UPDATE April 2023
Due to the complexities of securities cases, claims processing takes a significant amount of time to ensure that all claims are processed accurately. This requires an in-depth review of every claim and supporting document submitted.
Claims for this case have been reviewed for deficient conditions, and a FIRST WAVE of letters and emails regarding deficiencies and denials have been sent.
We are currently in the process of reviewing all submitted claims to determine accuracy, completeness, and eligibility.
If action is needed on your part, you will receive a Notice of Deficient Condition via email from info@MammothSecuritiesSettlement.com.
This process can take between 2 to 4 months.
Please know we are working diligently to give each claim its due attention and review.
We appreciate your patience and understanding.
Important Dates
October 30, 2021 — Claim Filing Deadline
August 31, 2021 — Exclusion Deadline
August 31, 2021 — Objection Deadline
September 21, 2021 at 10:00 a.m. — Settlement Hearing
This Notice relates to a proposed Settlement of claims in a pending securities class action brought by investors alleging, among other things, that defendants Mammoth Energy Services, Inc. (“Mammoth”) Arty Straehla, Mark Layton, and Keith Ellison (collectively, the “Defendants”) violated the federal securities laws by making false and misleading statements relating to contracts between the Puerto Rico Electric Power Authority (“PREPA”) and an indirect Mammoth subsidiary, and related payments. A more detailed description of the Action is set forth on pages 4-6 below. The proposed Settlement, if approved by the Court, will settle claims of the Settlement Class, as defined on page 6 below.
| YOUR LEGAL RIGHTS AND OPTIONS IN THESE SETTLEMENTS | |
|---|---|
Submit a claim.
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This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Settlement Class Member and you remain in the Settlement Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiff’s Claims (defined below) that you have against Defendants and the other Defendants’ Releasees (defined below), so it is in your interest to submit a Claim Form. |
Exclude yourself.
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If you exclude yourself from the Settlement Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that allows you ever to be part of any other lawsuit against any of the Defendants or the other Defendants’ Releasees concerning the Released Plaintiff’s Claims. |
Object.
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If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation or the fee and expense request unless you are a Settlement Class Member and do not exclude yourself from the Settlement Class. |
Appear at a hearing.
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Filing a written objection and notice of Intention to Appear by August 31, 2021 allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and reimbursement of Litigation Expenses. If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection. |
Do nothing. |
If you are a member of the Settlement Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action. |