Welcome to the Snider v. Seventy Seven Energy Settlement Website
NOTICE OF PROPOSED CLASS ACTION SETTLEMENT
A federal court has authorized this Notice. This is not a solicitation from a lawyer.
You are receiving this notice (the “Notice”) because our records indicate that you have been a participant in a 401(k) Plan involved in the lawsuit summarized below and invested some or all of your Plan account in Chesapeake Energy Corporation stock (“Chesapeake Stock”). As such, your rights may be affected by a proposed settlement of the class action litigation in the U.S. Federal Court for the Western District of Oklahoma titled Christopher Snider v. Administrative Committee, Seventy Seven Energy Inc. Retirement & Savings Plan, et al., Case No. CIV-20-977-D, in the United States District Court for the Western District of Oklahoma (the “Action”). The plans involved in the Action are the Seventy Seven Energy Inc. Retirement & Savings Plan, Seventy Seven Energy LLC Retirement & Savings Plan, and the Patterson-UTI Energy, Inc. 401(k) Profit Sharing Plan (collectively, the “Plan”).
The Notice summarizes the proposed Settlement. You can read a full length version of the Notice here.
UPDATE: You may have received in the mail a letter requesting that you submit an executed Substitute IRS Form W-9. You were sent this letter because as the Settlement Administrator the Internal Revenue Service requires us to send a Form 1099-MISC for every settlement payment that exceeds $600.00. To generate that form, we must validate your Social Security Number (“SSN”) or Taxpayer Identification Number (“TIN”). Please note that we are requesting this information solely for the purpose of processing your payment from this Settlement. Your information will not be used for any purpose other than for required government tax reporting. You can submit your W9 form here.