LAFAYETTE, La., Jan. 27 /PRNewswire/ -- The following statement is being issued by the law firms Bernstein Litowitz Berger & Grossmann LLP and Barroway Topaz Kessler Meltzer & Check LLP regarding Stone Energy Corporation Securities Litigation.
UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF LOUISIANA
Civil Action No.
IN RE: STONE ENERGY CORP.
JUDGE TUCKER L. MELANCON
MAG. JUDGE PATRICK J. HANNA
TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED SHARES OF THE COMMON STOCK OF STONE ENERGY CORPORATION BETWEEN MAY 2, 2001, UP TO AND INCLUDING MARCH 10, 2006, AND WHO WERE DAMAGED THEREBY (THE "CLASS").
YOU ARE HEREBY NOTIFIED that the above-captioned action has been certified as a class action and that a settlement for Ten Million Five Hundred Thousand Dollars ($10,500,000) has been proposed. A hearing will be held before the Honorable Tucker L. Melancon in the United States District Court for the Western District of Louisiana, Lafayette-Opelousas Division, United States Courthouse, 800 Lafayette Street, Lafayette, LA 70501, Courtroom 3, at 1:30 p.m., on March 23, 2010 to determine whether: (1) the proposed Settlement should be approved by the Court as fair, reasonable and adequate; (2) the Plan of Allocation should be approved; (3) Co-Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved; and (4) the claims against Defendants should be dismissed with prejudice.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees and Expenses and Settlement Fairness Hearing (the "Notice") and Proof of Claim and Release form ("Proof of Claim"), you may obtain copies of these documents by contacting:
Stone Energy Corporation Securities Litigation
c/o The Garden City Group, Inc.
P.O. Box 9471
Dublin, OH 43017-4571
Inquiries, other than requests for the forms of the Notice and Proof of Claim, may be made to Co-Lead Counsel:
David R. Stickney, Esq.
Andrew L. Zivitz, Esq.
Bernstein Litowitz Berger & Grossmann LLP
Barroway Topaz Kessler Meltzer & Check, LLP
12481 High Bluff Drive, Suite 300
280 King of Prussia Road
San Diego, CA 92130
Radnor, PA 19087
To participate in the Settlement, you must submit a Proof of Claim no later than May 22, 2010. If you are a member of the Class and do not submit a valid Proof of Claim, you will not share in the Settlement but you nevertheless will be bound by the Judgment entered by the Court in this litigation. As more fully described in the Notice, the deadline for submitting objections and requests for exclusion is March 9, 2010.
Further information may also be obtained by directing your inquiry in writing to the Claims Administrator, The Garden City Group, Inc., at the address listed above.
By Order of the Court
SOURCE Bernstein Litowitz Berger & Grossmann LLP, Barroway Topaz Kessler Meltzer & Check, LLP