Monteverde & Associates PC Announces Proposed Class Action Settlement on Behalf of All Holders of Jernigan Capital, Inc. Common Stock

Monteverde & Associates PC Announces Proposed Class Action Settlement on Behalf of All Holders of Jernigan Capital, Inc. Common Stock

PR Newswire

NEW YORK, Sept. 13, 2024

NEW YORK, Sept. 13, 2024 /PRNewswire/ -- TO:     RECORD AND BENEFICIAL HOLDERS OF JERNIGAN CAPITAL, INC. ("JERNIGAN CAPITAL") COMMON STOCK FROM AUGUST 3, 2020, THROUGH AND INCLUDING NOVEMBER 6, 2020, THE DATE OF THE CONSUMMATION OF JERNIGAN CAPITAL'S MERGER WITH NEXTPOINT ADVISORS, L.P. (THE "MERGER"), INCLUDING ANY AND ALL OF THEIR RESPECTIVE SUCCESSORS-IN-INTEREST, SUCCESSORS, PREDECESSORS-IN-INTEREST, PREDECESSORS, REPRESENTATIVES, TRUSTEES, EXECUTORS, ADMINISTRATORS, ESTATES, HEIRS, ASSIGNS AND TRANSFEREES, IMMEDIATE AND REMOTE, AND ANY PERSON OR ENTITY ACTING FOR OR ON BEHALF OF, OR CLAIMING UNDER, ANY OF THEM, AND EACH OF THEM, TOGETHER WITH THEIR PREDECESSORS-IN-INTEREST, PREDECESSORS, SUCCESSORS-IN-INTEREST, SUCCESSORS, AND ASSIGNS (THE "CLASS").

            THE PARTIES TO A SHAREHOLDER CLASS ACTION SUIT CONCERNING THE MERGER HAVE AGREED TO A PROPOSED SETTLEMENT. YOU MAY BE ENTITLED TO COMPENSATION AS A RESULT OF THE PROPOSED SETTLEMENT IN THE BELOW CAPTIONED:

            IN RE JERNIGAN CAPITAL, INC., SHAREHOLDER LITIGATION, Lead Case No. CH-20-1472-II

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Court, that the above-captioned action has been provisionally certified as a class action and that a settlement for $3,925,000.00 has been proposed (the "Settlement"). Under the Settlement, the settlement amount, minus any Court-approved attorneys' fees not to exceed one third of the Settlement Fund, and incentive awards of $5,000.00 for each Plaintiff, expenses not to exceed $100,000.00, will be distributed on a per share basis to Class members who owned shares of Jernigan Capital common stock from August 3, 2020, through and including November 6, 2020, the date of the consummation of the Merger. A hearing will be held before Chancellor James R. Newsom III, at the Chancery Court for the State of Tennessee for the Thirteenth Judicial District in Memphis, Shelby County Courthouse, via Zoom at: https://www.zoomgov.com/j/16020156999?pwd=aitzNDBDOWFLb08xWHRsZDA4RkN0dz0

(Meeting ID: 160 2015 6999 / Passcode: Bike), at 10:30 AM Central Time on December 13, 2024, to determine whether the Settlement should be approved by the court as fair, reasonable, and adequate, and to consider the application of Co-Lead Counsel for attorneys' fees and reimbursement of expenses and incentive awards for the named Plaintiffs (the "Settlement Hearing").

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT. IF THE COURT APPROVES THE SETTLEMENT, YOU WILL BE FOREVER BARRED FROM PURSUING THE RELEASED CLAIMS. You may obtain copies of the Stipulation of the Agreement of Settlement, Compromise, and Release, a detailed Notice of Pendency of Class Action, Proposed Settlement, Settlement Hearing, and Right to Appear (the "Notice"), and instructions concerning your right to appear and object to the Settlement or award of attorneys' fees by visiting https://www.rg2claims.com/jernigan.html or contacting Co-Lead Counsel:

MONTEVERDE & ASSOCIATES PC
Juan E. Monteverde
The Empire State Building
350 Fifth Avenue, Suite 4740
New York, NY 10118
Tel: (212) 971-1341
Fax: (212) 202-7880

KAHN SWICK & FOTI, LLC
Michael J. Palestina
1100 Poydras St., Suite 960
New Orleans, LA 70163
Tel: (504) 648-1843
Fax: (866) 467-1400

As described more fully in the Notice, you need not file a written objection in order to object and may appear at the Settlement Hearing personally to make an oral objection. In the event there is a written objection it shall be filed with the Court and served upon Co-Lead Counsel above such that they are received no later than twenty-one (21) calendar days prior to the Settlement Hearing, or no later than November 22, 2024.

If you want to be excluded from the Class and Settlement, you must make a request in writing no later than twenty-one (21) calendar days prior to the Settlement Hearing, or no later than November 22, 2024.

Further information may be obtained by contacting the Co-Lead Counsel listed above.

PLEASE DO NOT CALL THE COURT.

By Order of The Court

View original content to download multimedia:https://www.prnewswire.com/news-releases/monteverde--associates-pc-announces-proposed-class-action-settlement-on-behalf-of-all-holders-of-jernigan-capital-inc-common-stock-302248086.html

SOURCE Monteverde & Associates PC