Cerence Securities Litigation $30 Million Settlement

If you purchased or acquired Cerence Inc. common stock between November 16, 2020, and February 4, 2022, you may be eligible to claim compensation from a class action settlement.

Cerence Inc. has agreed to pay $30,000,000 to settle a class action lawsuit for alleged misrepresentations and omissions regarding a scheme to pull forward revenues from future quarters to meet revenue guidance.

Who can file a claim?

To be eligible to file a claim, you must meet the following criteria:

• You purchased or otherwise acquired Cerence common stock during the period from November 16, 2020, through February 4, 2022
• You suffered losses

How much can class members get?

The estimated average recovery per eligible share of Cerence common stock is approximately $1.12 before deductions for court-approved fees, expenses, and costs.

The actual amount received will depend on several factors, including:

• The number of valid claims submitted.
• The number of shares purchased and sold during the Class Period.
• The timing of purchases and sales.

For example, if a class member purchased 100 shares at $50 each and sold them at $30 each, their recognized loss would be calculated based on the difference in the purchase and sale price, adjusted for the average closing price during the 90-day look-back period.

What documentation is required to file a claim?

Claimants need to provide proof of their transactions in Cerence common stock. Documentation such as brokerage confirmation slips, monthly brokerage account statements, or authorized statements from brokers containing transactional information must be submitted.

How to file a claim

To claim a portion of the settlement, you must file a claim online or download a claim form and mail it to:

Cerence Securities Litigation

c/o A.B. Data, Ltd.

P.O. Box 173038

Milwaukee, WI 53217

Ensure your claim is postmarked or submitted online by January 30, 2025.

$30 Million settlement fund

The settlement fund of $30,000,000 will cover:

• Payments to eligible class members.
• Attorneys' fees and litigation expenses, not to exceed 25% of the Settlement Fund.
• Notice and administration expenses.
• Any other costs approved by the Court.

Important dates

• Deadline to File a Claim: January 30, 2025
• Fairness Hearing: December 16, 2024

When is the Cerence Securities Litigation payout date?

Payments to eligible claimants will be made only after the Settlement is approved and all claims processing is complete.

Why is there a class action settlement?

The class action lawsuit was filed due to alleged misrepresentations and omissions by Cerence Inc. regarding a scheme to pull forward revenues to meet revenue guidance. The parties agreed to settle to avoid the uncertainty and expense of further litigation.

What happens next?

After the Fairness Hearing on December 16, 2024, if the Settlement is approved, the Claims Administrator will process claims and distribute payments to eligible class members.