New England Biolabs Settlement

Jackson v. Personal Representative of Donald Comb et al.
Case No. 1:23-cv-12208-RGS (D. Mass.)

Welcome to the New England Biolabs Settlement Home Page.

The parties to this class action have reached a settlement subject to court approval and the Court has preliminarily approved the Settlement. The Settlement provides for a payment to Class Members who were entitled under the Plan to immediate payment (i.e. a participant or a beneficiary who was entitled to an immediate payment) related to the value of the New England Biolabs, Inc. (“NEB”) stock in the New England Biolabs, Inc. Non-Voting Stock Ownership Plan (the “Plan”).

The Court certified the Class as follows: All participants in the New England BioLabs Non-Voting Stock Ownership Plan whose NEB stock in their Plan account was liquidated (in whole or in part) between September 29, 2017 and December 31, 2021 – including all participants to whom NEB shares were distributed in kind (i.e. in the form of physical share certificates) between September 29, 2017 and September 30, 2019 and which were subsequently repurchased by NEB or the Plan before December 31, 2020 – and the beneficiaries of such participants, except the Excluded Persons.

“Excluded Persons” means the following persons who are excluded from the Class: (a) Defendants, (b) officers and directors of New England Biolabs, Inc., (c) any fiduciaries of the Plan at any time during September 2017 and December 30, 2021, (d) the beneficiaries of such persons or (e) the immediate family members of any of the foregoing, and (f) any participants who previously settled claims alleged in the Amended Complaint and (g) the legal representatives, successors, and assigns of any such excluded persons.

Settlement payments will be allocated to Class Members’ Plan accounts and then distributed to through the Plan. Class Members can elect a direct rollover of their settlement payment to an IRA or another eligible retirement plan or receive a distribution (less applicable income tax withholding).

This website is provided as a service to eligible settlement participants. The information provided is in summary form and is not intended as a complete explanation of your rights. For full and complete information, you are directed to review carefully the Notice of Proposed Class Action Settlement.

Current Status

The Court Preliminarily Approved the Settlement on April 21, 2025.

A Final Approval Hearing for the proposed Settlement is scheduled for August 6, 2025.

What Are My Options?

Choose a Distribution

— Deadline: TBA

If you are a Class Member who is either (1) a participant or (2) a beneficiary entitled to an immediate payment under the Plan, then you are entitled to choose the form of distribution. To provide tax favored treatment, your payment will first be transferred to the Plan. You may elect to take a rollover or receive a distribution of your account from the Plan in accordance with the terms of the Plan.

After the Court’s order granting final approval becomes non-appealable, your share of the Net Settlement Amount will be transferred to your restored Plan Account. You will then receive an Election Distribution Packet. If you do not receive an Election Distribution Packet, you will be able to access it on this site after final approval. The Plan Administrator will distribute or rollover your settlement payment based on your election. There will be no charge for you to receive a distribution or rollover of the proceeds from this Settlement so long as you make this election within 90 days of receiving the Election Distribution Packet. If you failed to make a timely distribution election, you may be charged expenses related to administration of the Plan (but not costs to receive a distribution) that are typically charged to plan participants.

Submit a Challenge to the Data

— Deadline: July 11, 2025

If you believe that the data about your Plan account is incorrect OR you believe that you are a Class Member but did not receive personalized notice sent to you, you can submit information explaining why the data needs to be corrected or why you are a Class Member. You need to submit this challenge by July 11, 2025, to the address listed below.

Object

— Deadline: July 11, 2025

If you are not satisfied with the terms of the proposed Settlement, then you or your attorney may inform the Court by sending a letter or written statement by July 11, 2025, to the address below.

YOU ARE ABLE TO CHOOSE MORE THAN ONE OPTION:
If you object or challenge data, you may still request a distribution.