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Carew v. Lifecore Biomedical, Inc. et al.

Did you invest in Lifecore Biomedical (LFCR)?

Securities
active

Law Firm: Pomerantz LLP

Est. Recovery

$3,750,000

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About this case

Lifecore and certain executives agreed to a $3.75 million settlement of a securities suit alleging false statements about internal controls, financials and Nasdaq compliance. Investors who bought or acquired Lifecore securities from Oct. 7, 2020 through Mar. 19, 2024 and suffered losses may file claims (includes common stock—formerly Landec, LNDC, now LFCR—purchased calls and written puts). One claim per legal entity; joint owners must sign; representatives need proof of authority. Payments will be made pro rata under a court‑approved plan based on recognized losses, which vary by sale date: sold before Oct. 10, 2022 = $0; sold Oct. 10, 2022–Mar. 19, 2024 = inflation at purchase minus inflation at sale; sold Mar. 20–Jun. 17, 2024 = lesser of inflation at purchase or purchase price minus the 90‑day lookback value; held on Jun. 17, 2024 = lesser of inflation at purchase or purchase price minus $5.96. Options claims limited to 1% of the net fund; negative recognized losses are set to $0; if total recognized losses exceed the net fund, payments are reduced proportionally; individual payouts under $10 will not be issued. Estimated average recovery is about $0.20 per allegedly damaged share before fees and about $0.12 after fees.

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Carew v. Lifecore Biomedical, Inc. et al. | ClassAct