$2.3M Sun Communities Securities Class Action Settlement, Do You Qualify for a Payment? File Your Claim by July 1

The Sun Communities Securities Settlement is a federal securities class action where eligible investors who purchased Sun Communities, Inc. (NYSE: SUI) common stock between February 28, 2019 and September 24, 2024 can receive a payment by filing a claim before July 1, 2026. Sun Communities and four of its current and former executives agreed to pay $2,300,000 to resolve claims that they hid financial relationships between the CEO and members of the company’s own board of directors.

Quick Facts

Field	Detail
Settlement Amount	$2,300,000
Claim Deadline	July 1, 2026 (11:59 p.m. ET online; postmarked by July 1 if mailing)
Who Qualifies	Investors who purchased publicly traded SUI common stock between February 28, 2019 and September 24, 2024 and suffered a compensable loss
Payout Per Share	Approx. $0.036 per damaged share after fees (based on ~40.28M damaged shares)
Proof Required	Yes — brokerage statements or trade confirmations required
Settlement Status	Preliminarily Approved — final approval hearing July 29, 2026
Administrator	Strategic Claims Services, Media, PA — (866) 274-4004
Official Website	www.strategicclaims.net/SunCommunities/
Last Updated	May 22, 2026

Current Status

• The settlement received preliminary approval from the U.S. District Court for the Eastern District of Michigan on April 17, 2026.
• The opt-out, objection, and claim deadlines all fall on July 1, 2026.
• The final approval hearing is scheduled for July 29, 2026 at 10:30 a.m. at the federal courthouse in Detroit, Michigan.

What Is the Sun Communities Lawsuit About? Nelson v. Sun Communities, Inc. et al., No. 2:24-cv-13314-LVP-EAS

Plaintiff Michelle Nelson filed this class action in the U.S. District Court for the Eastern District of Michigan, alleging that Sun Communities and its executives violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 — the core federal anti-fraud rules that prohibit companies from making false or misleading statements to investors.

The heart of the case involves something Sun Communities told investors for years: that certain board members were independent. A short seller named Blue Orca Capital published a report on September 24, 2024, alleging that CEO Gary A. Schiffman had received an undisclosed $4 million loan from the family of board member Brian Hermelin — the same director who chaired the compensation committee overseeing Schiffman’s pay and sat on the audit committee. Blue Orca also reported that Schiffman borrowed $700,000 from another board member, Arthur Weiss, a partner at the law firm that served as Sun Communities’ general counsel.

When that report went public, Sun Communities’ stock dropped. The lawsuit argues that investors paid artificially inflated prices for SUI shares for more than five years because the company never disclosed these conflicts of interest. If you were one of those investors, this settlement may compensate you for part of those losses. For broader context on how investor fraud claims work, see our guide to securities class action settlements and how investors recover losses.

Related article: $900K Elsie Rooftop Wage and Hour Settlement, Did You Work There? Here Is How to Claim Your Payment by July 20

Who Qualifies for the Sun Communities Securities Settlement?

You may qualify if you:

• Purchased publicly traded Sun Communities, Inc. (SUI) common stock (CUSIP: 866674104)
• Bought shares between February 28, 2019 and September 24, 2024, both dates inclusive
• Suffered a compensable loss — meaning your recognized loss calculation under the plan of allocation results in a figure greater than zero
• Still held shares on September 24, 2024, or sold them at a loss between September 25, 2024 and December 24, 2024

You do NOT qualify if you:

• Broke even or made a trading gain on SUI common stock during the class period overall
• Sold all your shares on or before September 24, 2024 (recognized loss for those shares is $0.00 under the plan of allocation)
• Are Sun Communities itself, any of the named defendants, or an immediate family member of a defendant
• Are a person or entity with a controlling interest in Sun Communities

If you are unsure whether you qualify for the Sun Communities class action settlement, call Strategic Claims Services at (866) 274-4004 or email [email protected] — they will help you figure it out for free.

How Much Can You Get from the Sun Communities Settlement?

Your legal settlement payout depends on your individual recognized loss calculation under the court-approved plan of allocation. The settlement fund is $2,300,000 gross. After deducting attorneys’ fees (up to one-third, or approximately $766,667), litigation expenses (up to $55,000), and administration costs, the net fund gets distributed to all approved claimants on a pro rata basis.

Here is how the recognized loss per share breaks down:

• Shares retained through December 24, 2024: The lesser of $1.18 per share OR the difference between your purchase price and $128.66 per share
• Shares sold on September 25, 2024: The lesser of $0.93 per share OR the difference between purchase and sale price
• Shares sold between September 26, 2024 and December 24, 2024: The lesser of $1.18 per share OR the difference between purchase price and the average closing price on date of sale (per the court’s pricing table)
• Shares sold on or before September 24, 2024: Recognized loss is $0.00 — these shares are not eligible

The estimated average recovery is approximately $0.036 per damaged share after all deductions. No distribution will be made if your calculated payment is less than $10.00. Because your actual recovery depends on how many investors file valid claims, we recommend treating this estimate as a floor, not a guarantee. A similar pro-rata distribution structure applied in the Rivian Automotive $250M securities class action settlement where final payouts varied significantly based on total claims filed.

