Marqeta Securities Class Action Settlement

Investors who bought Marqeta, Inc. (NASDAQ: MQ) stock or call options, or wrote MQ put options, between February 28 and November 4, 2024 may qualify for a pro rata share of a $13 million securities class action settlement. Claims must be received by December 31, 2026. Before you spend time on the form, check the detail that decides most claims: stock and call options only have value under the Plan of Allocation if you still held them at the close of trading on November 4, 2024 — if you sold out before that date, your Recognized Claim is generally $0 even though you're technically in the Class. Options recoveries are also capped at 1% of the net fund, a limit on that slice only. Brokerage documentation is required for every claim; there is no document-free tier.

Do I Qualify?

You may be eligible if:

• You may qualify if you purchased or otherwise acquired Marqeta, Inc. (NASDAQ: MQ) Class A common stock, purchased or acquired Marqeta call options, or wrote Marqeta put options between February 28, 2024 and November 4, 2024, inclusive, and were damaged. Qualifying for the Class is not the same as having a payable claim: under the Plan of Allocation described in the preliminary approval motion, stock and call options create a recognized loss only if bought during the class period and still held at the close of trading on November 4, 2024; put options count only if written during the class period and still open at that close. An investor who bought and fully sold out of MQ before November 4, 2024 is in the Class but generally has a Recognized Claim of $0. For common stock still held past that date, the per-share loss is generally the lowest of the estimated $2.67 of artificial inflation, the purchase price minus the sale price, or the purchase price minus the average closing price over the 90 days after the class period ended. Recoveries for call options bought and put options written during the class period are capped at 1% of the net settlement fund — a cap on that slice only, not on the $13 million settlement as a whole — because options trading made up about 1% of MQ's dollar trading volume during the class period; the rest of the net fund goes to common stock claims. A claimant whose calculated payment comes to less than $10.00 receives nothing. Excluded from the Class are the defendants, Marqeta's officers, directors, partners and control persons and their immediate families, Marqeta's parents, subsidiaries, affiliates and entities the defendants control, trusts for an individual defendant, the defendants' D&O insurers, and anyone who timely excludes themselves by December 22, 2026.

Documentation is required and there is no document-free tier. Every Marqeta transaction and holding reported on the Claim Form — purchases, sales, call options bought, put options written, and positions held at the close of trading on February 28, 2024 and November 4, 2024 — must be backed by adequate supporting documentation: brokerage confirmation slips, account statements, or similar records. The preliminary-approval motion describes eligible claims as Claim Forms submitted 'with required documentation.' Epiq Class Action & Claims Solutions reviews each claim and gives claimants a chance to cure deficiencies before a claim lacking documentation is rejected.

What Happened?

The settlement resolves In re Marqeta, Inc. Securities Litigation, No. 4:24-cv-08874-YGR, a consolidated federal securities case before Judge Yvonne Gonzalez Rogers in the U.S. District Court for the Northern District of California, filed December 9, 2024 with a second, similar case consolidated in March 2025. The amended complaint alleges that Marqeta, Inc., CEO Simon Khalaf and CFO Michael Milotich misled investors between February 28, 2024 and November 4, 2024 about how quickly Marqeta could launch new customer programs and about the strength of, and its investment in, its regulatory compliance capabilities, keeping the share price artificially high until a November 4, 2024 disclosure. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The defendants argued in a pending motion to dismiss that the complaint did not identify a false statement and that the challenged statements were historical fact, protected forward-looking statements, or general corporate optimism; none of the allegations has been proven. Lead counsel and the defendants agreed to the $13 million settlement at a full-day mediation on November 3, 2025, without any admission of liability. The lead plaintiff moved for preliminary approval in June 2026; after a July 28, 2026 hearing the parties filed an amended agreement narrowing the release and capping the fee request, and the court granted preliminary approval on September 3, 2026. The final approval hearing is set for January 12, 2027 at 9:00 a.m. Pacific time in Courtroom 1 in Oakland; the court has not yet given final approval and no payment date has been announced.

How to File Your Claim

1. File online at the official settlement website, MarqetaSecuritiesSettlement.com, administered by the court-appointed administrator, Epiq Class Action & Claims Solutions. The site posts the long-form notice and the Claim Form for download and accepts claims online
2. lost-notice questions and other questions go through the contact options on that official site. The Claim Form must list every Marqeta common-stock purchase and sale, every call option bought, and every put option written during the class period, plus holdings at the relevant dates, and each reported transaction must be backed by adequate supporting documentation — brokerage confirmations, account statements, or similar records. Epiq reviews each claim and gives claimants a chance to cure deficiencies. Claims must be received by December 31, 2026. Requests for exclusion must be received by the administrator, and written objections filed with the court, by December 22, 2026
3. a notice of intention to appear at the final approval hearing is due January 5, 2027.
4. Visit the official claim form: https://www.marqetasecuritiessettlement.com/

How Much Will I Actually Get?

Pro rata cash from the $13,000,000 fund, net of court-approved attorneys' fees (class counsel will ask for no more than 25% of the fund), litigation expenses, a lead-plaintiff reimbursement request, taxes, and notice/administration costs estimated at $165,000 to $175,000. The court's order puts the estimated average recovery at about $0.14 per eligible Marqeta security before those deductions and about $0.11 after them — averages across the class, not a promise to any one claimant; the actual amount depends on how many valid claims are filed. THIS IS ONE SINGLE FORMULA-BASED PRO RATA FUND, NOT AN ALTERNATIVE OR EITHER/OR CHOICE: every claimant's payment is their Recognized Claim divided by the total Recognized Claims of all authorized claimants, applied to the net fund. BUT ONE CAP APPLIES TO ONLY PART OF THE FUND, NOT THE WHOLE $13 MILLION: recoveries on call options bought and put options written during the class period are capped at 1% of the net settlement fund, matching options' roughly 1% share of class-period trading volume; the remainder of the net fund goes to common-stock claims. A claimant whose calculated payment is under $10.00 receives nothing, because a check that small would cost more to issue than it is worth. No money returns to the defendants; funds left nine months after the first distribution are redistributed to claimants where cost-effective, and any final remainder goes to the Public Justice Foundation.

Last reviewed: October 17, 2026 | Information verified from court records and official settlement documents.

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