What is the timeline for the lawsuit's progression and key milestones (e.g., filing, discovery, settlement, trial)? | LINE (Aug 08, 2025) | Candlesense
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What is the timeline for the lawsuit's progression and key milestones (e.g., filing, discovery, settlement, trial)?

Timeline & Key Milestones for the Lineage, Inc. (NASDAQ: LINE) Securities‑Fraud Class Action

Milestone Date (as far as we can tell from the filing) What Happens at This Stage Typical Duration / What to Expect Next
1. Complaint Filing August 8 2025 – The press release announcing the case was issued on this date, and the class‑action complaint was filed with the U.S. District Court (likely the Central District of California, given the Los Angeles location of the law firm). The complaint sets out the alleged securities‑fraud claims tied to the July 2024 IPO registration statement, names the defendants, and formally creates the class. Immediate – the case is now “live” in the court system.
2. Class‑Certification Order (Pre‑Notice Period) Within 30‑45 days of filing (roughly early‑September 2025) The court will hold a pre‑certification hearing to decide whether the case meets the four Rule 23 requirements (typicality, commonality, adequacy of representation, and numerosity). If the court grants certification, the class is officially recognized. 1–2 months.
3. Claims‑Submission/Opt‑Out Deadline September 30 2025 (explicitly stated in the release) All potential class members must file a claim (or, if they wish, formally opt‑out) by this date to preserve their right to receive any eventual distribution. The deadline also triggers the start of the “claims‑administration” phase. This is a hard cut‑off; after this date the court will stop accepting new claims.
4. Discovery Phase Approximately October 2025 – April 2026 (≈ 6 months) Once the class is certified, the parties exchange documents, emails, internal communications, and other evidence related to the IPO registration, the underwriting process, and any alleged misstatements. This includes:
• Depositions of Lineage executives, underwriters, and any “experts.”
• Requests for production of IPO‑related filings, analyst reports, and internal memos.
• Potential electronic‑discovery of trading‑data and communications.		 Discovery in securities‑fraud cases often lasts 6–12 months. The length can be extended if disputes over the scope of documents arise.
5. Settlement Negotiations (or Trial‑Readiness Review) May 2026 – December 2026 (≈ 7‑12 months) After discovery, the parties will evaluate the strength of the claims and the potential exposure. Most securities‑fraud class actions are resolved through settlement, so this window is when:
• Negotiations on a settlement fund and distribution methodology take place.
• If a settlement cannot be reached, the parties will prepare for trial (e.g., pre‑trial motions, jury‑selection plans).		 Settlements can be reached quickly (a few months) or can drag out to a year if the parties are at odds.
6. Settlement Confirmation (if any) Early 2027 (typically 30‑day “review” period) If a settlement is agreed, the parties file a proposed settlement agreement and a fair‑facts hearing with the court. The judge reviews the fairness of the settlement, the adequacy of the fund, and the distribution plan. Usually 30‑60 days of court review; if the judge approves, the settlement is entered and the claims‑administration process begins.
7. Trial (if no settlement) Mid‑2027 – Late 2027 (or later) If the case proceeds to trial, the court will set a trial date (often 12‑18 months after the end of discovery). The trial will be before a federal jury and can last several weeks, depending on the complexity of the alleged fraud. A securities‑fraud trial can run 2‑4 weeks, with post‑trial motions possibly extending the timeline another few months.
8. Post‑Trial/Appeal (if applicable) Late 2027 – 2028 Either side may appeal the verdict or any post‑trial rulings. Appeals in the federal system can add 6‑12 months (or more) to the overall timeline. 6‑12 months for appellate briefing and briefing; the appellate court’s decision may be immediate or may be delayed by docket congestion.
9. Final Distribution (if settlement) 2028 – 2029 (depending on the size of the settlement and the efficiency of the claims‑administration process) Once the settlement is approved, a claims‑administration firm will process individual claim forms, verify eligibility, and issue cash or other relief to class members. This phase can take 12‑24 months, especially for large, nationwide class actions.

