InnovAge’s $27 Million IPO Investor Agreement Gets Court Nod (1)

InnovAge Holding Corp.‘s $27 million deal earned a federal court’s final blessing to resolve investor allegations it misrepresented its elder care quality surrounding its initial public offering.

Judge William J. Martinez approved the settlement, ending the class action against a slew of defendants who helped facilitate the 2021 IPO, Wednesday in the US District Court for the District of Colorado. Counsel for the public pension funds leading the case will get 20% of that sum, or $5.40 million, in attorneys’ fees plus over $339,000 in litigation expenses.

• The settlement approval comes after four years of litigation against the ...