Big Banks Settle Zymergen IPO Investor Suit for $125 Million (1)

JP Morgan Securities LLC, Goldman Sachs & Co. LLC, BofA Securities Inc., and other architects of bankrupted biotech company Zymergen Inc.‘s short-lived market debut agreed to pay $125 million to settle an investor class action.

The settling defendants include its bank underwriters, Zymergen executives and directors, and three major early investors with their related funds that had the right to place board members: SoftBank’s SB Investment Advisers (US) Inc., DCVC Management Co., and True Venture Management LLC. The deal proposed Wednesday, if approved by Judge P. Casey Pitts in the US District Court for the ...