The settlement of this federal securities fraud class action lawsuit is on behalf Ginkgo Bioworks Holdings, Inc. (“Ginkgo”) (NYSE: DNA) f/k/a Soaring Eagle Acquisition Corp. f/k/a Spinning Eagle Acquisition Corp. (“SRNG”) (NASDAQ: SRNG) investors who (1) purchased or otherwise acquired including by way of exchange of SRNG shares, securities pursuant and/or traceable to the proxy or registration statement (the “Registration Statement”) filed with the SEC on Form S-4 on May 14, 2021, and that was thereafter amended on Forms S-4/A on June 28, 2021, July 16, 2021, August 4, 2021, and August 9, 2021 and the body of which was incorporated into the final prospectus on Form 424(b)(3) filed on August 13, 2021; (2) acquired Gingko and/or SRNG securities between May 11, 2021 and October 5, 2021, inclusive (the “Class Period”); and/or (3) were solicited to approve the Ginkgo Bioworks, Inc.–SRNG merger (the “Merger”) and to retain rather than redeem SRNG shares pursuant to the Registration Statement.
Ginkgo agreed to pay $17,750,000 to resolve this class action lawsuit alleging the company and certain of its officers and/or directors violated federal securities laws by making false or misleading statements.
What’s the status of the Settlement?
On December 13, 2024, the Court granted Final Approval of the Class Action Settlement. This action has concluded.
Who can file a claim?
The settlement class includes all persons or entities who:
- Purchased or otherwise acquired Ginkgo securities, including by way of exchange of SRNG shares, pursuant and/or traceable to the Registration Statement;
- Acquired Gingko and/or SRNG securities between May 11, 2021 and October 5, 2021, inclusive; and/or
- Were solicited to approve the Merger and to retain rather than redeem SRNG shares pursuant to the Registration Statement.
How much is the Settlement Payment?
Pro rata payment: The total settlement fund is $17,750,000. The amount each class member receives will depend on several factors, including:
- The number of valid claims submitted
- The number of shares purchased and sold
- The dates of purchase and sale
- The price paid for the shares and the price received upon sale
How do I file a claim?
The deadline to file a claim was November 21, 2024. To submit a claim and/or to find additional information regarding the terms of the settlement and claim filing process, go to www.GinkgoSecuritiesSettlement.com, or contact the claims administrator, Strategic Claims Services, at 1-866-274-4004.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com.