Scott+Scott Attorneys at Law LLP Announce a Notice of Proposed Settlement of Class Action in St. Lucie County Fire District Firefighters' Pension Trust v. Southwestern Energy Co., et al.

USA - English

• USA - English

NEW YORK, July 19, 2021 /PRNewswire/ --

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION

TO:     ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED SOUTHWESTERN ENERGY COMPANY ("SOUTHWESTERN" OR THE "COMPANY") DEPOSITARY SHARES PURSUANT OR TRACEABLE TO THE COMPANY'S JANUARY 16, 2015, REGISTRATION STATEMENT, AND WHO WERE ALLEGEDLY DAMAGED THEREBY.¹

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a remote hearing will be held on October 21, 2021, at 1:00 p.m., before the Honorable Fredericka Phillips at the 61st Judicial District Court of Harris County, Texas, 201 Caroline Street, 9th Floor, Houston, Texas 77002 for the purpose of determining whether: (i) the Settlement, as set forth in the Stipulation, for $7,000,000 in cash should be approved by the Court as fair, reasonable, and adequate; (ii) Judgment, as provided under the Stipulation, should be entered; (iii) to award Plaintiff's Counsel attorneys' fees and expenses out of the Settlement Fund and, if so, in what amount; (iv) to pay Plaintiff out of the Settlement Fund for its efforts in representing the Class and, if so, in what amount; and (v) the Plan of Allocation should be approved by the Court.  Details about how to access the Settlement Fairness Hearing will be posted on the website www.SouthwesternEnergySecuritiesLitigation.com once available.  Any updates and/or changes to the scheduling of the Settlement Fairness Hearing will be posted there as well.  The Court may adjourn or continue the Settlement Fairness Hearing without further notice to members of the Class. 

The Litigation is a consolidated securities class action, pursuant to Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 (the "Securities Act"), brought on behalf of those Persons who purchased or acquired Southwestern Depositary Shares pursuant or traceable to the Registration Statement, against Southwestern, certain of its officers and directors, and underwriters for the Offering (collectively, "Defendants") by reason of purportedly material untrue statements and omissions in the Company's Registration Statement, issued in connection with the Offering.  Plaintiff alleges that these purportedly false and misleading statements inflated the price of the Company's depositary shares, resulting in damage to Class Members when the truth was revealed.  Defendants deny all of Plaintiff's allegations.

IF YOU PURCHASED OR ACQUIRED SOUTHWESTERN DEPOSITARY SHARES on or AFTER JANUARY 16, 2015, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THE 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 October 12, 2021) or electronically (no later than October 12, 2021).  Your failure to submit your Proof of Claim by October 12, 2021, will subject your claim to rejection and preclude you from receiving any of the recovery in connection with the Settlement of the Litigation.  If you are a member of the Class and do not request exclusion from the Settlement, 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 a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), and a Proof of Claim, you may obtain these documents, as well as a copy of the Stipulation and other settlement documents, online at www.SouthwesternEnergySecuritiesLitigation.com, or by writing to:

Southwestern Securities Litigation Settlement
Claims Administrator
c/o A.B. Data, Ltd.
P.O. Box 173134
Milwaukee, WI  53217

Inquiries should NOT be directed to the Defendants, Court, or Clerk of the Court.  Inquiries, other than requests for the Notice or a Proof of Claim, may be made to Plaintiff's Counsel:

SCOTT+SCOTT ATTORNEYS AT LAW LLP
Randy L. Moonan
The Helmsley Building
230 Park Avenue, 17th Floor
New York, New York 10169

IF YOU WANT TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION THAT IS POSTMARKED BY SEPTEMBER 30, 2021, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.  ALL MEMBERS OF THE CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT A TIMELY PROOF OF CLAIM.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, PLAN OF ALLOCATION, REQUEST BY PLAINTIFF'S COUNSEL FOR AN AWARD OF ATTORNEYS' FEES AND EXPENSES, AND/OR AWARD TO LEAD PLAINTIFF FOR REPRESENTING THE CLASS.  ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO PLAINTIFF'S COUNSEL AND DEFENDANTS' COUNSEL BY SEPTEMBER 30, 2021, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

DATED: JULY 19, 2021                                 

BY ORDER OF THE 61ST JUDICIAL DISTRICT COURT OF HARRIS COUNTY, TEXAS, THE HONORABLE FREDERICKA PHILLIPS.

¹ For purposes of the Settlement only, the "Class" includes all Persons who purchased or otherwise acquired Southwestern Depositary Shares pursuant or traceable to the Registration Statement, and who were allegedly damaged thereby, unless excluded by the terms of the Stipulation.

SOURCE Scott+Scott Attorneys at Law LLP