Proposed Settlement for Jernigan Capital Shareholders
If you hold common stock in Jernigan Capital, Inc., you might qualify for a proposed settlement stemming from a recent class action lawsuit. This situation arose from the merger between Jernigan Capital and NextPoint Advisors, L.P. The settlement amount under consideration is $3,925,000.00, which could potentially benefit those who owned shares during the specified timeframe around the merger.
Eligibility and Class Information
To be eligible for possible compensation, shareholders must have owned Jernigan Capital common stock between August 3, 2020, and November 6, 2020. This class includes direct shareholders, as well as their successors and representatives. The goal of the proposed settlement is to fairly compensate all members who qualify.
Details of the Settlement Hearing
A crucial part of this process is the upcoming settlement hearing, which will take place via Zoom. During this meeting, the court will assess whether the proposed settlement is fair and adequate. This hearing is vital for those affected, as it will decide if class members are entitled to the proposed funds and how these funds will be distributed among eligible shareholders.
What to Expect at the Hearing
Chancellor James R. Newsom III will lead the discussions at the hearing concerning the proposed settlement. Class members are strongly encouraged to join and voice any concerns or objections they may have about how funds will be distributed or the overall settlement agreement. This is a chance for shareholders to be heard and to ensure their interests are taken into account.
Contact Information for Class Members
To help shareholders navigate this process, Monteverde & Associates PC and Kahn Swick & Foti, LLC are serving as Co-Lead Counsel for the lawsuit. Those who need more information can reach out directly to these firms for assistance. They can provide necessary documents and additional details about the legal proceedings.
Rights of Class Members
It’s important for class members to grasp what this settlement means for their rights. If the court approves the settlement, individuals who participated in the class action might lose their right to pursue further claims related to this matter. Therefore, potential claimants should carefully weigh their options and seek guidance if they have questions.
Frequently Asked Questions
What is the purpose of the proposed settlement?
The settlement aims to provide compensation for shareholders of Jernigan Capital who held their shares during a specific time surrounding the merger.
How will the settlement funds be distributed?
The funds will be allocated per share to class members who meet the eligibility requirements, after deducting authorized attorneys' fees and expenses.
When is the settlement hearing scheduled?
The settlement hearing is set to occur via Zoom, where the court will evaluate the proposed terms and consider approval of the settlement.
What should I do if I want to object to the settlement?
Class members wishing to object can do so in writing or by appearing in person at the settlement hearing.
Who can I contact for more information?
Affected shareholders seeking more information about the case and the settlement process can reach out to the Co-Lead Counsel mentioned above for help.
