Yieldstreet Investors Reach Preliminary Approval of $9.95 Million Class Action Settlement

Miami, Florida–(Newsfile Corp. – November 14, 2024) – Sonn Law Group (SLG), along with Peiffer Wolf, secured a preliminary settlement of up to $9.95 million for investors in three Yieldstreet private funds: Vessel Deconstruction I, Vessel Deconstruction III, and Louisiana Oil and Gas (Case#20-cv-07327-VM-SDA).

After extensive negotiations, a settlement was reached and Southern District of New York U.S. District Judge Victor Marrero granted preliminary approval. The proposed settlement includes a $6.2 million cash fund for the investors, as well as a waiver of $2.75 million in fees.

A hearing for final approval is currently scheduled for February 21, 2025.

“We are very happy with this outcome, which gets us one step closer to getting money back into Yieldstreet investors’ pockets,” said Jeff Sonn, managing partner at Sonn Law, who, along with Brian Pastor, partner, represented Yieldstreet investors with co-counsel at Peiffer Wolf.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Jeff Sonn, Esq. or Brian Pastor at SLG at [email protected]. If you inquire by email, please include your email, mailing address, and telephone number. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Sonn Law represents investors and consumers in investment and consumer cases nationwide.

Contact:

Jeff Sonn, Esq. or
Brian Pastor
Sonn Law Group PA
19495 Biscayne Blvd. Suite 607
Aventura, FL 33180
Ph: (305)-912-3000
[email protected]