Planet Labs dMY IV $11 Million Class Action Settlement, Who Qualifies and How to File a Claim by January 9, 2027

If you owned dMY Technology Group, Inc. IV (“dMY IV”) Class A stock right after the December 1, 2021 redemption deadline and did not redeem it, you may be able to claim a share of an $11 million settlement tied to the company’s merger with Planet Labs. You only get paid if you file a claim, and the deadline is January 9, 2027, which is 74 days from today.

Two earlier dates matter more if you want to be heard. Objections must be received by November 17, 2026, and the Delaware Court of Chancery will hold its final approval hearing on December 10, 2026, at 9:30 a.m. ET. The court has not approved the settlement yet, and nothing will be paid until it does.

The case is Montealegre v. You, et al., C.A. No. 2024-0869-BWD. The official settlement website is dMY IV Stockholder Settlement.

dMY IV Planet Labs Settlement: Quick Facts

Detail	What the Notice says
Case	Montealegre v. You, et al., C.A. No. 2024-0869-BWD
Court	Delaware Court of Chancery (Vice Chancellor Bonnie W. David)
Settlement amount	$11,000,000 in cash, held in an interest-bearing escrow account
Named plaintiffs	Julio Montealegre and Harry Tran
Settling defendants	Harry You, Niccolo de Masi, Darla Anderson, Francesca Luthi and dMY Sponsor IV, LLC
Class period	5:00 p.m. ET on December 1, 2021 through the merger closing on December 7, 2021
Who gets paid	“Eligible Class Members”: holders of dMY IV Class A shares immediately after the December 1, 2021 redemption deadline whose shares were not redeemed
Main claims	Breach of fiduciary duty and unjust enrichment
Claim form required	Yes
Claim deadline	January 9, 2027
Objection deadline	November 17, 2026 (must be received)
Opt-out allowed?	No. This is a non-opt-out class.
Final approval hearing	December 10, 2026, 9:30 a.m. ET
Settlement administrator	JND Legal Administration
Administrator phone	1-844-924-0856
Administrator email	[email protected]

What the dMY IV Planet Labs Lawsuit Alleges

dMY IV was a special purpose acquisition company (SPAC). It completed its IPO on March 9, 2021, selling 34.5 million units at $10 per unit for $345 million in gross proceeds. On July 7, 2021, it agreed to merge with Legacy Planet, the satellite imaging company. The merger closed on December 7, 2021, and dMY IV changed its name to Planet Labs PBC.

Before the vote, dMY IV’s public stockholders could redeem their shares for about $10.00 each plus interest instead of staying in for the merger. Holders of 689,670 shares, about 2% of the public shares, redeemed before the December 1, 2021 deadline.

The plaintiffs allege that dMY IV’s sponsor, directors and officers made materially false and misleading statements about the merger’s benefits. They say this impaired stockholders’ ability to make an informed redemption decision and discouraged them from redeeming.

The defendants deny every allegation. According to the Notice, they settled to avoid the cost and distraction of continued litigation. The court has made no findings on the merits, and the settlement is not an admission of wrongdoing.

Who Qualifies for the dMY IV Planet Labs Settlement

Being in the class and being paid are two different things.

• Class Members are people and entities who held dMY IV Class A common stock at any point during the class period. They are bound by the settlement whether or not they file a claim. The class also includes qualifying successors-in-interest who obtained shares by operation of law.
• Eligible Class Members held Class A shares immediately after the 5:00 p.m. ET redemption deadline on December 1, 2021 and did not submit those shares for redemption. Only they can receive a payment.

You may still be eligible if you sold your shares after the merger. The allocation plan accounts for qualifying shares sold before August 19, 2024 and for Planet Labs shares held on that date.

Who is excluded from the dMY IV settlement class?

The class excludes the defendants, immediate family members of individual defendants, parents, subsidiaries and affiliates of entity defendants, entities controlled by defendants or other excluded persons during the class period, and certain legal representatives, agents, heirs, estates, successors and assigns of excluded persons. The official settlement notice controls the exact definitions.

Does owning Planet Labs stock today qualify you?

No, not by itself. Someone who bought Planet Labs shares in 2023 or 2025 does not qualify just because they own the stock now. The test is whether you held eligible dMY IV Class A shares immediately after the December 1, 2021 redemption deadline and did not redeem them.

What if you redeemed your dMY IV shares?

