Published
October 3, 2026
Investors who bought Kiromic BioPharma common stock in its June 2021 public offering or between June 25, 2021 and February 2, 2022 may qualify to claim a pro rata share of a $1.225 million Kiromic BioPharma securities class action settlement. Claims close December 14, 2026, and the fairness hearing is set for December 17, 2026.
Current Status
Claims are open. A Proof of Claim must be submitted online or postmarked by December 14, 2026. Judge Jennifer H. Rearden of the U.S. District Court for the Southern District of New York granted preliminary approval on August 25, 2026, and the fairness hearing is scheduled for December 17, 2026, at 11:45 a.m. The settlement has not received final approval, and no payment date had been announced as of October 3, 2026.Free settlement alerts
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Status
Claims Open
Claim Deadline
December 14, 2026
Online or postmarked · exclusions due November 26 · objections due November 12
Estimated Payout
About $0.08 a Share
Average per damaged share before fees · about $0.05 after · pro rata · $10 minimum
Proof Required
Yes — Brokerage Records
Broker confirmations or statements for every Kiromic purchase and sale
What Changed Recently?
The court preliminarily approved a $1,225,000 settlement in In re Kiromic BioPharma, Inc. Securities Litigation on August 25, 2026, appointed Strategic Claims Services as claims administrator, and set the December 14, 2026 claim deadline. The money is being paid by the insurer for three settling former Kiromic officers and directors under a stipulation signed March 5, 2026.The lawsuit was filed in August 2022. Lead plaintiffs allege that Kiromic, a clinical-stage biotechnology company, and several of its officers and directors violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by failing to disclose in its June 2021 offering documents that the FDA had imposed a clinical hold, and by publishing statements indicating that no hold had been imposed. The Kiromic defendants maintain that they have meritorious defenses, and the court has not ruled for either side.
An earlier settlement was reached in 2023 but never approved. Kiromic filed for Chapter 7 bankruptcy in March 2025, which stayed the case, and the current settlement was negotiated afterward with the individual defendants, the bankruptcy trustee and the insurer. Claims against the Kiromic defendants are released, but claims against ThinkEquity LLC, the underwriter of the June 2021 offering, are not part of the settlement and continue.
Who Qualifies?
The settlement class covers all persons and entities that purchased or otherwise acquired Kiromic BioPharma common stock either pursuant or traceable to the June 2021 offering documents, or between June 25, 2021 and February 2, 2022, inclusive.Excluded are the defendants, Kiromic’s officers and directors, their immediate families and affiliated entities, people who bought Kiromic stock on a foreign exchange, the plaintiffs in a separate warrant-holder lawsuit (Sabby Volatility Warrant Master Fund Ltd. v. Kiromic BioPharma, Inc.), and anyone who opts out.
How Much Can You Get?
Each eligible claimant receives a pro rata share of the net settlement fund based on a calculated “Recognized Loss.” The notice estimates an average recovery of about $0.08 per damaged share before fees and expenses, or about $0.05 after them, across roughly 16.2 million damaged shares. Those are averages, not a prediction for any one investor; the actual amount depends on when shares were bought and sold, the prices paid, and how many valid claims are filed.The plan of allocation uses two formulas. Shares bought in the offering at $5.00 on or about June 30, 2021 are credited with the difference between $5.00 and the sale price if sold by August 5, 2022, or a flat $4.63 a share if still held at that date. Shares bought on the open market during the class period are capped by an inflation table of $0.99 a share for purchases from June 25 to July 15, 2021, $0.36 from July 16 to October 5, 2021, and $0.15 from October 6, 2021 to February 2, 2022, with a 90-day look-back price of $0.77 for shares held past the class period.
Lead counsel will ask for fees of up to one-third of the $1,225,000, plus litigation expenses and up to $10,000 in total awards to the lead plaintiffs, all paid from the fund if the court approves. No payment is made on a claim worth less than $10.
What Proof or Notice ID Is Required?
No notice ID is needed, but the claim depends on brokerage records. The Proof of Claim asks for every purchase, acquisition and sale of Kiromic common stock and requires copies of broker confirmation slips, broker statements or equivalent documents for each transaction. The form states that a claim without official documents evidencing the purchases and sales will be rejected. Claimants filing for someone else, such as an estate or trust, also submit proof of their authority.Institutions and others filing for multiple accounts must use the administrator’s electronic spreadsheet format and receive a written acknowledgment before the submission counts.
What Is the Deadline?
Proofs of Claim must be submitted online or postmarked by December 14, 2026. The official sources give a date only, with no time of day or time zone.Requests to be excluded from the class must be postmarked by November 26, 2026. Written objections must be filed with the court and received by November 12, 2026, and requests to speak at the hearing are due November 26, 2026.
How Do You Take Action?
The online Proof of Claim and the notice, claim form and court order are posted on the official Kiromic BioPharma settlement page at Strategic Claims Services. Filing involves listing each Kiromic transaction, uploading the supporting brokerage records and signing the release. Investors whose brokerage account has closed can request historical statements from the broker.Other open stock-drop and offering settlements are collected on OCA’s securities class actions hub.
What Happens Next?
The court will hold the fairness hearing on December 17, 2026, at 11:45 a.m. in Courtroom 12B of the Daniel Patrick Moynihan U.S. Courthouse in Manhattan to decide whether to grant final approval, approve the plan of allocation and rule on the fee request. Distributions follow only after final approval and the processing of claims. No payment date had been announced as of October 3, 2026. The case against ThinkEquity continues separately.Sources and Verification
- Kiromic BioPharma, Inc. Securities Litigation — official Strategic Claims Services case page
- Notice of Pendency and Proposed Settlement, with Proof of Claim and Release Form
- Order granting preliminary approval (ECF No. 89, August 25, 2026), In re Kiromic BioPharma, Inc. Securities Litigation, No. 1:22-cv-06690 (JHR), S.D.N.Y.
Questions
Who is paying the settlement if Kiromic is in bankruptcy?
The insurer for the settling former officers and directors is paying the $1,225,000. Kiromic filed for Chapter 7 bankruptcy in March 2025, and the notice says the payment exhausts the insurance coverage available to the Kiromic defendants, apart from the individual defendants’ defense costs.
Does the settlement end the case against the underwriter?
No. Claims against ThinkEquity LLC, the underwriter of the June 2021 offering, are not released, and lead counsel intends to keep pursuing them in the same case. The court overruled ThinkEquity’s objection to that part of the settlement in its August 25, 2026 order.
Which offering shares count as traceable to the June 2021 offering?
Under the plan of allocation, only shares bought at the $5.00 offering price on or about June 30, 2021 are treated as traceable to the offering documents. Shares bought later at other prices are calculated under the class-period formula instead.
Is there a minimum payment?
No check is issued when a claimant’s calculated share is less than $10. Money left after the first distribution may go to a second distribution if that is economically feasible, and any final remainder goes to a court-approved public interest cause.
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Settlement Amount
$1,225,000
Case Title
In re Kiromic BioPharma, Inc. Securities Litigation
Case Number
1:22-cv-06690 (JHR)
Court
U.S. District Court, Southern District of New York
Final Approval Hearing
December 17, 2026 at 11:45 AM
Courtroom 12B, Daniel Patrick Moynihan U.S. Courthouse, New York
Administrator
Strategic Claims Services
Official Website
Strategic Claims — Kiromic BioPharma
