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Class action settlement

National Instruments $28M Securities Class Action Settlement

Proof or notice ID needed $28M Open for Claims

Last updated from the official settlement website (nationalinstrumentssecuritiesclassaction.com). Re-checked .

Investors who sold National Instruments stock during parts of August and September 2022 may be eligible to claim a cash payment from a class action settlement.

Who qualifies and how to claim

What you could get

  • About$48For eligible shares sold during either class period window for less than $48, the recognized loss is $48, the stock’s estimated true value, minus the sale price.
  • $10Class members whose payment would be less than $10 will not receive a payout.

Pulled from the write-up below. The official settlement website and the court's documents have the final word.

National Instruments $28M Securities Class Action Settlement

October 30, 2026 11:19 AM

Investors who sold National Instruments Corp. common stock between Aug. 12, 2022, and Aug. 30, 2022, or between Sept. 12, 2022, and Sept. 28, 2022, may be eligible to claim a cash payment from a class action settlement .

National Instruments Corp., Eric Starkloff and Michael McGrath agreed to pay $28 million to settle a securities class action lawsuit alleging the company bought back its own stock in 2022 while withholding material information about acquisition proposals from Emerson Electric Co.

Who can file a claim?

The settlement includes anyone who sold National Instruments Corp. common stock between Aug. 12, 2022, and Aug. 30, 2022, or between Sept. 12, 2022, and Sept. 28, 2022, inclusive, and suffered damages as a result.

Read the full details

Additional details

  • Both individuals and entities can be class members.
  • The actual beneficial seller or a legal representative must submit the claim.
  • Joint sellers must each sign the claim form.
  • Executors, administrators, guardians, conservators and trustees may submit claims on behalf of others and must provide proof of authority.
  • Each separate legal entity must submit one claim covering all of its accounts.

How much can class members receive?

The total settlement fund is $28,000,000. The amount each class member will receive depends on several factors:

  • The number of valid claims submitted
  • The number of shares sold during the class period
  • The price received for each sale
  • The total recognized losses of all claimants

The settlement administrator will distribute payments on a pro rata basis according to the court-approved plan of allocation:

  • The estimated average recovery is about $3.01 per allegedly damaged share before deductions for taxes, administration costs, attorneys' fees and expenses, and any award to the lead plaintiff.
  • Actual payments may be higher or lower depending on individual claims and the total number of valid claims.
  • The settlement administrator will calculate a recognized loss for each share sold during the class period using the court-approved plan of allocation:
  • Eligible shares are those class members bought on or before Aug. 11, 2022, or from Aug. 31, 2022, through Sept. 11, 2022.
  • For eligible shares sold during either class period window for less than $48, the recognized loss is $48, the stock’s estimated true value, minus the sale price.
  • Short sales during either class period window follow the same formula unless a purchase made during either window covers the short sale.
  • Eligible shares sold at any other time or still held after Sept. 28, 2022, have no recognized loss.
  • Each claimant's payment equals their recognized loss divided by the total recognized losses of all claimants times the fund.
  • Class members whose payment would be less than $10 will not receive a payout.

How to claim a National Instruments securities class action settlement payment

Class members may file a claim online or download, print and complete the PDF claim form (pages 16-26 of the settlement notice) and mail it to the settlement administrator. The claim deadline is Jan. 14, 2027.

Settlement administrator's mailing address: National Instruments Securities Settlement, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Suite 205, Media, PA 19063

Proof or documentation required to submit a claim

All class members must provide their full Social Security number or taxpayer identification number. They must also provide holdings and transaction information, including:

  • Number of shares held as of the opening of trading on Aug. 12, 2022
  • Trade dates for sales and purchases from Aug. 12, 2022, through Sept. 28, 2022
  • Number of shares sold, purchased or acquired
  • Total sale, purchase or acquisition price
  • Number of shares held as of the close of trading on Sept. 28, 2022

Documents & history

The public record, word for word. Every line below is what the court or the settlement administrator published; we only add short notes on what each item means. The original document has the final word, and it is always one click away.

Official settlement website Court docket 1:23-cv-10488

43 court filings since Jan 2026, the latest on Sep 25, 2026, across 1 docket.

The story so far

Claims are open until Jan 14, 2027, 74 days left. Final approval is still ahead.

Latest
Preliminary approval Granted Sep 25, 2026 · 5 weeks ago
Next
Claim deadline Jan 14, 2027 · in 2 months

Below is every step on record. The key moments come first; tap one to read about it, or pick a filter to see more. Read the graph left to right: each line is one place where things happen, the court and the settlement’s website, and the big labelled marks are the moments that matter. Tap one to read about it. Puzzled by a word? See court words, in plain English.

