If you purchased or acquired Oatly American Depositary Shares ("ADS") or call options on Oatly ADS or sold put options on Oatly ADS, between May 20, 2021 and Novemebr 15, 2021, inclusive (the "Class Period"), including by purchasing Oatly's ADS in Oatly's initial public offering ("IPO"), you could be entitled to a payment from a proposed Settlement.

For a full description of the Settlement, including a description of your rights under the Settlement and how to file a claim, click on the Case Documents page where you can download and review the Stipulation of Settlement ("Stipulation"), the Notice of Pendency and Proposed Settlement of Class Actions ("Notice"), the Proof of Claim and Release Form ("Proof of Claim"), and other critical documents.

In order to participate in the Settlement, you must submit a Proof of Claim. For the most effective submission method, we recommend you submit a Proof of Claim on this website. There is a link found on the File Claim page under the header “Submit Your Claim Form Online.”

Note that the online link will be disabled at any time after the submission deadline and you will only be able to submit via mail.

A brief background of the case is provided in the Notice on pages 2 and 3 and is also summarized on the home page of this website for your convenience. We do not have any more information regarding the background of this case available beyond what is provided in the Notice.

The Court directed that everyone who fits this description is a Settlement Class Member: (i) all Persons who purchased or acquired Oatly American Depositary Shares ("ADS") between May 20, 2021 and November 15, 2021, inclusive (the "Class Period"), or otherwise pursuant to Oatly’s Offering Documents, and were damaged thereby (the “ADS Class”); and (ii) all Persons who purchased or acquired call options on Oatly ADS or sold put options on Oatly ADS during the Class Period, or otherwise pursuant to Oatly’s Offering Documents, and were damaged thereby (the “Options Class,” and with the ADS Class, the "Settlement Class"). Excluded from the Settlement Class are Defendants; their respective successors and assigns; the past and current executive officers and directors of Oatly, Nativus Company Limited (and any of its subsidiaries or affiliates); and China Resources Verlinvest Health Investment Ltd. (and any of its subsidiaries or affiliates); the Underwriter Defendants; the Immediate Family Members of the Individual Defendants and of Oatly’s past and current executive officers and directors; the legal representatives, heirs, successors, or assigns of any excluded Person, and any entity in which any of the above excluded Persons have or had a controlling interest, and the legal representatives, heirs, successors-in-interest or assigns of any such excluded Persons, provided, however, that any Investment Vehicle shall not be excluded from the Settlement Class. Also excluded from the Settlement Class are any Persons who would otherwise be Settlement Class Members but who timely and validly exclude themselves therefrom.

Please Note: Receipt of the Notice does not mean that you are a Settlement Class Member or that you will be entitled to receive a payment from the Settlement.  If you are a Settlement Class Member and you wish (if eligible) to participate in the distribution of proceeds from the Settlement, you are required to complete and submit the Proof of Claim (together with the required supporting documentation) postmarked or submitted online on or before July 25, 2024.

Please read the Notice and the Settlement Class definition carefully and decide whether you wish to submit a Proof of Claim. If you are still not certain of eligibility and want for us to determine eligibility, you will need to submit a Proof of Claim along with supporting documentation for your transactions.

Email is not an acceptable submission method and claims submitted via email will not be reviewed for eligibility. As indicated in the general instructions for the Proof of Claim, you must submit your claim online via this website or by postal mail. To submit your Proof of Claim by mail, mail your completed and signed Proof of Claim to the following address:

Oatly Securities Settlement
c/o Gilardi & Co. LLC
P.O. Box 301170
Los Angeles, CA 90030-1170

To submit your Proof of Claim online, use the link under the header “Submit Your Claim Form Online" on the File Claim page.

The Settlement Amount, $9.25 million, plus accrued interest (less any taxes owed thereon) and minus the costs of the Notice of Pendency and Proposed Settlement of Class Actions ("Notice"), settlement administration costs, attorneys’ fees and litigation expenses, and any awards to Plaintiffs for representing the Settlement Class, as approved by the Court (the “Net Settlement Fund”), will be distributed to eligible Settlement Class Members pursuant to the Plan of Allocation that is described in the Notice.

To be potentially eligible for a payment from the proceeds of the Settlement, you must be a member of the Settlement Class and must timely complete and return the Proof of Claim with adequate supporting documentation postmarked (if mailed) or received (if submitted online) no later than July 25, 2024.

