Tricida Inc. and CEO Gerrit Klaerner have agreed to pay $14.25 million to settle a class action lawsuit alleging violations of federal securities laws. The lawsuit claimed the company and its CEO made false or misleading statements and failed to disclose material facts about the company’s business and future prospects.
Who Is Eligible?
You may qualify for a payment if:
- You purchased or otherwise acquired Tricida Inc. common stock between May 8, 2020, and February 25, 2021.
- You suffered financial losses related to those transactions.
Eligibility extends to individuals and entities, including investment funds, trusts, and retirement accounts. If you acquired the stock on behalf of someone else, you must either forward the settlement notice to the beneficial owner or provide their contact information to the settlement administrator within seven days of receiving the notice.
Settlement Details and Payment Amount
The settlement fund totals $14,250,000. Payment amounts will vary based on:
- The number of valid claims submitted
- Each claimant’s stock purchase, sale, and retention details
- Whether the net settlement fund exceeds the total of all recognized claims
The estimated average recovery is approximately $0.40 per share, before deductions for fees and expenses. Actual payments may be higher or lower.
- Minimum payment: If your recognized claim is greater than zero, you will receive at least $10.
- If total claims exceed the available settlement funds, payouts will be reduced on a pro rata basis.
How to File a Claim
To receive a payment, eligible claimants must file a completed claim form either:
- Online at the official settlement website
- By mail using a printed PDF form
Claim filing deadline: October 1, 2025
Mailing address for claim forms:
Tricida Securities Settlement
c/o Kroll Settlement Administration LLC
P.O. Box 225391
New York, NY 10150-5391
Documentation Requirements
To submit a claim, you must include proof of your stock transactions. Acceptable documents include:
- Monthly account statements from a brokerage or investment account
- Trade confirmations
- A signed letter on brokerage firm letterhead confirming the transactions
- Other similar transaction records
You must also provide your account number and the last four digits of either your Social Security number or Taxpayer Identification Number.
Payout Method
Payments will be issued by paper check to the mailing address provided on your claim form.
Settlement Fund Allocation
The $14.25 million settlement fund will be distributed as follows:
- Up to $500,000 for settlement administration costs
- Up to $3,918,750 for attorneys’ fees
- Up to $500,000 for litigation expenses
- Service awards to lead plaintiffs (amount to be determined)
- Remaining funds distributed to eligible class members
If any funds remain after all payments and possible redistributions, the balance will be donated to the Bluhm Legal Clinic Center for Litigation and Investor Protection at Northwestern University Pritzker School of Law.
Important Deadlines
- Exclusion deadline: September 11, 2025
- Claim submission deadline: October 1, 2025
- Final fairness hearing: October 16, 2025
When Will Payments Be Made?
Payments will be distributed after the court grants final approval of the settlement and any appeals or objections are resolved.
Why Is There a Settlement?
The lawsuit accused Tricida Inc. and CEO Gerrit Klaerner of misleading investors through false statements and omissions regarding the company’s business and future. The company denied all allegations. The parties agreed to settle in order to avoid the cost, delay, and risk of ongoing litigation. The settlement allows affected investors to receive compensation without the uncertainty of a trial.
Sources
Settlement Status: Open for Claims
Estimated Award: Varies based on individual transactions
Claim Deadline: October 1, 2025
Please be aware that your claim form will be rejected if it contains fraudulent information. By submitting your information and your sworn statement of its accuracy, you are agreeing to do so under penalty of perjury. Submitting false information not only jeopardizes your claim but also affects others who are genuinely eligible for the settlement. If you are uncertain about your eligibility for this class action settlement, please visit the class action administrator’s website for more information. Note that NoProofClassActions.org participates in the Amazon affiliate advertising program, and this post may include affiliate links, which could result in us earning a commission if you make a purchase through those links.