How the Timeline Fits Together

  1. Filing (Aug 8 2025) – The case is now officially before the court.
  2. Class‑Certification & Claims Deadline (by Sep 30 2025) – Potential claimants must act now; after this date the class is “closed” for new members.
  3. Discovery (Oct 2025 – Apr 2026) – The bulk of the evidence‑gathering work.
  4. Settlement Negotiations (May 2026 – Dec 2026) – The most likely resolution path; if parties can’t agree, the case moves toward trial.
  5. Settlement Confirmation (Early 2027) – If a settlement is reached, the court must sign off.
  6. Trial (Mid‑2027 onward) – Only if settlement fails; the trial date is set after discovery and pre‑trial motions.
  7. Appeal (Late 2027‑2028) – Potentially extends the timeline if the case goes to appellate court.
  8. Distribution (2028‑2029) – The final step for claimants if a settlement is approved.

What This Means for Potential Claimants

  • Act Now – The September 30 2025 deadline is the only hard date mentioned. If you bought or otherwise acquired LINE shares in the IPO and believe you were misled, you must file a claim (or formally opt‑out) by that date to preserve any right to a later distribution.
  • Expect a 12‑Month Discovery Period – After the class is certified, the parties will be exchanging documents and taking depositions. This is the phase where the most substantive factual work occurs.
  • Settlement is the Most Common Outcome – Historically, > 90 % of securities‑fraud class actions settle before trial. Expect settlement negotiations to dominate the mid‑2026 to early‑2027 window.
  • If the case goes to trial, the timeline could stretch into 2028 – From filing to a final verdict (and any subsequent appeal) can be 3‑4 years for a complex securities‑fraud case.

Bottom‑Line Timeline Snapshot

Date Milestone
Aug 8 2025 Complaint filed (case opened).
Early Sep 2025 Pre‑certification hearing; class‑certification decision.
Sep 30 2025 Claims‑submission / opt‑out deadline for LINE investors.
Oct 2025 – Apr 2026 Formal discovery (document exchange, depositions).
May 2026 – Dec 2026 Settlement negotiations (or trial‑readiness).
Early 2027 Settlement confirmation (if settlement reached).
Mid‑2027 – Late 2027 Trial (if no settlement).
Late 2027 – 2028 Appeal (if trial and a party appeals).
2028‑2029 Final settlement distribution to class members (if settlement).

Key Takeaway: The only concrete deadline disclosed in the filing is September 30 2025 for investors to assert their rights. After that, the case will follow a typical securities‑fraud class‑action trajectory—class certification, discovery, settlement talks (or trial), and finally, either a court‑approved settlement distribution or a trial verdict (with possible appeal). If you are a LINE investor, the immediate priority is to file a claim or opt‑out before the September 30 deadline.

Other Questions About This News

What is the estimated size and scope of the class action settlement, if any, and how could that impact shareholder equity? How might the securities fraud lawsuit affect LINE's stock price in the short term and long term? How does the legal risk compare to that of peer companies in the same sector that have faced similar securities fraud claims? What are the odds of a settlement versus a court judgment, and how might that affect the stock’s risk premium? Are any major institutional investors or large shareholders already publicly responding to the lawsuit? Are there any specific allegations or disclosures in the IPO registration statement that could have material impact on the company's valuation? What is the potential financial exposure for Lineage, Inc. and its management team if the lawsuit succeeds? How might this litigation affect Lineage's ability to raise additional capital or secure financing in the future? What precedent does Glancy Prongay & Murray LLP have in similar cases, and how might that influence the outcome? What is the expected impact on trading volume and volatility for LINE leading up to the September 30, 2025 deadline for investors to join the class action? Could the lawsuit trigger a re‑examination of Lineage’s financial statements, auditor opinions, or internal controls?