In courtcase 1:23-cv-10488Settlement website
Nov 2023DecJan 2024FebMarAprMayJunJulAugSepOctNovDecJan 2025FebMarAprMayJunJulAugSepOctNovDecJan 2026FebMarAprMayJunJulAugSepOctNovDecJan 2027TodayNov 30, 2023 · Update from the settlement: Case filed: 1:23-cv-10488 IN RE NATIONAL INSTRUMENTS CORPORATION SECURITIES LITIGATIONFeb 25, 2026 · Court filing about the settlement: MANDATE of USCA (Certified Copy) USCA Case Number 25-2420. Petitioners request, pursuant to Federal Rule of Civil ProcedJul 14, 2026 · Court filing about the settlement: JOINT LETTER addressed to Judge Denise L. Cote from Noam Mandel and John D. Comerford dated July 14, 2026 re (ECF 166)Sep 11, 2026 · Court filing about preliminary approval: BRIEF re (ECF 171)Sep 11, 2026 · Someone asked the judge about preliminary approval: SETTLEMENT AGREEMENT //Stipulation and Agreement of Settlement. Document filed by Wayne County Employees Retirement SystSep 11, 2026 · Someone asked the judge about preliminary approval: MOTION for Settlement //Notice of Lead Plaintiff's Motion for Preliminary Approval of Settlement and Approval of Notice Jul 14, 2026 · The judge ruled on preliminary approval: Order (ECF 167)Sep 25, 2026 · The judge ruled on preliminary approval (Granted): ORDER PRELIMINARILY APPROVING SETTLEMENT AND PROVIDING FOR NOTICE granting 170 Motion for Settlement. NOW, THEREFORE, ITJan 14, 2027 · Deadline coming up: Claim deadlinePreliminary approvalPreliminary approvalClaim deadline
  • A decision by the judge
  • A date to know
  • Money paid out
  • A request to the judge
  • Paperwork or an update
  • Still to come
  1. Preliminary approvalJul 14, 2026 · In court
  2. Preliminary approvalSep 25, 2026 · In court
  3. Claim deadlineJan 14, 2027 · still to come

Coming up 1

  1. DeadlineDeadline coming up

    Claim deadline

    Settlement websiteSee the record
    In plain English

    A date by which class members must act: file a claim, opt out (leave the settlement) or object (tell the court what is wrong with it).

Today, Nov 1, 2026

September 2026 4 events

  1. Judge’s decisionThe judge ruled on preliminary approval Granted
    In courtSee the record
    Court’s wording

    ORDER PRELIMINARILY APPROVING SETTLEMENT AND PROVIDING FOR NOTICE granting 170 Motion for Settlement. NOW, THEREFORE, IT IS HEREBY ORDERED THAT (ECF 173)

    In plain English

    This is the judge’s decision, so it is official. The judge said yes to the request. The judge took a first look at the deal and let it go ahead: notices go out and claims can open. It is not the final decision.

  2. Request to the judgeSomeone asked the judge about preliminary approval
    In courtSee the record
    Court’s wording

    MOTION for Settlement //Notice of Lead Plaintiff's Motion for Preliminary Approval of Settlement and Approval of Notice to the Class. Document filed by Wayne… (ECF 170)

    In plain English

    Someone in the case asked the judge for something. Nothing changes until the judge answers.

  3. Request to the judgeSomeone asked the judge about preliminary approval
    In courtSee the record
    Court’s wording

    SETTLEMENT AGREEMENT //Stipulation and Agreement of Settlement. Document filed by Wayne County Employees Retirement System. (Attachments (ECF 172)

    In plain English

    Someone in the case asked the judge for something. Nothing changes until the judge answers.

  4. PaperworkCourt filing about preliminary approval

    BRIEF re (ECF 171)

    In courtSee the record
    In plain English

    A paper filed with the court. The wording above is the court’s own.

July 2026 2 events

  1. PaperworkCourt filing about the settlement
    In courtSee the record
    Court’s wording

    JOINT LETTER addressed to Judge Denise L. Cote from Noam Mandel and John D. Comerford dated July 14, 2026 re (ECF 166)

    In plain English

    A paper filed with the court. The wording above is the court’s own.

  2. Judge’s decisionThe judge ruled on preliminary approval

    Order (ECF 167)

    In courtSee the record
    In plain English

    This is the judge’s decision, so it is official. The judge took a first look at the deal and let it go ahead: notices go out and claims can open. It is not the final decision.

