Joseph Prause v. TechnipFMC PLC, et al.
TechnipFMC Securities Litigation
Cae No. 4:17-cv-02368 (S.D. Tex.)

Frequently Asked Questions

 

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  • The Court directed that the Notice be mailed to you because you or someone in your family or an investment account for which you serve as a custodian may have purchased or otherwise acquired one or more TechnipFMC Securities during the Settlement Class Period.  The Court also directed that the Notice be posted online on the Important Documents page of this website and mailed to you upon request to the Claims Administrator.  The Court has directed us to disseminate these notices because, as a potential Settlement Class Member, you have a right to know about your options before the Court rules on the proposed Settlement.  Additionally, you have the right to understand how this class action lawsuit may generally affect your legal rights.  If the Court approves the Settlement, and the Plan of Allocation (or some other plan of allocation), the claims administrator selected by the Class Representative and approved by the Court will make payments pursuant to the Settlement after any objections and appeals are resolved.

    The purpose of the Notice is to inform you of the existence of this case, that it is a class action, how you might be affected, and how to exclude yourself from the Settlement Class if you wish to do so.  It is also being sent to inform you of the terms of the proposed Settlement, and of a hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement, the proposed Plan of Allocation and the motion by Class Counsel for an award of attorneys’ fees and reimbursement of Litigation Expenses (the “Settlement Hearing”).  See paragraph 75 of the Notice for details about the Settlement Hearing, including the date and location of the hearing.

    The issuance of the Notice is not an expression of any opinion by the Court concerning the merits of any claim in the Action, and the Court still has to decide whether to approve the Settlement.  If the Court approves the Settlement and a plan of allocation, then payments to Authorized Claimants will be made after any appeals are resolved and after the completion of all claims processing.  Please be patient, as this process can take some time to complete.

  • On August 3, 2017, a putative class action complaint was filed in the United States District Court for the Southern District of Texas (the “Southern District of Texas”) against TechnipFMC plc, Douglas J. Pferdehirt (“Pferdehirt”), and Maryann T. Mannen (“Mannen”), styled as Prause v. TechnipFMC plc, et al., No. 4:17 cv 2368 (S.D. Tex.).  

    By Order dated December 8, 2017, the Southern District of Texas appointed the Class Representative as Lead Plaintiff for the Action and approved the Class Representative’s selection of Pomerantz LLP and Lead Counsel.

    On January 22, 2018, the Class Representative, as Lead Plaintiff, filed and served an Amended Class Action Complaint (the “Complaint”) individually and on behalf of all persons or entities similarly situated, asserting claims against TechnipFMC, Pferdehirt and Mannen arising under Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b–5 promulgated thereunder, and against Pferdehirt and Mannen arising under Section 20(a) of the Exchange Act.  In addition, the Complaint also asserted claims against TechnipFMC, Halvorsen and Ralston arising under Section 11 of the Securities Act of 1933 (the “Securities Act”) and against Halvorsen and Ralston arising under Section 15 of the Securities Act.  Among other things and in relevant part, the Complaint alleged that all of the TechnipFMC Securities issued between January 16, 2017 and July 24, 2017, inclusive (the “Settlement Class Period”), were issued pursuant to certain registration statements that contained material misstatements and misrepresentations, including material overstatements of TechnipFMC’s financial data.  The Complaint further alleged that Halvorsen and Ralston were liable for the material misstatements and misrepresentations in TechnipFMC’s registration statements by virtue of their status as control persons.

    On March 8, 2018, pursuant to Judge Bennett’s Order approving the Parties’ stipulated scheduling order dated January 2, 2018, TechnipFMC, Mannen, Pferdehirt, and Ralston moved to dismiss the Complaint.  On June 6, 2018, Halvorsen joined in the motion to dismiss.  On June 15, 2018, the Court heard argument on the motion to dismiss./p>

    By Order dated January 18, 2019, the Court dismissed the Exchange Act claims as against TechnipFMC, Mannen, and Pferdehirt, and dismissed claims against Halvorsen and Ralston arising under Section 15 of the Securities Act.  The Court ordered TechnipFMC, Halvorsen, and Ralston to answer the Complaint as to the Section 11 claims arising under the Securities Act.  On February 15, 2019, Defendants answered the operative Complaint.

