Scott+Scott Attorneys at Law LLP Announce a Notice of Pendency of Class Action and Proposed Settlement for the Jagged Peak Securities Litigation Settlement

NEW YORK, Sept. 25, 2023 /PRNewswire/ --

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT

To: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED JAGGED PEAK ENERGY INC.'S COMMON STOCK IN OR TRACEABLE TO THE COMPANY'S JANUARY 27, 2017 INITIAL PUBLIC OFFERING

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on December 15, 2023, at 12:00 p.m. M.T., before the Honorable Sarah B. Wallace, District Court, City and County of Denver in the State of Colorado, 1437 Bannock Street, Room 256, Denver, CO, 80202, to determine whether:  (i) the proposed Settlement of the above-captioned action (the "Action"), as set forth in the Stipulation of Settlement (the "Stipulation" or "Settlement"), for $8,250,000 in cash should be approved as fair, reasonable, and adequate;¹ (ii) the Judgment, as provided under the Stipulation, should be entered; (iii) the Plan of Allocation should be approved; (iv) to award Plaintiff's Counsel attorneys' fees and expenses out of the Settlement Fund, and, if so, in what amount; and (v) to award Plaintiff compensation for its efforts prosecuting the Action on behalf of the Class and, if so, in what amount.  Any changes to the hearing date and time will be published on www.JaggedPeakSecuritiesSettlement.com.

The Action is a securities class action brought on behalf of all persons and entities who purchased or otherwise acquired Jagged Peak Energy Inc.'s common stock in the Company's January 27, 2017 initial public offering ("IPO") against Jagged Peak Energy Inc., certain of its officers and directors, and underwriters of the IPO for, among other things, allegedly making materially untrue and misleading statements in the Registration Statement and Prospectus filed with the U.S. Securities and Exchange Commission in connection with the IPO.  Plaintiff alleges that these purportedly untrue and misleading statements inflated the price of the Company's stock, resulting in damages to Settlement Class Members² when the truth was revealed.  Defendants deny all of Plaintiff's allegations.

IF YOU PURCHASED OR ACQUIRED JAGGED PEAK ENERGY INC. COMMON STOCK IN, OR TRACEABLE TO, THE JANUARY 27, 2017 IPO, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THE ACTION. 

To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim form ("Proof of Claim") by mail (postmarked no later than December 12, 2023) or electronically (no later than December 12, 2023).  Your failure to submit your Proof of Claim by December 12, 2023, will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of the Action.  If you are a member of the Settlement Class and do not request exclusion therefrom, you will be bound by the Settlement and the Judgment and releases entered in the Action whether or not you submit a Proof of Claim.

If you have not yet received the Notice, which more completely describes the Settlement and your rights thereunder (including your rights to object to the Settlement or exclude yourself from the Settlement Class), and a Proof of Claim, you may obtain these documents, as well as a copy of the Stipulation and other settlement documents, online at www.JaggedPeakSecuritiesSettlement.com, or by writing to:

Jagged Peak Securities Litigation Settlement
Claims Administrator
c/o A.B. Data Ltd.
P.O. Box 173136
Milwaukee, WI  53217
(877) 777-9635

Inquiries should NOT be directed to the Defendants, Court, or Clerk of the Court.  Inquiries, other than requests for the Notice or a Proof of Claim, may be made to Plaintiff's Counsel:

SCOTT+SCOTT ATTORNEYS AT LAW LLP
Deborah Clark-Weintraub, Esq.
230 Park Avenue, 17th Floor
New York, NY 10169
www.scott-scott.com
(800) 404-7770

IF YOU DESIRE TO BE EXCLUDED FROM THE SETTLEMENT CLASS, YOU MUST SUBMIT A WRITTEN REQUEST FOR EXCLUSION IN ACCORDANCE WITH THE INSTRUCTIONS SET FORTH IN THE NOTICE SUCH THAT IT IS POSTMARKED NO LATER THAN NOVEMBER 13, 2023.  ALL MEMBERS OF THE SETTLEMENT CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE SETTLEMENT CLASS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT A TIMELY PROOF OF CLAIM.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PROPOSED PLAN OF ALLOCATION, REQUEST BY PLAINTIFF'S COUNSEL FOR AN AWARD OF ATTORNEYS' FEES AND EXPENSES, AND REQUEST BY PLAINTIFF FOR COMPENSATION FOR ITS EFFORTS PROSECUTING THE ACTION ON BEHALF OF THE SETTLEMENT CLASS.  ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO PLAINTIFF'S COUNSEL AND DEFENDANTS' COUNSEL BY NOVEMBER 13, 2023, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

SOURCE Scott+Scott Attorneys at Law LLP