Shares redeemed in the merger have a loss of zero under the plan of allocation and get no recovery. If your account held both redeemed and non-redeemed shares, review each share separately. Do not assume they are all treated the same.

How Much Money Will dMY IV Stockholders Get?

The Notice does not promise a per-share amount. Payments come from the net settlement fund, which is the $11 million plus interest, minus taxes, administration costs and any fees the court awards.

Class counsel says it will ask for attorneys’ fees and expenses of up to 20% of the settlement ($2,200,000), plus service awards of up to $5,000 for each of the two named plaintiffs, paid out of that award. These are requests, not approved amounts, and class members do not pay fees personally.

How the dMY IV plan of allocation weighs each claim

Each claim is weighted by a “Total Loss” calculation for each eligible share:

What you did with each eligible share	Total Loss per share
Sold after December 1, 2021 and before August 19, 2024 for less than $10.00	$10.00 minus your sale price, plus $0.10
Sold in that window for $10.00 or more	$0.10
Still held at the close of trading on August 19, 2024	References 7.16(10.00 minus the $2.84 Planet Labs closing price that day) and the $0.10 nominal amount
Redeemed in the merger	Zero

These figures are weights for splitting the fund, not payouts. Your payment is your share of all claimed losses multiplied by the net fund, and any claim that works out to less than $10.00 will not be paid.

A note on the August 19, 2024 line: the way the settlement documents describe that figure is unclear. It shows $7.16 (which is $10.00 minus $2.84) alongside the $0.10 nominal amount, and it is not clear whether the $0.10 is added on top. Do not use that line to calculate your own payment. The administrator and the court-approved plan control the actual distribution.

For scale only, and not a figure from the Notice: if the full 20% fee were approved, about $8.8 million would remain before administration costs and taxes. Spread across roughly 33.8 million unredeemed public shares, that averages well under $0.30 per share if every share were claimed. Because many holders will not file, and because the weighting is uneven, actual payments will vary.

How to File a dMY IV Settlement Claim

You can file online or mail the Proof of Claim and Release to: dMY IV Stockholder Settlement, c/o JND Legal Administration, P.O. Box 91242, Seattle, WA 98111. The official Proof of Claim and Release form is also available as a PDF.

1. Gather your brokerage records. You will need your dMY IV Class A holdings at the close of trading on December 1, 2021, every purchase and sale of dMY IV or Planet Labs stock from December 2, 2021 through August 19, 2024, any shares you redeemed in the merger, and any Planet Labs shares you held at the close of trading on August 19, 2024.
2. Complete the Proof of Claim and Release. List your transactions in chronological order with accurate dates, quantities and prices. Sales are matched to purchases on a first-in, first-out basis. If you hold stock through a brokerage, you are the beneficial owner and the claim should come from you, not your broker. Do not estimate dates or invent missing figures.
3. Attach broker statements or trade confirmations. The form says missing documentation can delay or sink a claim.
4. Submit by January 9, 2027. The official materials describe this deadline both as a postmark date for mailed claims and as a date by which the administrator must receive the claim. Filing online, or mailing well before January 9, avoids any dispute. If you plan to rely on a postmark, confirm the rule with JND Legal Administration.
5. Keep your confirmation. Save your online confirmation or mailing proof and a copy of everything you submit. Filing a claim does not guarantee payment.

dMY IV Settlement Key Dates

Date	Event
November 17, 2026	Deadline to object or to file a notice of intention to appear
December 10, 2026, 9:30 a.m. ET	Final approval hearing
January 9, 2027	Deadline to file a claim

The objection deadline comes before the claim deadline, so do not wait until January if you want the court to consider an objection. Check the official key dates page for changes.

Can You Opt Out of the dMY IV Planet Labs Settlement?

No. The Notice says this is a non-opt-out class under Delaware Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2). Class Members cannot exclude themselves.

If the court approves the deal, the case is dismissed with prejudice. Class Members give up known and unknown claims connected to the merger, the proxy statement, related disclosures and the alleged impairment of redemption rights, against the defendants, Planet Labs and a long list of related parties. This applies to every Class Member, including those who never file a claim.

If you are concerned the release could affect a separate claim of your own, talk to a qualified attorney about the release language.

How to Object to the dMY IV Planet Labs Settlement

You can object to the settlement, the plan of allocation or the fee request. Your written objection must be received by November 17, 2026. It must include the case name and number, your contact details, your signature, the specific reasons for your objection, and proof you are a Class Member, such as brokerage statements.

