Rolnick Kramer Sadighi LLP Announces a Proposed Class Action Settlement in the Wheeler REIT Litigation

NEW YORK, Dec. 31, 2025 /PRNewswire/ -- The following statement is being issued by Rolnick Kramer Sadighi LLP regarding notice of a proposed class action settlement.

UNITED STATES DISTRICT COURTEASTERN DISTRICT OF VIRGINIANORFOLK DIVISION

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION

To: ALL PERSONS OR ENTITIES WHO (1) HELD WHEELER REAL ESTATE INVESTMENT TRUST, INC. ("WHEELER") COMMON STOCK AS OF AUGUST 16, 2021; OR (2) PURCHASED WHEELER COMMON STOCK BETWEEN AUGUST 16, 2021 AND SEPTEMBER 20, 2023, INCLUSIVE, AND ARE NOT OTHERWISE EXCLUDED FROM THE CLASS (THE "CLASS" OR "CLASS MEMBERS")

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on March 31, 2026, at 10:30 a.m., before the Honorable Mark S. Davis at the United States District Court, Eastern District of Virginia, in Courtroom 1 of the Walter E. Hoffman Courthouse, 600 Granby Street, Norfolk, VA 23510, to determine whether: (1) the proposed settlement (the "Settlement") in the action known as Khoshaba v. Stilwell, et al., Civil Action No. 2:24-cv-237 (the "Class Action"), as set forth in the Stipulation of Settlement ("Stipulation")1 for $7,125,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Judgment as provided under the Stipulation should be entered dismissing the Class Action with prejudice; (3) to award Plaintiff's Counsel attorneys' fees and expenses out of the Settlement Fund (as defined in the Notice of Pendency and Proposed Settlement of Class Action ("Notice"), which is discussed below) and to award Plaintiff an incentive fee in connection with his representation of the Class, and, if so, in what amounts; and (4) the Plan of Allocation should be approved by the Court as fair, reasonable, and adequate.

The Court may decide to conduct the Settlement Hearing by video or telephonic conference, or otherwise allow Class Members to appear remotely at the hearing, without further written notice to the Class. In order to determine whether the date and time of the Settlement Hearing have changed, or whether Class Members must or may participate by phone or video, it is important that you monitor the Court's docket and the Settlement website, www.WheelerREITSettlement.com, before making any plans to attend the Settlement Hearing. Updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or remote appearances at the hearing, will be posted to the Settlement website, www.WheelerREITSettlement.com. Also, if the Court requires or allows Class Members to participate in the Settlement Hearing by remote means, the information for accessing the hearing will be posted to the Settlement website.

IF YOU HELD WHEELER COMMON STOCK AS OF AUGUST 16, 2021 OR PURCHASED WHEELER COMMON STOCK BETWEEN AUGUST 16, 2021 AND SEPTEMBER 20, 2023, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THE CLASS ACTION.

To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form ("Proof of Claim") by mail (postmarked no later than March 24, 2026) or electronically (no later than March 24, 2026). Your failure to submit your Proof of Claim by March 24, 2026, will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of the Class Action. If you are a member of the Class, and do not request exclusion from the Class, you will be bound by the Settlement and any judgment and release entered in the Class Action, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim.

If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), and a Proof of Claim, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other Settlement documents, online at www.WheelerREITSettlement.com, or by writing to:

Wheeler REIT Settlementc/o Verita Global, LLCP.O. Box 301170Los Angeles, CA 90030-1170

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.

Inquiries, other than requests for the Notice or a Proof of Claim, may be made to Plaintiff's Counsel:

ROLNICK KRAMER SADIGHI LLPPENN 1, Suite 3401One Pennsylvania PlazaNew York, NY 10119Telephone: (212) 597-2800

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED BY MARCH 10, 2026, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.  ALL CLASS MEMBERS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT A TIMELY PROOF OF CLAIM.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY PLAINTIFF'S COUNSEL FOR AN AWARD OF ATTORNEYS' FEES NOT TO EXCEED 28% OF THE $7,125,000 SETTLEMENT AMOUNT AND EXPENSES NOT TO EXCEED $665,000, AND AN INCENTIVE AWARD TO PLAINTIFF NOT TO EXCEED $50,000 IN THE AGGREGATE IN CONNECTION WITH HIS REPRESENTATION OF THE CLASS. ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO LEAD COUNSEL AND DEFENDANTS' COUNSEL BY MARCH 10, 2026, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

1 The Stipulation can be viewed and/or obtained at www.WheelerREITSettlement.com.

SOURCE Rolnick Kramer Sadighi LLP