WELCOME TO THE OATLY SECURITIES SETTLEMENT WEBSITE

This website has been established to provide general information related to the proposed Settlement of the class action lawsuit referred to as In re Oatly Group AB Securities Litigation, Civil Action No. 1:21-cv-06360-AKH (the “Federal Action” or the "Action"), and pending before the Honorable Alvin K. Hellerstein in the United States District Court for the Southern District of New York (the “Court”). If approved, the Settlement will also resolve all claims asserted in a related action pending in the Supreme Court of the State of New York styled as Hipple v. Oatly Group AB, et al., Index No. 151432/2022 (Sup. Ct. N.Y.) (the “State Court Action,” and together with the Action, the “Actions”). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement, dated February 14, 2024 (the "Stipulation"), which can be found and downloaded by clicking on the Case Documents tab above.

The law firms of Scott + Scott Attorneys at Law LLP and Robbins Geller Rudman & Dowd LLP represent you and other Settlement Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

Oatly manufactures and sells oat milk, a dairy substitute. Plaintiffs in both Actions allege that the Offering Documents for Oatly’s May 20, 2021 initial public offering (“IPO”) represented that Oatly had substantially expanded its production to satisfy increasing consumer demand in the lead up to the IPO, but failed to disclose declining retail market share and shelf space in key markets, significant production problems (including plant shutdowns), and cost headwinds related to increasing raw materials prices, which in turn rendered Oatly’s Offering Documents materially misleading in violation of the Securities Act of 1933 (the “Securities Act”). The Federal Action also alleges that certain Defendants made additional statements after the IPO that materially misrepresented the demand for Oatly’s oat-based products and market share in violation of the Securities Exchange Act of 1934 (the “Exchange Act”).  Defendants deny all of Plaintiffs’ allegations. 

WHAT DOES THE SETTLEMENT PROVIDE?

The Settlement Amount, $9.25 million, plus accrued interest (less any taxes owed thereon) and minus the costs of the Notice of Pendency and Proposed Settlement of Class Actions ("Notice"), settlement administration costs, attorneys’ fees and litigation expenses, and any awards to Plaintiffs for representing the Settlement Class, as approved by the Court (the “Net Settlement Fund”), will be distributed to eligible Settlement Class Members pursuant to the Plan of Allocation that is described at the end of the Notice.

ADDITIONAL INFORMATION

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation. We recommend you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IMPORTANT DATES AND DEADLINES