Exicure (XCUR) $5.6M Investor Settlement
Exicure has agreed to a $5,6 million settlement with investors. Investors claim the company misled them by overstating the progress of its preclinical research for Friedreich’s ataxia treatment and concealing significant data issues.
Exicure allegedly misled investors by hiding critical problems in its preclinical research for Friedreich’s ataxia treatment, resulting in a share price drop of about 33.9% and significant financial losses.
January - December 2021: Exicure reported strong progress on Friedreich’s ataxia treatment, boosting investor confidence with presentations and data that were later proven to be fabricated.
November 2021: Exicure hinted at issues, announcing an investigation into potential misconduct, causing a drop in stock prices.
December 2021: Exicure admitted to data fabrication, leading to further stock declines and investor losses.
Throughout 2021, Exicure consistently provided upbeat updates on its research into Friedreich’s ataxia, a genetic disorder affecting the nervous system. The company highlighted promising preclinical data during events like R&D Day, suggesting that the treatment was on the verge of entering clinical trials. These claims, which were shared widely with investors, painted an optimistic picture of the project’s future.
However, it was later uncovered that much of this data had been fabricated by Dr. Grant Corbett, the Group Head of Neuroscience at Exicure. Despite being aware of these fabrications, the company continued to issue positive statements, misleading investors about the true state of the research.
The truth was finally revealed in December 2021, when Exicure disclosed through an SEC filing and internal investigation that the data was falsified. This disclosure led to a sharp decline in the company's stock price, resulting in significant financial losses for its investors.
Exicure recently decided to resolve the suit and settle $5,6M with investors to end all allegations related to the concealing of critical research issues.
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 who purchased or otherwise acquired Exicure common stock during the period from January 7, 2021 through December 10, 2021, inclusive, 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 $0.14 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $0.56 per share.
11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:
Prepare documents for your payout
Audit the claim and make sure you get the maximum possible payout
File a claim with the settlement administration
Correspond with the settlement administration to resolve emerging issues
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.