    On April 3, 2019, the Class Representative, as Lead Plaintiff, moved the Court to certify the Action as a class action, to appoint then Lead Plaintiff as the Class Representative and to appoint Pomerantz LLP and The Briscoe Law Firm, PLLC as Class Counsel.  Defendants opposed the motion on June 24, 2019.  On September 13, 2019, the Court heard argument on the motion for class certification.

    By Order dated March 9, 2020, the Court granted the motion to certify the Action as a class action, appointed the Class Representative, and appointed Pomerantz LLP as Class Counsel, and The Briscoe Law Firm, PLLC as Liaison Counsel.

    On September 20, 2019, Class Counsel and Defendants’ Counsel participated in a full-day mediation session before experienced mediators former Judge Daniel Weinstein and former Ambassador David Carden.  In advance of that session, the Parties exchanged detailed mediation statements, which outlining their respective analyses of the claims and defenses in the Action, and provided the same to Mr. Weinstein and Mr. Carden.  The session was not successful.  Class Counsel and Defendants’ Counsel participated in another full-day mediation session before Mr. Weinstein and Mr. Carden on March 18, 2020.  In advance of the March 18, 2020 mediation, the Parties again submitted and exchanged extensive mediation briefs.  The mediation was not successful.  On November 12, 2020, Class Counsel and Defendants’ Counsel, with assistance from Judge Weinstein and Ambassador Carden, reached an agreement-in-principle to settle the Action.

    Based on the investigation and mediation of the case and the Class Representative’s direct oversight of the prosecution of this matter and with the advice of his counsel, the Class Representative has agreed to settle and release the claims raised in the Action pursuant to the terms and provisions of the Stipulation, after considering, among other things, (a) the substantial financial benefit that the Class Representative and the other members of the Settlement Class will receive under the proposed Settlement; and (b) the significant risks and costs of continued litigation and trial.

    Defendants are entering into the Stipulation solely to eliminate the burden, expense, uncertainty, and risk of further litigation.  Defendants expressly have denied and continue to deny all allegations of wrongdoing or liability against them arising out of any of the conduct, statements, acts or omissions alleged, or that could have been alleged, in the Action, and the Stipulation shall in no event be construed as, or deemed to be evidence of, an admission or concession on the part of the Defendants, or any other of the Defendants’ Releasees (defined in ¶ 32 of the Notice), with respect to any claim of any liability, fault, wrongdoing or damage whatsoever, or any infirmity in any defense that the Defendants have or could have asserted.  Similarly, the Stipulation shall in no event be construed or deemed to be evidence of or an admission or concession on the part of the Class Representative of any infirmity in any of the claims asserted in the Action, or an admission or concession that any of the Defendants’ defenses to liability had any merit.

    On December 16, 2020, the Court preliminarily approved the Settlement, authorized the Notice to be mailed to potential Settlement Class Members and the Notice to be posted online, and scheduled the Settlement Hearing to consider whether to grant final approval to the Settlement.

  • If you are a member of the Settlement Class, you are subject to the Settlement, unless you timely request to be excluded.  The Settlement Class consists of:

    all persons or entities that purchase or otherwise acquired TechnipFMC Common Stock in the United States, including but not limited to shares acquired through the merger of FMC Technologies Inc., FMC Technologies SIS Limited and Technip S.A.) between January 16, 2017 and July 24, 2017, both dates inclusive.

    Excluded from the Settlement Class are Defendants; members of the Immediate Family of each of the Individual Defendants; the current and former Officers and directors of TechnipFMC; any person, firm, trust, corporation, Officer, or other entity in which any Defendant has or had a controlling interest; and the legal representatives, affiliates, heirs, successors-in-interest or assigns of any such excluded party.  Also excluded from the Settlement Class are any persons or entities who or which exclude themselves by submitting a request for exclusion that is accepted by the Court.  See “What If I Do Not Want To Be A Member Of The Settlement Class?  How Do I Exclude Myself,” on page 18 of the Notice.

