Record filed of jury's verdicts for defense in gas royalty case | Arkansas Blog

Monday, June 19, 2017

Record filed of jury's verdicts for defense in gas royalty case

Posted By on Mon, Jun 19, 2017 at 10:19 AM

I reported over the weekend a defense verdict in the class-action lawsuit by gas royalty owners against Southwestern Energy and related companies in federal court.

The jury got the case Friday afternoon and deliberated until 9 p.m. or so before returning its verdict.

Still no word on potential appeal, whether life will be restored in a class action claim with a proposed $45 settlement in state court that was terminated when this case went to trial or whether federal Judge Brian Miller will issue a ruling in an allegation by plaintiffs' lawyers in the federal case that lawyers in the state case had colluded on a settlement better for lawyers and the gas company than property owners.

For now, a spokesman for Southwestern says she's unable to comment on the status of the state case, which remains pending litigation, but she's attempting to provide some insight procedurally on what might come next.

As for Friday's verdict, the company issued this statement

We are very pleased with the outcome of the case. We value our relationships with our landowners, and the hard-working jury agreed that we honored the terms of our leases. We hope this verdict will put this long-standing litigation to rest. 
The company also filed notice with the SEC of the case outcome. It said:

On June 16, 2017 the jury returned a verdict in favor of Southwestern Energy Company (the “Company”) and certain of its subsidiaries in the federal class action lawsuit regarding royalty deductions in Arkansas, which most recently was described in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 and the Current Report on Form 8-K filed on June 6, 2017. The verdict remains subject to post-trial motions before judgment is entered.

The plaintiff class in this lawsuit comprises a substantial majority of similarly situated lessors of lands in Arkansas, most of whom are named plaintiffs or members of classes in other lawsuits described in the Company’s Form 10-Q for the quarter ended March 31, 2017. The Company currently does not anticipate that those other cases are likely to have a material adverse effect on the results of operations, financial position or cash flows of the Company and its subsidiaries taken as a whole.

Tags: , , , ,

From the ArkTimes store


Comments (2)

Showing 1-2 of 2

Add a comment

Subscribe to this thread:
Showing 1-2 of 2

Add a comment

More by Max Brantley

  • An open line for Sunday

    An open line.
    • Sep 24, 2017
  • City plans more spending on 30 Crossing

    The Little Rock City Board meets Tuesday to set an agenda for the following week and among the "consent" items is a new $175,000 with Nelson/Nygaard consultants to "assist with a comprehensive review" of the 30 Crossing project, otherwise known as the bigger concrete ditch the Department of Transportation wants to tear through the heart of Little Rock.
    • Sep 24, 2017
  • NFL owners rise to defense of players against Trump and false patriots

    Many football team owners have risen to the defense of players against Donald Trump criticism as yet another racially fraught issue seems likely to gain increasing heat thanks to Trump's rhetoric.
    • Sep 24, 2017
  • More »

Readers also liked…

Most Shared

  • ASU to reap $3.69 million from estate of Jim and Wanda Lee Vaughn

    Arkansas State University announced today plans for spending an expected $3.69 million gift in the final distribution of the estate of Jim and Wanda Lee Vaughn, who died in 2013 and 2015 respectively.
  • Bad health care bill, again

    Wait! Postpone tax reform and everything else for a while longer because the Senate is going to try to repeal and replace the Affordable Care Act one more time before September ends and while it can do it with the votes of only 50 senators.
  • Sex on campus

    Look, the Great Campus Rape Crisis was mainly hype all along. What Vice President Joe Biden described as an epidemic of sexual violence sweeping American college campuses in 2011 was vastly overstated.
  • The inadequate legacy of Brown

    LRSD continues to abdicate its responsibility to educate poor black students.

Most Viewed

Most Recent Comments

  • Re: An open line for Sunday

    • Good Doonesbury today-- "Why would there be a whole movement against something that obvious?"……

    • on September 24, 2017
  • Re: Arlington owners protest threat of closure

    • The property at 419 Prospect is a very good example of a complete restoration that…

    • on September 24, 2017
  • Re: An open line for Sunday

    • The cutting edge of freedom was reached this week , the Mormon church has Allowed…

    • on September 24, 2017



© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation