Strack vs Continental lawsuit

#1

Hello, Has anyone received a settlement check on this lawsuit? I have tried to call and email them to find out the status of a check and they have not responded. Thank you.

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#2

I just got a whopping $9.00 check about a week ago. Ecstatic…

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#3

Received a settlement check the middle of September.

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#4

I also got a check in the middle of September

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#5

Thanks for the info!

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#6

As of September 13, 2018, the distribution to the Sub-Class 1 Class Members has begun. The distribution by Continental Resources started with payments to those royalty owners who normally receive royalty payments through direct electronic deposit. Distribution checks to the remaining Sub-Class 1 Class Members, with good mailing addresses, are scheduled to be mailed on September 14, 2018. Please allow until at least until September 21, 2018 before contacting the Settlement Administrator about the status of your distribution. Please do not contact Continental Resources about your Sub-Class 1 settlement payment, all inquiries should be directed to the Settlement Administrator.

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#7

The settlement administrator site is at http://strackvscontinental.com/.

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#8

My brother received his check four weeks ago. I called on the status of my check was told I had to send an email and it would be answered in the order they were received. It has been four weeks and no response.

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#9

Yes, direct deposit on 09.14.2018 (+$2k!..I knew they had been late on payments!!)

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#10

The settlement administrator is failing to do their job. My check was mailed to my maiden name to an old address. Continental resource referred me directly to the attorney. 405-360-6191 Burns and Stowers. I am hoping not to pay taxes on money I have not received.

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#11

Thank you for the contact info!

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#12

I can’t get Burns and Stowers to return my calls on this. Did anybody else have any luck with them?

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#13

Email worked for me dburns@burnsstowers.com

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#14

What phone number are you using?

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#15

Regarding the settlement payments- doe s anyone know- or have received a 1099 on those payments as a separate one from all regular royalty payments?

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#16

1099 MISC for royalty payments (box #2) also included the direct deposit from the settlement (box #3) A separate 1099 form is mailed for saltwater disposal. A third form 1099 was mailed out for the well(s) that were closed and a check was mailed for the settlement (not direct deposit). The third tax form would be made payable to your name and address at the time the well(s) were closed. If your name changed and your address changed you probably did not receive the settlement check for closed well(s) and will have to wait till they go back to court to report what was paid and what was not. Then it will be up to the court to approve reissue the checks to the appropriate name and address and a tax form for 2019 would be issued in 2020. I know this because my sister received her check under her married name now she is divorced but still resides at the same address. I did not receive my check because it was mailed to an old address (I sold that home in 2012) and my maiden name. Personally I’m still concerned about this because I do not want to pay taxes on money I did not receive. I have been assured by the attorney I will not and should receive what my sister received in a few months after it goes back to court for review. What a mess

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#17

Thank you for the information!

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#18

To anyone who received a Strack settlement payment in 2018: would you agree that this money really constitutes a belated royalty payment–that is, money Continental held out as “deductions” back in the day, but the court has it said should have gone to owners as royalty? That would seem to make the 2018 payment eligible for depletion deduction.

I can see why CLR wouldn’t want to put the amount in the Royalty box of its 1099–perhaps by calling it “Other Income,” they avoid admitting to anything. Still, it seems that back royalties are what these payments are.

I’d be especially interested if your CPA/tax person held the same view!

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