    PLEASE NOTE:  RECEIPT OF THE NOTICE DOES NOT MEAN THAT YOU ARE A SETTLEMENT CLASS MEMBER OR THAT YOU WILL BE ENTITLED TO RECEIVE PROCEEDS FROM THE SETTLEMENT.

    If you are a Settlement Class Member and you wish to be eligible to participate in the distribution of proceeds from the Settlement, you are required to submit the Claim Form that is available online on the Important Documents page of this website or which can be mailed to you upon request to the Claims Administrator, and the required supporting documentation as set forth therein, postmarked no later than May 15, 2021.

  • The Class Representative and Class Counsel believe that the claims asserted against Defendants have merit.  They recognize, however, the expense and length of continued proceedings necessary to pursue their claims against the remaining Defendants through trial and appeals, as well as the very substantial risks they would face in establishing liability.  Even if the hurdles to establishing liability were overcome, the amount of damages that could be attributed to the allegedly false statement would be hotly contested.  Plaintiffs would have to prevail at several stages – motions for summary judgment, trial, and if they prevailed on those, on the appeals that were likely to follow.  Thus, there were very significant risks attendant to the continued prosecution of the Action.

    In light of these risks, the amount of the Settlement and the immediacy of recovery to the Settlement Class, the Class Representative and Class Counsel believe that the proposed Settlement is fair, reasonable and adequate, and in the best interests of the Settlement Class.  The Class Representative and Class Counsel believe that the Settlement provides a substantial benefit to the Settlement Class, namely $19,500,000 in cash (less the various deductions described in the Notice), as compared to the risk that the claims in the Action would produce a smaller, or no recovery after summary judgment, trial and appeals, possibly years in the future.

    Defendants have denied the claims asserted against them in the Action and deny having engaged in any wrongdoing or violation of law of any kind whatsoever.  Defendants have agreed to the Settlement solely to eliminate the burden, expense, uncertainty, and risk of further litigation.  Accordingly, the Settlement may not be construed as an admission of any wrongdoing by Defendants.

  • If there were no Settlement and the Class Representative failed to establish any essential legal or factual element of their claims against Defendants, neither the Class Representative nor the other members of the Settlement Class would recover anything from Defendants.  Also, if Defendants were successful in proving any of their defenses, either at summary judgment, at trial or on appeal, the Settlement Class could recover substantially less than the amount provided in the Settlement, or nothing at all.

  • As a Settlement Class Member, you are represented by the Class Representative and Class Counsel, unless you enter an appearance through counsel of your own choice at your own expense.  You are not required to retain your own counsel, but if you choose to do so, such counsel must file a notice of appearance on your behalf and must serve copies of his or her appearance on the attorneys listed in the section entitled, “When And Where Will The Court Decide Whether To Approve The Settlement?,” on pages 19-20 of the Notice.

    If you are a Settlement Class Member and do not wish to remain a Settlement Class Member, you may exclude yourself from the Settlement Class by following the instructions in the section entitled, “What If I Do Not Want To Be A Member Of The Settlement Class?  How Do I Exclude Myself?,” on page 18 of the Notice.

    If you are a Settlement Class Member and you wish to object to the Settlement, the Plan of Allocation, or Class Counsel’s application for attorneys’ fees and reimbursement of Litigation Expenses, and if you do not exclude yourself from the Settlement Class, you may present your objections by following the instructions in the section entitled, “When And Where Will The Court Decide Whether To Approve The Settlement?,” on pages 19-20 of the Notice.

