ChemoCentryx $69M Securities Class Action Settlement

William C. Gendron

Editor in Chief

Published

July 27, 2026 1:18 PM

Updated

July 27, 2026

Who can file a claim?

The settlement class includes all persons who purchased or otherwise acquired ChemoCentryx common stock between Nov. 26, 2019, and May 6, 2021, inclusive, and suffered damaged.

Additional details

Both individuals and entities can be class members.
Each separate legal entity or separately managed account must submit a separate claim.
The beneficial owner, not the record owner, must sign the claim form, and all joint beneficial owners must sign.
Agents, executors, administrators, guardians and trustees may submit claims on behalf of others and must provide proof of authority.
Participants in and beneficiaries of any employee retirement or benefit plan covered by ERISA should report only shares purchased or held outside the plan on an individual claim form.
Plan trustees may submit claims for shares purchased or held through an ERISA plan.

How much can class members get?

The total settlement fund is $69,000,000. 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 and prices of each purchase and sale
The total recognized claims 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 $2.88 per eligible share before deductions. After estimated attorneys' fees and litigation expenses of $0.84 per share, the estimated net average recovery is approximately $2.04 per share before taxes and administration costs.
Actual payments may be higher or lower depending on individual claims and the total number of valid claims.
The settlement administrator will calculate a recognized loss for each purchase or acquisition the class member made during the class period based on the artificial inflation in the stock price, the purchase and sale prices and the timing of each transaction.

For shares sold before the close of trading on May 3, 2021, the recognized loss is $0.
For shares sold from May 4, 2021, through the close of trading on May 6, 2021, the recognized loss is the lesser of the artificial inflation on the purchase date minus the artificial inflation on the sale date (Table A on pages 21-23 of the settlement notice) or the purchase price minus the sale price.
For shares sold from May 7, 2021, through the close of trading on Aug. 4, 2021, the recognized loss is the least of the artificial inflation on the purchase date, the purchase price minus the average closing price from May 7, 2021, through the sale date (Table B on Page 24 of the settlement notice) or the purchase price minus the sale price.
For shares held as of the close of trading on Aug. 4, 2021, the recognized loss is the lesser of the artificial inflation on the purchase date or the purchase price minus $12.85, the mean closing price during the 90-day look-back period.

Class members must have held their class period shares through at least the close of trading on May 3, 2021, to have a recognized loss. Those who purchased on May 4, 2021, or May 5, 2021, must have held those shares through at least the close of trading on May 5, 2021.
The settlement administrator will match purchases and sales on a first-in, first-out basis.
The settlement administrator will set any recognized loss that calculates to a negative number or zero to $0.
For claimants who had an overall market gain on their class period transactions, the settlement administrator will set their recognized claim to $0. For claimants whose overall market loss is smaller than their recognized claim, the settlement administrator will limit their claim to the market loss.
If total recognized claims 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 a ChemoCentryx 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 Oct. 1, 2026.

Settlement administrator's mailing address: ChemoCentryx Securities Litigation, c/o Kroll Settlement Administration, P.O. Box 5013, New York, NY 10150-5013

Proof or documentation required to submit a claim

All class members must provide the last four digits of their Social Security number or taxpayer identification number. They must also provide holding, purchase and sale information, including:

Number of shares held as of the opening of trading on Nov. 26, 2019
Trade dates for purchases and sales from Nov. 26, 2019, through Aug. 4, 2021
Number of shares purchased, acquired or sold
Total purchase, sale or acquisition price
Number of shares held as of the close of trading on Aug. 4, 2021

Class members must also provide documentation to support their holdings and transactions in ChemoCentryx common stock. Acceptable proof includes:

Broker confirmation slips
Broker account statements
Authorized statements from a broker or other financial institution containing the transactional and holding information found in a confirmation slip or account statement

Payout options

Physical check

$69 million settlement fund breakdown

The $69,000,000 settlement fund includes:

Notice and administration costs: To be determined
Attorneys' fees: Up to $15,180,000
Litigation expenses: Up to $5,000,000
Payments to eligible class members: Remainder of the fund

Important dates

Deadline to file a claim: Oct. 1, 2026
Fairness hearing: Oct. 29, 2026

When is the ChemoCentryx securities class action settlement payout date?

The settlement administrator will issue payments to eligible claimants after it processes all claims and the court resolves any appeals and grants final approval to the settlement.

Why did this class action settlement happen?

The class action lawsuit alleged ChemoCentryx and its former CEO made false and misleading statements about the safety and efficacy of the company's vasculitis drug avacopan, the results of its Advocate Phase 3 clinical trial and the company's communications with the FDA about the drug's approval. The plaintiff claimed these statements inflated ChemoCentryx's stock price and caused investor losses when the company issued corrective information.

The defendants denied all allegations of wrongdoing but agreed to settle to avoid the risks, burden and expense of continued litigation.