Colwell v. Exicure Inc.

Role	BFA was appointed as Lead Counsel for the putative class on March 20, 2023.
Background	The amended complaint alleges that from January 7, 2021 to December 10, 2021, defendants misrepresented the results of Exicure’s XCUR-FXN preclinical program for the treatment of Friedreich’s ataxia in public presentations and SEC filings, concealing serious improprieties committed by a senior researcher in the preclinical program.
Court	U.S. District Court for the Northern District of Illinois
Case Number	21-cv-6637
Status	Settled
Settlement Amount	$5.625 Million

Lead Plaintiff Order
Second Amended Class Action Complaint
Lead Plaintiff’s Notice of Unopposed Motion for Preliminary Approval of Proposed Class Action Settlement
Memorandum of Law in Support of Lead Plaintiff’s Unopposed Motion for Preliminary Approval of Proposed Class Action Settlement
Stipulation of Settlement
Proposed Order Preliminarily Approving Settlement and Providing for Class Notice
Notice
Long-Form Notice
Proof of Claim and Release Form
Summary Notice
Proposed Final Judgment
Kimball Declaration
Preliminary Approval Order
Lead Plaintiff's Motion for Final Approval of Proposed Class Action Settlement
Memorandum of Law in Support of Lead Plaintiff's Motion for Final Approval of Proposed Class Action Settlement
Lead Counsel's Motion for Attorneys' Fees, Litigation Expenses, and Lead Plaintiff's Reasonable Costs and Expenses
Memorandum of Law in Support of Lead Counsel's Motion for Attorneys' Fees, Litigation Expenses, and Lead Plaintiff's Reasonable Costs and Expenses
Declaration of Evan A. Kubota in Support of: (1) Lead Plaintiff's Motion for Final Approval of Proposed Class Action Settlement and (II) Lead Counsel's Motion for Attorney's Fees, Litigation Expenses, and Lead Plaintiff's Reasonable Costs and Expenses
Exhibit A—Declaration of James Mathew in Support of (I) Lead Plaintiff's Motion for Final Approval of Proposed Class Action Settlement, and (II) Lead Counsel's Motion for Attorney's Fees, Litigation Expenses, and Lead Plaintiff's Reasonable Costs and Expenses
Exhibit B—Summary of BFA Timekeeper Qualifications, Experience, and Role in the Litigation
Exhibit C—Summary Chart of BFA's Hours and Lodestar
Exhibit D—BFA's Firm Resume
Exhibit E—Declaration of Morgan Kimball Regarding (I) Mailing of Notice; (II) Publication of Summary Notice; (III) the Settlement Website and Contact Services; (IV) Claim Filing; and (V) Requests for Exclusion and Objections Received to Date
Exhibit F—Declaration of Kyle S. Bingham on Implementation of CAFA Notice
Exhibit G—Summary of BFA's Expenses
Exhibit H—Declaration of Jed Melnick in Support of Final Approval of Proposed Class Action Settlement
Exhibit I—Declaration of Elizabeth A. Fegan in Support of Lead Counsel's Motion for Attorneys' Fees, Litigation Expenses, and Lead Plaintiff's Reasonable Costs and Expenses Filed on Behalf of Fegan Scott LLC
Exhibit J—Declaration of Brian Schall in Support of Lead Counsel's Motion for Attorney's Fees, Litigation Expenses, and Lead Plaintiff's Reasonable Costs and Expenses, Filed on Behalf of The Schall Law Firm
Reply Memorandum of Law in Further Support of: (I) Lead Plaintiff's Motion for Final Approval of Proposed Class Action Settlement; and (II) Lead Counsel's Motion for Attorney's Fees, Litigation Expenses, and Lead Plaintiff's Reasonable Costs and Expenses
Supplemental Declaration of Morgan Kimball Regarding (I) Mailing of Notice; (II) The Settlement Website and Contact Center Services; (III) Claim Filing; and (IV) Requests for Exclusion and Objections Received to Date

BFA was appointed as Lead Counsel for the putative class on March 20, 2023.

The amended complaint alleges that from January 7, 2021 to December 10, 2021, defendants misrepresented the results of Exicure’s XCUR-FXN preclinical program for the treatment of Friedreich’s ataxia (“FA”) in public presentations and SEC filings, concealing serious improprieties committed by a senior researcher in the preclinical program. The initial complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

The Court appointed BFA client James Mathew as Lead Plaintiff on March 20, 2023. BFA filed a second amended complaint on May 26, 2023. On September 6, 2024, BFA moved for preliminary approval of a $5.625 million class settlement, representing over 22% of maximum estimated damages. On October 8, 2024, the Court granted preliminary approval, and final approval was granted on January 13, 2025.

Joseph A. Fonti Partner

Evan A. Kubota Partner

Frederick William Green Associate

Franklyn Williams Senior Projects Associate