The Column Group/NGM $6M Securities Settlement

Record holders or beneficial owners of NGM Biopharmaceuticals Inc. common stock who either received $1.55 per share in cash at the closing of the take-private transaction with The Column Group LP on or about April 5, 2024, or dissented from the transaction may qualify to receive a pro rata share of a class action settlement.

The Column Group LP agreed to pay $6,000,000 to resolve a class action lawsuit alleging breaches of fiduciary duty and related claims in connection with the acquisition of NGM Biopharmaceuticals Inc.

Who are the class members?

Class members include individuals and entities who meet all of the following criteria:

• They were record holders or beneficial owners of NGM Biopharmaceuticals Inc. (Nasdaq: NGM) common stock as of April 5, 2024, the date the take-private transaction closed.
• They either received $1.55 per share in cash when the transaction closed or dissented from the transaction.

The class includes heirs, successors in interest, successors, transferees and assigns of such shareholders.

It does not include “rollover stockholders” (those who rolled their shares into the new private company).

The class covers approximately 43.8 million shares.

How much can class members get?

Pro rata payment: The total settlement fund is $6,000,000. Th settlement administrator will distribute the amount pro rata among eligible class members after deductions for taxes, notice and administration costs, attorneys’ fees and expenses and any incentive award to the lead plaintiff.

Each eligible class member will receive a payment based on the number of eligible shares they held at the time of the transaction. The per-share recovery is calculated by dividing the net settlement fund by the total number of eligible shares held by all eligible class members.

No action needed to receive payment

Eligible class members do not need to submit a claim form to receive payment. The settlement administrator will automatically send them payment.

Payout options

If the class member:

• Held shares through a broker, the broker will deposit the payment into their account
• Was a registered shareholder, they will receive direct payment
• Held shares in a street name (through a broker), they will receive payment in the brokerage account
• Held shares as a registered owner, the shareholder will receive payment

$6 million settlement fund breakdown

The $6,000,000 settlement fund includes:

• Settlement administration and notice costs: Up to $250,000
• Attorneys’ fees and expenses: Up to 20% of the settlement fund (maximum $1,200,000)
• Service award to class representative: Up to $5,000, paid from attorneys’ fees

• Payments to eligible class members: The remainder of the fund

Important dates

• Fairness hearing: Oct. 21, 2025

When is The Column Group settlement payout date?

The settlement administrator will distribute payments after the court grants final approval of the settlement and resolves any appeals.

Why was there a class action settlement?

The class action lawsuit alleged that when The Column Group LP acquired NGM Biopharmaceuticals Inc. in April 2024, The Column Group, as a controlling stockholder, and certain directors and officers breached their fiduciary duties. The plaintiff claimed The Column Group engaged in conflicts of interest, inadequate disclosures to shareholders and unfair share prices of claims 1.55 per share.

The defendants denied all allegations but agreed to settle to avoid the burden and expense of further litigation.

Sources

1. Class notice
2. Settlement agreement