Published
October 3, 2026
Investors who bought Gritstone bio common stock (Nasdaq: GRTS) between March 9, 2023 and April 2, 2024 may qualify to claim a pro rata cash payment from the $6 million Gritstone bio securities class action settlement. Claims close November 13, 2026, and the final approval hearing is set for December 4, 2026.
Current Status
Claims are open. Online claims are due by 11:59 p.m. Eastern Time on November 13, 2026, and mailed claims must be postmarked by that date. The court preliminarily approved the settlement on August 5, 2026, and the final approval hearing is scheduled for December 4, 2026. No payment date has been announced; payments depend on final approval and the completion of claims processing.Free settlement alerts
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Status
Claims Open
Claim Deadline
November 13, 2026
11:59 p.m. ET online · postmark for mail
Estimated Payout
Pro rata
Est. average $0.11 per damaged share · before fees and costs
Proof Required
Yes
Brokerage confirmations or statements for every transaction and holding
What Changed Recently?
Former Gritstone bio chief executive Andrew R. Allen agreed to a $6 million cash settlement, paid by his insurers, to resolve In re Gritstone bio, Inc. Securities Litigation in the U.S. District Court for the Northern District of California. The Stipulation of Settlement is dated May 15, 2026, and Judge Charles R. Breyer entered the order preliminarily approving the settlement and providing for notice on August 5, 2026. Strategic Claims Services is sending postcard notices and accepting claims.The lead plaintiff alleges that Allen made materially false and misleading statements about Gritstone’s compliance with current Good Manufacturing Practices, its ability to meet its contract with the Biomedical Advanced Research and Development Authority (BARDA), and the timeline for launching the CORAL Phase 2b clinical trial, and that the stock price fell when the alleged truth emerged on March 1, 2024 and April 2, 2024. Allen denies all allegations of fault, liability, wrongdoing or damage, and says he acted properly at all times. The court has not ruled on the merits.
Gritstone bio, a vaccine and immunotherapy developer, filed for Chapter 11 bankruptcy protection in Delaware on October 10, 2024. Nasdaq suspended trading in its stock on October 22, 2024, after which it traded over the counter as GRTSQ until it was delisted on April 7, 2025.
Who Qualifies?
The settlement class is everyone who purchased publicly traded Gritstone bio securities between March 9, 2023 and April 2, 2024, both dates inclusive, and was allegedly damaged by doing so. In practice, the plan of allocation pays only on Gritstone common stock bought from March 9, 2023 through April 1, 2024 and held through at least one of the two alleged corrective disclosures.Excluded are people and entities with no compensable loss; Allen and his immediate family; anyone who served as a control person, officer or director of Gritstone during the class period and their immediate families; Gritstone’s parents, subsidiaries, affiliates, successors and predecessors; entities Allen controls; trusts for his or his family’s benefit; his liability insurers; their legal representatives, heirs, successors and assigns; and anyone who submits a valid request for exclusion.
Shares from Gritstone’s April 2, 2024 offering of about 8.3 million shares are not eligible, and neither are shares acquired by exercising or converting non-publicly traded securities. Publicly traded options and warrants themselves do not qualify, though common stock acquired by exercising them during the class period is treated as a purchase.
How Much Can You Get?
Each authorized claimant receives a pro rata share of the net settlement fund — the $6 million plus interest, minus court-approved attorneys’ fees, expenses, notice and administration costs, and taxes. The lead plaintiff’s damages expert estimates about 54.9 million allegedly damaged shares; if all of them participate, the average recovery would be about $0.11 per share before deductions. That figure is an estimate, and actual payments depend on purchase and sale dates and prices and on the number and value of valid claims.The plan of allocation assigns alleged artificial inflation of $1.94 per share from March 9, 2023 through February 29, 2024, $1.02 per share from March 1 through April 1, 2024, and $0 from April 2, 2024 on, with each day’s inflation capped at that day’s closing price. Shares sold before March 1, 2024 have a recognized loss of $0. Shares sold between March 1 and April 1, 2024 receive the difference in inflation between purchase and sale. Shares sold during the 90-day look-back period from April 2 to June 28, 2024, or still held at its end, receive the lesser of the purchase-date inflation and the purchase price minus the look-back value; for shares still held, that value is $0.82. Sales are matched first-in, first-out against holdings on March 8, 2023 and then against class-period purchases. No distribution is made on a claim worth less than $10.00.
