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Institutional Electronic Filing |
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Institutional Electronic Filing |
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How to Report a Change of Address |
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How to Report a Change of Address |
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How to Report a Change of Name |
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How to Report a Change of Name |
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CLASS NOTICE: On January 5, 2023, the Claims
Administrator conducted the initial distribution of settlement funds to
eligible claimants, as approved by the order of the Court. The information contained on
this web page is only a summary of information presented in more detail in the
Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness
Hearing; and (III) Motion for Award of Attorneys’ Fees and Reimbursement Litigation
Expenses (the “Notice”), which you can access by clicking here. Since this website is just a summary, you
should review the Notice for additional details.
Court-appointed settlement class representatives FNY Partners Fund LP
(“FNY”), Mario Epelbaum, Scott Dunlop and Irving Braun (collectively,
“Plaintiffs”), on behalf of themselves and the Settlement Class (as defined in ¶ 19 of the Notice), have entered into a stipulation of settlement with the thirteen
defendants named in the Action: Dynagas LNG Partners LP, Dynagas GP, LLC,
Dynagas Holdings Ltd. (“Dynagas Holding”), George J. Prokopiou, Tony Lauritzen,
Michael Gregos, Evangelos Vlahoulis, Alexios Rodopoulos, Levon A. Dedegian, UBS
Securities LLC, (“UBS”), Stifel, Nicolaus & Company, Incorporated
(“Stifel”), Morgan Stanley & Co. LLC (“Morgan Stanley”), and B. Riley FBR,
Inc. (“B. Riley” and collectively, the “Defendants”). The Settlement, if approved, will resolve all
claims in the Action. In total, the Settlement will provide $4.5 million in
cash in recovery to the Settlement Class, less fees and expenses.
If you are a member of the Class, your
rights will be affected and you may be eligible for a payment from the
Settlement unless you timely request to be excluded. The Class consists of:
all persons and entities who purchased
or otherwise acquired Dynagas securities, purchased or otherwise acquired call
options on Dynagas securities, or sold or otherwise transferred put options on
Dynagas securities during the period from December 21, 2017 through March 21,
2019, inclusive.
Excluded
from the Class by definition are certain persons and entities
(see paragraph 19 of the Notice) or those
who request exclusion pursuant to the instructions set forth in the Notice (see paragraphs 50 to 53 of the Notice).
Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu on the left of this page.
Payments to eligible claimants will be made only if the Court
approves the Settlement and a Plan of Allocation, only after any appeals are
resolved, and after the completion of all claims processing. Please be patient,
as this process will take some time to complete.
YOUR
LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:
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SUBMIT
A PROOF OF CLAIM FORM POSTMARKED NO LATER THAN NOVEMBER 5, 2021. ONLY ONE
PROOF OF CLAIM FORM NEEDS TO BE SUBMITTED.
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This is
the only way to be eligible to receive a payment from the proceeds of the
Settlement. 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 Claims
(defined in ¶ 29 of the Notice
) that you have against the
Defendants and the other Released Defense Parties (defined in ¶ 30 of the Notice
), so it is in
your interest to submit a Claim Form.
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EXCLUDE
YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR
EXCLUSION SO THAT IT IS RECEIVED NO
LATER THAN OCTOBER 15, 2021.
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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 Released Defense Parties
concerning the Released Claims.
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OBJECT TO THE
SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 15,
2021.
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If you
do not like the 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.
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GO TO A HEARING
ON NOVEMBER 5, 2021, AT 10:00 AM, AND FILE A NOTICE OF INTENTION TO APPEAR SO
THAT IT IS RECEIVED NO LATER THAN
OCTOBER 15, 2021.
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Filing
a written objection and notice of intention to appear by October 15, 2021,
allows you to speak in Court, at the discretion of the Court, about the
fairness of the 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.
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DO NOTHING.
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If you
are a member of the Settlement Class and you do not submit a valid Proof of
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.
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Please read the Notice
carefully. If you have questions, you
may call the Dynagas LNG Partners LP Securities Litigation Help Line at 877-235-9861
or email info@DynagasSecuritiesLitigation.com.
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need Adobe Reader to view documents on this site. You can learn more about Adobe
Reader and download the latest version by clicking here.
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