Significant Settlement Opportunity for Jernigan Capital Shareholders

Author: Owen Jenkins Updated: 09-13-2024 09:24 PM

Proposed Settlement for Jernigan Capital Shareholders

Holders of Jernigan Capital, Inc. common stock may be eligible for a proposed settlement resulting from a recent class action lawsuit. This development arises from the merger between Jernigan Capital and NextPoint Advisors, L.P. The settlement amount being discussed stands at $3,925,000.00, which could benefit those who held shares during a specific period surrounding the merger.

Eligibility and Class Information

To qualify for potential compensation, shareholders must have owned Jernigan Capital common stock from a certain range of dates, particularly from August 3, 2020, to November 6, 2020. This particular class comprises not only direct shareholders but also their respective successors and representatives. The proposed settlement aims to provide fair compensation to all eligible class members.

Details of the Settlement Hearing

A significant step in this process is the upcoming settlement hearing, which will be held via Zoom. The court will evaluate whether the proposed settlement should go ahead, considering its fairness and adequacy. This hearing is essential for those affected, as it will determine if the class members are entitled to the proposed funds and how those funds will be distributed among eligible shareholders.

What to Expect at the Hearing

At the hearing, Chancellor James R. Newsom III will oversee discussions about the proposed settlement. Class members are encouraged to participate and express any concerns or objections they may have regarding the distribution of funds or the overall settlement agreement. It's an opportunity for shareholders to make their voices heard and ensure their interests are respected.

Contact Information for Class Members

To assist shareholders in navigating this process, Monteverde & Associates PC and Kahn Swick & Foti, LLC serve as Co-Lead Counsel for this lawsuit. For those needing more information, affected individuals may reach out to these firms directly. They can provide necessary documents and further details about the legal proceedings.

Rights of Class Members

It's crucial for class members to understand the impact of this settlement on their rights. If the court approves the settlement, those who participated in the class action may forfeit their ability to pursue further claims related to this issue. Therefore, potential claimants should carefully consider their options and seek guidance if needed.

Frequently Asked Questions

What is the purpose of the proposed settlement?

The settlement aims to compensate shareholders of Jernigan Capital who held their shares during a specified time period surrounding the merger.

How will the settlement funds be distributed?

The settlement funds will be distributed per share to members of the class who meet the eligibility criteria, after deducting approved attorneys' fees and expenses.

When is the settlement hearing scheduled?

The settlement hearing is scheduled to take place via Zoom, where the court will review the proposed terms and seek to approve the settlement.

What should I do if I want to object to the settlement?

Class members who wish to object can do so either in writing or by appearing in person at the settlement hearing.

Who can I contact for more information?

For more details regarding the case and the settlement process, affected shareholders can contact the Co-Lead Counsel listed above for assistance.

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