Investors who purchased or otherwise acquired Rockley Photonics Holdings Limited common stock (NYSE: RKLY) between August 11, 2021 and January 23, 2023 may qualify to claim a share of a $10 million securities class action settlement, which the notice estimates at an average of $0.11 per damaged share before court-approved fees. Claims close October 15, 2026, and brokerage records documenting every purchase, sale and holding are required.
Current Status
Claims are open. A Proof of Claim and Release must be submitted online, or postmarked if mailed, no later than October 15, 2026. The notice does not specify a timezone for the online cutoff, so none is given here.The court has not yet approved the settlement. The Settlement Hearing is scheduled for October 20, 2026 at 1:30 p.m. before the Honorable Mónica Ramírez Almadani in the U.S. District Court for the Central District of California, and the notice warns the hearing may be adjourned without further written notice to the class other than a posting on the settlement website. No payments have been made and no payment date has been announced — the notice says distributions follow only after claims are processed, the court grants final approval, and any appeals are resolved.
Two deadlines land earlier than the claim deadline and are easy to miss. Requests for exclusion, objections and notices of intention to appear are all due September 29, 2026 — more than two weeks before claims close.
What Is This Settlement About?
Rockley Photonics Holdings Limited was a silicon photonics company that went public on the New York Stock Exchange in August 2021 through a merger with SC Health Corporation, a special purpose acquisition company. Its pitch was a chip-scale sensor platform for non-invasive health monitoring — the kind of technology that would sit inside a wearable device.Lead plaintiffs allege that the defendants made materially false and misleading statements about Rockley's revenue projections, the commercialization and development status of its products, its relationships with key customers including Apple and Samsung, its joint venture with Jiangsu Hengtong Optic-Electric Co., Ltd., its non-recurring engineering revenues, and its ability to fund ongoing operations. The defendants vigorously deny every claim of wrongdoing, deny that they are liable, and deny that the lead plaintiffs or the class suffered any injury. No court has found any defendant liable, and the parties settled to avoid the cost and risk of continued litigation.
The class period closes on January 23, 2023 — the day Rockley filed a voluntary Chapter 11 petition. The NYSE suspended trading in the stock the following day and delisted it in February 2023, and March 14, 2023 was the last date Rockley common stock traded, which is why that date recurs throughout the claim form.
The case is Grossman v. Sin, et al., No. 2:23-cv-09501-MRA-MAA, in the U.S. District Court for the Central District of California. The settling defendants are Andrew Rickman, Mahesh Karanth and Richard Meier. On March 31, 2025 the court denied the defendants' motion to dismiss as to the claims concerning statements about Rockley's product development and commercialization, dismissed all claims against another individual defendant, and claims against David Sin and SIN Capital Group Pte. Ltd. were voluntarily dismissed in April 2025 after unsuccessful service attempts under the Hague Convention. Following document discovery and a full-day mediation in November 2025, the parties accepted a mediator's recommendation to settle for $10 million.
Free settlement alerts
Get notified when new class actions open to claims
Join thousands of readers who get the latest class action settlements you may qualify for — delivered straight to your inbox.
Who Qualifies?
The class is all persons or entities that, between August 11, 2021 and January 23, 2023 inclusive, purchased or otherwise acquired Rockley common stock and were harmed thereby.The exclusions are broader than on a typical consumer settlement and worth reading closely. Excluded are the defendants; the former officers and directors of Rockley, Rockley Photonics Limited, SINCap, SC Health Corporation, SC Health Holdings Limited and SC Health Group Limited; any person or entity that automatically acquired Rockley common stock in exchange for securities of Rockley Photonics Limited in connection with the merger, limited to those exchanged shares; the immediate family members of any of the foregoing; their legal representatives, heirs, successors and assigns; any entity in which any of the foregoing have or had a controlling interest; and anyone who validly requests exclusion.
That third exclusion is the one most likely to catch a reader out. If your Rockley shares arrived through the automatic conversion in the merger rather than through a purchase, those shares do not support a claim. The Plan of Allocation makes the same point from the other direction: receiving stock in that conversion is not treated as a purchase or acquisition. If you also bought on the open market during the class period, those separate purchases still count.
Receiving a notice does not by itself make you a class member or entitle you to any money, and the notice says so directly.
How Much Can You Get?
