The single date that decides most Edwards Lifesciences claims is July 24, 2024: an EW share bought during the class period and sold before the market closed that day is assigned a loss of $0 under the $39 million settlement. Only shares still held at that close can produce a payment, and the notice estimates the average recovery at about $0.66 a share before fees. Claims are due December 2, 2026.
Status: Claims open, preliminary approval granted August 3, 2026 | Claim deadline December 2, 2026 | Opt out or object by December 2, 2026 | Final approval hearing December 16, 2026
The Case Behind the Fund
The lawsuit is Patel v. Edwards Lifesciences Corp., No. 8:24-cv-02221-AH-KES, in the U.S. District Court for the Central District of California, filed October 14, 2024. It centers on Edwards’ transcatheter aortic valve replacement (TAVR) business, the heart-valve platform that drives much of the company’s sales.
Investors allege that Edwards and its chief executive, Bernard J. Zovighian, made materially false and misleading statements about how fast the TAVR business would grow. According to the complaint, the truth reached the market on July 24, 2024, when Edwards reported results and revised its TAVR guidance, and the stock reacted on July 25, 2024. Edwards and Zovighian deny every allegation, deny violating the securities laws, and the settlement is not an admission of wrongdoing.
On September 19, 2025, the court allowed the core Section 10(b) fraud claim to go forward against Edwards and Zovighian and dismissed the claims against three other former executives, describing the question of Zovighian’s intent as “a very close one.” Discovery limited to that issue followed. After an April 20, 2026 mediation session, both sides accepted the mediator’s $39 million recommendation and signed the settlement agreement on July 1, 2026. Judge Anne Hwang granted preliminary approval on August 3, 2026, and notice went out under an order dated August 24, 2026.
Who Is in the Class — and Who Actually Recovers
The class includes every person or entity that purchased or otherwise acquired Edwards Lifesciences common stock (NYSE: EW) from February 6, 2024 through July 24, 2024, inclusive, and was damaged by it. The defendants, Edwards’ current and former officers and directors (including the three dismissed former executives), their immediate families, entities they control, their legal representatives and heirs, and anyone who opts out are excluded.
Being in the class is not the same as receiving money. Several rules in the plan of allocation narrow the field:
- Timing: a share bought and sold inside the class period recovers nothing. It has to have been held through the close on July 24, 2024.
- Employee plan shares: Edwards stock held through an Edwards employee benefit plan covered by ERISA stays off this claim form. Only shares bought outside the plan count.
- Options and shorts: option contracts are not eligible securities, and short sales carry no recoverable loss. Stock bought or sold by exercising an option is treated as bought or sold on the exercise date at the exercise price.
- Overall gains: a claimant with an overall market gain on class-period Edwards shares recovers nothing, and a claimant whose market loss is smaller than the calculated claim is capped at that market loss.
How Each Share Is Valued
The plan of allocation uses $24.17 as the estimated artificial inflation removed from Edwards’ price on July 25, 2024. Each eligible share receives a Recognized Loss Amount based on when it was sold:
| Sold before the close on July 24, 2024 | $0 |
| Sold July 25 through October 22, 2024 | The smallest of $24.17; the purchase price minus the average closing price from July 25 through the sale date; or the purchase price minus the sale price |
| Still held at the close on October 22, 2024 | The lesser of $24.17 or the purchase price minus $66.77, the average closing price during the 90-day look-back period |
Multiple purchases and sales are matched last in, first out. The recognized losses of all valid claimants are then used to divide the net fund pro rata.
What the Estimate Means After Fees
The notice estimates an average recovery of about $0.66 per eligible share before court-approved fees and expenses. Lead Counsel plans to request attorneys’ fees of up to 25% of the fund plus up to $195,000 in litigation expenses, and notice and administration costs also come out of the fund. If the court awards the maximum, the deductions average about $0.17 a share, leaving roughly $0.49 a share.
