Welcome to the Miller Energy-KPMG Securities Settlement Website.
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”).
This matter is a proposed Settlement of claims in a pending securities class action brought by investors alleging, among other things, that defendant KPMG LLP (KPMG) violated the federal securities laws and asserting fraud-based claims under Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and strict liability and negligence claims under Section 11 of the Securities Act.
If you are a member of the Settlement Class, your rights will be affected and you may be eligible for a payment from 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”).
Please read the Notice to fully understand your rights and options.
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked no later than August 18, 2022.
Payments to eligible claimants will be made 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.
The Notice has more information on your rights as a Settlement Class Member in this Settlement.