The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Publicly-Traded Common Stock of Blue Ridge Bankshares, Inc. – BRBS

BROOKLYN, N.Y., Aug. 14, 2025 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Eastern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of publicly-traded common stock of Blue Ridge Bankshares, Inc. (NYSE: BRBS):

SUMMARY NOTICE OF PENDENCY AND
PROPOSED CLASS ACTION SETTLEMENT

TO: ALL PERSONS WHO (A) PURCHASED THE PUBLICLY-TRADED COMMON STOCK OF BLUE RIDGE BANKSHARES, INC. (“BLUE RIDGE”) BETWEEN FEBRUARY 3, 2023 AND OCTOBER 31, 2023, BOTH DATES INCLUSIVE (THE “CLASS PERIOD”).

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Eastern District of New York, that a hearing will be held virtually on October 29, 2025, at 11:00 a.m. before the Honorable Joseph A. Martullo, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $2,500,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan of allocation to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for an award of attorneys’ fees of up to one-third of the Settlement Amount plus interest, reimbursement of expenses of not more than $80,000, and a service payment of no more than $3,500 to Plaintiff, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement, dated February 4, 2025 (the “Stipulation”). The Settlement Fairness Hearing may be attended by dialing +1 (646) 828-7666; Meeting ID: 160 134 0545; Passcode: 157186, or it may be attended via the following link: https://nyed.zoomgov.com/j/1601340545?pwd=C5YYVv0xhErElvkm4eusloeYqVFXUS.1.

If you purchased the publicly-traded common stock of Blue Ridge between February 3, 2023 and October 31, 2023, both dates inclusive, your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in publicly-traded Blue Ridge common stock. If you need assistance obtaining a detailed Notice of Pendency and Proposed Settlement of Class Action (“Long Notice”) and a copy of the Proof of Claim and Release Form (“Proof of Claim”), you may write to, call, or contact the Claims Administrator: Blue Ridge Bankshares, Inc. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 205, Media, PA 19063; (Toll-Free) (866) 274-4004; (Fax) (610) 565-7985); info@strategicclaims.net. You can also download copies of the Long Notice and submit your Proof of Claim online at www.strategicclaims.net/BlueRidge/. If you are a member of the Settlement Class, to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim electronically or postmarked no later than October 1, 2025 to the Claims Administrator, establishing that you are entitled to share in the recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.

If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than October 1, 2025, in the manner and form explained in the Long Notice. If you want to be represented by your own lawyer, you may hire one at your own expense. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Stipulation.

Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Plaintiff must be in the manner and form explained in the detailed Long Notice and received no later than October 1, 2025, by each of the following:

If you have any questions about the Settlement, you may call or write to Lead Counsel:

Jonathan Horne
THE ROSEN LAW FIRM, P.A.
275 Madison Ave 40th Floor
New York, NY 10016 Tel: (212) 686-1060
Email: jhorne@rosenlegal.com

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

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