plus reimbursement of expenses not exceeding $80,000, and a service payment of no more than $3,500 to the Plaintiff [2] Group 2: Participation and Exclusion - Class members must submit a Proof of Claim by October 1, 2025, to be eligible for the distribution of the Net Settlement Fund [3] - Individuals wishing to be excluded from the settlement class must submit a request for exclusion by October 1, 2025 [4] - All members who do not request exclusion will be bound by the judgment entered in the action [4] Group 3: Objections and Inquiries - Any objections to the settlement or related requests must be submitted by October 1, 2025, to specified parties [5] - Questions regarding the settlement can be directed to Lead Counsel, but inquiries should not be made to the court or clerk's office [6]