Facts

On August 31, 2020, Scott Kuhne, on behalf of himself and the settlement class, brought an amended class action against Gossamer Bio, Inc., Sheila Gujrathi, MD, Bryan Giraudo, Faheem Hasnain, Joshua H. Bilenker, MD, Kristina Burow, Russell Cox, Thomas Daniel, MD, Renee Gala, Otello Stampacchia, PHD, Merrill Lynch, Pierce, Fenner & Smith Incorporated, SVB Leerink LLC, Barclays Capital Inc, and Evercore Group LLC in the District Court for the Southern District of California, alleging securities violations. The class included all investors in Grossamer Bio, Inc. stock between February 8, 2019, and December 13, 2019, or who acquired Gossamer shares pursuant or traceable to Gossamer's Registration Statement and Prospectus in connection with the IPO. Excluded from the class are defendants and their families, the officers, directors, and affiliates, and their legal representatives, heirs, successors, or assigns and any entity in which defendants have or had a controlling interest.

PLAINTIFF'S CONTENTIONS: Plaintiff alleged that defendants violated the federal securities laws by making materially false and misleading statements in materials accompanying Gossamer's IPO and failed to disclose material adverse facts about Gossamer's business, operations, and compliance policies.

DEFENDANTS' CONTENTIONS: Defendants denied all contentions.

Result

Defendants agreed to pay $2,375,000 to settle all claims.