    If you are a Settlement Class Member and you do not exclude yourself from the Settlement Class, you will be bound by any orders issued by the Court.  If the Settlement is approved, the Court will enter a judgment (the “Judgment”).  The Judgment will dismiss with prejudice the claims against Defendants and will provide that, upon the Effective Date of the Settlement, the Class Representative and each of the other Settlement Class Members, on behalf of themselves, and their respective heirs, executors, administrators, predecessors, successors, and assigns in their capacities as such, will have fully, finally and forever compromised, settled, released, resolved, relinquished, waived and discharged each and every Released Plaintiffs’ Claim (as defined in ¶ 31 of the Notice) against the Defendants and the other Defendants’ Releasees (as defined in ¶ 32 of the Notice), and shall forever be barred and enjoined from prosecuting any or all of the Released Plaintiffs’ Claims against any of the Defendants’ Releasees.

    “Released Plaintiffs’ Claims” means all any and all claims, rights, remedies, demands, liabilities and causes of action of every nature and description (including but not limited to any claims for damages, punitive damages, compensation, restitution, disgorgement, rescission, interest, injunctive relief, attorneys’ fees, expert or consulting fees, obligations, debts, losses, and any other costs, expenses, or liabilities of any kind or nature whatsoever), whether legal, statutory or equitable in nature to the fullest extent that the law permits their release in this Action, whether known claims or Unknown Claims (as defined below), whether arising under federal, state, common or foreign law, whether class or individual in nature, that Class Representatives or any other members of the Settlement Class: (i) asserted in this litigation, including any complaint filed or submitted to the Court in this Action; or (ii) could have asserted in any forum or proceeding that arise out of or are based upon or are related to the allegations, transactions, facts, matters or occurrences, representations or omissions involved, set forth, or referred to in the Complaint that arise out of the purchase or acquisition of TechnipFMC Common Stock during the Settlement Class Period.  Released Plaintiffs’ Claims do not include: (i) any claims relating to the enforcement of the Settlement; and (ii) any claims of any person or entity who or that submits a request for exclusion that is accepted by the Court.

    “Defendants’ Releasees” means Defendants and their current or former trustees, officers, directors, principals, employees, agents, partners, insurers, reinsurers, auditors, heirs, attorneys, legal representatives, predecessors, successors or assigns, parents, subsidiaries, divisions, affiliates, managers, executors, administrators, joint ventures, general or limited partnerships, limited liability companies, Immediate Family members of the Individual Defendants, and any trust of which any Individual Defendant is the settlor or which is for the benefit of their Immediate Family members.

    “Unknown Claims” means any and all Released Plaintiffs’ Claims which the Class Representative or any other Settlement Class Member does not know or suspect to exist in his, her or its favor at the time of the release of such claims, and any and all Released Defendants’ Claims which any Defendant or any other Defendants’ Releasee does not know or suspect to exist in his, her, or its favor at the time of the release of such claims, which, if known by him, her or it, might have affected his, her or its decision(s) with respect to this Settlement.  With respect to any and all Released Claims, the Parties stipulate and agree that, upon the Effective Date, the Class Representative and Defendants shall expressly waive, and each of the other Settlement Class Members and each of the other Defendants’ Releasees shall be deemed to have waived, and by operation of the Judgment or the Alternate Judgment, if applicable, shall have expressly waived and relinquished any and all provisions, rights, and benefits conferred by any law of any state or territory of the United States, or principle of common law or foreign law, which is similar, comparable, or equivalent to California Civil Code § 1542, which provides:

    A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.

    The Class Representative and Defendants acknowledge, and each of the other Settlement Class Members and each of the other Defendants’ Releasees shall be deemed by operation of law to have acknowledged, that the inclusion of “Unknown Claims” in the definition of  Released Claims and Released Defendants’ Claims and Released Plaintiffs’ Claims was separately bargained for and a key element of the Settlement.

    The Class Representative and Defendants acknowledge, and each of the other Settlement Class Members and each of the other Defendants’ Releasees shall be deemed by operation of law to have acknowledged, that the inclusion of “Unknown Claims” in the definition of  Released Claims and Released Defendants’ Claims and Released Plaintiffs’ Claims was separately bargained for and a key element of the Settlement.

