InnovAge Agrees to $27 Million Investor Settlement Over IPO (1)

InnovAge Holding Corp. agreed to pay $27 million to resolve investor allegations that the elder care company misrepresented its growth potential before its 2021 initial public offering.

The lead plaintiffs sought the US District Court for the District of Colorado’s preliminary approval of the settlement on Monday in their class action against the company, its IPO underwriters, a private equity firm, and InnovAge board members, including former Republican Florida Gov. Jeb Bush. If approved, the settlement would resolve the suit in its entirety, their motion said.

• Lead plaintiffs El Paso Fireman & Policemen’s Pension Fund, San Antonio Fire & ...