The Red Cat class action lawsuit seeks to represent purchasers or acquirers of Red Cat Holdings, Inc. (NASDAQ: RCAT) securities between March 18, 2022 and January 15, 2025, inclusive (the “Class Period”).  Captioned Olsen v. Red Cat Holdings, Inc., No. 25-cv-05427 (D.N.J.), the Red Cat class action lawsuit charges Red Cat and certain of Red Cat’s top current and former executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Red Cat class action lawsuit, or just have general questions about you rights as a shareholder, please contact attorney Timothy L. Miles of the Law Offices of Timothy L. Miles, at no cost, by calling 855/846-6529 or via e-mail at [email protected].

Lead plaintiff motions for the Red Cat class action lawsuit must be filed with the court no later than July 22, 2025.

​In this guide, we provide a timeline of events for the entire duration of a typical securities class action lawsuit like the Red Cat class action lawsuit, with approximately how long each step takes so you will have a better understanding of the timing of events in the Red Cat class action lawsuit

Lead Plaintiff Appointment in the Red Cat Class Action Lawsuit: Approximately Four Months After Initial Complaint Filed

When a securities class action is filed such as the Red Cat class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Red Cat class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.

At the end of the sixty days, the court can rule on the lead plaintiff’s motion just on the pleading filed with the court, or the judge may set a hearing on the motion for 30–45 days after the sixty-day expiration.

If a hearing is held, the judge will issue an order afterwards appointing a lead plaintiff which could be a couple weeks to a couple months.

Regardless, the PSLRA states that not later than 90 days after the initial filing and notice the court must consider the lead plaintiff’s motions and must consolidate all the related cases filed before issuing an order on the lead plaintiff. Thus, from the initial filing until a lead plaintiff is appointed, about four months have passed.

Filing of a Consolidated Complaint: Approximately Six Months After Initial Filing of Red Cat Class Action Lawsuit

Thus, by the time defendants’ motion to dismiss is decided nearly a year has passed since the filing of the original complaint in the Red Cat class action lawsuit and could be possibly longer given the court’s schedule.

If the defendant’s motion to dismiss is denied, the parties will move into the discovery phase including the exchange of documents, request for admissions, interrogatories, depositions, and third-party subpoenas, among others.

The discovery phase usually takes about a year, though it can be less or more depending on the size of the case and its complexity.

Thus, by the time discovery is completed approximately two-and-a-half years have passed since the initial filing of the Red Cat lawsuit, which is approximately how long it takes a securities class action to resolve.

Settlement Negotiation and Mediation

​​By now two-and-a-half to three years have passed since the initial filing of the Red Cat class action lawsuit. However, it is at this point that nearly all securities class actions result in a settlement, but that process takes time also.

Once the parties in Red Cat lawsuit have reached an agreement, it will have to be preliminarily approved by the court with notice to shareholders with the right to object, obtain final approval of the settlement, and then the claims process begins.

Usually, a third-party administrator is hired to administer the common fund. If the parties have complied with all the steps for approval, the judge will approve the distribution of the settlement fund by the claim’s administrator.

You will receive a court-appointed notice and have to send in a claim form confirming your purchases and sales. This process alone can take up to a year and therefore it may be four years until the case is finally resolved.