Both figures assume every eligible investor files a claim. Actual payments depend on your purchase and sale dates and prices and on how many valid claims are submitted. Any distribution that calculates to less than $10 is not issued; that money is redistributed to claimants whose payment is $10 or more.
Records You Will Need
The administrator does not have your trading history, and neither do the parties. The claim form asks for a schedule of your Edwards common stock holdings at the start of the class period and every purchase, acquisition and sale from February 6, 2024 through October 22, 2024, backed by brokerage statements or trade confirmations. If a broker or other nominee held your shares, the notice requires that nominee to forward the notice to you or send your contact details to the administrator.
Deadlines
| November 11, 2026 | Lead Counsel’s fee motion due; it will be posted on the settlement website |
| December 2, 2026 | Claim forms due online, or mailed with a postmark by this date. The notice gives no time zone for online filing. |
| December 2, 2026 | Exclusion requests must be received; written objections must be filed with the court and received by counsel |
| December 16, 2026, 1:30 p.m. PT | Final approval hearing before Judge Hwang, Courtroom 9C, Los Angeles |
The notice warns the hearing date or format may change without further mailed notice; changes will be posted on the settlement website. An opt-out must be a signed written request that names the case, lists your Edwards holdings and class-period trades, and reaches the administrator by December 2, 2026. Opting out forfeits any payment but preserves your right to sue on your own.
Filing the Claim
Claims go through the official Edwards Lifesciences Securities Litigation website, run by the court-approved administrator, Kroll Settlement Administration. You can file online and upload your statements, or download a paper form and mail it. No payment date has been set; money goes out only after final approval, the resolution of any appeals and the completion of claims processing. The Edwards Lifesciences settlement page on OpenClassActions.com tracks the case as the court acts.
The release in this settlement does not cover claims in any related ERISA or shareholder derivative action, including In re Edwards Lifesciences Corp. Derivative Litigation, No. 8:24-cv-02822 (C.D. Cal.).
Frequently Asked Questions
I sold my class-period Edwards shares before July 25, 2024. Can I still recover?
No. Under the proposed plan of allocation, class-period shares sold before the close of trading on July 24, 2024 have a Recognized Loss of $0. Only shares held through that close can produce a payment.
How much will I get per share?
The notice estimates an average of about $0.66 per eligible share before fees and expenses, or roughly $0.49 after the maximum requested deductions. Those are averages that assume every eligible investor files; your amount depends on your trades and the number of valid claims.
Can I include shares from my Edwards 401(k)?
No. Shares held through an Edwards employee benefit plan covered by ERISA are left off this claim form. Only Edwards common stock bought outside the plan counts.
Is there a minimum payment?
Yes. If your calculated distribution is less than $10, no payment is issued and that money is redistributed to claimants whose distribution is $10 or more.
When is the claim deadline?
Claim forms must be submitted online or postmarked by December 2, 2026. Exclusion requests and objections are due by the same date.
Sources
- Official settlement website and claim portal — Edwards Lifesciences Securities Litigation, administered by Kroll Settlement Administration.
- Notice of Pendency of Class Action and Proposed Settlement, dated August 24, 2026, including the Plan of Allocation, in Patel v. Edwards Lifesciences Corp., No. 8:24-cv-02221-AH-KES (C.D. Cal.).
- OpenClassActions.com — Edwards Lifesciences $39M Securities Settlement.
Source and credit: the settlement terms, deadlines and benefit details described above are drawn from our sister site’s reporting — OpenClassActions.com: Edwards Lifesciences $39M Securities Settlement (EW) — which tracks this case against the court-approved notice and the official settlement website and is updated as the court rules.
Legal Disclaimer
This article is for informational purposes only and is not legal advice. OpenClassActions.org is a consumer news site, not a law firm and not the settlement administrator, and is not affiliated with any party to the case described. The allegations are allegations; unless a court has ruled, the defendants deny wrongdoing and no court has decided the merits. Deadlines, benefit amounts and payment timing can change as the court and the administrator act, so confirm current status on the official settlement website. You never need to pay anyone to file a claim or to receive a settlement payment.