December 11, 2025
Summary by Bloomberg AI
- InnovAge Holding Corp.‘s $27 million deal earned a federal court’s final blessing to resolve investor allegations it misrepresented its elder care quality surrounding its initial public offering.
- The court-certified class includes those who got InnovAge stock from May 11, 2021, through Dec. 22, 2021, or in or traceable to the company’s IPO
- Cohen Milstein Sellers & Toll PLLC, class counsel, said the approval resolved “this high-profile certified securities fraud class action”
InnovAge Holding Corp.‘s $27 million deal earned a federal court’s final blessing to resolve investor allegations it misrepresented its elder care quality surrounding its initial public offering.
Judge William J. Martinez approved the settlement, ending the class action against a slew of defendants who helped facilitate the 2021 IPO, Wednesday in the US District Court for the District of Colorado. Counsel for the public pension funds leading the case will get 20% of that sum, or $5.40 million, in attorneys’ fees plus over $339,000 in litigation expenses.
- The settlement approval comes after four years of litigation against the elder care company, its underwriters, interconnected private equity firms, and certain current and former InnovAge officers and directors
- The court-certified class includes those who got InnovAge stock from May 11, 2021, through Dec. 22, 2021, or in or traceable to the company’s IPO
- Cohen Milstein Sellers & Toll PLLC, class counsel, in an emailed press release said the approval resolved “this high-profile certified securities fraud class action”
Read InnovAge’s $27 Million IPO Investor Agreement Gets Court Nod (1).