    The Judgment will also provide that, upon the Effective Date of the Settlement, Defendants, on behalf of themselves, and their respective heirs, executors, administrators, predecessors, successors, and assigns in their capacities as such, will have fully, finally and forever compromised, settled, released, resolved, relinquished, waived and discharged each and every Released Defendants’ Claim (as defined in ¶ 35 of the Notice) against the Class Representative and the other Plaintiffs’ Releasees (as defined in ¶ 36 of the Notice), and shall forever be barred and enjoined from prosecuting any or all of the Released Defendants’ Claims against any of the Plaintiffs’ Releasees.

    “Released Defendants’ Claims” means all claims, rights and causes of action, duties, obligations, demands, actions, debts, sums of money, suits, contracts, agreements, promises, damages, and liabilities of every nature and description, whether known claims or Unknown Claims (as defined below), whether arising under federal, state, common or foreign law, or any other law, that the Defendants or any other Defendants’ Releasees asserted, or could have asserted, against any of the Plaintiffs’ Releasees that arise out of or relate in any way to the commencement, prosecution, settlement or resolution of the Action or the claims against the Defendants’ Releasees, except for claims relating to the enforcement of the Settlement or any claims against any person or entity who or which submits a request for exclusion from the Settlement Class that is accepted by the Court.

    “Plaintiffs’ Releasees” means the Class Representative, all other plaintiffs in the Action, and any other Settlement Class Member, and their respective current and former officers, directors, agents, parents, affiliates, subsidiaries, successors, predecessors, assigns, assignees, employees, and attorneys, in their capacities as such.

  • To be eligible for a payment from the proceeds of the Settlement, you must be a member of the Settlement Class and you must timely complete and return the Claim Form with adequate supporting documentation postmarked no later than May 15, 2021.  A Claim Form is available on the Important Documents page of this website maintained by the Claims Administrator for the Settlement or you may request that a Claim Form be mailed to you by calling the Claims Administrator toll free at 1-877-545-0232.  Please retain all records of your ownership of and transactions in TechnipFMC Securities, as they may be needed to document your Claim.  If you request exclusion from the Settlement Class or do not submit a timely and valid Claim Form, you will not be eligible to share in the Net Settlement Fund.

  • At this time, it is not possible to make any determination as to how much any individual Settlement Class Member may receive from the Settlement.

    Pursuant to the Settlement, Defendants have agreed to pay or cause to be paid nineteen million five hundred thousand dollars ($19,500,000) in cash.  The Settlement Amount will be deposited into an escrow account.  The Settlement Amount plus any interest earned thereon is referred to as the “Settlement Fund.”  If the Settlement is approved by the Court and the Effective Date occurs, the “Net Settlement Fund” (that is, the Settlement Fund less (a) all federal, state and/or local taxes on any income earned by the Settlement Fund and the reasonable costs incurred in connection with determining the amount of and paying taxes owed by the Settlement Fund (including reasonable expenses of tax attorneys and accountants); (b) the costs and expenses incurred in connection with providing notice to Settlement Class Members and administering the Settlement on behalf of Settlement Class Members; and (c) any attorneys’ fees and Litigation Expenses awarded by the Court) will be distributed to Settlement Class Members who submit valid Claim Forms, in accordance with the proposed Plan of Allocation or such other plan of allocation as the Court may approve. 

    The Net Settlement Fund will not be distributed unless and until the Court has approved the Settlement and a plan of allocation, and the time for any petition for rehearing, appeal or review, whether by certiorari or otherwise, has expired.

    Neither Defendants nor any other person or entity that paid any portion of the Settlement Amount on their behalf are entitled to get back any portion of the Settlement Fund once the Court’s order or judgment approving the Settlement becomes Final.  Defendants shall not have any liability, obligation or responsibility for the administration of the Settlement, the disbursement of the Net Settlement Fund or the plan of allocation.

    Approval of the Settlement is independent from approval of a plan of allocation.  Any determination with respect to a plan of allocation will not affect the Settlement, if approved.

