I received a card in the mail regarding GOP, LLC vs Merit Energy Co. it is about a proposed class action settlement. Does anyone know if this is legit and give me more information about it?
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The card should have a reference to a website to access detailed data about the lawsuit and terms of settlement. You will be able to see which wells are involved and how the funds will be distributed. You can download all the pages and read them on your computer. Most of these settlements will include your interests unless you actively opt-out by the specified process. The settlement will cover all royalty claims from claim date up through the present. Most royalty owners receive very little, but unless your interests are large, it would not be economic to file your own lawsuit.
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Toss it in the trash. You will get a check when it is over.
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I have also received the notice of the class-action lawsuit against Merit. The trial is scheduled to take place sometime this month, I believe. It is noteworthy that the three wells that I own minerals under were Questar wells before Merit acquired them. I inherited these wells from my mother, and Questar had to pay a few thousand dollars to my mother. Merit owned them until a few years ago and subsequently sold them to Daylight. However, these wells produced oil for several years under Merit’s ownership. You are not obligated to take action on this matter after the trial’s outcome and the determination of the settlement amount. You will receive a check, but it may take some time to arrive. After the settlement of the lawsuit and the calculation of the amount Merit owes to the royalty owners, you will receive further communication providing you with information that will enable you to contact a company to obtain details about the timeline and other relevant matters.