WELCOME TO THE CMLS STOCKHOLDER SETTLEMENT WEBSITE
The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (“Notice”). Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
This website relates to a proposed settlement of a stockholder class action (“Action”) brought by plaintiffs Todd Katz and Xianming Zhou (together, “Plaintiffs”) against defendants CM Life Sciences Holdings, LLC, Eli D. Casdin, Keith A. Meister, Sean George, Emily Leproust, Nat Turner, Munib Islam, Brian Emes, Shaun Rodriguez, Corvex Management LP, and Casdin Capital, LLC (collectively, “Defendants”), asserting claims for breach of fiduciary duty, aiding and abetting thereof, and unjust enrichment. Defendants deny all claims and contentions of wrongdoing alleged in the Action.
The Court has not decided in favor of Defendants or Plaintiffs. Instead, both sides have agreed to a settlement of the Action for $21 million in cash (“Settlement”) for the benefit of the Class. On December 2, 2024, the Court will hold a Settlement Hearing to consider final approval of the Settlement and related matters.
If you are a member of the Class, you are subject to the Settlement. The Class consists of:
All Persons who held shares of CM Life Sciences, Inc. (“CMLS”) Class A common stock as of the Redemption Deadline (July 19, 2021) through the closing of the Merger (July 22, 2021), directly or indirectly, either of record or beneficially, including their heirs, successors-in-interest, successors, transferees, and assigns, but excluding the Excluded Persons.
Excluded from the Class are: (i) CM Life Sciences Holdings, LLC, Eli D. Casdin, Keith A. Meister, Sean George, Emily Leproust, Nat Turner, Munib Islam, Brian Emes, Shaun Rodriguez, Corvex Management LP, and Casdin Capital, LLC, as well as the members of their immediate families, and any entity in which any of them has a controlling interest, and the legal representatives, heirs, successors, or assignees of any such excluded party; and (ii) any trusts, estates, entities, or accounts that held shares of CMLS Class A or Class B common stock for the benefit of any of the foregoing (together, the “Excluded Persons”).
Please read the Notice to fully understand your rights and options. Copies of the Notice and Proof of Claim and Release can be found in the Case Documents and File Claim tabs at the top of this page.
Payments to eligible claimants will be made only if the Court approves the Settlement and Plan of Allocation, after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
CLASS MEMBERS’ LEGAL RIGHTS IN THE SETTLEMENT
| TO RECEIVE A PAYMENT FROM THE SETTLEMENT, CLASS MEMBERS MUST SUBMIT A PROOF OF CLAIM AND RELEASE NO LATER THAN DECEMBER 12, 2024. |
If you are a member of the Class, you may be eligible to receive a distribution from the Settlement proceeds. Eligible Class Members must submit a Proof of Claim and Release in order to receive a distribution from the Settlement, if approved by the Court. If you are eligible for a distribution from the Settlement, it will be paid to you directly. |
| OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN NOVEMBER 18, 2024. |
If you are a member of the Class and would like to object to the proposed Settlement, the proposed Plan of Allocation, and/or Plaintiffs’ Counsel’s Fee Application, including Plaintiffs’ application for a service award, you may write to the Court and explain the reasons for your objection. |
| ATTEND A HEARING ON DECEMBER 2, 2024, AT 11:00 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN NOVEMBER 18, 2024. |
Filing a written objection and notice of intention to appear that is received by November 18, 2024 allows you to speak in Court, at the discretion of the Court, about your objection. In the Court’s discretion, the December 2, 2024 hearing may be conducted by telephone or videoconference. If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection. |
IMPORTANT DATES AND DEADLINES
| Submit Proof of Claim: |
December 12, 2024 |
| Object to the Settlement |
November 18, 2024 |
| Settlement Hearing |
December 2, 2024 at 11:00 a.m. |