Lead Counsel, Pomerantz LLP, will ask the court for attorneys’ fees of up to one-third of the settlement amount plus interest and up to $500,000 in expenses, which may include the lead plaintiff’s costs. The notice estimates those requests would average about $0.05 per share.
What Proof or Notice ID Is Required?
Documentation is required. The Proof of Claim and Release requires genuine and sufficient documentation for every transaction and holding listed in its schedule of Gritstone common stock transactions, including transactions during the 90-day look-back period. Acceptable documents are copies of brokerage confirmation slips, monthly brokerage account statements, or an authorized statement from the broker containing the same transaction and holding information. The form warns that failure to supply documentation may result in rejection of the claim and asks claimants not to send originals.The claim form does not require an administrator-issued notice ID; investors who did not receive a postcard notice can file with their own brokerage records.
What Is the Deadline?
Online claims must be submitted by 11:59 p.m. Eastern Time on November 13, 2026. Paper claims, with all requested documentation, must be postmarked no later than November 13, 2026. Requests for exclusion must be received by November 13, 2026, and objections are due the same day.How Do You Take Action?
The official Gritstone Securities Litigation page at Strategic Claims Services hosts the online claim form, the long notice with the printable Proof of Claim and Release, the preliminary approval order and the stipulation. The beneficial owner, not the broker or record holder, signs the claim. Representative filers submitting for multiple beneficial owners use the electronic filing template posted on the same page and must also submit a signed paper claim form.What Happens Next?
Judge Breyer will hold the settlement hearing on December 4, 2026, at 10:00 a.m. Pacific Time in Courtroom 6, 17th Floor, of the Phillip Burton Federal Building and U.S. Courthouse in San Francisco to decide whether to approve the settlement, the plan of allocation and the fee request. The court may change the date or time, or hold the hearing remotely, without sending new notices. If the settlement is approved, payments follow the resolution of any appeals and the completion of claims processing.Sources and Verification
- Gritstone Securities Litigation — Strategic Claims Services case page
- Notice of Pendency of Class Action and Proposed Settlement, and Proof of Claim and Release Form
- Order Preliminarily Approving Settlement and Providing for Notice (August 5, 2026), In re Gritstone bio, Inc. Securities Litigation, No. 3:24-cv-03640-CRB (N.D. Cal.)
- Case docket on CourtListener
Questions
Why is Gritstone itself not paying?
The settlement resolves the claims against former Gritstone CEO Andrew R. Allen, the only settling defendant, and his insurers fund the $6 million payment. Gritstone bio filed for Chapter 11 bankruptcy protection in Delaware on October 10, 2024.
Do shares bought in the April 2024 offering count?
No. The plan of allocation assigns a recognized loss of $0 to shares bought on or after April 2, 2024, and states that the roughly 8.3 million shares Gritstone issued in its April 2, 2024 offering are not eligible.
Are Gritstone options or warrants covered?
Not directly. Publicly traded options and warrants are not eligible securities. Common stock acquired by exercising a publicly traded option or warrant during the class period is treated as a purchase on the exercise date at the exercise price.
Does it matter that Gritstone stock was delisted?
Not for eligibility. The class covers purchases from March 9, 2023 through April 2, 2024, when the stock traded on Nasdaq as GRTS. Shares still held when trading was suspended in October 2024 are valued under the plan’s 90-day look-back, which uses an average closing price of $0.82 from April 2 through June 28, 2024.
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Settlement Amount
$6,000,000
Case Title
In re Gritstone bio, Inc. Securities Litigation
Case Number
3:24-cv-03640-CRB
Court
U.S. District Court, Northern District of California
Final Approval Hearing
December 4, 2026 at 10:00 AM PT
Judge Charles R. Breyer, Courtroom 6, San Francisco
Administrator
Strategic Claims Services
Official Website
Strategic Claims — Gritstone
