Labaton Keller Sucharow LLP Announces Proposed Settlement Involving Purchasers of The Honest Company, Inc. Common Stock

LOS ANGELES, June 4, 2025 /PRNewswire/ -- 

UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA

To: All persons and entities that purchased or otherwise acquired The Honest Company, Inc. publicly traded common stock pursuant and traceable to the Offering Documents for Honest's initial public offering ("IPO") prior to August 19, 2021, or acquired ownership of a trading account, retirement account, or any other similar investment account or portfolio containing such stock.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Central District of California, that Court-appointed Class Representative Kathie Ng, and the other members of the certified Class, and defendants The Honest Company, Inc. ("Honest"), Nikolaos Vlahos, Kelly Kennedy, Jessica Warren, Katie Bayne, Scott Dahnke, Eric Liaw, Jeremy Liew, Avik Pramanik, Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Jefferies LLC, BofA Securities, Inc., Citigroup Global Markets, Inc., William Blair & Company, L.L.C., Guggenheim Securities, LLC, Telsey Advisory Group LLC, C.L. King & Associates, Inc., Loop Capital Markets LLC, Penserra Securities LLC, Samuel A. Ramirez & Company, Inc., Catterton Management Company L.L.C., L Catterton VIII, L.P., L Catterton VIII Offshore, L.P., Catterton Managing Partner VIII, L.L.C., C8 Management, L.L.C., and THC Shared Abacus, LP (collectively, "Defendants"), have reached a proposed settlement of the claims in the above-captioned class action (the "Action") and related claims in the amount of $27,500,000 (the "Settlement"). 

A hearing will be held before the Honorable Mark C. Scarsi on July 28, 2025, at 9:00 a.m. (Pacific), at the First Street Courthouse, 350 W. 1st Street, Courtroom 7C, 7th Floor, Los Angeles, California 90012 (the "Settlement Hearing") to, among other things, determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action as provided in the Stipulation and Agreement of Settlement, dated March 11, 2025; (iii) approve the proposed Plan of Allocation for distribution of the settlement funds available for distribution to eligible Class Members (the "Net Settlement Fund"); and (iv) approve Class Counsel's Fee and Expense Application seeking attorneys' fees of no more than 30% of the Settlement Fund and Litigation Expenses of no more than $1,725,000, plus accrued interest.  The Court may change the date of the Settlement Hearing without providing another notice.  You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT.¹  

If you have not yet received a Settlement Postcard, you may obtain copies of the Settlement Postcard, long-form Settlement Notice, and Claim Form by visiting the website for the case, www.TheHonestCompanySecuritiesLitigation.com, or by contacting the Claims Administrator at:

In re The Honest Company, Inc. Sec. Litig.
c/o Epiq
P.O. Box 5619
Portland, OR 97228-5619
[email protected]
www.TheHonestCompanySecuritiesLitigation.com
(888) 670-8722

Inquiries, other than requests for copies of notice documents or for information about the status of a claim, may also be made to Class Counsel:

Alfred L. Fatale III, Esq.
LABATON KELLER SUCHAROW LLP
140 Broadway
New York, NY 10005
www.labaton.com
[email protected]
(888) 219-6877

If you are a Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than July 14, 2025.  If you are a Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments and orders entered by the Court, whether favorable or unfavorable. 

Any objections to the proposed Settlement, Class Counsel's Fee and Expense Application, and/or the proposed Plan of Allocation must be provided to counsel and filed with the Court in accordance with the instructions in the Settlement Notice, such that they are received no later than July 7, 2025.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

DATED: June 4, 2025           

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

¹ If you previously submitted a request for exclusion from the Class in connection with the Class Notice mailed in 2023, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund. 

URL: www.TheHonestCompanySecuritiesLitigation.com

SOURCE United States District Court Central District of California