Alta Mesa Resources $126.3M SEC Violations Settlement

If you held shares of Alta Mesa Resources, Inc. or purchased its securities between August 16, 2017, and May 17, 2019, you may qualify to submit a claim for a class action settlement.

Alta Mesa Resources, Inc. has agreed to pay $126,300,000 to settle a class action lawsuit for alleged securities law violations, including making material misrepresentations and omissions in connection with a business combination.

Who is eligible for a securities settlement payment?

Class members include the following:

• Held shares of Alta Mesa Resources, Inc. common stock or Silver Run II Units on January 22, 2018, and were entitled to vote on the business combination.
• Purchased or otherwise acquired Alta Mesa (Silver Run II) common stock, warrants, or units between August 16, 2017 and February 9, 2018.
• Purchased or otherwise acquired Alta Mesa common stock or warrants (excluding those automatically converted from Silver Run Units) between February 9, 2018, and May 17, 2019.

How much is the Alta Mesa settlement payout?

• Common Stock: Estimated average recovery of $0.68 per share, dependent on the number of approved claims.
• Warrants: Estimated average recovery of $0.17 per warrant, also dependent on the number of valid claims submitted.

How to claim an Alta Mesa payment

To claim a settlement payout, you must submit a claim form. You can file a claim online or download the PDF claim form and mail it to the settlement administrator by the May 7, 2025 deadline.

Settlement Administrator's mailing address: Alta Mesa Securities Litigation c/o JND Legal Administration, P.O. Box 91218, Seattle, WA 98111

Required proof

• Last four digits of SSN or Taxpayer Identification Number required on claim form.
• Broker confirmation copies, and transaction documentation should be included with your claim.

Payout options

Payments will be made in the form of a check mailed to the address provided.

$126.3 Million settlement fund breakdown

The settlement fund of $126.3 million will cover various costs and payments, including:

• Settlement administration costs: To be determined
• Attorneys' fees: Up to $41,679,000
• Attorneys' expenses: Not to exceed $7 million
• Service awards to class plaintiffs: Not to exceed $175,000 in total
• Payments to approved claimants: Remaining funds after above deductions

Important dates

• Fairness Hearing: April 30, 2025
• Deadline to File a Claim: May 7, 2025

When is the Alta Mesa Resources settlement payout date?

The fairness hearing will take place on April 30, 2025. Payments will be issued to valid claimants after the court approves the settlement and all claims are processed.

Why was there a class action settlement?

The lawsuit alleged that Alta Mesa Resources, Inc. and related entities made false and misleading statements and omissions in connection with a business combination, violating federal securities laws. The settlement was reached to avoid the costs of continued litigation and a possible trial.

Sources

• 1] [Class Notice
• 2] [Settlement Website FAQ Page