    Unless the Court otherwise orders, any Settlement Class Member who fails to submit a Claim Form postmarked on or before May 15, 2021 shall be fully and forever barred from receiving payments pursuant to the Settlement but will in all other respects remain a Settlement Class Member and be subject to the provisions of the Stipulation, including the terms of any Judgment entered and the releases given.  This means that each Settlement Class Member releases the Released Plaintiffs’ Claims (as defined in ¶ 31 of the Notice) against the Defendants’ Releasees (as defined in ¶ 32 of the Notice) and will be enjoined and prohibited from filing, prosecuting, or pursuing any of the Released Plaintiffs’ Claims against any of the Defendants’ Releasees whether or not such Settlement Class Member submits a Claim Form.

    Participants in and beneficiaries of a plan covered by ERISA (“ERISA Plan”) should NOT include any information relating to their transactions in TechnipFMC Securities held through the ERISA Plan in any Claim Form that they may submit in this Action.  They should include ONLY those shares that they purchased or acquired outside of the ERISA Plan.  Claims based on any ERISA Plan’s purchases or acquisitions of TechnipFMC Securities during the Settlement Class Period may be made by the plan’s trustees.  To the extent any of the Defendants or any of the other persons or entities excluded from the Settlement Class are participants in the ERISA Plan, such persons or entities shall not receive, either directly or indirectly, any portion of the recovery that may be obtained from the Settlement by the ERISA Plan.

    The Court has reserved jurisdiction to allow, disallow, or adjust on equitable grounds the Claim of any Settlement Class Member.

    Each Claimant shall be deemed to have submitted to the jurisdiction of the Court with respect to his, her or its Claim Form.

    Only Settlement Class Members, i.e., persons and entities who purchased or otherwise acquired TechnipFMC Securities during the Settlement Class Period and were damaged as a result of such purchases or acquisitions, will be eligible to share in the distribution of the Net Settlement Fund.  Persons and entities that are excluded from the Settlement Class by definition or that exclude themselves from the Settlement Class pursuant to request will not be eligible to receive a distribution from the Net Settlement Fund and should not submit Claim Forms.  The only securities that are included in the Settlement are the TechnipFMC Securities.

  • Class Counsel have not received any payment for their services in pursuing claims against the Defendants on behalf of the Settlement Class, nor have Class Counsel been reimbursed for their out-of-pocket expenses.  Before final approval of the Settlement, Class Counsel will apply to the Court for an award of attorneys’ fees for all Class Counsel in an amount not to exceed 33% of the Settlement Fund.  At the same time, Class Counsel also intend to apply for reimbursement of Litigation Expenses in an amount not to exceed $850,000, which may include an application for reimbursement of the reasonable costs and expenses incurred by the Class Representative directly related to his representation of the Settlement Class.  The Court will determine the amount of any award of attorneys’ fees or reimbursement of Litigation Expenses.  Such sums as may be approved by the Court will be paid from the Settlement Fund.  Settlement Class Members are not personally liable for any such fees or expenses.

  • Each Settlement Class Member will be bound by all determinations and judgments in this lawsuit, whether favorable or unfavorable, unless such person or entity mails or delivers a written Request for Exclusion from the Settlement Class, addressed to TechnipFMC Securities Litigation, EXCLUSIONS, c/o JND Legal Administration, P.O. Box 91369, Seattle, WA, 98111 0107.  The exclusion request must be received no later than February 26, 2021.  You will not be able to exclude yourself from the Settlement Class after that date.  Each Request for Exclusion must: (a) state the name, address and telephone number of the person or entity requesting exclusion, and in the case of entities the name and telephone number of the appropriate contact person; (b) state that such person or entity “requests exclusion from the Settlement Class in Prause v.TechnipFMC plc, et al., Case No. 4:17-cv-02368”; (c) identify and state the number of each TechnipFMC Security (in terms of shares) that the person or entity requesting exclusion purchased/acquired and/or sold during the Settlement Class Period (i.e., between January 16, 2017 and July 24, 2017, inclusive), as well as the dates and prices of each such purchase/acquisition and sale; and (d) be signed by the person or entity requesting exclusion or an authorized representative.  A Request for Exclusion shall not be valid and effective unless it provides all the information called for in this paragraph and is received within the time stated above, or is otherwise accepted by the Court.

