Securities class settlement receives final approval
The Southern District of California granted final approval of the Progenity, Inc. securities class settlement and plan of allocation, certified the settlement class for final settlement purposes, and made the settlement binding on Progenity/Biora, the remaining defendants, lead plaintiffs, and settlement class members. The order also dismisses the released claims with prejudice while retaining jurisdiction over settlement administration, according to the Strategicclaims final approval order.
This matters in the Chapter 11 watch because it removes a legacy IPO-related litigation overhang against Progenity, now Biora Therapeutics, while the bankruptcy docket showed no separate case filing around the same March 4 window. Claims professionals should treat the securities settlement administration and any related class recoveries as an external process running alongside, rather than through, the bankruptcy docket.