.png)
Investors who purchased or otherwise acquired Amylyx Pharmaceuticals Inc. securities between Nov. 11, 2022, and Nov. 8, 2023, may be eligible to claim a cash payment from a class action settlement.
Amylyx Pharmaceuticals Inc. agreed to pay $6.5 million to settle a securities class action lawsuit alleging it and certain executives made materially false and misleading statements about the commercial launch of Relyvrio, its treatment for amyotrophic lateral sclerosis, in violation of federal securities laws. The plaintiff claimed these statements artificially inflated the price of Amylyx securities and caused investor losses when the company released the true facts.
Who can file a claim?
The settlement includes all persons and entities who purchased or otherwise acquired Amylyx Pharmaceuticals Inc. securities between Nov. 11, 2022, and Nov. 8, 2023, inclusive, and suffered damages as a result.
Additional details
- Both individuals and entities can be class members.
- Joint owners must each sign the claim form.
- Executors, administrators, trustees and other representatives may submit claims on behalf of others and must provide proof of authority.
- Class members must submit a separate claim form for each account.
How much can class members get?
The total settlement fund is $6,500,000. The amount each class member receives depends on several factors:
- The number of valid claims submitted
- The number of shares purchased or acquired during the class period
- The timing of each purchase and sale
- The total recognized losses of all claimants
The settlement administrator will distribute payments on a pro rata basis according to the court-approved plan of allocation:
- The estimated average recovery is approximately $0.24 per share before deductions.
- After estimated deductions of $0.08 per share for attorneys' fees, expenses and the service award to the plaintiff, the net average recovery is approximately $0.16 per share.
- Actual payments may be higher or lower depending on individual claims and the total number of valid claims.
- The settlement administrator will calculate each class member's payment based on the recognized loss assigned to each share.
- The settlement administrator will calculate each class member's recognized loss for each share based on the purchase price and the timing of each sale:
- For shares sold on or before Nov. 8, 2023, the recognized loss is $0.
- For shares sold between Nov. 9, 2023, and Feb. 6, 2024, the recognized loss is the lesser of $4.80 per share or the difference between the purchase price and the average closing price as of the sale date (see the closing price table on Page 11 of the class notice).
- For shares held as of the close of trading on Feb. 6, 2024, the recognized loss is the lesser of $4.80 per share or the difference between the purchase price and $14.54 per share.
- If total recognized losses exceed the net settlement fund, the settlement administrator will reduce payments on a pro rata basis.
- Class members whose payment would be less than $10 will not receive a payout.
How to claim an Amylyx securities class action settlement payment
Class members may file a claim online or download, print and complete the PDF claim form and mail it to the settlement administrator. The claim deadline is Aug. 31, 2026.
Settlement administrator's mailing address: Amylyx Pharmaceuticals Inc. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Suite 205, P.O. Box 230, Media, PA 19063
Proof or documentation required to submit a claim
All class members must provide their Social Security number or taxpayer identification number. They must also provide holdings and transaction information, including:
- Number of shares held as of the close of trading on Nov. 10, 2022
- Trade dates for purchases, acquisitions and sales from Nov. 11, 2022, through Feb. 6, 2024
- Number of shares purchased, acquired or sold
- Total purchase, acquisition or sale price
- Number of shares held as of the close of trading on Feb. 6, 2024
Class members must also provide documentation to support their transactions in Amylyx securities. Acceptable proof includes:
- Broker confirmation slips
- Broker account statements
- Other documentation showing purchases, acquisitions and sales of Amylyx securities
Payout options
- Physical check
$6.5 million settlement fund
The $6,500,000 settlement fund includes:
- Settlement administration costs: To be determined
- Attorneys' fees: Up to $2,166,666.67
- Attorneys' expenses: Up to $100,000
- Service award to plaintiff: Up to $2,500
- Payments to eligible class members: Remainder of the fund
Important dates
- Opt-out deadline: Aug. 11, 2026
- Deadline to file a claim: Aug. 31, 2026
- Final approval hearing: Sept. 10, 2026
When is the Amylyx securities class action settlement payout date?
The settlement administrator will issue payments after it processes all claims and the court resolves any appeals and grants final approval of the settlement.
Why did this class action settlement happen?
The class action lawsuit alleged Amylyx Pharmaceuticals Inc. and certain executives made materially false and misleading statements about the commercial launch of its ALS treatment, Relyvrio, in violation of federal securities laws. The plaintiff claimed these statements artificially inflated the price of Amylyx securities and caused investor losses when the company issued corrective information.
The defendants denied all allegations of wrongdoing but agreed to settle to avoid the costs, risks and delays of continued litigation.
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.svg)