Aimmune Therapeutics (AIMT) Investor Settlement
Aimmune 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.
Frequently Asked Questions
All persons or entities who purchased or otherwise acquired publicly traded Aimmune Therapeutics common stock during the period from September 14, 2020, through October 9, 2020, inclusive, and had their shares exchanged for $34.50 per share in connection with the closing of the merger on October 13, 2020, and were damaged thereby.
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
The final payout amount depends on your specific trades and the number of investors participating in the settlement.
If 100% of investors file their claims - the average payout will be $0.60 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $2.4 per share.
11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:
1. Prepare documents for your payout
2. Audit the claim and make sure you get the maximum possible payout
3. File a claim with the settlement administration
4. Correspond with the settlement administration to resolve emerging issues
5. Deliver payout directly to your brokerage account
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.