Zymergen IPO Securities Settlement — $125M
Zymergen IPO class action
What happened
Zymergen and its IPO underwriters agreed to a $125 million settlement with investors who bought shares in the biotech's 2021 IPO, shortly before the company disclosed a failed key product and a revenue collapse.
The allegations
Plaintiffs alleged the IPO registration statement misrepresented the prospects of Hyaline, Zymergen's flagship electronic-film product, which was later revealed to have delivery and reliability problems.
Who qualifies
You bought Zymergen stock traceable to its April 2021 IPO registration statement (purchases April 21 – August 3, 2021). Brokerage records are required, plus holdings on April 20 and August 4, 2021.
Class period: Purchases April 21 – August 3, 2021, traceable to the April 2021 IPO registration statement
Defendants
Zymergen Inc. · underwriters of the April 2021 IPO
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