Investors who purchased or acquired InnovAge Holding Corp. publicly traded common stock between May 11, 2021, and December 22, 2021, or purchased shares in or traceable to InnovAge’s March 4, 2021 initial public offering (IPO) may be eligible for a cash payment from a $27 million class action settlement.
The lawsuit claimed that InnovAge and others violated federal securities laws by making false or misleading statements in connection with its IPO and public disclosures. InnovAge has agreed to settle the case but denies any wrongdoing.
Who Is Eligible?
To be eligible, you must meet at least one of the following criteria:
- You purchased or otherwise acquired InnovAge publicly traded common stock between May 11, 2021, and December 22, 2021
- You purchased or acquired InnovAge stock in or traceable to the company’s March 4, 2021 IPO and suffered a financial loss
Both individuals and institutions can qualify if they meet the above conditions.
Estimated Payout
The settlement fund totals $27,000,000. The estimated average recovery per affected share is:
- Before deductions: $0.699
- After deductions for fees and expenses: $0.538
Final individual payouts will depend on:
- The number of valid claims submitted
- The quantity and timing of InnovAge shares bought and/or sold
- The total number of affected shares claimed by all class members
How to File a Claim
Claims can be submitted online or by mailing a completed claim form. The PDF claim form is available in the settlement documents (see Page 20 of the notice). The deadline to file is November 5, 2025.
Mailing Address for Claims:
InnovAge Securities Litigation
c/o Strategic Claims Services
600 N. Jackson St., Suite 205
Media, PA 19063
Required Documentation
To file a valid claim, you must submit documentation of your transactions in InnovAge common stock. Acceptable documents include:
- Broker confirmation slips
- Monthly brokerage statements
- Authorized broker letters with transaction details
Incomplete or undocumented claims may be rejected.
How Will Payments Be Made?
Eligible claimants will receive payments by paper check, mailed to the address provided on the claim form.
Settlement Fund Breakdown
The $27 million settlement will be distributed as follows:
- Administrative and notice costs: To be determined
- Attorneys’ fees: Up to $5.4 million
- Attorneys’ expenses: Up to $800,000
- Taxes: To be determined
- Payments to class members: The remainder of the fund
Important Dates
- Claim submission deadline: November 5, 2025
- Exclusion (opt-out) deadline: November 5, 2025
- Final approval hearing: November 26, 2025
When Will Payments Be Issued?
Payments will be made after the court grants final approval of the settlement and any appeals or objections have been resolved. There is no set payout date, but distributions typically occur a few months after final approval.
Why Was There a Settlement?
The lawsuit alleged InnovAge misled investors by making false or incomplete statements in connection with its IPO and subsequent public filings. According to the plaintiffs, these misstatements artificially inflated the stock price, which later dropped when the truth emerged.
The settlement allows class members to recover a portion of their losses while avoiding the delays and risks of continued litigation. The defendants deny all allegations.
Sources
Settlement Status: Open for Claims
Estimated Award: Varies
Deadline to File: November 5, 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.
