ENTWISTLE & CAPPUCCI LLP RECEIVES FINAL APPROVAL OF SETTLEMENT OF CLASS ACTION AGAINST ALTA MESA RESOURCES, INC.

May 6, 2025

On May 6, 2025, the United States District Court for the Southern District of Texas entered an Order and Final Judgment approving the $126.3 million cash settlement of the action, captioned In Re Alta Mesa Resources, Inc., Securities Litigation, No. 19-cv-00957.  Entwistle & Cappucci serves as Lead Counsel in this litigation against Alta Mesa Resources, Inc. (“Alta Mesa” or the “Company”); Riverstone Holdings LLC; ARM Energy, Holdings, LLC; Bayou City Energy Management LLC; HPS Investment Partners, LLC; and related Defendants.

The settlement is the result of vigorous prosecution of the action by Entwistle & Cappucci and its Co-Lead Counsel, and represents an outstanding result for the Class.  In fact, the $126.3 million recovery constitutes the largest-ever securities class action recovery involving a special purpose acquisition company (SPAC).  The settlement was negotiated with the assistance of former United States District Court Judge Layn R. Phillips, who served as mediator.

The Class includes individuals and entities that (1) were entitled to vote on the Alta Mesa going-public transaction, which was accomplished by way of the SPAC then known as Silver Run Acquisition Corporation II; and/or (2) purchased securities of the SPAC or the post-de-SPAC company, Alta Mesa Resources, Inc., during the period from August 16, 2017 through May 17, 2019, inclusive.

The plaintiffs filed their Motion for Final Approval of Class Action Settlement on March 26, 2025.  A settlement hearing was held on April 30, 2025.  The settlement was approved by order of the Court on May 6, 2025.  No objections to the settlement were reported.

Copies of documents related to the settlement can be found on the settlement website maintained by claims administrator:  www.AltaMesaSecuritiesLitigation.com.