    If you do not want to be part of the Settlement Class, you must follow these instructions for exclusion even if you have pending, or later file, another lawsuit, arbitration, or other proceeding relating to any Released Plaintiffs’ Claim against any of the Defendants’ Releasees.

    If you ask to be excluded from the Settlement Class, you will not be eligible to receive any payment out of the Net Settlement Fund.

    Defendants have the right to terminate the Settlement if valid requests for exclusion are received from persons and entities entitled to be members of the Settlement Class in an amount that exceeds an amount agreed to by the Class Representative and Defendants.

  • Settlement Class Members do not need to attend the Settlement Hearing.  The Court will consider any submission made in accordance with the provisions below even if a Settlement Class Member does not attend the hearing.  You can participate in the Settlement without attending the Settlement Hearing.

    The Settlement Hearing will be held on March 19, 2021 at 10:00 a.m., before the Honorable Alfred H. Bennett in Courtroom 8C of the United States District Court for the Southern District of Texas, Bob Casey United States Courthouse, 515 Rusk Avenue, Houston, TX 77002.  The Court reserves the right to approve the Settlement, the Plan of Allocation, Class Counsel’s motion for an award of attorneys’ fees and reimbursement of Litigation Expenses and/or any other matter related to the Settlement at or after the Settlement Hearing without further notice to the members of the Settlement Class.

    Any Settlement Class Member who or which does not request exclusion may object to the Settlement, the proposed Plan of Allocation or Class Counsel’s motion for an award of attorneys’ fees and reimbursement of Litigation Expenses.  Objections must be in writing.  You must file any written objection, together with copies of all other papers and briefs supporting the objection, with the Clerk’s Office at the United States District Court for the Southern District of Texas at the address set forth below on or before February 26, 2021.  You must also serve the papers on Class Counsel and on Defendants’ Counsel at the addresses set forth below so that the papers are received on or before February 26, 2021.

     

    Clerk's Office
    U.S. District Court
    Southern District of Texas
    David J. Bradley
    Clerk of the Court
    P.O. Box 61010
    Houston, TX 77208-1010

    Class Counsel
    Pomerantz LLP
    Jeremy A. Lieberman, Esq.
    600 Third Avenue,
    20th Floor
    New York, NY 10016

    Defendants’ Counsel
    Latham & Watkins LLP
    Peter A. Wald, Esq.
    505 Montgomery Street
    San Francisco, CA 94111

    Any objection: (a) must state the name, address and telephone number of the person or entity objecting and must be signed by the objector; (b) must contain a statement of the Settlement Class Member’s objection or objections, and the specific reasons for each objection, including any legal and evidentiary support the Settlement Class Member wishes to bring to the Court’s attention; and (c) must include documents sufficient to prove membership in the Settlement Class, including the number of each TechnipFMC Security (in terms of shares) that the objecting Settlement Class Member purchased/acquired and/or sold during the Settlement Class Period (i.e., between January 16, 2017 and July 24, 2017, inclusive), as well as the dates and prices of each such purchase/acquisition and sale.  You may not object to the Settlement, the Plan of Allocation or Class Counsel’s motion for attorneys’ fees and reimbursement of Litigation Expenses if you exclude yourself from the Settlement Class or if you are not a member of the Settlement Class.

    You may file a written objection without having to appear at the Settlement Hearing.  You may not, however, appear at the Settlement Hearing to present your objection unless you first file and serve a written objection in accordance with the procedures described above, unless the Court orders otherwise.

