Oil & Gas News

Citation Oil and Gas Corp. Royalty Owner Proposed Class Action Settlement

Citation Oil and Gas

SEATTLE, Oct. 12, 2018 /PRNewswire/ — JND Class Action Administration – Citation Oil and Gas Corp.

The Settlement Class includes:

All non-excluded owners of a Royalty Interest in Oklahoma wells with respect to whom Citation paid or incurred an obligation to pay proceeds derived from the sale of oil, gas and/or other minerals occurring from the production month of January 1997 through and including the production month of March 2017; provided that excluded from the Settlement Class are those persons and entities listed on Appendix 1 to the Settlement Agreement.

The Litigation seeks damages for Defendant’s alleged failure to pay statutory interest on allegedly late payments under Oklahoma law.  Defendant expressly denies all allegations of wrongdoing or liability with respect to the claims and allegations in the Litigation.  The Court did not decide which side is right.

On September 21, 2018, the Court preliminarily approved a Settlement in which Defendant has agreed to pay Three Million Dollars ($3,000,000.00) in cash (the “Gross Settlement Fund”).  From the Gross Settlement Fund, the Court may deduct Class Counsel’s Fees and Expenses, a case contribution award, and any settlement Administration, Notice, and Distribution Costs.  The remainder of the fund (the “Net Settlement Fund”) will be distributed to Final Class Members or credited to their suspense accounts as provided in the Settlement Agreement.  Complete information on the benefits of the Settlement, including information on the distribution of the Net Settlement Fund, can be found in the Settlement Agreement posted on the website listed below.  In exchange, Class Members will release Defendant and others identified in the Settlement Agreement from the claims described in the Settlement Agreement.

The attorneys and law firms who represent the Class as Class Counsel are: Reagan E. Bradford and W. Mark Lanier of The Lanier Law Firm, P.C., Daniel H. Charest of Burns Charest LLP, and Justin R. Landgrafof Hisey & Landgraf.  You may hire your own attorney, if you wish.  However, you will be responsible for that attorney’s fees and expenses.

What Are My Legal Rights?

Do Nothing, Stay in the Class, and Receive Benefits of the Settlement: If the Court approves the proposed Settlement, you or your successors, if eligible, will receive the benefits of the proposed Settlement.

Stay in the Settlement Class, But Object to All or Part of the Settlement: You can file and serve a written objection to the Settlement and appear before the Court.  Your written objection must contain the information described in the Notice of Settlement found at the website listed below and must be filed with the Court no later than December 3, 2018 at 5p.m. CST.

Exclude Yourself from the Settlement Class: To exclude yourself from the Settlement Class, you must file a written statement with the Court.  Your Request for Exclusion must contain the information described in the Notice of Settlement found at the website listed below and must be filed and received no later than November 19, 2018 at 5 p.m. CST.  You cannot exclude yourself on the website, by telephone, or by email.

The Court will hold a Final Fairness Hearing on January 14, 2019 at 10:00 a.m. CST at the United StatesDistrict Court for the Eastern District of Oklahoma, 101 North 5th Street, Muskogee, Oklahoma 74401.  At the Hearing, the Court will consider whether the proposed Settlement is fair, reasonable, and adequate.  The Court will also consider the application for Class Counsel’s Fees and Expenses, including a case contribution award.  If comments or objections have been submitted in the manner required, the Court will consider them as well.  Please note that the date of the Final Fairness Hearing is subject to change without further notice.  If you plan to attend the Hearing, you should check with the Court and www.citation-settlement.com to confirm no change to the date and time of the Hearing has been made.

This notice provides only a summary.  For more detailed information regarding the rights and obligations of Settlement Class Members, read the Notice of Settlement, Settlement Agreement and other documents posted on the website or contact the Settlement Administrator.

Visit:  www.citation-settlement.com
Call Toll-Free: 1-866-516-7671
Or write to:  McNeill v. Citation Settlement
c/o JND Legal Administration, Settlement Administrator
P.O. Box 91350
Seattle, WA 98111

 

SOURCE JND Class Action Administration

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