KROLL SETTLEMENT ADMINISTRATION ANNOUNCES A PROPOSED CLASS ACTION SETTLEMENT HAS BEEN REACHED IN THE TRICIDA SECURITIES LITIGATION

PHILADELPHIA, June 20, 2025 /PRNewswire/ -- The following statement is being issued by Kroll Settlement Administration regarding Pardi v. Tricida, Inc., Case No. 4:21-cv-00076-HSG pending in the United States District Court, Northern District of California, Oakland Division.

TO: ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED TRICIDA, INC. COMMON STOCK FROM MAY 8, 2020 TO FEBRUARY 25, 2021, INCLUSIVE, AND WERE DAMAGED THEREBY (THE "CLASS").

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on October 16, 2025 at 2:00 p.m. PT, before the Honorable Haywood S. Gilliam, Jr., United States District Judge, at the United States District Court for the Northern District of California, Oakland Courthouse, 1301 Clay Street, Oakland, CA 94612, Courtroom 2 – 4th Floor, for the purpose of determining: (1) whether the proposed Settlement of the above-captioned Action, as set forth in the Settlement Agreement reached between the Parties, consisting of $14,250,000 in cash, should be approved as fair, reasonable, and adequate to the Members of the Class; (2) whether the release by Class Members of claims as set forth in the Stipulation and Agreement of Class Action Settlement (the "Stipulation") should be authorized; (3) whether the proposed plan to distribute the settlement proceeds (the "Plan of Allocation") is fair, reasonable, and adequate; (4) whether the application by Class Counsel for an award of attorneys' fees and expenses and any award to Class Representative should be approved; and (5) whether the Judgment, in the form attached to the Stipulation, should be entered. The Court may change the date of the Settlement Hearing without providing another notice. You do NOT need to attend the Settlement Hearing in order to receive a distribution from the Net Settlement Fund.

IF YOU PURCHASED OR OTHERWISE ACQUIRED TRICIDA, INC. COMMON STOCK DURING THE PERIOD FROM MAY 8, 2020 TO FEBRUARY 25, 2021, INCLUSIVE, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

To be eligible for a payment from the proceeds of the Settlement, you must be a member of the Class and you must timely complete and return the Claim Form with adequate supporting documentation postmarked no later than October 1, 2025, or electronically at the following website: www.TricidaSecuritiesSettlement.com, or by email at the following email address: [email protected], no later than October 1, 2025. Your failure to submit your Claim Form by October 1, 2025, will subject your claim to possible rejection and may preclude you from receiving any of the recovery in connection with the Settlement of this Action. Class Counsel represents you and other Class Members. If you want to be represented by your own lawyer, you may hire one at your own expense.

If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement or exclude yourself from the Class), or a Claim Form, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other Settlement documents, online at www.TricidaSecuritiesSettlement.com, or by writing to, emailing, or calling:

Tricida Securities Settlement
c/o Kroll Settlement Administration LLC
P.O. Box 225391
New York, NY 10150-5391
(833) 876-1381
[email protected]

Inquiries may also be made to a representative of Class Counsel at:

Block & Leviton LLP
Attn: Michael Gaines
260 Franklin Street, Suite 1860
Boston, MA 02110
(617) 398-5600
Email: [email protected]

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.

If you desire to be excluded from the class, you must submit a request for exclusion such that it is received no later than September 11, 2025, in the manner and form explained in the Notice. All members of the class who have not requested exclusion from the Class will be bound by any judgments or orders entered by the Court in the Action, even if they do not file a timely Claim Form.

If you are a class member, you have the right to object to the Settlement, the Plan of Allocation, the request by Class Counsel for an award of attorneys' fees, costs, and expenses, and/or the application for an award to the Class Representative for its time and expenses. Any written objections must be sent to the Clerk's Office at the United States District Court for the Northern District of California. You must also serve the papers on Class Counsel and on Defendant's Counsel such that they are received on or before September 11, 2025, in the manner and form explained in the Notice. If you fail to object in the manner and form explained in the Notice by September 11, 2025, you will be deemed to have waived any objection and will not be able to appear separately at the Settlement Hearing or make any objection to the Settlement, the Plan of Allocation, the request by Class Counsel for an award of attorneys' fees, costs, and expenses, and/or the application for an award to the Class Representative for its time and expenses.

Any Class Member who does not request exclusion from the class may enter an appearance in the action, at his, her or its own expense, individually or through counsel of his, her or its own choice, by filing with the Clerk of Court and delivering a notice of appearance to both Lead Counsel and Defendant's Counsel, at the addresses set forth in the notice, such that it is received no later September 25, 2025, or as the court may otherwise direct. 

Please not call or write to the Court, the Office of the Clerk of the Court, Defendant or his Counsel regarding this notice.

DATED: MAY 16, 2025

BY ORDER OF THE UNITED STATES, DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA

SOURCE Kroll Settlement Administration