Henry Price Trust v. Plains Marketing
Henry Price Trust v. Plains Marketing Settlement
6:19-cv-00390-KEW

Welcome to the Henry Price Trust v. Plains Marketing Settlement Website

If you have received a payment for oil and gas proceeds from Plains Marketing, L.P., in Oklahoma, you could be a part of a proposed class action settlement

Important Update: Following the Final Fairness Hearing on March 26, 2021, the Court entered its Judgment granting final approval to the settlement as well as an order awarding fees, expenses, and case contribution awards and an Initial Plan of Allocation Order. Copies of these documents are available for download from the Important Documents page.

What is this Lawsuit about?

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 the merits of any of the parties’ claims or defenses.

Who is Included?

All non-excluded persons or entities who received proceeds payments from Defendant Plains Marketing, L.P., or its designee on Plains’ behalf, for oil and/or liquids proceeds from oil and/or gas wells located in the State of Oklahoma, or whose oil and/or liquids proceeds from oil and/or gas wells located in the State of Oklahoma were remitted to unclaimed property divisions by Plains, or its designee on Plains’ behalf, dated between October 1, 2014, and October 31, 2020.

A list of the persons and entities specifically excluded from the Settlement Class can be found in the Notice of Proposed Settlement, a copy of which is available on the Important Documents page.

What does the Settlement provide?

In settlement of all claims alleged in the Litigation, Defendant has agreed to pay Ten Million Dollars ($10,000,000.00) in cash (“Gross Settlement Fund”). In exchange for the payment noted above and other consideration outlined in the Settlement Agreement, the Settlement Class shall release the Released Claims against the Released Parties. The Gross Settlement Fund, less Class Counsel’s Fees and Expenses, and other costs approved by the Court (the “Net Settlement Fund”), will be distributed to final Class Members pursuant to the terms of the Settlement Agreement. The Settlement Agreement also includes Future Benefits for the Settlement Class.

A copy of the Settlement Agreement is available on the Important Documents page.

YOUR LEGAL RIGHTS AND OPTIONS

Option/Deadline
Event
Do Nothing, Participate in the Settlement By taking no action, your interests will be represented by Plaintiff as the Class Representative and Plaintiff’s Counsel. As a Class Member, if you are entitled to a distribution pursuant to the Allocation Methodology, you will receive your portion of the Net Settlement Fund and will be bound by the Settlement Agreement and all orders and judgments entered by the Court regarding the Settlement.
Exclude Yourself
March 5, 2021
(received)
(Passed)		 If you did not wish to be a member of the Settlement Class, you had to exclude yourself from the Settlement Class. If you validly requested exclusion, you will not receive any distribution from the Net Settlement Fund, you cannot object to the Settlement, and you will not have released any claim against the Released Parties. You will not be legally bound by anything that happens in the Litigation. For more information see FAQ 5.
Object or Comment
March 12, 2021
(received)
(Passed)		 Any Class Member who wished to object to any part of the Settlement, the Allocation Methdology, the Plan of Allocation, the request for Plaintiff's attorneys' fees or and Litigation Expenses, or the request for a Case Contribution Award to Class Representative could have filed an objection. For more information see FAQ 6.
Attend the Final Fairness Hearing
March 26, 2021 at 10 a.m.
(Passed)		 The Final Fairness Hearing was held telephonically. The Court issued Final Judgment and approval of the settlement. For more information see FAQ 3.

For More Information

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

Call
1-833-722-0895
Email
info@price-plains.com
Mail

Henry Price Trust v. Plains Marketing Settlement
c/o JND Legal Administration
P.O. Box 91208
Seattle, WA 98111