InnovAge Holding Corp. $27 Million Securities Settlement

Consumers who purchased or otherwise acquired InnovAge Holding Corp. publicly traded common stock between May 11, 2021, and Dec. 22, 2021, or bought shares in or traceable to InnovAge’s March 4, 2021, initial public offering may qualify to claim a cash payment from a class action settlement.

InnovAge Holding Corp. agreed to pay $27,000,000 to resolve a class action lawsuit alleging the company and other defendants violated federal securities laws by making materially false and misleading statements and omissions in connection with its IPO and subsequent public statements.

Who is eligible for an InnovAge payout?

Class members must meet at least one of the following criteria:

• They purchased or otherwise acquired InnovAge publicly traded common stock between May 11, 2021, and Dec. 22, 2021.
• They purchased or otherwise acquired InnovAge publicly traded common stock in or traceable to InnovAge’s March 4, 2021, IPO and were damaged as a result.

Both individuals and entities can be class members if they meet these criteria.

How much can class members get?

The total settlement fund is $27,000,000. The estimated average recovery per affected share, before deductions for fees and expenses, is $0.699. After deductions, the average recovery is estimated at $0.538 per affected share.

The actual amount each class member receives depends on several factors:

• The number of valid claims submitted
• The number of shares they purchased/acquired and/or sold and when those transactions occurred
• The total number of affected shares claimed by all class members

How to claim a securities payout

Class members can file a claim online or download, print and complete the PDF claim form (Page 20) and mail it to the settlement administrator. Claims must be postmarked or submitted online no later than Nov. 5, 2025.

Settlement administrator's mailing address: InnovAge Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Suite 205, Media, PA 19063

What information is required to submit a claim?

Class members must provide documentation verifying their transactions in InnovAge publicly traded common stock. Acceptable documentation includes:

• Broker confirmation slips
• Monthly brokerage account statements
• An authorized statement from a broker containing the required transaction and holding information

Failure to provide adequate documentation may result in claim rejection.

Payout options

Payments to eligible claimants will be made by paper check mailed to the address the class member provides on the claim form.

$27 million stockholder settlement fund breakdown

The $27,000,000 settlement fund covers:

• Notice and administration costs: To be determined
• Attorneys' fees: Up to $5,400,000
• Attorneys' expenses: Up to $800,000
• Taxes: To be determined
• Payments to class members: Remainder of the settlement fund

Important dates

• Claim deadline: Nov. 5, 2025
• Exclusion deadline: Nov. 5, 2025
• Fairness hearing: Nov. 26, 2025

When is the InnovAge securities litigation payout date?

Payments to eligible class members will be made after the court grants final approval to the settlement and any appeals or objections are resolved.

Why did this class action settlement happen?

The class action lawsuit alleged InnovAge and related defendants violated federal securities laws by making materially false and misleading statements and omissions in connection with its IPO and subsequent public statements. The plaintiffs claimed these misrepresentations caused InnovAge’s stock price to artificially inflate and then decline when the truth was revealed.

The parties reached the settlement to provide recovery to class members while avoiding the risks, delays and expenses of continued litigation. The defendants deny any wrongdoing.

Sources

1. Settlement agreement
2. Class notice