Blue Apron Holdings Inc has agreed to pay $13.25 million to end a shareholders’ lawsuit in Brooklyn federal court alleging the meal kit subscription service misled investors about production delays ahead of its 2017 initial public offering.
Lead plaintiffs, a group of investors represented by Pomerantz and the Rosen Law Firm, filed a motion on Friday asking U.S. District Judge William Kuntz to approve their settlement with the New York-based company. Blue Apron, represented by Wilmer Cutler Pickering Hale and Dorr, did not admit wrongdoing in the settlement.
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