Welcome to the Twist Securities Settlement Website

If you purchased or otherwise acquired Twist Bioscience common stock (collectively, “Twist common stock”) between December 20, 2018, and November 15, 2022, both dates inclusive, and were damaged thereby, you may be entitled to participate in a proposed Class Action Settlement.

A federal court authorized this website.

Summary: This website relates to a proposed Settlement of claims in a pending securities class action brought by investors alleging, among other things, that defendants Twist Securities Settlement (“Twist” or the “Company”), Twist Bioscience Corporation, Emily M. Leproust, and James M. Thornburn (collectively, “Individual Defendants”; and together with Twist, “Defendants”) violated the federal securities laws by making false and misleading statements regarding Twist’s internal controls and financial results. The case is pending in the United States District Court for the Southern District of California (the “Court”), and is captioned Peters v. Twist Bioscience Corp., et al., Case No. 5:22-cv-08168-EKL (N.D. Cal.) (the “Action”) U.S.

PLEASE READ THIS WEBSITE CAREFULLY. This website explains important rights you may have and what steps you must take if you wish to participate in the Settlement of this class action, wish to object, or wish to be excluded from the Settlement Class. If you are a Member of the Settlement Class, your legal rights will be affected whether or not you act.

Securities and Time Period: Twist common stock purchased or acquired (i) in the secondary offering of Twist common stock that Twist completed on December 2, 2020, and in which Twist offered 3,136,362 shares of Twist common stock (including 409,090 shares sold pursuant to the exercise in full by the Underwriters of their option to purchase additional shares) at $110.00 per share (the “December 2020 Offering”); and/or (ii) between December 20, 2018 and November 15, 2022, both inclusive.

Settlement Fund: The Settlement Fund to be allocated among Settlement Class Members, after deduction of certain amounts, is $17,050,000.00 in cash. Class Member recovery will depend in part on the type and amount of the transactions in Twist common stock purchased or acquired between December 20, 2018, and November 15, 2022 (both inclusive) and the timing of the purchases, acquisitions, and any sales. If claims are submitted for 100% of the eligible shares of Twist common stock, based on Plaintiff’s expert’s estimate of the number of damaged shares of Twist common stock eligible to recover under the Settlement, the estimated average recovery per affected Twist common share is $0.31 per share of Twist common stock, before deduction of Court-approved fees, expenses, and costs. Settlement Class Members should note, however, that these are only estimates. The actual amount per share Settlement Class Members could receive will depend on a number of factors, as explained in Question 10.

The Parties do not agree on the average amount of damages per share of Twist common stock that would be recoverable if Plaintiff were to prevail in the Action. Among other things, Defendants deny that Plaintiff has asserted any valid claims and expressly deny all allegations of fault, liability, wrongdoing, or damages whatsoever.

Settlement Class: The Court has conditionally certified the following Settlement Class:

Excluded from the Settlement Class are: (i) Defendants and any affiliates or subsidiaries thereof; (ii) present and former officers and directors of Twist and their immediate family members (as defined in Item 404 of SEC Regulation S-K, 17 C.F.R. § 229.404, Instructions (1)(a)(iii) & (1)(b)(ii)); (iii) Defendants’ liability insurance carriers, and any affiliates or subsidiaries thereof; (iv) any entity in which any Defendant had or has had a controlling interest; (v) Twist’s employee retirement and benefit plan(s); and (vi) the legal representatives, heirs, estates, agents, successors, or assigns of any person or entity described in the preceding five categories. Also excluded from the Settlement Class are those Persons who timely and validly request exclusion from the Settlement Class pursuant to the requirements set by the Court, which are set forth in Question 14.

Reasons for Settlement: The Settlement resolves claims by Lead Plaintiff Policemen’s Annuity and Benefit Fund of Chicago that have been asserted on behalf of the Settlement Class against Defendants Twist Bioscience Corporation, Emily M. Leproust, and James M. Thorburn. It avoids the costs and risks associated with continued litigation, including the danger of no recovery, and provides a substantial benefit to the Settlement Class now. It also releases Defendants and their Related Parties (see Question 13) from liability. Defendants, who deny all allegations of wrongdoing or liability whatsoever, are entering into the Settlement to eliminate the risks, uncertainty, burden, and expense of further protracted litigation. Accordingly, the Settlement may not be construed as an admission of any wrongdoing by Defendants.

Statement on Potential Outcome If the Case Had Not Settled: The Settlement must be compared to the risk of no recovery after contested motions, trial, and likely appeals. Litigation is a risky proposition and the Settlement Class might not have prevailed. The claims in this case involve numerous complex legal and factual issues that would require extensive and costly expert testimony. The parties disagree on both liability and damages. Among the many key issues about which the two sides do not agree are: (1) whether Defendants made any statements that were materially false or misleading, or made material omissions in violation of a duty to disclose or that are otherwise actionable, under the federal securities laws; (2) whether any such statements or omissions were made with the requisite level of intent (if any); (3) whether the alleged misstatements and omissions influenced the trading prices of Twist common stock during the relevant period; and (4) the amount of damages (if any) that could be recovered at trial, including the average amount of damages per share that would be recoverable if Plaintiff prevailed on each claim alleged.

Defendants have denied and continue to deny any and all allegations of wrongdoing or fault asserted in the Litigation, deny that they have committed any act or omission giving rise to any liability or violation of law, and deny that Plaintiff and the Settlement Class have suffered any loss attributable to Defendants’ actions.

Attorneys’ Fees and Expenses: Plaintiff’s Counsel have not received any payment for their work investigating the facts, conducting this Litigation, and negotiating the Settlement on behalf of Plaintiff and the Settlement Class. Lead Counsel will ask the Court for attorneys’ fees not to exceed 25% of the Settlement Amount, or $4,262,500.00, and for expenses in an amount not to exceed approximately $850,000.00, plus interest that is incurred on these amounts at the same rate as earned by the Settlement Fund. A copy of the Fee and Expense Application will be posted on the Important Documents page of this website after it has been filed with the Court.