Berman Tabacco Announces Pendency of Class Action For All Those Who Purchased or Otherwise Acquired Aegean Marine Petroleum Network, Inc. Securities or Sold Aegean Put Options Between February 27, 2014 through November 5, 2018 Inclusive

SAN FRANCISCO, June 19, 2023 / PR Newswire--

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SUMMARY Notice of (I) Pendency of Class Action and Proposed Individual Defendants Settlements; and (II) Final Approval Hearing For The Individual Defendants Settlements, The Individual Defendants Plan of Allocation and Motion For Approval of Attorneys' Fees and Reimbursement of Litigation Expenses 

TO: All Persons who purchased or otherwise acquired Aegean Marine Petroleum Network, Inc. ("Aegean") securities or sold Aegean put options between February 27, 2014 through November 5, 2018, inclusive (the "Settlement Class Period"), and were allegedly damaged thereby. 

The securities subject to these proposed settlements consist of: (a) the common stock of Aegean (Tickers: ANWWQ; CINS: Y0017S102) (pre-bankruptcy Aegean traded under the ticker "ANW"); (b) Aegean 4.00% Convertible Unsecured Senior Notes due 11/1/2018, issued 10/23/2013 (CUSIP: Y0020QAA9; ISIN: USY0020QAA95); (c) Aegean 4.25% Convertible Unsecured Senior Notes due 12/15/2021, issued 12/19/2016 (CUSIP: 00773VAA4 (CUSIP changed to 00773VAB2 on 2/12/2018); ISIN: US00773VAB27); (d) Aegean call options; and (e) Aegean put options (collectively, "Aegean Securities").

Please read this notice carefully.  Your rights may be affected by two proposed partial settlements, which are the third and fourth proposed partial settlements of a class action lawsuit pending in this court.  Please do not contact the court, any defendant, or their counsel, regarding this notice.  All questions about this notice, these proposed settlements, or your eligibility to participate in these proposed settlements should be directed to lead counsel or the claims administrator, whose contact information is provided below.  Additional information about the proposed settlements is available on the Settlement Website: www.aegeansecuritieslitigation.com.

YOU ARE HEREBY NOTIFIED, that Utah Retirement Systems ("Lead Plaintiff"), on behalf of itself and the proposed Settlement Class, has reached two additional proposed settlements (one with Spyros Gianniotis ("Gianniotis") for $11 million in cash and one with Dimitris Melissanidis ("Melissanidis") for $949,999 in cash) that will, among other things, resolve all claims against the two remaining Defendants in this Action, Gianniotis and Melissanidis (the "Individual Defendants") (the "Individual Defendants Settlements") if approved. The Court previously approved settlements with the outside auditors (the "Auditor Settlements"). 

YOU ARE ALSO NOTIFIED, that pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, a Settlement Class in the above-captioned litigation (the "Action") has been preliminarily certified for the purposes of these proposed Individual Defendants Settlements only. 

A hearing (the "Final Approval Hearing") will be held before the Honorable Naomi Reice Buchwald, United States District Judge for the United States District Court for the Southern District of New York, either telephonically, via video conference, or at 500 Pearl Street, Courtroom 21-A, New York, New York, 10007 on Thursday, October 19, 2023 at 11:00 AM to, among other things, determine whether: (i) the proposed Individual Defendants Settlements should be approved by the Court as fair, reasonable and adequate; (ii) the Action should be dismissed with prejudice against Gianniotis, final judgment should be entered as to the claims against Gianniotis and the Gianniotis Released Claims should be released as against the Gianniotis Released Parties, as set forth in the Stipulation and Agreement of Settlement with Spyros Gianniotis ("Gianniotis Stipulation"); (iii) the Action should be dismissed with prejudice against Melissanidis, final judgment should be entered as to the claims against Melissanidis and the Melissanidis Released Claims should be released as against the Melissanidis Released Parties, as set forth in the Stipulation and Agreement of Settlement with Dimitris Melissanidis ("Melissanidis Stipulation"); (iv) the proposed Individual Defendants Plan of Allocation for distribution of the Individual Defendants Settlement Funds and any interest earned thereon, less Taxes, Notice and Administration Costs, Litigation Expenses awarded by the Court, attorneys' fees awarded by the Court, and any other costs, expenses, or amounts as may be approved by the Court (the "Net Settlement Fund") should be approved as fair and reasonable; and (v) whether Lead Counsel's application for attorneys' fees and reimbursement of Litigation Expenses should be approved by the Court.  The Court may change the date of the Final Approval Hearing without providing another notice.  You do NOT need to attend the Final Approval Hearing in order to receive a distribution from the Gianniotis Net Settlement Fund and/or the Melissanidis Net Settlement Fund.

You may be a member of the Settlement Class if you purchased or acquired Aegean Securities between February 27, 2014 And November 5, 2018.  If you are a Settlement Class Member, you may seek to participate to share in the Individual Defendants Settlements by submitting a Proof of Claim and Release Form ("Claim Form") to the Claims Administrator at the address below.  If you are a Settlement Class Member but do not file a Claim Form, you will still be bound by the releases set forth in the Gianniotis Stipulation if the Court enters an order approving the Gianniotis Settlement and/or the releases set forth in the Melissanidis Stipulation if the Court enters an order approving the Melissanidis Settlement.

ANY CLAIM FORMS ALREADY SUBMITTED IN THE AUDITOR SETTLEMENTS WILL BE AUTOMATICALLY CONSIDERED FOR RECOVERY IN THE INDIVIDUAL DEFENDANTS SETTLEMENTS AND DO NOT NEED TO BE RE-SUBMITTED. The full notice, entitled the Notice of (I) Pendency of Class Action and Proposed Individual Defendants Settlements; and (II) Final Approval Hearing For The Individual Defendants Settlements, The Individual Defendants Plan of Allocation and Motion For Approval of Attorneys' Fees and Reimbursement of Litigation Expenses ("Detailed Notice"), and the Claim Form, are each available on the Settlement Website www.aegeansecuritieslitigation.com, or by contacting the Claims Administrator:

In re Aegean Marine Petroleum Network, Inc. Securities Litigation
Claims Administrator
c/o A.B. Data, Ltd.
P.O. Box 173088
Milwaukee, WI 53217
1-877-888-9760 (Toll-Free)

Please refer to the Settlement Website for more detailed information and to review the documents pertaining to the proposed Individual Defendants Settlements. Inquiries may also be made to Lead Counsel:

Nicole Lavallee
BERMAN TABACCO
425 California Street, Ste. 2300
San Francisco, CA 94104
Telephone: (415) 433-3200
[email protected]

If you are a potential Settlement Class Member, but wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Detailed Notice, which can also be found on the Settlement Website, postmarked no later than September 28, 2023. If you are a potential Settlement Class Member and do not timely exclude yourself from the Settlement Class, you will be bound by any judgments or orders entered by the Court in the Action. Note: The deadline to submit a request for exclusion to the Auditor Settlements has passed. Any new requests for exclusion will only apply to the Individual Defendants Settlements.

Any objections to the proposed Individual Defendants Settlements, the Individual Defendants Plan of Allocation, and/or Lead Counsel's application for attorneys' fees and reimbursement of Litigation Expenses must be submitted to the Court in accordance with the instructions set forth in the Detailed Notice, received no later than September 28, 2023 and filed with the Court no later than September 28, 2023.  Note: The deadline to object to the Auditor Settlements has passed.  Any new objections will only apply to Gianniotis's or Melissanidis's Settlements.

SOURCE Berman Tabacco