OKLAHOMA CITY, June 10, 2022 (GLOBE NEWSWIRE) — The Rosen Law Firm, P.A. announces that the United States District Court for the Western District of Oklahoma has approved the following announcement of a proposed partial class action settlement that would benefit purchasers of the common units of SandRidge Mississippian Trust I and Trust II (OTCMKTS: SDTTU) (OTCMKTS: SDRMU):
SUMMARY NOTICE OF PENDENCY AND PROPOSED PARTIAL CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED COMMON UNITS OF SANDRIDGE MISSISSIPPIAN TRUST I, BETWEEN APRIL 5, 2011 AND NOVEMBER 8, 2012, INCLUSIVE, AND WERE DAMAGED THEREBY, OR WHO PURCHASED OR OTHERWISE ACQUIRED COMMON UNITS OF SANDRIDGE MISSISSIPPIAN TRUST II BETWEEN APRIL 17, 2012 AND NOVEMBER 8, 2012, INCLUSIVE, AND WERE DAMAGED THEREBY (“SETTLEMENT CLASS PERIOD”).
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Western District of Oklahoma, that a hearing will be held on October 6, 2022, at 2:00 p.m., before the Honorable Charles Goodwin, at the United States District Court, Western District of Oklahoma, U.S. Courthouse, Courtroom 103, 200 N.W. 4th Street, Oklahoma City, OK 73102, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $13,942,500 should be approved by the Court as fair, reasonable, and adequate; (2) whether the release by Settlement Class Members of claims as set forth in the Stipulation and Agreement of Settlement dated November 16, 2021 (“Stipulation” or “Settlement Stipulation”) should be authorized; (3) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (4) whether the application of Plaintiffs’ Counsel for an award of attorneys’ fees of up to one third of the Settlement Amount, or $4,647,500, plus interest, reimbursement of expenses of not more than $1,750,000 and an award of no more than $61,000 to Lead Plaintiffs, should be approved; and (5) whether this Action should be dismissed with prejudice as set forth in the Settlement Stipulation. The Court reserves the right to hold the Settlement Hearing telephonically or by other virtual means.
If you purchased common units of either SandRidge Mississippian Trust I (“Trust I”) or SandRidge Mississippian Trust II (“Trust II,” and together with Trust I, “SandRidge Trusts”) during the Settlement Class Period, your rights will be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in common units of the SandRidge Trusts. If you have not received a detailed Notice of Pendency and Proposed Partial Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release Form, you may obtain copies by visiting the website: www.strategicclaims.net/SandRidge/ or by writing to, calling, or contacting the Claims Administrator: SandRidge Trusts Securities Settlement, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; [email protected]. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit to the Claims Administrator a Proof of Claim and Release Form electronically or postmarked no later than August 19, 2022, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.
If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than September 2, 2022, in the manner and form explained in the Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.
Any objection to the Settlement, Plan of Allocation, or Plaintiffs’ Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Plaintiffs must be in the manner and form explained in the detailed Notice and received no later than September 22, 2022, by each of the following:
|CLERK OF THE COURT:
United States District Court
Jonathan Horne, Esq.
J. Christian Word, Esq.
Mark P. Gimbel
If you have any questions about the Settlement, you may call or write to Plaintiffs’ Counsel:
Jonathan Horne, Esq.
THE ROSEN LAW FIRM, P.A.
275 Madison Avenue, 40th Floor
New York, New York 10016
Tel: (212) 686-1060
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
Dated: May 27, 2022
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
WESTERN DISTRICT OF OKLAHOMA