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On August 21, 2023, the Court preliminarily approved a Settlement in the Litigation between Plaintiff, on behalf of itself and the Settlement Class, and Defendant. This approval and this website are not an expression of opinion by the Court as to the merits of any of the claims or defenses asserted by any of the Parties to the Litigation, or of whether the Court will ultimately approve the Settlement Agreement.
In settlement of all claims alleged in the Litigation, Defendant has agreed to pay Four Hundred Seventy-Five Thousand Dollars ($475,000) in cash (“Gross Settlement Fund”). In exchange for the payment noted above and other consideration outlined in the Settlement Agreement, the Settlement Class shall release the Released Claims (as defined in the Settlement Agreement available for review and download on the Documents section of this website) against the Released Parties (as defined in the Settlement Agreement). The $475,000 cash payment is referred to as the “Gross Settlement Fund.” The Gross Settlement Fund, less Plaintiff's Attorneys’ Fees and Litigation Expenses and Administration, Notice, and Distribution Costs, and other costs approved by the Court (the “Net Settlement Fund”), will be distributed to final Class Members pursuant to the terms of the Settlement Agreement. The Settlement Agreement also includes Future Benefits for the Settlement Class.
Plaintiff's Counsel intends to seek an award of Plaintiff's Attorneys’ Fees of not more than 35% of the Gross Settlement Fund. Co-Lead Plaintiff's Counsel, David R. Gleason of Moricoli Kellogg & Gleason, PC, and Randy C. Smith, of Randy C. Smith PLLC have been litigating this case without any payment whatsoever, advancing thousands of dollars in Litigation Expenses. At the Final Fairness Hearing, Plaintiff’s Counsel will also seek reimbursement of the Litigation Expenses and Administration, Notice, and Distribution Costs incurred in connection with the prosecution of this Litigation and that will be incurred through final distribution of the Settlement, which is estimated to be approximately $55,000. In addition, Plaintiff intends to seek a Case Contribution Award for its representation of the Settlement Class, which amount will not exceed $12,000, to compensate Plaintiff for her time, expense, risk and burden as serving as Class Representative.
The Court must approve the Allocation Methodology, which describes how the Settlement Administrator will allocate the Net Settlement Fund. The Net Settlement Fund will be distributed by the Settlement Administrator after the Effective Date of the Settlement. The Effective Date requires the exhaustion of any appeals, which may take a year or more after the entry of Judgment. The Settlement may be terminated on several grounds, including if the Court does not approve or materially modifies the terms of the Settlement. If the Settlement is terminated, the Litigation will proceed as if the Settlement had not been reached.
This website does not and cannot set out all the terms of the Settlement Agreement, which is available for review on the Documents section of this website. This website will also include the Notice, the Plan of Allocation, and Plaintiff’s Counsel’s application for Plaintiff's Attorneys’ Fees and Litigation Expenses and other costs. You may also receive information about the progress of the Settlement by visiting the Contact section of this website, or by contacting the Settlement Administrator at the address set forth below.
The Final Fairness Hearing will be held on November 14, 2023, beginning at 9:30 a.m. CT, before the Honorable Jill Weedon, District Court Judge, at the Roger Mills County Courthouse, 500 East Broadway, Cheyenne, Oklahoma 73628. Please note that the date of the Final Fairness Hearing is subject to change without further notice. You should check with the Court and this website to confirm no change to the date and time of the hearing has been made. At the Final Fairness Hearing, the Court will consider: (a) whether the Settlement is fair, reasonable, and adequate; (b) any timely and properly raised objections to the Settlement; (c) the Allocation Methodology; (d) the application for Plaintiff's Attorneys' Fees and Litigation Expenses and Administration, Notice, and Distribution Costs; and (e) the application for a Case Contribution Award for the Class Representative.
A CLASS MEMBER WHO WISHES TO PARTICIPATE IN THE SETTLEMENT AND DOES NOT SUBMIT A VALID REQUEST FOR EXCLUSION DOES NOT NEED TO APPEAR AT THE FINAL FAIRNESS HEARING OR TAKE ANY OTHER ACTION TO PARTICIPATE IN THE SETTLEMENT.
A. You Can Participate in the Settlement Class by Doing Nothing
By taking no action, your interests will be represented by Plaintiff as the Class Representative and Plaintiff’s Counsel. The Court has been requested to approve a Plan of Allocation which provides that no distributions will be made to any Class Member who would otherwise receive a distribution of $5.00 or less. As a Class Member, you will be bound by the outcome of the Settlement, if finally approved by the Court. Any Judgment entered in this action, whether favorable or not, will include all Class Members who do not request exclusion. The Class Representative and Plaintiff’s Counsel believe that the Settlement is in the best interest of the Class Members, and, therefore, they intend to support the proposed Settlement at the Final Fairness Hearing. As a Class Member, if you are entitled to a Distribution Check pursuant to the Allocation Methodology, you will receive your portion of the Net Settlement Fund, and you will be bound by the Settlement Agreement and all orders and judgments entered by the Court regarding the Settlement. If the Settlement is approved, unless you exclude yourself from the Settlement Class, neither you nor any other Releasing Party will be able to start a lawsuit or arbitration or be part of any other lawsuit against any of the Released Parties based on any of the Released Claims.
B. You May Submit a Request for Exclusion to Opt Out of the Settlement Class
If you do not wish to be a member of the Settlement Class, then you must exclude yourself from the Settlement Class by mailing by certified mail, return receipt requested, a Request for Exclusion to be received by October 24, 2023, at 5 p.m. CT. All Requests for Exclusion must include: (i) the Class Member’s name, address, telephone number, and signature; (ii) a statement that the Class Member wishes to be excluded from the Settlement Class in Suzanne Broadbent v. Presidio Petroleum LLC; and (iii) a description of the Class Member’s interest in any wells for which it has received payments from Defendant, including the name, well number, county in which the well is located, and the owner identification number. Requests for Exclusion must be served on Defendant’s Counsel and Plaintiff’s Counsel by certified mail, return receipt requested and received no later than 5 p.m. CT on October 24, 2023. Requests for Exclusion must be mailed as follows:
Randy C Smith, OBA #21824
RANDY C. SMITH PLLC
One Leadership Square, Suite 1310
211 North Robinson Ave
Oklahoma City, OK 73102
David R. Gleason
Moricoli Kellogg & Gleason PC
211 N. Robinson
One Leadership Square, St. 1350N
Oklahoma City, OK 73102
Terry D. Ragsdale
Bradley W. Welsh
110 North Elgin Ave., Suite 200
Tulsa, OK 74120
If you do not follow these procedures—including mailing the Request for Exclusion so that it is received by the deadline set out above—you will not be excluded from the Settlement Class, and you will be bound by all of the orders and Judgments entered by the Court regarding the Settlement, including the Released Claims. You cannot exclude yourself on the website, by telephone, facsimile, or by email. If you validly request exclusion as described above, you will not receive any distribution from the Net Settlement Fund, you cannot object to the Settlement, and you will not have released any claim against the Released Parties. You will not be legally bound by anything that happens in the Litigation.
C. You May Remain a Member of the Settlement Class, but Object to the Settlement, Allocation Methodology, Plan of Allocation, Plaintiff’s Attorneys’ Fees, Litigation Expenses, or Case Contribution Award
Any Class Member who wishes to object to the fairness, reasonableness, or adequacy of the Settlement, any term of the Settlement, the Allocation Methodology, the Plan of Allocation, the request for Plaintiff’s Attorneys’ Fees and Litigation Expenses, and Administration, Notice, and Distribution Costs, or the request for a Case Contribution Award to Class Representative may file an objection. An objector must file with the Court and serve upon Plaintiff's and Defendant’s Counsel a written objection containing the following: (a) a heading referring to Suzanne Broadbent v. Presidio Petroleum LLC, Case No. CV-2022-15, in the District Court of Roger Mills County, Oklahoma; (b) a statement as to whether the objector intends to appear at the Final Fairness Hearing, either in person or through counsel, and, if through counsel, counsel must be identified by name, address, and telephone number; (c) a detailed statement of the specific legal and factual basis for each and every objection; (d) a list of any witnesses the objector may call at the Final Fairness Hearing, together with a brief summary of each witness’s expected testimony (to the extent the objector desires to offer expert testimony and/or an expert report, any such evidence must fully comply with the Oklahoma Evidence Code and the Local Rules of the Court); (e) a list of and copies of any exhibits the objector may seek to use at the Final Fairness Hearing; (f) a list of any legal authority the objector may present at the Final Fairness Hearing; (g) the objector’s name, current address, current telephone number, and all owner identification numbers with Defendant; (h) the objector’s signature executed before a Notary Public; (i) identification of the objector’s interest in wells for which Defendant remitted oil and gas proceeds (by well name, payee well number, and county in which the well is located) during the Claim Period and identification of any payments by date of payment, date of production, and amount; and (j) if the objector is objecting to any portion of the Plaintiff’s Attorneys’ Fees or Litigation Expenses, and Administration, Notice, and Distribution Costs, or a Case Contribution Award sought by Class Representative or Plaintiff's Counsel on the basis that the amounts requested are unreasonably high, the objector must specifically state the portion of such requests he/she/it believes is fair and reasonable and the portion that is not. Such written objections must be filed with the Court and served on Plaintiff’s Counsel and Defendant’s Counsel, via certified mail return receipt requested, and received no later than 5 p.m. CT by October 24, 2023, at the addresses set forth above. Any Class Member that fails to timely file the written objection statement and provide the required information will not be permitted to present any objections at the Final Fairness Hearing. Your written objection must be timely filed with the Court at the address below:
This website summarizes the Settlement Agreement, which sets out all of its terms. You may obtain a copy of the Settlement Agreement with its exhibits, as well as other relevant documents, from the settlement website for free, or you may request copies by contacting the Settlement Administrator as set forth above. In addition, the pleadings and other papers filed in this Action, including the Settlement Agreement, are available for inspection in at the Office of the Court Clerk, set forth above, and may be obtained by the Clerk’s office directly. The records are also available on-line for free via www.oscn.net. If you have any questions about this website, you may consult an attorney of your own choosing at your own expense or Plaintiff's Counsel.
PLEASE DO NOT CONTACT THE JUDGE OR THE COURT CLERK ASKING FOR INFORMATION REGARDING THIS WEBSITE.