How to File Your Sun Communities Claim

Step 1 — Visit www.strategicclaims.net/SunCommunities/ and begin the online claim form.

Step 2 — Enter your full contact information and account type (individual, IRA, trust, corporation, etc.).

Step 3 — Enter your beginning holdings as of February 27, 2019, then list every purchase and sale of SUI common stock from February 28, 2019 through December 24, 2024, in chronological order.

Step 4 — Upload supporting documents — brokerage trade confirmations or monthly statements for each transaction. The administrator will reject claims without documentation.

Step 5 — Read the certification and sign by typing your name. Joint claimants must each sign separately.

Step 6 — Submit online before 11:59 p.m. ET on July 1, 2026, OR mail a signed paper claim form postmarked no later than July 1, 2026 to:

Sun Communities, Inc. Securities Litigation c/o Strategic Claims Services 600 N. Jackson St., Suite 205, P.O. Box 230 Media, PA 19063

Estimated time to complete: 15–25 minutes, depending on the number of transactions.

Important Dates

Milestone	Date
Stipulation of Settlement Signed	April 3, 2026
Preliminary Approval Ordered	April 17, 2026
Claims Period Opens	April 17, 2026
Claim Filing Deadline	July 1, 2026
Opt-Out Deadline	July 1, 2026
Objection Deadline	July 1, 2026
Objector Intent to Appear Deadline	July 20, 2026
Final Approval Hearing	July 29, 2026, 10:30 a.m., Detroit, MI
Expected Payment Date	TBD — pending final court approval and claims processing

Frequently Asked Questions

Is there a class action lawsuit against Sun Communities?

 Yes. Nelson v. Sun Communities, Inc. et al., Case No. 2:24-cv-13314-LVP-EAS, is pending in the Eastern District of Michigan. The case alleges Sun Communities misled investors about undisclosed financial relationships between its CEO and board members from February 2019 through September 2024.

Do I need a lawyer to file a Sun Communities claim? 

No. The Rosen Law Firm, P.A. serves as class counsel and represents all settlement class members. You can file your claim directly at strategicclaims.net/SunCommunities/ without hiring a class action lawsuit attorney or paying any upfront cost.

How much will I get from the Sun Communities settlement?

 The estimated average recovery is approximately $0.036 per damaged share after attorney fees and expenses. Your exact payment depends on your purchase and sale dates, prices, the total number of claims filed, and your recognized loss under the plan of allocation.

Is this settlement legitimate?

 Yes. This is a federally authorized settlement preliminarily approved by U.S. District Judge Linda V. Parker. Strategic Claims Services, a professional claims administrator, manages the process. The court issued this notice under its authority — it is not advertising.

When will I receive my payment?

 No payment date has been set yet. The final approval hearing is July 29, 2026. After that, assuming the court approves the settlement, Strategic Claims Services will process all claims and distribute payments. TBD — exact timing depends on the volume of claims and any objections or appeals filed.

What if I missed the claim deadline?

 If you do not submit a valid claim by July 1, 2026, you will not receive a payment. However, unless you formally opt out, you will still be bound by the settlement’s release of claims — meaning you also cannot sue the defendants independently later.

Will my settlement payment affect my taxes? 

Possibly. Settlement payments in securities cases are typically treated as capital gain or loss adjustments, depending on your specific tax situation. You should consult a tax professional about how any compensation for damages you receive will be reported on your return.

I sold my Sun Communities stock before September 24, 2024. Am I still eligible? 

Only if you also purchased additional shares that you held into the corrective disclosure period. Under the plan of allocation, shares sold on or before September 24, 2024 carry a recognized loss of $0.00 — they do not generate a compensable loss. If all your purchases were sold before that date, you likely do not qualify.

Sources & References

• Official Notice of Pendency and Proposed Settlement — Strategic Claims Services (PDF)
• Official Claim Form — strategicclaims.net/SunCommunities/
• Law360 — REIT Investors Get Initial OK For $2.3M Settlement (April 20, 2026)

Prepared by the AllAboutLawyer.com Editorial Team and reviewed for factual accuracy against the official court-authorized Notice of Pendency and Proposed Settlement and the Strategic Claims Services administrator website on May 22, 2026. Last Updated: May 22, 2026

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Legal claims and outcomes depend on specific facts and applicable law. For advice regarding a particular situation, consult a qualified attorney.