InnovAge Holdings Approves Class Action Settlement Details
Overview of Class Action Settlement
In a significant development affecting shareholders, the United District Court for the District of Colorado has announced a proposed class action settlement beneficial to purchasers of InnovAge Holding Corp. publicly traded common stock (NYSE: INNV). This settlement, if approved, aims to provide financial redress to individuals or entities who bought shares within specific time frames.
Settlement Details
According to the approved notice, the class action addresses claims from individuals who acquired InnovAge stock between specified dates. The lead plaintiffs have successfully negotiated a $27,000,000 cash settlement, which covers all claims related to the action, giving hope to affected shareholders. The class encompasses all persons who purchased or otherwise acquired InnovAge's common stock during this period.
Class Members and Eligibility
The class members eligible for this settlement include anyone who purchased InnovAge common stock between May 11, 2021, and December 22, 2021, as well as those who participated in the company's initial public offering. It is vital that shareholders understand their rights and assess their eligibility for potential payments from this settlement.
What to Do If You're Affected
If you think you may be a member of the class, it’s essential to stay informed as time is of the essence. Class members must submit a Claim Form by the designated deadline to qualify for any payments resulting from the settlement. The deadline for submission is November 5, 2025. Failing to submit this form will render you ineligible to receive any financial relief, even though you’ll still be bound by any court orders.
Settlement Hearing Information
A court hearing is scheduled to take place on November 26, 2025, at 10:30 a.m. to review the settlement's fairness, reasonableness, and adequacy. This hearing will determine whether the proposed settlement should be accepted by the court and whether the actions and decisions of the lead plaintiffs will be dismissed with prejudice against the defendants.
Reasons for the Legal Action
The class action emerged out of concerns regarding the potential mishandling of investor information and corporate governance by InnovAge’s management and affiliated parties. Investing comes with its risks, and these claims highlight the significance of transparent communication between companies and their shareholders. This litigation not only brings light to past issues but also seeks to ensure future accountability.
Responses from InnovAge
InnovAge and the involved parties have expressed their commitment to resolving these claims amicably. They believe that reaching this settlement represents a fair and reasonable solution, offering class members a chance to recover losses without further litigation. Stakeholders should note that while this action is in the process of conclussion, the company continues to function normally in the market.
Contact Information for Claims
For class members wishing to obtain the necessary forms or more information on the settlement, the Claims Administrator can be reached at:
InnovAge Securities Litigation
C/o Strategic Claims Services
600 N. Jackson Street, Suite 205
Media, PA 19063
Tel: (866) 274-4004
Email: info@strategicclaims.net
Frequently Asked Questions
1. How do I know if I'm a member of the class?
If you purchased InnovAge common stock during the specified period, you likely qualify as a class member.
2. What are the important dates related to the settlement?
Submit your claim form by November 5, 2025, and attend the hearing on November 26, 2025.
3. Can I exclude myself from the class?
Yes, you can submit a request for exclusion by November 5, 2025, if you prefer not to participate in the settlement.
4. What happens if the settlement is approved?
If approved, class members will receive payments based on the terms outlined in the settlement agreement.
5. Is there any risk if I do not submit a claim form?
Yes, you’ll forfeit the right to receive payment from the settlement if you do not submit a proper claim form before the deadline.
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