Everbridge Securities Class Action Settlement

Investors who purchased or otherwise acquired Everbridge, Inc. common stock (Nasdaq: EVBG) between February 18, 2020 and February 24, 2022 may qualify for a pro rata share of an $85,000,000 securities class action settlement. Claim Forms must be submitted online or postmarked by November 25, 2026. Before you spend time on the form, check the limit that decides most of these claims: under the Plan of Allocation, shares bought during the class period but sold before December 10, 2021 have a Recognized Loss of $0.00, which covers positions closed inside roughly the first 22 months of the 24-month class period. To collect, your shares generally had to be held through the close on December 9, 2021 or February 24, 2022. The headline $2.32 a share is an average before fees and assumes every eligible investor files; the notice puts it at about $1.65 after fees. The $42.16 look-back price cap bites only on shares still held after May 25, 2022, not on the settlement as a whole, and nothing is paid where your prorated amount comes to less than $10.00. Only common stock counts, mutual fund investors are not class members, and brokerage records are required.

Do I Qualify?

You may be eligible if:

• You may qualify if you purchased or otherwise acquired Everbridge, Inc. publicly traded common stock during the period from February 18, 2020 through February 24, 2022, both dates inclusive, and were allegedly damaged. Everbridge traded on the Nasdaq under the ticker EVBG throughout that window. Qualifying for the Settlement Class is not the same as having a payable claim, and here the distance between the two is the whole story. Under the Plan of Allocation, Class Period shares sold before December 10, 2021 produce a Recognized Loss Amount of zero, because the first alleged corrective disclosure comes after the close of trading on December 9, 2021. An investor who bought in March 2020 and sold in June 2021 is squarely inside the class definition, is bound by the release unless they opt out, and recovers nothing. In practical terms your shares generally must have been held through at least one of the two alleged corrective disclosures, at the close on December 9, 2021 or on February 24, 2022. Note also that the class period starts in February 2020 rather than November 2019: the first amended complaint reached back to November 4, 2019, but when the Ninth Circuit partly revived the case in July 2025 its ruling effectively shortened the class period, and the settlement uses the shorter February 18, 2020 window. Everbridge publicly traded common stock is the only security eligible for a recovery, so options, warrants and bonds are not separately claimable, though stock acquired or sold by exercising an option counts at the exercise date and exercise price. Owning Everbridge through a mutual fund does not make you a class member — only shares you individually bought or acquired count, although the fund itself may be a class member. Excluded are Defendants Everbridge, David Meredith and Patrick Brickley; the Immediate Family of either individual Defendant; anyone who was an officer, director or control person of Everbridge during the Class Period; any firm, trust, corporation or other entity in which a Defendant has or had a controlling or beneficial interest; Everbridge's employee retirement and benefit plans and their participants or beneficiaries, to the extent purchases were made through those plans; the legal representatives, affiliates, heirs, successors-in-interest or assigns of any excluded person; and anyone whose valid request for exclusion is received by November 25, 2026.

Documentation is required for every transaction you report, and there is no document-free tier in this settlement. No notice ID or PIN gates the online form and the postcard notice is not needed to file — your own broker paperwork is what gates the claim. Copies of broker trade confirmations or other documentation of the transactions must be attached to the Claim Form, and the form states plainly that failure to provide this documentation could delay verification of your claim or result in rejection. The Claim Form asks for your holdings of Everbridge publicly traded common stock on February 17, 2020, every purchase or acquisition from February 18, 2020 through February 24, 2022, every sale from February 18, 2020 through the close of trading on May 25, 2022, and your holdings at the close of trading on May 25, 2022; the Claims Administrator may also request additional documentation for transactions in Everbridge common stock and other Everbridge securities if required to verify the claim. If the records are not in your possession, request copies or equivalent documents from your broker. Attach copies rather than originals. Submitting forged or fraudulent documentation will result in rejection of the claim and may carry further consequences. Claims must be submitted by the beneficial owner rather than the brokerage or nominee listed as record owner. Institutions and other claimants with large numbers of transactions may submit their trades in an electronic file, but it counts only once the Claims Administrator acknowledges it in writing.

What Happened?

Lead Plaintiffs Sylebra Capital Partners Master Fund Ltd, Sylebra Capital Parc Master Fund and Sylebra Capital Menlo Master Fund sued Everbridge, Inc. and executives David Meredith and Patrick Brickley in the U.S. District Court for the Central District of California, No. 2:22-cv-02249-FWS-RAO. Everbridge sells critical event management software, including mass-notification tools that send emergency alerts by phone, text and email. The complaint alleges that the company and its executives made false or misleading statements about how well Everbridge was integrating its acquisitions, particularly the IT alerting platform xMatters, and about how much xMatters contributed to 2021 revenue, and that the stock fell when corrective information came out after the market closed on December 9, 2021 and February 24, 2022. The case took a long road. The district court dismissed two versions of the complaint, in May 2023 and March 2024. On July 15, 2025 the Ninth Circuit partly reversed, holding that certain statements about the acquisition strategy were adequately alleged, and in doing so effectively shortened the class period to February 18, 2020 through February 24, 2022. Defendants answered the operative complaint on February 9, 2026 and the parties were briefing class certification when they accepted a mediator's recommendation on June 13, 2026. The Stipulation was signed on August 10, 2026, the Court granted preliminary approval on August 25, 2026, which opened the claim process, and the court-ordered summary notice was published on September 29, 2026. Defendants deny all of the allegations, deny any liability or wrongdoing, and agreed to settle to end the cost and risk of further litigation; the parties still disagree about both liability and damages. No court has found that Everbridge did anything wrong. Judge Fred W. Slaughter will hold the Settlement Hearing on December 17, 2026 at 10:00 a.m. Pacific Time in Courtroom 10D at the Santa Ana federal courthouse, or remotely, and the Court may move or reschedule it without further notice. The Court has not yet granted final approval and no payment date has been announced.

