Scott + Scott Attorneys at Law LLP and Robbins Geller Rudman & Dowd LLP Announce Proposed Settlement in the Oatly Securities Litigation

The following statement is being issued by Scott + Scott Attorneys at Law LLP and Robbins Geller Rudman & Dowd LLP regarding the Oatly Securities Litigation:

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

In re OATLY GROUP AB SECURITIES LITIGATION

Consolidated Civil Action No. 1:21-cv-06360-AKH

SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK

BRUCE HIPPLE, Individually and on Behalf of All Others Similarly Situated,			Index No. 151432/2022
	Plaintiff,		CLASS ACTION
vs.
			Justice Andrew Borrok
OATLY GROUP AB, et al.,
	Defendants.

SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT

TO: (1) ALL PERSONS WHO PURCHASED OR ACQUIRED OATLY GROUP AB (“OATLY” OR “COMPANY”) AMERICAN DEPOSITARY SHARES (“ADS”) BETWEEN MAY 20, 2021 AND NOVEMBER 15, 2021 INCLUSIVE (THE “CLASS PERIOD”), OR OTHERWISE PURSUANT TO THE OFFERING DOCUMENTS FOR OATLY’S MAY 20, 2021 INITIAL PUBLIC OFFERING (“IPO”), AND WERE DAMAGED THEREBY, AND (2) ALL PERSONS WHO PURCHASED OR ACQUIRED CALL OPTIONS OR SOLD PUT OPTIONS ON OATLY ADS DURING THE CLASS PERIOD, OR OTHERWISE PURSUANT TO OATLY’S OFFERING DOCUMENTS, AND WERE DAMAGED THEREBY.

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on July 17, 2024, at 2:30 p.m., before the Honorable Alvin K. Hellerstein, U.S. District Court, Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., New York, NY 10007, to determine whether: (1) the proposed settlement (the “Settlement”) of the above-captioned action (the “Action”) as well as the action pending in the Supreme Court of the State of New York, County of New York, styled as Hipple v. Oatly Group AB, et al., Index No. 151432/2022 (Sup. Ct. N.Y.) (“State Action”) as set forth in the Stipulation of Settlement (“Stipulation”)¹ for $9,250,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Judgment as provided under the Stipulation should be entered; (3) to award Plaintiffs’ Counsel attorneys’ fees and expenses out of the Settlement Fund (as defined in the Notice of Pendency and Proposed Settlement of Class Actions (“Notice”), which is discussed below), and, if so, in what amount; (4) to award Plaintiffs for representing the Settlement Class out of the Settlement Fund and, if so, in what amount; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable, and adequate.