    If you wish to be heard orally at the hearing in opposition to the approval of the Settlement, the Plan of Allocation or Class Counsel’s motion for an award of attorneys’ fees and reimbursement of Litigation Expenses, and if you timely file and serve a written objection as described above, you must also file a notice of appearance with the Clerk’s Office and serve it on Class Counsel and Defendants’ Counsel at the addresses set forth above so that it is received on or before February 26, 2021.  Persons who intend to object and desire to present evidence at the Settlement Hearing must include in their written objection or notice of appearance the identity of any witnesses they may call to testify and exhibits they intend to introduce into evidence at the hearing.  Such persons may be heard orally at the discretion of the Court.

    You are not required to hire an attorney to represent you in making written objections or in appearing at the Settlement Hearing.  However, if you decide to hire an attorney, it will be at your own expense, and that attorney must file a notice of appearance with the Court and serve it on Class Counsel and Defendants’ Counsel at the addresses set forth in ¶ 76 of the Notice so that the notice is received on or before February 26, 2021.

    The Settlement Hearing may be adjourned by the Court without further written notice to the Settlement Class.  If you intend to attend the Settlement Hearing, you should confirm the date and time with Class Counsel.

    Unless the Court orders otherwise, any Settlement Class Member who does not object in the manner described above will be deemed to have waived any objection and shall be forever foreclosed from making any objection to the proposed Settlement, the proposed Plan of Allocation or Class Counsel’s motion for an award of attorneys’ fees and reimbursement of Litigation Expenses.  Settlement Class Members do not need to appear at the Settlement Hearing or take any other action to indicate their approval.

     
  • If you purchased or otherwise acquired any of the TechnipFMC Securities between January 16, 2017 and July 24, 2017, inclusive, for the beneficial interest of persons or organizations other than yourself, you must either: (a) within seven (7) calendar days of receipt of the Notice, request from the Claims Administrator sufficient copies of the Notice to forward to all such beneficial owners and within seven (7) calendar days of receipt of those Notices forward them to all such beneficial owners; or (b) within seven (7) calendar days of receipt of the Notice, provide a list of the names and addresses of all such beneficial owners to TechnipFMC Securities Litigation, c/o JND Legal Administration, P.O. Box 91369, Seattle, WA, 98111-0107.  If you choose the second option, the Claims Administrator will send a copy of the Notice to the beneficial owners.  Upon full compliance with these directions, such nominees may seek reimbursement of their reasonable expenses actually incurred, up to a maximum of $0.50 per notice, by providing the Claims Administrator with proper documentation supporting the expenses for which reimbursement is sought.  Any dispute concerning the reasonableness of reimbursement costs shall be resolved by the Court.  Copies of the Notice and the Claim Form may be obtained from the Important Documents page of this website maintained by the Claims Administrator or by calling the Claims Administrator toll-free at 1-877 545 0232.

  • The Notice contains only a summary of the terms of the proposed Settlement.  For more detailed information about the matters involved in this Action, you are referred to the papers on file in the Action, including the Stipulation, which may be inspected during regular office hours at the Office of the Clerk, United States District Court for the Southern District of Texas, Bob Casey United States Courthouse, 515 Rusk Avenue, Houston, TX 77002.  Additionally, copies of the Stipulation and any related orders entered by the Court will be posted on the Important Documents page of this website maintained by the Claims Administrator.

    All inquiries concerning the Notice and the Claim Form should be directed to the Claims Administrator or Co-Lead Counsel at:

    TechnipFMC Securities Litigation
    c/o JND Legal Administration
    P.O. Box 91369
    Seattle, WA 98111-0107
    1-877-545-0232
    info@TechnipFMCSecuritiesLitigation.com

    and/or
     

    Jeremy A. Lieberman, Esq.
    POMERANTZ LLP
    600 Third Avenue, 20th Floor
    New York, NY 10016
    (212) 661-1100
    jalieberman@pomlaw.com

     

    DO NOT CALL OR WRITE THE COURT, THE OFFICE OF THE CLERK OF THE COURT, DEFENDANTS OR THEIR COUNSEL REGARDING THE NOTICE.

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TechnipFMC Securities Litigation
c/o JND Legal Administration
P.O. Box 91369
Seattle, WA 98111-0107