The Plan of Allocation, discussed on pages 9 - 12 of the Notice, explains how the Net Settlement Fund will be allocated among purchasers and/or acquirers of Oatly ADS and/or purchased or acquired call options on Oatly ADS or sold put options on Oatly ADS during the Class Period or otherwise pursuant to Oatly’s Offering Documents and how claimants’ “Recognized Loss” will be calculated. Your share of the Net Settlement Fund will depend on several things, including: (i) the quantity of ADS you bought or otherwise acquired; (ii) how much you paid for the ADS; (iii) when you bought or otherwise acquired such ADS; (iv) whether or when you sold such ADS (and, if so, for how much you sold them); and (v) the amount of Recognized Losses of other Authorized Claimants.

It is unlikely that you will get a payment for your entire Recognized Loss, given the number of potential Settlement Class Members. After all Settlement Class Members have sent in their Proofs of Claim, the payment any Authorized Claimant will get will be their pro rata share of the Net Settlement Fund based on the Plan of Allocation approved by the Court. In general, an Authorized Claimant’s share will be his, her or its Recognized Loss divided by the total of all Authorized Claimants’ Recognized Losses and then multiplied by the total amount in the Net Settlement Fund. 

The law firms of Scott + Scott Attorneys at Law LLP and Robbins Geller Rudman & Dowd LLP represent all Settlement Class Members. These lawyers are called Plaintiffs' Counsel. You will not be separately charged for the services of these lawyers.

The Court will hold a Settlement Hearing at 2:30 p.m. EST, on July 17, 2024, before the Honorable Alvin K. Hellerstein, at the United States District Court for the the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., New York, NY 10007. If you want to come to the hearing, you should check with Plaintiffs' Counsel before coming to be sure that the date and/or time has not changed.

No. Plaintiffs' Counsel will answer any questions the Court may have. But, you are welcome to come at your own expense. If you validly submit an objection, it will be considered by the Court. You can, but do not have to, come to Court to talk about it.

If you wish to be heard orally at the Settlement Hearing, you are required to indicate in your written objection your intention to appear at the hearing and identify any witnesses you may call to testify and exhibits, if any, you intend to introduce into evidence.  For more information regarding how to object, see Frequently Asked Question No. 16 below.  

We do not hold stock records here. Gilardi & Co., LLC is a third-party administrator appointed by the Court to notify potential claimants. We are provided with names and addresses of potential claimants in order to notify individuals of settlements but do not have access to your private investment records. We recommend you contact the institution where you held your Oatly ADS and request proof or supporting documentation for your claim.

We cannot advise you as to whether you should choose to submit a claim, exclusion or objection.

Unless you timely and validly exclude yourself, you are staying in the Settlement Class, and that means that you cannot sue, continue to sue, or be part of any other lawsuit against the Defendants or the other Released Defendants' Parties in this case. It also means that all of the Court’s orders will apply to you and legally bind you, and you will release your claims in this case against the Released Defendants' Parties. The terms of the release are included in the Notice, Proof of Claim, and Stipulation.

If you do not submit a Proof of Claim, you will not receive any money from this Settlement but will still be part of the Settlement Class and subject to applicable releases.

Objecting is simply telling the Court that you do not like something about the Settlement. You can object only if you stay in the Settlement Class.

Excluding yourself is telling the Court that you do not want to be paid and do not want to release any claims you think you may have against the Released Defendants' Parties. If you excluded yourself, you cannot object to the Settlement because it does not affect you.

To exclude yourself from the Settlement Class, you must send a signed letter by mail saying that you want to be excluded from the Settlement Class in In re Oatly Group AB Securities Litigation, No. 1:21-cv-06360-AKH (S.D.N.Y). Be sure to include your name, address, telephone number, and, for each type of Oatly security (ADS, call options, or put options) you transacted in, the date(s), price(s), and number of Oatly Securities that you purchased, acquired or sold between May 20, 2021 and November 15, 2021, inclusive. Your exclusion request must be postmarked no later than June 17, 2024 and sent to the Claims Administrator at:

Oatly Securities Settlement
c/o Gilardi & Co. LLC
EXCLUSIONS
P.O. Box 5100
Larkspur, CA 94977-5100

You cannot exclude yourself by phone or by email. If you make a proper request for exclusion, you will not receive a settlement payment, and you cannot object to the Settlement. If you make a proper request for exclusion, you will not be legally bound by anything that happens in the Actions.

You may object to the Settlement, the Plan of Allocation, and/or the Fee and Expense Application.  For any objection to be considered, you must send a copy of your objection to the Court and Plaintiffs' Counsel and Defendants’ Counsel at the addresses listed on page 5 of the Notice by June 16, 2024. 

