If you bought Novavax (NVAX) stock during the May–October 2021 class period, here is where this $47 million investor settlement stands now that the claim deadline has passed.
What Was the Novavax Securities Settlement About?
Novavax reached a $47,000,000 class action settlement over accusations that it made false statements and omissions that artificially inflated its stock price, causing financial losses for investors who purchased the stock during the class period. Novavax is a biotechnology company based in Gaithersburg, Maryland that develops vaccines to combat serious infectious diseases. Novavax denies wrongdoing, and the settlement is now closed to new claims.Who Qualified for a Payout?
Class members are investors who bought or otherwise acquired Novavax publicly traded common stock (NASDAQ: NVAX) between May 11, 2021 and October 19, 2021 and suffered financial losses as a result.How Much Could Class Members Get?
The defendants agreed to pay $47,000,000 to settle the claims. That amount, plus any interest, is divided among valid claimants after court-approved deductions. Each claim is calculated under a Plan of Allocation that considers when the stock was bought and sold and the loss suffered, so that the fund is distributed pro rata among eligible claimants based on recognized loss.Was Proof Required?
Yes. Claimants had to submit a timely, valid claim form with documentation of their Novavax stock transactions, such as brokerage statements or trade confirmations. If you filed and need help with a submitted claim, use the contact form on the official settlement website.Frequently Asked Questions About the Novavax Settlement
What was the Novavax class action about?
Novavax reached a $47 million settlement over accusations that it made false statements and omissions that artificially inflated its stock price, causing losses for investors who bought NVAX common stock during the class period. Novavax denies wrongdoing.
Who qualified for the Novavax settlement?
Investors who purchased or otherwise acquired Novavax publicly traded common stock (NASDAQ: NVAX) between May 11, 2021 and October 19, 2021 and suffered losses as a result.
How were Novavax settlement payments calculated?
The $47,000,000 fund, plus interest, is distributed to valid claimants after deductions under a court-approved Plan of Allocation that considers when shares were bought and sold and the loss suffered. Payments are pro rata based on each claimant's recognized loss.
Was proof required to file a Novavax claim?
Yes. Claimants had to submit a valid claim form with documentation of their Novavax stock transactions, such as brokerage statements or trade confirmations. The settlement is now closed to new claims.
Sources
• Official Settlement Website: StrategicClaims.net/novavax• Novavax, Inc. Securities Litigation — settlement notice and Proof of Claim and Release Form
• Claims Administrator: Strategic Claims Services
