Ouster settles Velodyne securities class action for $27.5M; expects $4.125M accrual

Ouster, Inc.

Settlement of $27.5M in Moradpour v. Velodyne Lidar, No. 3:21-cv01486-SI (N.D. Cal.).
Insurance proceeds expected to cover ~$23.375M; Ouster to accrue ~$4.125M in Q4 2023.
No admission of wrongdoing or liability by Velodyne, individual defendants, or Ouster.
Settlement is preliminary; subject to final documentation and court approval.

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