Mesa Securities Class Action

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Mesa Securities Class Action
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The information contained on this web page is only a summary of information presented in more detail in the Notice of
Pendency and Proposed Settlement of Class Action. (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional details.

On October 28, 2022, the Court preliminarily approved a Settlement to resolve claims by DeKalb Pension Fund (“Lead Plaintiff”) that have been asserted on behalf of the proposed Settlement Class against defendants Jonathan G. Ornstein, Michael J. Lotz, Daniel J. Altobello, Ellen N. Artist, Mitchell Gordon, Dana J. Lockhart, G. Grant Lyon, Giacomo Picco, Harvey Schiller, Don Skiados, Raymond James & Associates, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Cowen and Company, LLC, Stifel, Nicolaus & Company, Incorporated, and Imperial Capital, LLC (collectively, “Defendants”). Defendants deny all allegations of misconduct. The two sides disagree on whether the investors could have won at trial, and if so, how much money they could have won.

If given final approval by the Court, the proposed Settlement will create a $5,000,000 settlement fund, plus any interest or income earned thereon, for the benefit of eligible Settlement Class Members, less any attorneys’ fees, expenses, and costs awarded by the Court, Notice and Administration Expenses, and Taxes.

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 who purchased or otherwise acquired Mesa securities pursuant and/or traceable to Mesa’s initial public offering (“IPO”) commenced on or about August 9, 2018 and were damaged thereby.

Please read the Notice  to fully understand your rights and options. Copies of the Notice  and Claim Form  can be found on the menu at the left of this page.

The Court in charge of this case still has to decide whether to approve the Settlement. Payments will be made to all Settlement Class Members who timely submit valid Claim Forms if the Court approves the Settlement and after appeals are resolved.  Please be patient.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A CLAIM FORM BY MARCH 7, 2023

The only way to get a payment.

EXCLUDE YOURSELF BY MARCH 17, 2023

Get no payment. This is the only option that, assuming your claim is timely brought, might allow you to ever bring or be part of any other lawsuit against Defendants and/or the other Released Defendant Parties concerning the Released Claims.

OBJECT BY MARCH 17, 2023

Write to the Court about why you do not like the Settlement, the proposed Plan of Allocation, Lead Counsel’s application for an award of attorneys’ fees and payment of expenses, and/or an award of reasonable costs and expenses to Lead Plaintiff.  If you object, you will still be a member of the Settlement Class.

GO TO A HEARING ON APRIL 6, 2023 AND FILE A NOTICE OF INTENTION TO APPEAR BY MARCH 17, 2023

Ask to speak in Court about the Settlement at the Settlement Hearing.

DO NOTHING

Get no payment AND give up your rights to bring your own individual action.

 

Please read the Notice carefully.  If you have questions, you may call the Mesa Securities Class Action Help Line at 1-877-354-3789 or email info@mesasecuritiesclassaction.com.  

 
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