MoneyLion Class Action Lawsuit
The Martel v. Fusion Sponsor LLC settlement over the MoneyLion merger is closed to new claims. The deadline to file a claim passed on September 2, 2025.
What happens next with the MoneyLion settlement
The claim deadline passed on September 2, 2025. New claims for this settlement are no longer being accepted.
The court held its approval hearing on July 24, 2025. That was the final approval hearing, where a judge decides whether to approve the settlement. Nothing is paid out until that approval is final.
Payments come after approval, and after any appeals. Anyone who objected to the settlement can ask a higher court to look at it again — an appeal — and that has to finish first. Eligible payments are sent once approval is final, and the stretch from a claim deadline to money in hand often runs a year or more. It varies from one settlement to the next.
Filed this claim with Chimo? The status of your claim is on the claims page in your account.
Settlements you can still claim in October 2026
Visa & Mastercard
$380
Neutrogena (Illinois Only)
$731
Generic Drug Makers (State AGs)
$59
MoneyLion Class Action Lawsuit
Fusion Acquisition Corp. stockholders sued Fusion's sponsor and directors, and two others they say helped , saying misleading statements about Fusion's September 2021 merger with MoneyLion talked them out of redeeming their shares for cash.
Fusion Acquisition Corp. was a special purpose acquisition company, often called a SPAC. A SPAC raises money from investors, holds it in a trust account, and then merges with a private company. Before the merger, each stockholder could redeem their shares, which means trading them back for cash from the trust. In this case, the deadline to redeem was September 17, 2021, and after the merger closed the company was renamed MoneyLion Inc.
Martel v. Fusion Sponsor LLC was filed on March 29, 2024 (made public on April 3, 2024), in the Court of Chancery of the State of Delaware, case number 2024-0329-NAC. According to the settlement notice, the lawsuit claimed that the people who ran Fusion made false and misleading statements about the benefits of the merger, and that this talked stockholders out of redeeming their shares. The claims were breach of fiduciary duty (the duty a company's leaders owe to act honestly and in stockholders' interest), helping others breach that duty, and unjust enrichment (profiting unfairly at someone else's expense).
The defendants deny any wrongdoing, and the case was settled.
MoneyLion Class Action Settlement - $12,750,000
The settlement is between the stockholders who sued and the defendants: Fusion Sponsor LLC, five people connected to Fusion, Diwakar Choubey and Broadhaven Capital Partners, LLC. In the settlement, MoneyLion and its insurance carriers agreed to pay $12,750,000 in cash on the defendants' behalf. MoneyLion itself was not a defendant.
The lawyers for the class asked the court for $2,295,000, 18% of the fund, to cover their fees and expenses; service awards of up to $5,000 for each of the two stockholders who sued come out of that amount. Money left after redistribution, once it is under $50,000, goes to the Combined Campaign for Justice, a charity in Wilmington, Delaware, and none returns to the defendants.
Under the proposed plan for dividing the money, each eligible share was to get a base amount of $0.10 whether or not a claim was filed, though no one was to be paid a total under $10. A larger share of the fund depended on filing a claim form with documents showing the shares held or sold. The notice said the court could change this plan at the July 24, 2025, hearing.
The settlement hearing was set for July 24, 2025, before Vice Chancellor Nathan A. Cook. The deadline to object passed on July 9, 2025. The deadline to file a claim passed on September 2, 2025. Class members could not exclude themselves from this settlement.
Claims closed: September 2, 2025
MoneyLion Stockholder Class Action Payout: Est. at least $1.15 per share with a claim
Chimo estimates at least $1.15 for each eligible share listed on a valid claim, including the $0.10 base amount. That is the $10,455,000 left from the $12.75 million fund after the $2,295,000 the class's lawyers requested for fees and expenses, less about $0.9 million in $0.10 base payments on the 9,112,013 shares that were not redeemed, divided as if every one of those shares had been claimed at the plan's top value of $7.63 a share.
Fewer shares claiming would raise the figure, and the cost of running the settlement, which the court papers do not state, would lower it. Under the plan, no one is paid a total under $10, so holders of fewer than 100 shares who did not file a claim receive nothing.
Similar SPAC Settlements: Payout per Share
MoneyLion Stockholder Class Action Eligibility
The settlement covered people who held Fusion Acquisition Corp. Class A common stock at the redemption deadline of September 17, 2021, and chose not to redeem all or some of those shares. Their heirs, and others who received the shares automatically, such as through an estate, were included too. The defendants, their families and companies they control were not.
FAQ
No. The settlement website says the deadline to file a claim form passed on September 2, 2025. A claim sent now will not be accepted.
The proposed plan for dividing the money gave each eligible share a base amount of $0.10 without a claim, but only if a stockholder's total came to $10 or more, so holders of fewer than 100 shares needed a claim to get anything. A larger share of the fund depended on filing a claim form with documents by September 2, 2025. The notice said the court could change this plan at the July 24, 2025, hearing. For your own shares, contact the settlement administrator, A.B. Data.
The settlement website does not give a payment date. It says only that the money is divided after the court approves the settlement and any appeals are resolved, and that the distribution will take some time. Stockholder settlements often take a year or more after the claim deadline to pay out, though that varies.
Contact the settlement administrator: MoneyLion Stockholder Settlement, c/o A.B. Data, Ltd., P.O. Box 173115, Milwaukee, WI 53217. You can also call 1-877-390-3144 or email info@MoneyLionStockholderSettlement.com.
The lawsuit said the people who ran Fusion Acquisition Corp. gave stockholders misleading information about the merger with MoneyLion, which discouraged them from redeeming their shares for cash before September 17, 2021. The defendants deny any wrongdoing.