HUB Cyber Security Reaches $11M Settlement To Resolve Legacy IPO Class Action

Benzinga·12/10/2025 19:53:35

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HUB Cyber Security Ltd. (NASDAQ:HUBC) ("HUB" or the "Company"), a global leader in confidential computing and secured data fabric technologies, today announced a successful settlement which is intended to resolve the legacy U.S. securities class action related to its 2023 IPO. The settlement, which is subject to final court approval, is designed to close a legacy litigation chapter for a total consideration of $11 million, removing a structural barrier and enabling the Company to operate and focus on its growing business with uncompromised priority.

The settlement agreement contemplates a payment of $11 million, financed primarily by HUB's insurance carriers, ensuring the Company's cash outlay is thoughtfully addressed, supporting operational priorities and continued execution.

HUB has been represented in these proceedings by the law firm, Pillsbury Winthrop Shaw Pittman. HUB believes that the settlement of this legacy class action is a positive outcome for the Company, allowing it to focus on its ongoing and future business interests.

The Company is now advancing the filing of its interim financials and preparing a formal business update that reflects a stronger, more disciplined, and aligned-for-scale value of HUB. The Company's financials will reflect HUB's revenues for H1, with higher gross margins.

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