Any objection must be in writing and state with specificity the reasons why you object to the proposed Settlement, Plan of Allocation and/or the Fee and Expense Application, including any legal or evidentiary support for such objection. Any objection must state whether it applies only to the objector, to a specific subset of the Settlement Class, or to the entire Settlement Class. Your objection must also be signed, accompanied by proof that you are a member of the Settlement Class, and identify any other class action settlements in which you (or your counsel), if any, have filed objections in the past five years.

Attendance at the Settlement Hearing is not necessary and the Court will consider any written objections submitted in accordance with the above procedures whether you attend or not. However, persons wishing to be heard orally at the Settlement Hearing are required to indicate in their written objection their intention to appear at the hearing and identify any witnesses they may wish to call to testify, and any exhibits they may wish to introduce into evidence.

You cannot speak at the hearing if you exclude yourself from the Settlement Class.

Separate Proofs of Claim should be submitted for each separate legal entity (e.g., a claim from joint owners should not include the transactions of just one of the joint owners, and an individual should not combine his or her IRA transactions with transactions made solely in the individual’s name).

However, a single Proof of Claim should be submitted on behalf of one legal entity that includes all transactions made by that entity, no matter how many separate accounts that entity has (e.g., a corporation with multiple brokerage accounts should include all transactions made in all accounts on one Proof of Claim).

When filing on behalf of a deceased beneficial owner or their estate, you can submit a claim in the name of the individual, or, if an estate exists, you can submit on behalf of the estate. Note that any settlement proceeds will be made payable to the estate if that is how you submit that claim.

The claim submission should include a copy of the death certificate as well as proof of authority to file. As you are submitting a Proof of Claim as a representative on behalf of someone else (e.g., as an executor, administrator, trustee or other representative), you must document your authority to file on their (or their estate’s) behalf. Proof of authority can include a copy of the Last Will and Testament, Letters Testamentary, evidence of probate, proof of authority as executor or beneficiary and/or any other testamentary provisions of the deceased person. Do not send originals as any documents submitted with your claim will not be returned.

Depending on whether you submit on behalf of the individual on behalf of the estate, please provide the appropriate tax identification number or last four digits of the social security number and sign the Proof of Claim.

The claim must be submitted for the benefit of the actual beneficial owner/purchaser of the shares or their estate. Do not submit the Proof of Claim in the name of the deceased person’s family or other heirs. We must issue the check to the actual beneficial owner/purchaser of the shares. We cannot issue any applicable check in the name of the deceased person’s family, beneficiaries or other heirs.

Sufficient documentation will provide proof of all the transaction information required by the Proof of Claim.

Suggested forms of documentation include, but are not limited to, photocopies of stockbrokers' confirmation slips or stockbrokers' monthly statements reflecting your transactions, opening and closing balances for the months specified on the Proof of Claim, and in which transactions during the relevant period occurred.

Stock certificates are not considered a sufficient form of documentation as they do not provide the necessary trade date and transaction price information. We are also unable to accept handwritten documents, self-prepared tax forms or spreadsheets, or statements that are illegible due to document quality.

Please send your late submission when you are able, as we will continue to process late claims. Up until the point when we are prepared to distribute the settlement fund, late claims which are otherwise valid will be accepted. Distributions in settlements such as this typically take place nine to twelve months after the filing deadline has passed, but this is an average estimate and claims processing could take longer depending on various factors, including whether a large number of late claims are being submitted due to delays outside of the control of claimants.

The Settlement Hearing will be held on July 17, 2024 at 2:30 p.m. EST to decide whether to approve the Settlement. If the Court approves the Settlement, there might be appeals.  It is always uncertain whether appeals can be resolved, and, if so, how long it would take to resolve them.   

It also takes time for all of the Proofs of Claim to be processed.  Processing time on our cases can take an average of nine to twelve months or more from the July 25, 2024 filing deadline. Once processing is complete, we must then wait for authorization from Counsel and/or the Court before we can distribute the funds which can take several additional months.

Please understand that this is an estimated timeframe for processing based on our experience which does not guarantee that all case processing will be completed within twelve months. Processing time varies from case to case and some cases may take more or less time based on the specifics of that case settlement.

If your claim has been received and we have any questions or need additional information or documentation to assist in the processing of your claim, we will contact you by using one or more of the contact methods (phone, e-mail, mail) which you listed on your Proof of Claim.

We will not have the final claim payout amount available until we have processed all of the claims, calculated the total loss of claims filed, and received approval from the Court and/or Plaintiffs' Counsel.

We appreciate your patience as accurate claims processing takes time.

If you do nothing, you will not receive any money from this Settlement.  In addition, unless you excluded yourself, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against Released Defendants' Parties about the Released Claims in this case.