The settlement is $10,000,000 in cash plus interest. From that fund come taxes and tax expenses, notice and administration costs, attorneys' fees, litigation expenses and any awards to the lead plaintiffs; what remains is the Net Settlement Fund distributed to claimants.The notice estimates an average recovery of $0.11 per damaged share before deduction of court-approved fees and expenses, assuming every estimated potential class member participates, and estimates the average cost per damaged share at $0.037 if the fee application is granted. Both figures are averages across the whole class, not a per-claimant entitlement — an individual recovery depends on when shares were bought and at what price, whether and when they were sold, and how many valid claims come in.
The Plan of Allocation assigns each purchase a Recognized Loss Amount using inflation-per-share figures tied to three alleged corrective disclosures — May 12, 2022, November 10, 2022 and January 25, 2023. The mechanics that matter most to a claimant:
• Shares sold before May 12, 2022 recover nothing. Their Recognized Loss Amount is $0.00, because the sale preceded the first alleged corrective disclosure.
• The maximum inflation figure is $0.70 per share, for shares bought between August 11, 2021 and May 11, 2022 and sold on or held beyond January 24, 2023. Other purchase-and-sale combinations carry lower figures, down to $0.11.
• A statutory 90-day look-back applies. Under the PSLRA, recoveries are limited by the mean closing price after the corrective information reached the market — here $0.03 per share, since trading ended March 14, 2023.
• Net loss is a gate. A claimant is eligible only if their Class Period transactions produced a net overall loss once gains are subtracted from losses, and a claim is capped at the claimant's actual market loss.
• FIFO matching. Multiple purchases and sales are matched first-in, first-out.
• Short sales recover nothing, and an opening short position must be fully covered before any recovery.
• No distribution below $10.00. Claimants whose calculated share falls under that threshold receive nothing.
Payments are pro rata: each claimant's Recognized Claim divided by the total of all Recognized Claims, multiplied by the Net Settlement Fund. Our explainer covers how pro rata settlement payments work in more detail. Lead counsel will ask the court for fees of no more than 30% of the settlement amount, litigation expenses not exceeding $450,000, and awards of up to $8,500 for each lead plaintiff; the court decides those amounts and may award less. Any balance still left after redistributions become uneconomical goes to the Council of Institutional Investors.
What Proof Is Required?
Documentation is required, and this is the strictest proof tier on the site.The claim asks you to list, in chronological order by trade date, every purchase or acquisition and every sale of Rockley common stock between August 11, 2021 and March 14, 2023 — whether the transaction produced a profit or a loss — plus the number of shares held at the close of trading on August 10, 2021, January 23, 2023 and March 14, 2023. The notice states that failure to report all such transactions may result in rejection of the claim.
Each of those entries must be backed by copies of stockbroker confirmation slips, stockbroker statements or equivalent documents. If you no longer hold them, the notice directs you to obtain copies from your broker, since the documents are necessary to prove and process the claim. The claim must also be signed under penalty of perjury, and joint purchasers must all sign; anyone filing in a representative capacity must submit evidence of their authority.
Filing online requires a valid email address and the last four digits of a Social Security number or a full taxpayer identification number, and supporting documents upload as PDFs of no more than 1 MB each. If you cannot upload electronically, the portal generates a transmittal letter to send with paper documentation. One claim goes in per separate legal entity — an individual should not combine IRA transactions with transactions held in their own name.
What Is the Deadline?
• October 15, 2026 — Proof of Claim and Release deadline, submitted online or postmarked if mailed.• September 29, 2026 — deadline to request exclusion, postmarked or received. An exclusion request must be signed and must state the number of shares purchased, acquired and sold between August 11, 2021 and January 23, 2023, with dates and prices for each. Excluding yourself is the only way to preserve your own right to sue, and the notice cautions that a claim you later bring may be time-barred by a statute of repose. Our guide covers what opting out of a class action means.
• September 29, 2026 — deadline for objections to be received by the court and served on counsel, and for any notice of intention to appear at the hearing. An objection must document class membership with brokerage records, state the grounds with specificity, and identify any objections the objector or their attorney has filed in other class settlements.
• October 20, 2026 at 1:30 p.m. — Settlement Hearing.
Doing nothing means remaining a class member, receiving no payment, and still being bound by the release.
How Do You File a Claim?
File through the official settlement website, Rockley Securities Settlement.com, which hosts the online claim portal, the full notice, the Stipulation of Settlement and the court documents. Paper filing by mail remains available using the Proof of Claim and Release form from that site.Gather brokerage statements covering August 2021 through March 2023 before you begin. The online form does not save partial progress — exiting before submitting loses everything entered — and once you select Submit Claim you cannot go back to review or amend. A confirmation page carrying your claim number is generated on submission and is your only proof of filing, so print or save it before leaving the screen.