The Notice says objections go to the Register in Chancery in Wilmington and must also be served on counsel for both sides. Check the official notice for addresses and service requirements before filing.

An objection is not an opt-out, so you stay in the class. If you also want to speak at the hearing, a notice of intention to appear is due by the same date. You do not need to attend the hearing to be paid, and if you object but still want money, you must also file a valid claim.

Which Laws Apply to the dMY IV Planet Labs Settlement?

Delaware breach of fiduciary duty

Under Delaware law, directors and officers can owe fiduciary duties of loyalty and care to the corporation and its stockholders. In a stockholder vote or redemption decision, those duties can include making honest and complete disclosures of material information. The plaintiffs allege dMY IV’s sponsor and insiders gave inaccurate information about the merger’s benefits. The settlement does not establish that a breach occurred.

Unjust enrichment under Delaware law

Unjust enrichment is an equitable theory aimed at a benefit one party keeps when it would be unjust to let that party keep it. The plaintiffs raised it in connection with the merger-related conduct. The settlement resolves the claim without a trial ruling.

Delaware Court of Chancery Rule 23

The class was preliminarily certified for settlement purposes under Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2). At the December 10 hearing, the court will consider final certification for settlement purposes, whether the representatives and counsel adequately represented the class, and whether the settlement is fair, reasonable and adequate. Preliminary certification is not final approval.

Section 220 of the Delaware General Corporation Law, 8 Del. C. § 220

The case began after Julio Montealegre made a books-and-records demand on November 2, 2023 under 8 Del. C. § 220, the statute that lets qualifying stockholders inspect certain corporate records. According to the settlement FAQ, he received about 27 documents totaling 832 pages. Section 220 was a tool for investigating the claims. It is not itself the claim that the defendants breached their duties.

This is not a federal securities fraud case

Although the case involves alleged misleading statements, the official materials describe a Delaware Court of Chancery action for fiduciary duty and unjust enrichment. Do not read it as a finding of a violation of the Securities Act of 1933, the Securities Exchange Act of 1934 or any SEC rule.

Timeline of the Montealegre v. You Settlement

Date	Event
March 9, 2021	dMY IV completes its $345 million IPO
July 7, 2021	dMY IV and Legacy Planet sign a merger agreement
December 1, 2021, 5:00 p.m. ET	Redemption deadline and start of the class period
December 7, 2021	Merger closes; dMY IV becomes Planet Labs PBC
November 2, 2023	Montealegre makes a Section 220 demand
August 19, 2024	Montealegre files the Court of Chancery lawsuit
January 8, 2025	Court grants stipulation dismissing New Planet without prejudice
January 10, 2025	Plaintiffs file an amended consolidated complaint
September 29, 2025	Court denies the motion to dismiss after a September 11 hearing
May 7, 2026	Mediation does not produce a deal that day
June 2, 2026	Parties reach an agreement in principle
September 1, 2026	Settlement stipulation signed
October 9, 2026	Court-authorized Notice issued

The September 2025 ruling let the claims go forward against the individual defendants. It did not decide that anyone breached a duty or that damages were proven.

Is Planet Labs Itself Paying the dMY IV Settlement?

The settling defendants are Harry You, Niccolo de Masi, Darla Anderson, Francesca Luthi and dMY Sponsor IV, LLC. Planet Labs PBC, called New Planet in the case documents, was dismissed from the action without prejudice in January 2025 and is not listed as a settling defendant. Planet Labs has disclosed in a quarterly filing that it remains obligated under the merger agreement to indemnify former officers and directors for these claims. That is a contractual indemnification obligation, not a sign that the company is a settling party.

What Happens at the December 10 dMY IV Settlement Hearing?

Vice Chancellor David will consider whether to give final approval to the settlement, finally certify the class for settlement purposes, approve the plan of allocation, approve attorneys’ fees, expenses and service awards, enter final judgment and dismiss the case with prejudice, and weigh any properly submitted objections. The hearing is set for the Court of Chancery Courthouse, 34 The Circle, Georgetown, Delaware 19947, and the court may hold it remotely. The date, time and format can change, so check the settlement website first.

When Will dMY IV Settlement Payments Be Sent?

There is no confirmed date. The court must approve the settlement and the allocation plan, and the administrator must review claims. The Notice says distributions will not occur until the time for any appeal or review has expired. Payments will not arrive right after the December 10 hearing.

