SEATTLE, Feb. 1, 2021 /PRNewswire/ --
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF TEXAS
JOSEPH PRAUSE, Individually and on Behalf
TECHNIPFMC PLC, TORE HALVORSEN, and DIANNE B. RALSTON,
Case No. 4:17-cv-02368
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING;
AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES
AND REIMBURSEMENT OF LITIGATION EXPENSES
This notice is for all persons or entities that purchased or otherwise acquired TechnipFMC Common Stock in the United States, including but not limited to TechnipFMC Common Stock acquired through the merger of FMC Technologies SIS Limited and Technip S.A., between January 16, 2017 and July 24, 2017, inclusive (the "Settlement Class Period") and were injured (the "Settlement Class"). A complete list of the TechnipFMC Securities is available at www.TechnipFMCSecuritiesLitigation.com. and is set forth in the full printed notice of the settlement referred to below.
PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of Texas, that the above-captioned litigation (the "Action") has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that the Class Representative in the Action has reached a proposed settlement of the Action for $19,500,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on March 19, 2021 at 10:00 a.m., before the Honorable Alfred H. Bennett at the United States District Court for the Southern District of Texas, Courtroom 8C, Bob Casey United States Courthouse, 515 Rusk Avenue, Houston, TX 77002, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated December 13, 2020 (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Class Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. The Notice and Proof of Claim and Release Form ("Claim Form"), can be downloaded from the website maintained by the Claims Administrator, www.TechnipFMCSecuritiesLitigation.com. You may also obtain copies of the Notice and Claim Form by contacting the Claims Administrator at TechnipFMC Securities Litigation., c/o JND Legal Administration, P.O. Box 91369, Seattle, WA, 98111–0107, 1–877–545–0232.
If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than May 15, 2021. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than February 26, 2021, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Class Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Class Counsel and Defendants' Counsel such that they are received no later than February 26, 2021, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, TechnipFMC, or its counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Class Counsel or the Claims Administrator.
For any questions, visit www.TechnipFMCSecuritiesLitigation.com or call toll-free at (877) 545-0232
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
Jeremy A. Lieberman, Esq.
600 Third Avenue, 20th Floor
New York, NY 10016
Requests for the Notice and Claim Form should be made to:
TechnipFMC Securities Litigation
c/o JND Legal Administration
P.O. Box 91369
Seattle, WA 98111–0107
By Order of the Court
SOURCE JND Legal Administration