AIMT.US
id: 1384
Aimmune Therapeutics (AIMT) Investor Settlement
Eligible claimants can submit their claims for compensation.
$27,500,000
Cash SettlementN.D. California
Court3:20-cv-06733
Case number09/14/2020
Class period Start10/09/2020
Class period End06/06/2025
Claim deadlineAimmune Therapeutics reached a settlement with $AIMT investors over claims that it misled them on financial details and the fairness of its merger with Nestlé.
Outline
In August 2020, Aimmune Therapeutics announced a merger with Nestlé at $34.50 per share, assuring investors it was a fair deal. However, the board’s Recommendation Statement left out key financial details, raising concerns about the valuation. A month later, Aimmune faced a lawsuit from investors.
Timeline
- August 29, 2020: Aimmune announced its merger with Nestlé at $34.50 per share, assuring investors it was a fair deal.
- September 14, 2020 – Aimmune’s board released a Recommendation Statement outlining the merger details, but it did not include key financial projections like cash flow estimates and discount rates.
- September 25, 2020 – Following this, investors filed a lawsuit, claiming Aimmune misled them about how the merger was valued.
- January 17, 2025: Aimmune agreed to a $27.5 million settlement to resolve the claims.
Background
In August 2020, Aimmune Therapeutics, a biopharmaceutical company specializing in food allergy treatments, announced its merger with Nestlé.
After the merger announcement, Aimmune’s board released a Recommendation Statement outlining the deal’s valuation. However, the statement left out cash flow estimates, key assumptions about future profits, and the calculations used to assess the deal’s value.
It also lacked details on how comparable companies and transactions were selected, making it unclear whether the valuation was fair and leaving investors without key financial metrics to assess the merger.
A month later, investors filed a lawsuit, claiming Aimmune misrepresented the fairness of the merger.
What Can Investors Expect Now?
Aimmune Therapeutics has reached a settlement with $AIMT investors over claims that it misled them about key financial projections and valuation metrics related to its merger with Nestlé.
If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section below.
Case Status
Accepting Claims
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Breach of Fiduciary duty
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.6
Filing date
08/31/2020
Lead Plaintiff Deadline
09/25/2020
Plaintiffs
Steven Germano; Cecilia Pemberton; Bruce Svitak; Barbara C. Svitak
Attorneys
Kahn Swick & Foti, LLC; Monteverde & Associates PC
Judge
James Donato
Administrator
RG/2
Settlement agreement date
2025-01-17
Court hearing date
07/18/2025
Exclusion deadline
06/06/2025
Attorney fee
$9,616,667
Trades matching type
FIFO
Frequently Asked Questions
Who is eligible for this settlement?
Do I have to sell securities to be eligible?
How long does the payout process take?
How much will my payment be?
What is 11th Estate?