Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of LuxUrban Hotels Inc. – LUXHQ

NEW YORK, May 25, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of publicly traded common stock and/or 13% Series A Cumulative Redeemable Preferred Stock of LuxUrban Hotels Inc. (OTCMKT: LUXHQ):

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION AND MOTION FOR ATTORNEYS’ FEES AND EXPENSES

To: All persons and entities who purchased or otherwise acquired publicly traded common stock and/or 13% Series A Cumulative Redeemable Preferred Stock of LuxUrban Hotels Inc. (“LuxUrban”) between May 9, 2023 and August 20, 2024, both dates inclusive (the “Class Period”), and were allegedly damaged thereby (the “Settlement Class”).

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that Plaintiffs, on behalf of themselves and all members of the proposed Settlement Class, and Brian Ferdinand and Shanoop Kothari (the “Individual Defendants”) have reached a proposed settlement of the claims against the Individual Defendants and LuxUrban (together, “Defendants”) in the above-captioned class action (the “Action”) in the amount of $3,000,000 (the “Settlement”).   

A hearing will be held before the Honorable Paul A. Engelmayer either in person or remotely, at the Court’s discretion, on September 8, 2026, at 10:00 a.m. in Courtroom 1305 of the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY 10007 (the “Settlement Hearing”) to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated March 26, 2026; (iii) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the “Net Settlement Fund”) to Settlement Class Members; and (iv) approve Lead Counsel’s Fee and Expense Application. The Court may change the date of the Settlement Hearing, or hold it remotely, without providing another written notice. Information about the hearing will be posted at www.strategicclaims.net/LuxUrban. You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a full Notice of Pendency of Class Action, Proposed Settlement, and Motion for Attorneys’ Fees and Expenses (“Notice”) and Proof of Claim and Release form (“Claim Form”), you may obtain copies of these documents by visiting www.strategicclaims.net/LuxUrban or by contacting the Claims Administrator at:

LuxUrban Hotels Inc. Securities Settlement
c/o Strategic Claims Services
600 N. Jackson Street, Suite 205
P.O. Box 230
Media, PA 19063
Toll-Free: (866) 274-4004
Fax: (610) 565-7985
info@strategicclaims.net

Inquiries, other than requests for information about the status of a claim or for copies of the Notice and Claim Form, may also be made to Lead Counsel:

POMERANTZ LLP
Jeremy A. Lieberman, Esq.
Jonathan D. Park, Esq.
600 Third Avenue, 20^th Floor
New York, NY 10016
www.pomlaw.com
(212) 661-1100

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than August 10, 2026. If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice so that it is received no later than August 18, 2026. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, Lead Counsel’s Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are received no later than August 18, 2026.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS’ COUNSEL REGARDING THIS NOTICE.