How to File Your Claim

1. File online at EverbridgeSecuritiesSettlement.com, or mail the completed and signed Claim Form to Everbridge Securities Settlement, c/o Verita Global, LLC, P.O. Box 301170, Los Angeles, CA 90030-1170, so that it is postmarked or received no later than November 25, 2026. A Claim Form can also be downloaded from EverbridgeSecuritiesSettlement.com or www.labaton.com, or requested by calling the Claims Administrator toll-free at 888-808-1850. No notice ID or PIN is needed and the postcard notice is not required to file, but documentation is mandatory for every reported transaction: copies of broker trade confirmations or other documentation of the transactions must be attached, and the form warns that failure to provide it could delay verification or result in rejection of the claim. Report more than the eligible purchase window — the form asks for your holdings of Everbridge common stock on February 17, 2020, all purchases and acquisitions from February 18, 2020 through February 24, 2022, all sales from February 18, 2020 through the close of trading on May 25, 2022, and your holdings at the close of trading on May 25, 2022. The administrator needs the extra dates to run the FIFO matching and the statutory 90-day look-back, and an incomplete schedule can sink a claim even when every eligible purchase is listed. Institutions and other claimants with large numbers of transactions may submit their trades in an electronic file, which counts only after the Claims Administrator acknowledges it in writing. Do not mail the Claim Form to the Court, the parties or their counsel. Attach copies rather than originals, and do not submit forged or fraudulent documentation.
2. Visit the official claim form: https://www.everbridgesecuritiessettlement.com/

How Much Will I Actually Get?

Pro rata cash from the $85,000,000 fund based on your Recognized Claim: the sum of your per-share Recognized Loss Amounts, divided by the total Recognized Claims of all Authorized Claimants, multiplied by the Net Settlement Fund. The notice estimates the average recovery at approximately $2.32 per allegedly damaged share before deduction of Court-approved attorneys' fees, Litigation Expenses, Taxes and Notice and Administration Expenses, and approximately $1.65 per allegedly damaged share if the fee and expense application is approved in full. BOTH FIGURES ASSUME EVERY ELIGIBLE INVESTOR FILES — the notice says so in those terms — and both are averages across the class, so an individual Class Member may recover more or less. THE BIGGEST LIMIT IS NOT A DOLLAR FIGURE AT ALL: under paragraph 74.A, shares purchased during the Class Period and sold before December 10, 2021 carry a Recognized Loss Amount of zero, which wipes out claims on positions closed inside roughly the first 22 months of the 24-month Class Period. PER-SHARE AMOUNTS ARE ADDED TOGETHER, NOT ELECTED: there is a single payment path here, and a claimant's Recognized Loss Amounts across all eligible shares are summed into one Recognized Claim. Each share's own amount, though, is calculated as the lesser or least of two or three competing measures. For shares sold from December 10, 2021 through February 24, 2022, it is the lesser of the alleged artificial inflation on the purchase date minus the inflation on the sale date, or the out-of-pocket loss. Table 1 sets the alleged artificial inflation at $70.76 per share for purchases from February 18, 2020 through December 9, 2021 and $16.29 per share for purchases from December 10, 2021 through February 24, 2022. THE $42.16 LOOK-BACK CAP APPLIES TO ONE PART OF THE SETTLEMENT, NOT TO THE WHOLE THING: $42.16 was the mean closing price during the statutory 90-day look-back period of February 25, 2022 through May 25, 2022, and under paragraph 74.D it limits the Recognized Loss only on shares still held as of the close of trading on May 25, 2022, to the purchase price minus $42.16. Shares sold between February 25 and May 25, 2022 are capped instead by a rolling partial-period average closing price from Table 2, running from $30.61 up to $42.16 depending on the sale date. Shares sold between December 10, 2021 and February 24, 2022 get no look-back cap at all. A SEPARATE CAP APPLIES ONLY TO LITIGATION EXPENSES AND NOT TO THE FEE: Lead Counsel will apply for attorneys' fees not to exceed 28% of the Settlement Fund, or $23,800,000 plus accrued interest, and separately for Litigation Expenses not to exceed $675,000 plus accrued interest. Taxes and Notice and Administration Expenses also come out of the fund and carry no stated cap. Whatever the Court approves is deducted before distributions are calculated. Purchases and sales are matched first-in, first-out, and trades count on the trade date rather than the settlement date. Nothing is distributed to an Authorized Claimant whose prorated payment calculates to less than $10.00; that amount is excluded from the calculation. Any balance left at least six months after the initial distribution may be redistributed to claimants who cashed their checks.

Last reviewed: October 3, 2026 | Information verified from court records and official settlement documents.

Frequently Asked Questions