Blue Apron Reaches $13 Million Settlement in Investors’ Suit (1)

Blue Apron Holdings Inc. and its insurance company are on the hook for $13.25 million to resolve allegations that the meal-kit company misled investors through statements it made or omitted in connection with its June 2017 initial public offering, according to a motion for settlement approval filed in the Eastern District of New York.

The parties reached the settlement in principle following a mediation session on Aug. 11, 2020. The negotiations came after Judge William F. Kuntz II denied Blue Apron’s motion to dismiss the consolidated shareholder action in April of this year.

“The settlement resolves the case for $13.25 ...