Miller Energy Securities Settlement

The information contained on this website is only a summary of information presented in more detail in the Notice of (I) Proposed Settlement of Class Action, (II) Hearing on Proposed Settlement, and (III) Deadline to Submit Proofs of Claim. Because this website is just a summary, you should review the Notice for additional details.

The Court-appointed Lead Plaintiffs, Lewis Cosby, Eric Montague, and Martin Ziesman, as Co-Trustee for the Carolyn K. Ziesman Revocable Trust (“Lead Plaintiffs”), on behalf of themselves and the Settlement Class, have reached a proposed settlement of the Action for $35,000,000 in cash which will resolve all claims in the Action (the “Settlement”).

The Settlement Class consists of:

All persons or entities who: 1) purchased or otherwise acquired Miller Energy common stock, Miller Energy 10.75% Series C Cumulative Redeemable Preferred Stock (the “Series C Preferred Stock”) or Miller Energy 10.5% Series D Fixed Rate/Floating Rate Cumulative Redeemable Preferred Stock (the “Series D Preferred Stock’) between August 29, 2011 and July 30, 2015, inclusive, and who were damaged thereby (the “Section 10(b) Class”); and 2) purchased or otherwise acquired Miller Energy Series C Preferred Stock or Series D Preferred Stock pursuant to or traceable to the Offering Documents and were damaged thereby (the “Section 11 Class”).

The first distribution of the net settlement fund occurred in September 2023. A second distribution occurred in December 2024.