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Robbins Geller Rudman & Dowd LLP and Kahn Swick & Foti, LLC Announce Proposed Settlement in the Cleco Merger Litigation

By: Robbins Geller Rudman & Dowd LLP via Business Wire

December 21, 2023 at 08:00 AM EST

The following statement is being issued by Robbins Geller Rudman & Dowd LLP and Kahn Swick & Foti, LLC regarding the Cleco Merger Settlement:

NINTH JUDICIAL DISTRICT COURT FOR THE PARISH OF RAPIDES

STATE OF LOUISIANA

HELEN MOORE, et al., Individually and on Behalf of All Others Similarly Situated,		NO.: 251,417 c/w NOS. 251,456; 251,515; 252,446; 252,458; and 252,459

Plaintiffs,		DIVISION B

vs.

MACQUARIE INFRASTRUCTURE AND REAL ASSETS, et al.,

Defendants.

SUMMARY NOTICE

IF YOU OWNED CLECO CORPORATION (“CLECO”) COMMON STOCK, WHETHER BENEFICIALLY OR OF RECORD, AS OF JANUARY 13, 2015, AND VOTED AGAINST, ABSTAINED FROM VOTING, OR DID NOT VOTE ON PROPOSAL 1 ON THE PROXY STATEMENT ISSUED IN CONNECTION WITH THE FEBRUARY 26, 2015 SHAREHOLDER VOTE ON THE MERGER FOR $55.37 PER CLECO SHARE (THE “CLASS”), YOU COULD RECEIVE A PAYMENT FROM A CLASS ACTION SETTLEMENT. CERTAIN PERSONS ARE EXCLUDED FROM THE DEFINITION OF THE CLASS AS SET FORTH IN THE STIPULATION OF SETTLEMENT.

PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS MAY BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Article 591, et seq., of the Louisiana Code of Civil Procedure and by Order of the Ninth Judicial District Court for the Parish of Rapides, State of Louisiana, that in the above-captioned litigation (the “Action”), which is a certified consolidated class action, a Settlement has been proposed for $37,000,000.00 in cash. A hearing will be held on February 2, 2024, at 10:00 a.m., before the Honorable Lowell C. Hazel, at the Ninth Judicial District Court for the Parish of Rapides, State of Louisiana, 701 Murray Street, Alexandria, LA 71301, for the purpose of determining whether: (1) the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (2) the proposed Plan of Allocation for distribution of the Settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (3) the application of Class Counsel for the payment of attorneys’ fees and expenses and an award for Plaintiffs from the Settlement Fund, including interest earned thereon, should be approved.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THE ACTION, AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND. If you have not received a detailed Notice of Proposed Settlement of Class Action (the “Notice”) and a copy of the Proof of Claim and Release (“Proof of Claim”), you may obtain a copy of these documents by contacting the Claims Administrator: Cleco Merger Settlement, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 301171, Los Angeles, CA 90030-1171; info@ClecoMergerSettlement.com; 1-888-297-2017. You may also obtain copies of the Stipulation of Settlement, Notice, and Proof of Claim at www.ClecoMergerSettlement.com.

If you are a Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim by mail postmarked no later than March 6, 2024, or submit it online by that date. If you are a Class Member and do not submit a valid Proof of Claim, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will still be bound by any judgment entered by the Court in this Action (including the releases provided for therein).

If you are a Class Member, you will be bound by any judgment entered by the Court in this Action (including the releases provided for therein) whether or not you submit a Proof of Claim. If you previously excluded yourself from the Class, you will have no right to recover money pursuant to the Settlement.

Any objection to the Settlement, the Plan of Allocation, Class Counsel’s request for attorneys’ fees and expenses, and Plaintiffs’ request for a service award (if any) must be received by each of the following recipients no later than January 12, 2024:

Clerk of the Court

Ninth Judicial District Court for the Parish of Rapides

State of Louisiana

701 Murray Street, Suite 501

Alexandria, LA 71301

Class Counsel:

Robbins Geller Rudman & Dowd LLP

David A. Knotts

655 West Broadway, Suite 1900

San Diego, CA 92101

-or-

Kahn Swick & Foti, LLC

Michael J. Palestina

1100 Poydras Street, Suite 960

New Orleans, LA 70163

Defendant’s Counsel:

Hunton Andrews Kurth LLP

Johnathon E. Schronce

951 East Byrd Street

Richmond, VA 23219

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Class Counsel at the addresses listed above.