Undeliverable or uncashed payments are redistributed to claimants who cashed their checks, as long as at least $50,000 remains and each redistribution would be at least $10.00. Below $50,000, the remainder goes to the Delaware Combined Campaign for Justice. The defendants get none of it back.

What Happens If You Do Nothing in the dMY IV Settlement?

If you are an Eligible Class Member and do not file a claim, you will not receive a payment. If the settlement is approved, you are still bound by its release, and because the class is non-opt-out, you cannot keep those claims by sending an exclusion request.

How the dMY IV Settlement Compares With Other SPAC and Merger Stockholder Settlements

Other stockholder settlements have similar structures, but each has its own class definition and deadline. The Atlas Crest, Archer Aviation $15 Million Stockholder Class Action Settlement, Who Qualifies, How to Claim and the January 4, 2027 Deadline is another Delaware SPAC-merger case with a defined eligibility period. The FTAC II Paysafe $59.5M Settlement, Claim By Jan. 7, 2027 is a separate SPAC-related settlement with its own rules. And the RBI, Carrols Merger $18.2M Stockholder Class Action Settlement is a Delaware merger case involving fiduciary duty claims. Eligibility for one does not mean eligibility for another.

dMY IV Planet Labs Settlement: Frequently Asked Questions

Is the dMY IV Planet Labs settlement final?

No. Vice Chancellor David will decide whether to approve it at the December 10, 2026 hearing. Payments come only after approval and after any appeals are resolved.

Do I have to file a claim in the dMY IV settlement?

Yes, to receive money. You are in the class automatically if you held shares during the class period, but you must file a Proof of Claim and Release by January 9, 2027 to get paid.

Can I opt out of the dMY IV Planet Labs settlement?

No. The Notice says Class Members cannot exclude themselves.

I redeemed all my dMY IV shares in the Planet Labs merger. Can I get paid?

No. Redeemed shares have a Total Loss of zero under the plan of allocation.

Does owning Planet Labs stock today qualify me for the dMY IV settlement?

Not by itself. The settlement turns on holding eligible dMY IV Class A shares immediately after the December 1, 2021 redemption deadline.

How much will I get from the dMY IV settlement?

There is no fixed per-share amount. It depends on the approved allocation plan, your eligible shares and trades, your documentation, and the net fund after deductions. Claims under $10.00 will not be paid.

Who are the lawyers in Montealegre v. You?

The plaintiffs are represented by Grant & Eisenhofer P.A., Robbins Geller Rudman & Dowd LLP and Robbins LLP. The defendants are represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP and White & Case LLP.

Will I have to pay the lawyers?

No. Fees come out of the settlement fund if the court awards them.

Did the court find that the dMY IV defendants misled shareholders?

No. The court denied a motion to dismiss in September 2025, which let the claims proceed. The settlement resolves the case without a ruling on the merits.

Who can help with the dMY IV settlement?

Contact JND Legal Administration at 1-844-924-0856 or [email protected]. Do not call the court.

What dMY IV Stockholders Should Do Next

If you held dMY IV Class A stock right after the December 1, 2021 redemption deadline and did not redeem it, gather your broker statements now and file your claim before January 9, 2027. If you have concerns about the settlement, the allocation or the fees, the objection deadline of November 17, 2026 comes first. Check the official website before acting, because dates and hearing details can change.

Official Documents and Sources

1. Official dMY IV Stockholder Settlement Website
2. Official Settlement FAQs
3. Official Settlement Dates
4. Proof of Claim and Release Form
5. Notice of Pendency and Proposed Settlement
6. Stipulation and Agreement of Settlement, Compromise and Release
7. Planet Labs December 2021 merger-closing Form 8-K
8. 8 Del. C. § 220, Stockholder Inspection Rights

This article is for general information only and is not legal or investment advice. AllAboutLawyer.com is a legal information website, not a law firm. The allegations have not been established by a final judgment, and the settlement remains subject to court approval. For questions about your own rights, consult a qualified attorney.

Researched and written by Israr Ahmad, legal content researcher and founder of AllAboutLawyer.com. All facts verified against the Delaware Court of Chancery’s authorized Notice of Pendency and Proposed Settlement (dated October 9, 2026), the official Proof of Claim and Release form, the Stipulation and Agreement of Settlement, and the official settlement website run by JND Legal Administration (dmyivstockholdersettlement.com), as of October 27, 2026. Last Updated: October 27, 2026.