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Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the Miller Energy Securities Litigation

By: via Business Wire

The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Miller Energy Securities Litigation:

IN THE CIRCUIT COURT FOR MORGAN COUNTY

NINTH JUDICIAL DISTRICT

THE STATE OF TENNESSEE

MARCIA GOLDBERG, Individually and

on Behalf of All Others Similarly Situated,

 

                                            Plaintiff,

 

      vs.

 

DELOY MILLER, et al.,

 

                                            Defendants.

 

)

)

)

)

)

)

)

)

)

)

)

Case No. 2015-CV-33

Judge Pemberton

 

KENNETH GAYNOR, Individually and

on Behalf of All Others Similarly Situated,

 

                                            Plaintiff,

 

      vs.

 

DELOY MILLER, et al.,

 

                                            Defendants.

 

 

 

)

)

)

)

)

)

)

)

)

)

)

 

Case No. 2015-CV-34

Judge Pemberton

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED CLASS ACTION SETTLEMENT, AND MOTION FOR ATTORNEYS’ FEES AND EXPENSES

TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED MILLER ENERGY’S 10.75% SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK (“SERIES C”) AND/OR 10.5% SERIES D FIXED RATE/FLOATING CUMULATIVE REDEEMABLE PREFERRED STOCK (“SERIES D”) ON OR AFTER FEBRUARY 13, 2013, AND WHO WERE DAMAGED THEREBY

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Circuit Court for Morgan County, Ninth Judicial District in the State of Tennessee, that a hearing, which the Court may require or permit to be conducted as a telephonic hearing in light of the ongoing exigent circumstances caused by the COVID-19 pandemic, will be held on June 12, 2023, at 1:00 p.m., before the Honorable Michael S. Pemberton, Circuit Court Judge, at the Circuit Court for Morgan County, Ninth Judicial District in the State of Tennessee, Morgan County Courthouse, 415 North Kingston Street, Wartburg, TN 37887, for the purpose of determining whether: (1) the Settlement as set forth in the Stipulation for $7,600,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Settlement Class should be finally certified pursuant to Rules 23.01 and 23.02(3) of the Tennessee Rules of Civil Procedure for purposes of settlement only; (3) Judgment as provided under the Stipulation should be entered; (4) to award Lead Counsel attorneys’ fees and expenses out of the Settlement Fund and, if so, in what amount; (5) to award Plaintiffs an amount in connection with their representation of the Settlement Class out of the Settlement Fund and, if so, in what amount; and (6) the Plan of Allocation should be approved by the Court. The Court may adjourn or continue the Settlement Hearing without further notice to Settlement Class Members.

Please note that the date, time, and location of the Settlement Hearing are subject to change without further notice. In light of the ongoing exigent circumstances caused by the COVID-19 pandemic, the Court may require or permit attendance at the Settlement Hearing by telephone. If the Court requires or permits telephonic participation in the Settlement Hearing, the dial-in number for the Settlement Hearing will be posted on www.MillerEnergySecuritiesLitigation.com. Settlement Class Members who intend to appear at the Settlement Hearing are advised to visit www.MillerEnergySecuritiesLitigation.com for updates.

IF YOU PURCHASED OR OTHERWISE ACQUIRED MILLER ENERGY’S SERIES C AND/OR SERIES D PREFERRED STOCK ON OR AFTER FEBRUARY 13, 2013, AND WERE DAMAGED THEREBY, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form (“Proof of Claim”) by mail (postmarked no later than June 20, 2023) or electronically (no later than June 20, 2023). Your failure to submit your Proof of Claim by June 20, 2023, will subject your claim to rejection and preclude your receiving any of the recovery in connection with the settlement of this Litigation. If you purchased or acquired Miller Energy’s Series C and/or Series D Preferred Stock on or after February 13, 2013, and do not request exclusion from the Settlement Class, you will be bound by the Settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim.

If you have not received the Notice of Pendency of Class Action, Proposed Class Action Settlement, and Motion for Attorneys’ Fees and Expenses (“Notice”), you may obtain a copy by writing to Miller Energy Securities Litigation, c/o Gilardi & Co. LLC, P.O. Box 301134, Los Angeles, CA 90030-1134, or on the internet at www.MillerEnergySecuritiesLitigation.com.

If you are a Settlement Class Member and you desire to be excluded from the Settlement Class, you must submit a request for exclusion such that it is received no later than May 23, 2023, in the manner and form explained in the Notice. All Settlement Class Members who do not timely and validly request exclusion from the Settlement Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation and Agreement of Settlement. Any objection to the Settlement or the fee and expense application must be mailed to each of the following recipients, received no later than May 23, 2023:

  CLERK OF THE COURT
  THE CIRCUIT COURT FOR MORGAN COUNTY
  NINTH JUDICIAL DISTRICT
  IN THE STATE OF TENNESSEE
  Morgan County Courthouse
  415 North Kingston Street
  Wartburg, TN 37887
 
  Lead Counsel:
  ROBBINS GELLER RUDMAN
  & DOWD LLP
  ELLEN GUSIKOFF STEWART
  655 West Broadway, Suite 1900
  San Diego, CA 92101

PLEASE DO NOT CONTACT THE COURT, THE CLERK’S OFFICE, OR DEFENDANTS REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above or by email at settlementinfo@rgrdlaw.com.

DATED: March 8, 2023

BY ORDER OF THE COURT

THE CIRCUIT COURT FOR MORGAN COUNTY

NINTH JUDICIAL DISTRICT IN THE

STATE OF TENNESSEE

 

Contacts

Robbins Geller Rudman & Dowd LLP

Shareholder Relations Department

Greg Wood

(619) 231-1058

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