Angeion Group Announces Settlement In Class Action Lawsuit Involving EQT Production Company

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Sep 23, 2019, 16:25 ET

PHILADELPHIA, Sept. 23, 2019 /PRNewswire/ -- Angeion Group announced that a settlement has been reached in a class action lawsuit involving lease holders of certain oil and gas leases with EQT Production Company.

You may be entitled to compensation from a class action settlement involving EQT Production Company, formerly known as Equitable Production Company ("EQT") which alleged EQT improperly withheld Kentucky severance taxes from royalty payments during the class period. The lawsuit is in the United States District Court for the Eastern District of Kentucky and is Appalachian Land Company v. EQT Production Company, Case No. 7:08-00139. The Court decided this lawsuit should be a class action on behalf of a "Class" or group of people that could include you. The parties have reached a settlement agreement and you are likely entitled to compensation.

Are you Affected?

The lawsuit includes persons who during the period of January 1, 1995, through July 31, 2016, were lessors on oil and gas leases with EQT, or its predecessors in title, covering lands in Kentucky, which obligate the lessee to pay royalties on gas produced from wells at a rate of one-eighth of the market price received at the wellhead and which leases do not authorize the deduction of the severance taxes and have not accepted reimbursement for withheld severance taxes during the class period.

What is the Case About?

The lawsuit claims that EQT improperly withheld Kentucky severance taxes from royalty payments during the class period. The Settlement provides for creation of a settlement fund from which Class Members may be paid. EQT denies all the claims and allegations in the lawsuit. The Settlement was reached through negotiations and compromise.

What Are Your Rights and Options?

You have a choice about whether to stay in the Class or not. To be compensated, you must submit a claim form by August 24, 2020. Claim forms can be found on the website below. If you fill out a claim, the Settlement Administrator will determine whether you qualify for compensation and the amount. If you do nothing, you are choosing to stay in the Class which means you will be legally bound by all orders and judgments of the Court and you will not be able to sue EQT about the legal claims in this case, but you will not receive compensation. If you do not want to stay in the Class, you must submit a request for exclusion. If you exclude yourself, you cannot get any money or benefits from this lawsuit, but you will keep any rights to sue EQT for the same claims in a different lawsuit, now or in the future. If you exclude yourself, you will not be bound by any orders or judgments in this case. If you wish to object to this settlement, you may do so. To ask to be excluded or to object, you must mail a written request for exclusion to the Settlement Administrator, to the address below, postmarked by December 20, 2019. Your letter must state that you object or want to be excluded from Appalachian Land Company v. EQT Production Company, Case No. 7:08-00139 and include your name, address, telephone number, and signature.

How Can You Get More Information?

Visit the website www.EQTOilAndGasRoyaltiesSettlement.com, or contact the Settlement Administrator by emailing [email protected], by calling toll-free (844) 931-1024 or by writing to Appalachian Land Co. v. EQT Production Co. Settlement Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103.

Media Contact:
Angeion Group
Douglas S. Clauson
Director, Communications
(215) 563-4116

SOURCE Angeion Group