Claimants with a large number of transactions may request, or be asked, to submit their data as an electronic file; the settlement website explains how to obtain the required file layout. Anyone doing that must still submit a manually signed paper claim form listing all transactions, and no electronic file counts as submitted until the administrator acknowledges receipt and acceptance in writing.
What Happens Next?
Lead counsel's motion papers supporting final approval, the Plan of Allocation and the fee request were due to be filed on or before September 15, 2026. The Settlement Hearing follows on October 20, 2026, where the court will consider whether the settlement is fair, reasonable and adequate, hear from any class member who filed a timely objection and notice of appearance, and rule on fees, expenses and the lead plaintiff awards. Attendance is not required, and a class member can object without appearing.A hearing being scheduled is not approval, and approval is not the end. The notice says distributions are made after all claims are processed, after final approval, and after any appeals are resolved. It also notes the court may approve the plan of allocation as proposed or modify it without further notice to the class. No payment date had been announced as of August 31, 2026.
Sources and Verification
• Official settlement website — Rockley Securities Settlement.com (deadlines, court documents, claim portal)• Notice of Pendency and Proposed Settlement of Class Action (PDF), dated June 26, 2026 — class definition, Plan of Allocation, deadlines and hearing
• Proof of Claim and Release form — transaction schedules, documentation requirements and the release
• Grossman v. Sin, et al., No. 2:23-cv-09501-MRA-MAA, U.S. District Court for the Central District of California
• New York Stock Exchange — NYSE to Suspend Trading Immediately in Rockley Photonics Holdings Limited (RKLY) (January 2023)
Questions
Why does the claim form ask about trades through March 14, 2023 when the class period ends January 23, 2023?
The two date ranges do different jobs. The Class Period — August 11, 2021 through January 23, 2023 — defines which purchases can produce a recovery. The wider reporting window through March 14, 2023 exists so the Claims Administrator can confirm you reported every relevant transaction and can run the statutory 90-day look-back calculation. The notice states plainly that purchases made from January 24, 2023 onward are not eligible for a recovery because they fall outside the Class Period. You still have to report them, along with your holdings at the close of trading on August 10, 2021, January 23, 2023 and March 14, 2023, or your claim may be rejected.
I bought Rockley stock and lost money. Does that guarantee a payment?
No. Two separate filters can reduce a Recognized Loss Amount to zero. Shares bought during the Class Period but sold before May 12, 2022 — the first alleged corrective disclosure — have a Recognized Loss Amount of $0.00 under the Plan of Allocation, because the loss did not follow a corrective disclosure. Separately, a claimant is eligible only if they had a net overall loss across all their Class Period transactions once gains are subtracted from losses. The notice also states that no distribution will be made to any claimant whose calculated share would be less than $10.00.
How is the $0.11 per share estimate calculated, and will I actually receive that?
It is an average, not an entitlement. The notice states that assuming all estimated potential Class Members participate, the estimated average recovery is $0.11 per damaged share before deduction of court-approved fees and expenses, and it estimates the average cost per damaged share at $0.037 if the fee and expense application is approved. What an individual receives depends on when the shares were bought and at what price, whether and when they were sold, the total of all valid claims filed, and the inflation-per-share figures in the Plan of Allocation table. Class members may recover more or less than the average.
What documentation do I need to file?
Brokerage records. The notice and claim form both require copies of stockbroker confirmation slips, stockbroker monthly statements, or equivalent documents evidencing every transaction and holding listed on the claim. If you no longer have them, the notice directs you to obtain copies from your broker, because failure to provide the documentation could delay verification or result in rejection. Filing online requires a valid email address and the last four digits of a Social Security number or a full taxpayer identification number, and uploads must be PDFs no larger than 1 MB each.
Do I get anything if I received Rockley shares through the SPAC merger?
Not for those particular shares. The Class excludes persons and entities that automatically acquired Rockley common stock in exchange for securities of Rockley Photonics Limited in connection with the Merger, and the Plan of Allocation states that receiving stock in that automatic conversion is not treated as a purchase or acquisition. The exclusion is limited to the exchanged shares, so if you also bought Rockley common stock on the open market during the Class Period, those separate purchases can still support a claim.
When would any payment actually arrive?
No payment date has been announced. The notice says distributions are made after all claims have been processed, after the Court has finally approved the Settlement, and after any appeals are resolved. The Settlement Hearing is scheduled for October 20, 2026, and the court had not ruled as of August 31, 2026. Securities settlements of this kind commonly take a year or more from hearing to distribution because every claim has to be matched against brokerage records.
