SEATTLE, July 25, 2024 /PRNewswire/ —

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

SUMMARY NOTICE OF PENDENCY AND
PROPOSED SETTLEMENT OF CLASS ACTION

TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED CABOT OIL & GAS CORPORATION (“CABOT“) COMMON STOCK BETWEEN FEBRUARY 22, 2016, AND JUNE 12, 2020, INCLUSIVE, AND WERE DAMAGED THEREBY (“CLASS” OR “CLASS MEMBERS”)

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of Texas (“Court”), that the above-captioned action (“Litigation”) has been certified as a class action, except for certain persons and entities who are excluded from the Class by definition as set forth in the Stipulation of Settlement dated June 3, 2024 (“Stipulation”) and the detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”). The Stipulation and Notice can be viewed at www.CabotOilSecuritiesLitigation.com.

YOU ARE ALSO HEREBY NOTIFIED that Delaware County Employees Retirement System and Iron Workers District Counsel (Philadelphia and Vicinity) Retirement and Pension Plan (together, “Plaintiffs”), and defendants Cabot, Dan O. Dinges, and Scott C. Schroeder (collectively, “Defendants”) have reached a proposed settlement of the Litigation on behalf of the Class for $40 million in cash (“Settlement”).  If approved by the Court, the Settlement will resolve all claims in the Litigation.

YOU ARE ALSO HEREBY NOTIFIED that a hearing will be held on October 24, 2024, at 3:00 p.m., before the Honorable Lee H. Rosenthal at the United States District Court, Southern District of Texas, Houston Division, Bob Casey United States Courthouse, 515 Rusk Street, Houston, TX  77002, to determine whether: (1) the Settlement of the above-captioned Litigation as set forth in the Stipulation for $40 million in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Judgment as provided under the Stipulation should be entered dismissing the Litigation with prejudice; (3) to award Plaintiffs’ Counsel attorneys’ fees and expenses out of the Settlement Fund (as defined in the Notice) and, if so, in what amounts; (4) to award Plaintiffs their costs and expenses in representing the Class out of the Settlement Fund and, if so, in what amounts; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable, and adequate.

There exists the possibility that the Court may decide to change the date and/or time of the Settlement Hearing, conduct the hearing by video or telephonic conference, or otherwise allow Class Members to appear at the hearing by telephone or videoconference, without further written notice to the Class.  It is important that you check the website, www.CabotOilSecuritiesLitigation.com, before making any plans to attend the Settlement Hearing.  Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or telephonic appearances at the hearing, will be posted to the website.  Also, if the Court requires or allows Class Members to participate in the hearing by telephone or videoconference, the access information will be posted to the website.

If you purchased or otherwise acquired Cabot common stock between February 22, 2016, and June 12, 2020, inclusive, and were damaged thereby, your rights are affected by the settlement of this Litigation.

To share in the distribution of the Net Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form (“Proof of Claim”) by mail (postmarked no later than October 16, 2024) or electronically via the website (no later than October 16, 2024).[1]  Failure to submit your Proof of Claim by October 16, 2024, will subject your claim to rejection and preclude you from receiving any of the recovery in connection with the Settlement of this Litigation.  If you are a Class Member and do not request exclusion from the Class (as described below), you will be bound by the Settlement and any judgment and releases entered in the Litigation, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim.

The Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), the Proof of Claim, the Stipulation (which, among other things, contains definitions for the capitalized terms used in this Summary Notice), and other important documents, may be accessed online at www.CabotOilSecuritiesLitigation.com, or by writing to:

Cabot Oil Securities Litigation
Claims Administrator
c/o JND Legal Administration
P.O. Box 91217
Seattle, WA  98111

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.

Inquiries, other than requests for the Notice or for a Proof of Claim, may be made to Class Counsel:

ROBBINS GELLER RUDMAN & DOWD LLP
Ellen Gusikoff Stewart
655 West Broadway, Suite 1900
San Diego, CA 92101
Telephone: 800/449-4900
[email protected]

KESSLER TOPAZ MELTZER & CHECK, LLP
Andrew L. Zivitz
280 King of Prussia Road
Radnor, PA  19087
Telephone: 610/667-7706
[email protected]

If you desire to be excluded from the Class, you must submit a request for exclusion such that it is postmarked by October 3, 2024, in the manner and form explained in the Notice.  If you properly exclude yourself from the Class, you will not be bound by any releases, judgments, or orders entered by the Court in the Litigation and you will not receive any benefits from the Settlement.  Excluding yourself from the Class is the only option that may allow you to be part of any other current or future lawsuit against Defendants or any of the other Released Defendant Parties concerning the claims being resolved by the Settlement.

If you are a Class Member, you have the right to object to the Settlement, the Plan of Allocation, the request by Class Counsel for an award of attorneys’ fees not to exceed 33-1/3% of the $40 million Settlement Amount and expenses not to exceed $1,750,000, plus interest on both amounts, and/or the request for an award to Plaintiffs for their costs and expenses.  Any objections must be filed with the Court and sent to Class Counsel and Defendants’ Counsel by October 3, 2024, in the manner and form explained in the Notice.

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF TEXAS

¹ Proofs of Claim, requests for exclusion, objections, and other correspondence that are legibly postmarked will be treated as received on the postmark date. Please be advised that the U.S. Postal Service may not postmark mail which is not presented in person.

SOURCE JND Legal Administration