February 2026 1 event

  1. PaperworkCourt filing about the settlement
    In courtSee the record
    Court’s wording

    MANDATE of USCA (Certified Copy) USCA Case Number 25-2420. Petitioners request, pursuant to Federal Rule of Civil Procedure 23(f), leave to immediately appea… (ECF 150)

    In plain English

    A paper filed with the court. The wording above is the court’s own.

November 2023 1 event

  1. UpdateUpdate from the settlement
    In courtSee the record
    Court’s wording

    Case filed: 1:23-cv-10488 IN RE NATIONAL INSTRUMENTS CORPORATION SECURITIES LITIGATION

    In plain English

    News published by the settlement or the court, such as a new settlement, a changed date or a payment update.

Documents

Notices to class members 3

The court-approved notice that tells class members who qualifies, what the settlement pays, the options and every deadline. Start here.

Court orders 10

The judge’s decisions. An order is what makes something official: approving the settlement, setting dates, awarding fees.

Settlement filings 2

Papers filed with the court about the settlement: proposals, reports and supporting documents.

Court filings come from the court's public docket through the free RECAP archive; official documents from the settlement administrator's own site. Other dates come from the official settlement site and the summary above. We show the record as published and do not interpret it for your case. Nothing here is legal advice. Last checked Oct 31, 2026.

Where this information comes from

Court words, in plain English What words like “motion” or “docket” mean. You never need them to file a claim.
Attorneys’ fees money

What the lawyers for the group ask to be paid for bringing the case. It comes out of the settlement fund, and the judge decides the amount, often less than asked.

For example: The lawyers asked for a quarter of the fund in attorneys’ fees; the judge decides how much they get.

Claim form what you fill in

The form you send to get your share of the settlement, online or by mail. Filing one is free.

For example: Send the claim form before the deadline, or you may not be paid.

Class member you, probably

Anyone who fits the group the settlement covers. If you qualify, you are a class member, even if you never heard of the case before.

For example: If you bought the product during the years the notice lists, you are likely a class member.

Class certification a decision

The judge agreeing that one case can speak for a whole group of people in the same situation.

For example: After class certification, the case went ahead for all the customers, not only the two who sued.

Docket /DOK-it/ the court’s record

The court’s diary for a case: a numbered list of every paper filed and every step taken, in order.

For example: The judge’s order was added to the docket on May 20.

ECF number /E-C-F/ a page number

ECF is the courts’ online filing system (Electronic Case Filing). "ECF 233" is item 233 on the case’s docket; "ECF 213-1" is the first attachment to item 213.

For example: A settlement agreement filed as ECF 251 is the 251st item on that case’s docket.

Final approval hearing a date

Also called the fairness hearing: the day the judge listens to anyone with concerns, then decides whether the settlement is approved for good.

For example: The final approval hearing is usually the last big date before payments go out.

Motion a request

A formal "please" to the judge: one side asks for something, like more time or approval of the deal. Nothing changes until the judge answers.

For example: The lawyers filed a motion to extend the claim deadline.

Object /ob-JECT/ your choice

Staying in the settlement but telling the judge what you think should be better. You can still be paid.

For example: If you think the fees are too high, you can object before the deadline.

Opt out your choice

Choosing to leave the settlement. You get nothing from it, but you keep your right to bring your own case.

For example: If you opt out, you will not get a payment from this settlement.

Order a decision

The judge’s answer, and the part that counts. "Granted" means yes, "denied" means no, "granted in part" means yes to some of it.

For example: An order granting the motion means the judge said yes.

Preliminary approval /pre-LIM-in-airy/ a decision

The judge’s first "this looks fair enough to move ahead". Notices go out and claims open, but it is not the final say.

For example: After preliminary approval in June, the claim form went online.

RECAP /REE-cap/ a source

A free public library of federal court papers run by the non-profit Free Law Project. The court documents on this page link to its copies.

For example: We found the judge’s order in the RECAP archive.

Service award money

A small thank-you payment to the people who brought the case on everyone’s behalf (the class representatives). It comes from the fund and the judge decides it.

For example: The two people who started the case each asked the judge for a service award.

Settlement administrator a company

The company that runs the claims for the court: it sends the notices, checks the claims and mails the payments. Questions about your claim go to them.

For example: The settlement administrator mails the checks once the judge approves the deal.

Unopposed /un-uh-POZED/ a word in requests

Both sides agree on the request, so it usually goes through smoothly.

For example: An unopposed motion to move a deadline is almost always granted.

Services

Free tools that take the paperwork out of a claim. No sign-up.

More services are coming soon.