Kahn Swick & Foti, Wolf Popper Announce Settlement Hearing for Eargo Merger Litigation
News related to:Eargo, Inc · 2 min read
NEW ORLEANS, Oct 28, 2026 /CourierPR/ -- Kahn Swick & Foti, LLC and Wolf Popper LLP have announced a proposed settlement in a class action lawsuit against Eargo, Inc. The lawsuit, which was filed in the Court of Chancery of the State of Delaware, involves former owners of Eargo, Inc. common stock who were cashed out in the February 16, 2024 merger.
According to the press release, the settlement aims to address claims from former Eargo shareholders who had their shares exchanged for $2.55 in cash as part of the merger. The settlement hearing is scheduled for January 8, 2027, at 1:30 p.m. at the Leonard L. Williams Justice Center, located at 500 North King Street, Wilmington, Delaware 19801. Alternatively, the hearing can be held remotely by videoconference.
The settlement hearing will consider several key issues, including whether the lawsuit may be maintained as a non-opt out class action and whether the class should be certified. The court will also determine if the proposed settlement is fair, reasonable, and adequate for the class. Additionally, the hearing will address the appointment of plaintiffs as class representatives and the approval of attorneys' fees and expenses for the plaintiffs' counsel.
The proposed settlement fund is subject to approval by the court, and the plan of allocation for the net settlement fund will be reviewed. The plaintiffs' counsel has requested an award of attorneys' fees and expenses not exceeding 25% of the settlement fund, including incentive awards to plaintiffs not exceeding $10,000 per plaintiff.
Any former record holder or beneficial holder of Eargo, Inc. common stock whose shares were exchanged for the merger consideration is eligible to participate in the settlement. Those who wish to object to the settlement or be heard at the hearing must file a written objection with the Register in Chancery by December 28, 2026. The objection must include specific reasons for the objection and be signed by the objector.
The press release provides instructions for obtaining more information about the settlement, including the opportunity to view the detailed notice of pendency of stockholder class action and proposed settlement on the Settlement Website at www.eargostockholdersettlement.com.