Court Preliminarily Approves Settlement in In re AppHarvest, Inc. Securities Litigation

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Published March 13, 2024

Update In re AppHarvest, Inc. Securities Litigation, Case No. 1:21-cv-07985-LJL:

A settlement has been reached and was preliminarily approved on March 6, 2024. The settlement provides for the payment of $4.85 million to eligible class members.  Lead plaintiff Alan Narzissenfeld alleged violations of §§ 10(b) and 20(a) of the Securities Exchange Act of 1934 based on the defendants’ alleged false and misleading statements concerning labor and productivity issues AppHarvest experienced at the Morehead farm, which unbeknownst to investors, negatively affected the Company’s operating results and prospects.

 The hearing on the Motion for Final Approval is scheduled for June 12, 2024.

Proof of Claim Deadline: May 22, 2024
Class Period: February 1, 2021 through August 10, 2021 inclusive
Recovered: $4.85 Million