Case Updates
BFA Seeks Court Approval of $5.625 Million Class Settlement of Exicure, Inc. Securities Litigation
On September 6, 2024, Bleichmar Fonti & Auld LLP, on behalf of Lead Plaintiff James Mathew, sought preliminary approval of a $5.625 million class settlement of litigation against Exicure, Inc. and certain of its former executives.
The litigation alleged that defendants made misstatements concerning Exicure’s XCUR-FXN drug data and disclosure controls. In the proposed settlement, BFA secured a settlement fund of $5.625 million, which, after costs and expenses, will be distributed to individuals and entities who purchased or otherwise acquired Exicure common stock during the Class Period of January 7, 2021 through December 10, 2021, both inclusive, and were damaged thereby.
The settlement represents a substantial recovery of over 22% of maximum estimated damages, more than four times higher than the 4.5–4.8% average recovery in Section 10(b) cases between 2014-2023.
The settlement is currently pending approval before Judge John Kness of the United States District Court for the Northern District of Illinois.
The settlement papers, including the Stipulation of Settlement and all exhibits, are available here.
The litigation alleged that defendants made misstatements concerning Exicure’s XCUR-FXN drug data and disclosure controls. In the proposed settlement, BFA secured a settlement fund of $5.625 million, which, after costs and expenses, will be distributed to individuals and entities who purchased or otherwise acquired Exicure common stock during the Class Period of January 7, 2021 through December 10, 2021, both inclusive, and were damaged thereby.
The settlement represents a substantial recovery of over 22% of maximum estimated damages, more than four times higher than the 4.5–4.8% average recovery in Section 10(b) cases between 2014-2023.
The settlement is currently pending approval before Judge John Kness of the United States District Court for the Northern District of Illinois.
The settlement papers, including the Stipulation of Settlement and all exhibits, are available here.