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TerraVia Holdings $2.5 Million Settlement: Claim Your Share

Eligible claimants are those who purchased or otherwise acquired TerraVia common stock between May 4, 2016, and November 6, 2016, and could get a payment.

TerraVia Holdings $2.5 Million Settlement: Claim Your Share
Updated on
Published on

Settlement Terms

  • Status:
    Closed
  • Award:
    $0.15 per share
  • Is Proof Required?
    Yes
  • Claim Deadline:
    May 23, 2024
    Not Set
  • Days Left to File Claim:
    0
  • Settlement Amount:
    $2,500,000.00
  • Final Approval:
Settlement summaries by Claim Depot are written for people who might be eligible to claim class action settlement awards. Our goal is to provide the reader all relevant information about the settlement so they can claim their lawsuit funds. Claim Depot uses artificial intelligence (AI) to extract data from the vast amounts of text on the Official Settlement Website and in the court documents. Then, our writers, who are licensed attorneys, write the summary in plain English so the greater public can better understand their rights.

The recent legal developments surrounding TerraVia Holdings, Inc. have culminated in a class action settlement that could benefit many individuals. If you invested in TerraVia Holdings, Inc. during a specific period, you might be eligible for a portion of the $2.5 million settlement fund. This article serves as an informative guide to help you understand if you qualify for the settlement, the potential benefits you could receive, and the steps you need to take to claim your award.

Who Benefits?: Individuals who purchased or otherwise acquired TerraVia common stock between May 4, 2016, and November 6, 2016.

How much can I get?: The average recovery is approximately $0.15 per share before deductions for court-approved fees and expenses.

Important Dates

  • Fairness Hearing: Scheduled for June 13, 2024.
  • Deadline to File a Claim: Claims must be filed online or postmarked by May 23, 2024.

Eligibility Criteria for Class Members

The settlement class includes all those who purchased or otherwise acquired TerraVia common stock during the Settlement Class Period, from May 4, 2016, through November 6, 2016. This period is significant as it encompasses the time when the alleged misleading statements were made, potentially influencing the stock's value.

  • Purchasers of TerraVia common stock between May 4, 2016, and November 6, 2016
  • Those who held shares through the disclosure event on November 7, 2016

There are no specific exclusions mentioned for Class Members other than those who request exclusion from the settlement.

Understanding the Settlement Awards

The settlement fund of $2.5 million is intended to be distributed to Class Members who file valid claims. The average recovery is estimated at approximately $0.15 per share before deductions for court-approved fees and expenses, which include attorney fees, administrative costs, and plaintiff awards.

  • Average recovery per share before deductions: Approximately $0.15
  • Deductions: Court-approved fees and expenses

The Products at the Heart of the TerraVia Settlement

The settlement arises from allegations that TerraVia and certain officers made false and/or misleading statements regarding the company's algae-based products. These statements were related to the safety and quality of the products, which are central to the company's operations and financial performance.

  • Algae-based products
  • Statements about product safety and quality

Is Proof Required to Claim the Reward?

To participate in the settlement and claim an award, Class Members must submit a valid Proof of Claim form. This form requires detailed information about the TerraVia common stock transactions made during the Settlement Class Period, including the number of shares purchased or sold, the dates of these transactions, and the prices paid or received.

How to Claim Your Award

To claim your award from the TerraVia settlement, complete and submit a Proof of Claim form by 11:59 p.m. EST on May 23, 2024, or mail your claim with a postmark no later than May 23, 2024. The form requires detailed information about your TerraVia stock transactions during the Settlement Class Period. Be sure to sign the form and attach all required documentation before submission.

Analyzing the TerraVia Settlement Amount

The $2.5 million settlement amount represents a collective effort to address the losses potentially suffered by TerraVia stockholders due to the alleged misleading statements. This fund is a negotiated amount that aims to compensate Class Members without the need for a protracted court battle.

Why Is There a Class Action Settlement for TerraVia?

The class action settlement arises from a lawsuit alleging that TerraVia and certain officers made false and/or misleading statements about the company's algae-based products, potentially violating federal securities laws. The settlement aims to compensate investors who may have been financially harmed by these alleged misrepresentations.

The settlement provides a way for affected investors to recover losses without enduring the uncertainties and expenses of ongoing litigation. The Fairness Hearing on June 13, 2024, will determine the settlement's final approval.

Case Facts

  • Case Number:
    16-cv-06633-JD
  • Filing Date:
  • Jurisdiction:
  • State:
  • Court:
  • Plaintiff:
  • Defendant:
    TerraVia Holdings, Inc.
  • Plaintiff Firm:
    Pomerantz LLP
  • Claims Admin:
    Strategic Claims Services P.O. Box 230 600 N. Jackson St., Ste. 205 Media, PA 19063 (866) 274-4004 info@strategicclaims.net
  • Defendant Firm:
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Settlement Agreement

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Settlement Agreement

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