Claims Administrator Angeion Group Announces a Proposed Class Action Settlement In RE Mammoth Energy Services, Inc. Securities Litigation, Case No. 5-19-cv-00522-J

Jun 21, 2021 12:43 PM ET

Legal Newswire POWERED BY LAW.COM

To all persons and entities who, during the period between October 19, 2017 and June 5, 2019, inclusive, purchased or otherwise acquired Mammoth Energy Services, Inc. common stock and were injured thereby (the "Settlement Class"):


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


YOU ARE HEREBY NOTIFIED, that the Court-appointed Lead Plaintiffs, on behalf of themselves and the Settlement Class, have reached a proposed settlement of the above-captioned litigation (the "Action") for $11,000,000 in cash that, if approved, would resolve all claims in the Action (the Settlement"). Defendants have denied the claims asserted against them and have agreed to the Settlement solely to eliminate the burden and expense of continued litigation.


YOU ARE HEREBY FURTHER NOTIFIED, that the Action has been preliminarily certified as a class action, and that pursuant to an Order of the Honorable Bernard M. Jones in the United States District Court for the Western District of Oklahoma (the "Court"), dated May 4, 2021, a hearing will be held on September 21, 2021 at 10:a.m, (the "Settlement Hearing") before Judge Jones at the United States District Court for the Western District of Oklahoma,  200 NW 4th Street, Oklahoma City, OK 73102, Courtroom 303, to determine: (a) whether the proposed Settlement on the terms and conditions provided for in the Stipulation is fair, reasonable and adequate to the Settlement Class, and should be approved by the Court; (b) whether a judgment should be entered dismissing the Action with prejudice against the Defendants; (c) whether the Proposed Plan of Allocation should be approved as fair and reasonable; and (d) whether Lead Counsel's motion for attorneys' fees and reimbursement of expenses should be approved.


If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. The Notice and Proof of Claim and Release Form ("Claim Form") can be downloaded from the website maintained by the Claims Administrator, www.MammothSecuritiesSettlement.com. You may also obtain copies of the Notice and Claim Form by contacting the Claim Administrator at Mammoth Securities Litigation c/o Claims Administrator, 1650 Arch Street, Suite 2210, Philadephia, PA 19103, [email protected], (844) 489-3884.


If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than October 30, 2021. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.


If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than August 31, 2021, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.


Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than August 31, 2021, in accordance with the instructions set forth in the Notice.


Please do not contact the Court, the Clerk's office, Mammoth or its counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.


Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:


Block & Leviton LLP
Attn: Jacob A. Walker
260 Franklin Street, Suite 1860
Boston, MA 02110
Telephone: (617) 398-5617
Email: [email protected]


Requests for the Notice and Claim Form should be made to:


Mammoth Securities Litigation
c/o Claims Administrator
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
Telephone: (844) 489-3884
Email: [email protected]
www.MammothSecuritiesSettlement.com


BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF OKLAHOMA


Media Contact:


Angeion Group
Douglas S. Clauson
Director, Communications
(215) 563-4116


Tags: Wire, Classaction-Marketing, Legal Newswire, United States, English