Ashley Energy Class Action
A proposed settlement has received preliminary approval in the Ashley Energy class action lawsuit. The class action lawsuit alleged that Defendants (1) committed common law fraud by fraudulently completing, or causing to be completed, monthly statements of expenses incurred in the oil projects; (2) breached their duty of good faith and fair dealing by causing plaintiff and members of the class to be charged expenses for the operation of the oil projects, which are excessive, exaggerated, false, or otherwise not based on actual time and cost of operating the oil projects; (3) breached written operating agreement contracts with plaintiff and members of the class; and (4) violated the Illinois Consumer Fraud and Deceptive Business Practices Act by fraudulently completing, or causing to be completed, monthly statements of expenses incurred in the oil projects. Defendants deny any wrongdoing.
If you received a Notice of Class Action and Proposed Settlement, records indicate that you may have had a working interest in at least one of the three oil projects discussed in the suit. To recover funds for which you may be entitled to based upon your past or current working interest in one of those three projects, please submit a claim form pursuant to specifications found in the Notice of Class Action and Proposed Settlement at pages 7 and 8. If you wish to exclude yourself from the settlement, please follow the requirements articulated in the Notice of Class Action and Proposed Settlement on page 9.
The Notice of Class Action and Proposed Settlement can be found below with other documents relevant to the proposed settlement. If you have additional questions pertaining to this proposed settlement, you may contact Class Counsel at 217-429-4296.
Notice of Class Action and Proposed Settlement
Settlement Agreement and Release
Preliminary Approval Order