Entwistle & Cappucci LLP Announce Proposed Settlements in the Dynagas LNG Partners LP Securities Litigation

NEW YORK, July 16, 2021 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

TO:  All persons and entities who purchased or otherwise acquired the securities of Dynagas LNG Partners LP ("Dynagas"), purchased or otherwise acquired call options on Dynagas securities, or sold or otherwise transferred put options on Dynagas securities during the period from December 21, 2017 through March 21, 2019, inclusive (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, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that the above-captioned litigation (the "Action") has been provisionally certified as a class action for settlement purposes only on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full printed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").

YOU ARE ALSO NOTIFIED that Plaintiffs in the Action have reached a proposed settlement of the Action for $4,500,000 in cash (the "Settlement") to be paid on Defendants' behalf, that, if approved, will resolve all claims in the Action. 

A hearing will be held on November 5, 2021, at 10:00 a.m., before the Honorable Alison J. Nathan at the United States District Court for the Southern District of New York, Thurgood Marshall U.S. Courthouse, 40 Centre Street, Courtroom 906, New York, New York 10007, to determine whether:  (i) the proposed Settlement should be approved as fair, reasonable and adequate; (ii) the Action should be dismissed with prejudice against Defendants and the Releases specified and described in the Stipulation and Agreement of Settlement dated May 21, 2021 (and in the Notice) should be granted; (iii) the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) Lead Counsel's application for an award of attorneys' fees and reimbursement of litigation 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.  If you have not yet received the Notice and claim form ("Claim Form"), you may obtain copies of these documents by contacting the Claims Administrator at In re Dynagas LNG Partners LP Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173132, Milwaukee, WI 53217, Telephone: (877) 235-9861, Email:  [email protected].  Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.DynagasSecuritiesLitigation.com. 

If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must either:  (1) submit a Claim Form by First-Class Mail, addressed in accordance with the instructions thereon and postmarked no later than November 5, 2021; or (2) if specifically permitted by the Claims Administrator, submit all required information electronically in accordance with the Claims Administrator's instructions no later than November 5, 2021.  If you are a member of the Settlement Class 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 October 15, 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 litigation expenses must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than October 15, 2021, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk's office, the Defendants or their 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: Andrew J. Entwistle, Esq. and Robert N. Cappucci, Esq., ENTWISTLE & CAPPUCCI LLP, 230 Park Avenue, 3rd Floor, New York, NY 10169, Telephone:  (212) 894-7200, Facsimile: (212) 894-7272, Email: [email protected] and [email protected].  Requests for the Notice and Claim Form should be made to: In re Dynagas LNG Partners LP Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173132, Milwaukee, WI 53217, Telephone: (877) 235-9861, Email: [email protected].  Additional information may be made available at the website maintained by the Claims Administrator: www.DynagasSecuritiesLitigation.com.

                                                                                                                        By Order of the Court

Source: Entwistle & Cappucci LLP

SOURCE Entwistle & Cappucci LLP

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED