Rockley Photonics $10M Securities Class Action Settlement

Brandon Richards

Legal Content Writer

Published

August 31, 2026 10:55 AM

Updated

August 31, 2026

Who can file a claim?

The settlement includes all persons and entities who purchased or otherwise acquired Rockley Photonics Holdings Ltd. common stock between Aug. 11, 2021, and Jan. 23, 2023, inclusive, and were harmed as a result.

Additional details

Both individuals and entities can be class members.
The settlement includes investors who held shares in their own name and those who held through a broker or other nominee.
The actual beneficial owner or a legal representative must submit the claim.
Joint owners must each sign the claim form.
Executors, administrators, guardians, conservators and trustees may submit claims on behalf of others and must provide proof of authority.
Each separate legal entity must submit one claim form, and claimants filing for multiple accounts must submit a separate claim form for each account.

How much can class members get?

The total settlement fund is $10,000,000. 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 of each purchase and sale and the prices paid or received
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 $0.11 per damaged share before deductions for court-approved fees and expenses.
Actual payments may be higher or lower depending on individual claims and the total number of valid claims.
Decline in inflation refers to the drop in the alleged artificial inflation in Rockley's stock price between the purchase date and the sale date. The notice lists the amounts by date range in Table 1 (Page 7 of the class notice).
The settlement administrator will calculate a recognized loss for each purchase or acquisition of Rockley common stock made during the class period:

For shares sold before May 12, 2022, the recognized loss is $0.
For shares sold from May 12, 2022, through Jan. 23, 2023, the recognized loss is the lesser of the decline in inflation during the holding period or the purchase price minus the sale price.
For shares sold from Jan. 24, 2023, through the close of trading on March 14, 2023, the recognized loss is the least of the decline in inflation during the holding period, the purchase price minus the sale price or the purchase price minus the average closing price between Jan. 24, 2023, and the sale date listed in Table 2 (Page 8 of the class notice).
For shares held as of the close of trading on March 14, 2023, the recognized loss is the lesser of the decline in inflation during the holding period or the purchase price minus $0.03, the average closing price between Jan. 24, 2023, and March 14, 2023.

The settlement administrator will match sales against purchases on a first-in, first-out basis.
Class members qualify for a payment only if they had a net overall loss on their class period transactions.
If a claimant's total recognized claim exceeds their actual market loss, the settlement administrator will limit the recognized claim to that market loss.
The settlement administrator will set any recognized loss that calculates to a negative number or zero to $0.
Class members whose payment would be less than $10 will not receive a payout.

How to claim a Rockley 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. 15, 2026.

Settlement administrator's mailing address: Rockley Securities Settlement, Claims Administrator, c/o Verita Global, P.O. Box 301170, Los Angeles, CA 90030-1170

Proof or documentation required to submit a claim

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

Number of shares held at the close of trading on Aug. 10, 2021
Trade dates for all purchases, acquisitions and sales between Aug. 11, 2021, and March 14, 2023
Number of shares purchased, acquired or sold
Total purchase or acquisition price and total sale price, excluding commissions, taxes and fees
Number of shares held at the close of trading on Jan. 23, 2023, and March 14, 2023

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

Broker confirmation slips
Broker account statements
Other documents evidencing transactions in Rockley common stock

Payout options

Physical check
Electronic payment

$10 million settlement fund

The $10,000,000 settlement fund includes:

Settlement administration costs: To be determined
Attorneys' fees: Up to $3,000,000
Attorneys' expenses: Up to $450,000
Service awards to lead plaintiffs: Up to $17,000 total
Payments to eligible class members: Remainder of the fund

Important dates

Opt-out deadline: Sept. 29, 2026
Deadline to file a claim: Oct. 15, 2026
Fairness hearing: Oct. 20, 2026

When is the Rockley 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 Andrew Rickman, Mahesh Karanth and Richard Meier made false and misleading statements about Rockley's revenue projections, product development and customer relationships, including with Apple and Samsung. The plaintiffs claimed those statements inflated Rockley's stock price and corrective disclosures caused investor losses.

The defendants denied all allegations of wrongdoing but agreed to settle after concluding that further defense of the case would be protracted and expensive.