Blue Apron Securities Settlement

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Blue Apron Securities Settlement
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The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action, (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional information.

 

If you are a Settlement Class Member, your legal rights will be affected by this Settlement whether you act or do not act.

 

Please read the Notice carefully.



SUBMIT A CLAIM FORM NO LATER THAN MARCH 27, 2021

The only way to get a payment.

EXCLUDE YOURSELF NO LATER THAN APRIL 19, 2021

Get no payment. This is the only option that allows you to ever be part of any other lawsuit against the Defendants or the other Released Defendant Parties about the legal claims in this case.

OBJECT NO LATER THAN  APRIL 19, 2021

Write to the Court about why you do not like the Settlement.

GO TO A HEARING ON MAY 10, 2021 AT 10:00 A.M.

Ask to speak in Court about the fairness of the Settlement.

DO NOTHING

Get no payment.  Give up rights.

 

The Settlement Fairness Hearing

The Court will hold a Settlement Fairness Hearing on MAY 10, 2021 at 10:00 a.m.., before the Honorable Nicholas G. Garaufis at the United States District Court, Eastern District of New York, Courtroom 6H N, 225 Cadman Plaza East Brooklyn, New York 11201, for the purpose of determining whether: (1) the Settlement of the Litigation for $13,250,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) to award Plaintiff’s Counsel attorneys’ fees and expenses out of the Settlement Fund; (3) to pay Plaintiff for its time and expenses incurred in representing the Class; (4) the Plan of Allocation should be approved by the Court; and (5) to ender the final Judgment as provided under the Stipulation.  The Court may adjourn or continue the Settlement Fairness Hearing without further notice to Members of the Class.  If you want to attend the hearing, you should check with Plaintiff’s Counsel or the settlement website beforehand to be sure that the date and/or time have not changed.

Any Class Member may appear at the Settlement Fairness Hearing and be heard on any of the foregoing matters.

What is this case about?

The Action involves allegations that Defendants violated certain federal securities laws by making misrepresentations or omissions of material fact concerning Blue Apron’s business, operational, and compliance policies.  The Amended Class Action Complaint (“Complaint”) alleges that once true facts were disclosed, Blue Apron’s share price plummeted.  Defendants have denied and continue to deny each, any, and all allegations of wrongdoing, fault, liability, or damage whatsoever asserted in the Action. The Settlement shall in no event be construed as, or deemed to be evidence of, liability, fault, wrongdoing, injury, or damages, or of any wrongful conduct, acts, or omissions on the part of any of the Released Parties, or of any infirmity of any defense, or of any damages to the Plaintiffs or any other Settlement Class Member. The Settlement resolves all of the claims in the Action, as well as certain other claims or potential claims, whether known or unknown.

The Settlement Benefits  

The Settlement, if approved, will result in the creation of a cash settlement fund of $13,250,000 (the “Settlement Amount”).  The Settlement Amount, plus accrued interest (the “Settlement Fund”) and minus the costs of this Notice and all costs associated with the administration of the Settlement, as well as any attorneys’ fees and expenses that may be approved by the Court (the “Net Settlement Fund”), will be distributed to Class Members pursuant to the Plan of Allocation that is described in the next section of this Notice.

Further Information

This website and the Notice summarize the Settlement.  For more details regarding the Settlement please reference the Settlement Agreement, or other documents filed in the case under the “Court Documents” link on the left.  You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement:

Claims Administrator:

Blue Apron Holdings, Inc. Securities Litigation

Claims Administrator

c/o A.B. Data

P.O. Box 173115

Milwaukee, WI 53217

Phone: (877) 884-3360

www.BlueApronSecuritiesSettlement.com


Lead Counsel:

Jeremy A. Lieberman, Esq.

POMERANTZ LLP

600 Third Avenue, 20th Floor

New York, New York 10016

 

Phillip Kim, Esq.

THE ROSEN LAW FIRM, P.A.

275 Madison Avenue, 40th Floor

New York, New York 10016

 
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