secwatch.observer — SEC 8-K summary
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Issuer:     Ouster, Inc. (OUST)
CIK:        0001816581
Form:       8-K
Filed at:   2024-03-14T23:59:59+00:00
Accession:  0001193125-24-067953
Event type: litigation
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1816581/000119312524067953/0001193125-24-067953-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1816581/000119312524067953/d783200d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-067953

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer