Settlement Notification for Ithaca Energy Limited Securities Class Action
Important Settlement Notification for Investors
Investors and stakeholders, please take a moment to review this important notice as it may significantly affect your rights and opportunities. If you purchased common shares of Ithaca Energy Limited, formerly known as Ithaca Energy Inc., on or after a specific date and held these shares through a significant period, this message is essential for you.
Details of the Notice
This notice is directed to all individuals and entities that purchased or acquired shares of Ithaca Energy Limited on or after a specific date and continued to hold these securities. If you identify with this description, you are considered part of the Class Members who will benefit from this notice.
Purpose of the Notification
The purpose is to inform Class Members regarding a class action settlement that has received approval from the appropriate judicial authority. This provides specific guidance on how to submit a claim to participate in the distribution process.
Class Action Overview
A class action was initiated on behalf of investors who acquired shares of Ithaca during a certain period. The allegations arose concerning misrepresentations about the company’s offshore oil and gas operations and projections for one of its key developments. While Ithaca denies any wrongdoing, the terms of settlement have been agreed upon.
Settlement Terms
The settlement includes a financial agreement whereby Ithaca’s insurers will contribute a substantial sum intended to resolve all claims associated with the class action. This amount, less legal fees, will be distributed among eligible Class Members as specified in the Plan of Allocation approved by the Court.
How to Submit a Claim
To participate in this settlement, each Class Member is required to present a completed Claim Form by a specified deadline. The forms can be conveniently accessed online or obtained by contacting the designated administrator for the settlement.
Claim Submission Details
Ensure your claim is submitted on time to benefit from the settlement agreement. Details for online submission will be provided, and alternative options are available if online access is lacking.
Contact Information for Inquiries
If you have any questions or require further clarification, please reach out to the designated attorneys involved in this class action settlement. Their contact details are clearly listed for your convenience.
Conclusion
This notice has been officially approved, and it’s vital that Class Members take prompt action to secure their rights. Any inquiries about this notice should not be directed to the court but rather to the proper channels as indicated.
Frequently Asked Questions
What is a Class Action Settlement?
A class action settlement is an agreement aimed at resolving claims of multiple individuals against a corporation or entity without going to trial.
Who qualifies as a Class Member?
Individuals who purchased shares of Ithaca Energy Limited during the specified time and held those shares are recognized as Class Members.
How do I participate in the settlement?
You need to submit a completed Claim Form by the given deadline to be eligible for compensation under the settlement.
What is the deadline for the claim submission?
Claims must be received by the specified deadline in order to participate in receiving compensation from the settlement.
Whom should I contact for more information?
For inquiries, Class Members should contact the lawyers representing them in the class action for more detailed information and support.
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