Speed v. JMA Energy, L.L.C.
Speed v. JMA Settlement
Case No. CJ-2016-59

Welcome to the Speed v. JMA Settlement Website

If You Received Oil and Gas Proceeds Payments from JMA Energy Company, L.L.C. from June 1, 2000 to December 31, 2016, You Could Be a Part of a Proposed Class Action Settlement

 

Important Updates:

What is the Litigation about?

On April 12, 2019, the District Court of Hughes County, Oklahoma, preliminarily approved a Settlement in the Litigation between Plaintiff, on behalf of himself and the Settlement Classes, and Defendant JMA Energy Company, L.L.C. ("Defendant" or "JMA"). The Litigation seeks damages for Defendant’s alleged failure to pay statutory interest on allegedly late payments under Oklahoma law. Defendant expressly denies all allegations of wrongdoing or liability with respect to the claims and allegations in the Litigation. The Court has made no determination with respect to any of the parties’ claims or defenses.

Additional information about the lawsuit and important court documents may be found on the Important Documents and FAQs pages of this website.

Who is included?

The Settlement Classes in the Litigation consists of the following individuals and entities: 

Class A
All non-excluded Persons who are or were Royalty Interest owners in oil and gas wells located in Oklahoma who received payments of Proceeds of Production from Defendant (or Defendant's designee) with payment dates between June 1, 2000 and December 31, 2016 which were not or claimed not to have been made within the applicable time periods set forth in Oklahoma's Production Revenue Standards Act, Okla. Stat., tit. 52, §570.1, et. seq.

Class B
All non-excluded Persons who are or were an owner of an Other Interest in oil and gas wells located in Oklahoma who received payments of Proceeds of Production from Defendant (or Defendant's designee) with payment dates between June 1, 2000 and December 31, 2016 (or Defendant's designee) which were not or claimed not to have been made within the applicable time periods set forth in Oklahoma's Production Revenue Standards Act, Okla. Stat., tit. 52, §570.1, et. seq.

The Persons excluded from the Settlement Classes are: (1) agencies, departments, and/or instrumentalities of the United States of America or the State of Oklahoma and (2) publicly traded oil and gas companies and their affiliates; and (3) officers of the Court.

What does the Settlement provide?

In settlement of all claims alleged in the Litigation, Defendant has agreed to pay $800,000.00 in cash (“Gross Settlement Fund”).  In exchange for this payment and other consideration outlined in the Settlement Agreement, the Settlement Class Participants (as defined in the Settlement Agreement) shall release the Released Claims (as defined in the Settlement Agreement) against the Released Parties (as defined in the Settlement Agreement). The $800,000.00 cash payment is referred to as the “Gross Settlement Fund.” The Gross Settlement Fund, less Class Counsel’s Fees and Expenses, and other costs or deductions approved by the Court (the “Net Settlement Fund”), will be distributed to the Settlement Class Participants pursuant to the terms of the Settlement Agreement.

Your Legal Rights and Options

Do Nothing By taking no action, Class A Members' interests will be represented by Plaintiff as the Class Representative and Plaintiff's Counsel. If the Court approves the proposed Settlement, Class A Members or their successors, if eligible, will receive the benefits of the proposed Settlement.

By taking no action, the Class B Member will not be a Settlement Class Participant, will not be bound by the Settlement Agreement or entitled to any benefits provided for therein, will not be releasing any claims it may have against the Defendant, and will not be bound by any of the orders and judgments entered by the Court in the case.

Opt In to the Class Settlement

(Passed)

Class B Members can remain in the Class and become a Settlement Class Participant by properly completing a Claim Form and timely submitting the same to the Settlement Administrator by way of certified mail, return receipt requested, to be received by June 25, 2019, at 5 p.m. CDT.
Ask to be Excluded
(Passed)
To exclude yourself from the Settlement Class, Class A Members must mail by certified mail, return receipt requested, a Request for Exclusion to the Settlement Administrator. Your Request for Exclusion must contain the information described in the Notice of Settlement and must be received no later than May 28, 2019, at 5 p.m. CDT. You cannot exclude yourself on this website, by telephone, or by email.
Object
(Passed)
Class A Members who do not submit a Request for Exclusion can file and serve a written objection to the Settlement and appear before the Court.

Class B Members who timely and properly submit a Claim Form can file and serve a written objection to the Settlement and appear before the Court.

The written objection must contain the information described in the Notice of Settlement and must be filed with the Court no later than May 28, 2019, at 5 p.m. CDT.

Attend the Final Fairness Hearing

(Passed)

A Final Fairness Hearing will be held on July 12, 2019, at 1:30 p.m., in the District Court of Hughes County, Oklahoma, 200 N. Broadway, Holdenville, OK 74848. Please continue to check this website to confirm no change to the date and time of the Hearing has been made.

For More Information

Visit this website often to get the most up-to-date information.

Mail

Speed v. JMA Settlement
c/o JND Legal Administration
P.O. Box 91193
Seattle, WA 98111