A class action against Shimano North America Bicycle, Inc. and Shimano North America Holding, Inc. (collectively “Shimano”), and Specialized Bicycle Components, Inc., Trek Bicycle Corporation, and Giant Bicycle, Inc. has been resolved by settlement. In September 2023, Shimano issued a voluntary U.S. recall of Hollowtech II cranksets manufactured before July 2019 (the “Voluntary Recall”). Plaintiffs allege warranty breaches and challenge defendants’ advertising and the recall’s adequacy; no physical injuries are claimed. The Settlement Class covers all U.S. persons or entities who purchased, received, were gifted, or owned a Designated Crankset—except those who acquired one solely for resale—and includes purchasers of bicycles that came equipped with a Designated Crankset.