T. Jeffrey Simpson, et al v. Homestore.Com, Inc., et al, No. 2:2001cv11115 - Document 1407 (C.D. Cal. 2011)

Court Description: FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE REGARDING TIME WARNER INC by Judge Ronald S.W. Lew. This matter has come before the Court to determine whether there is any cause why this Court should not approve the Settlement ("Settlement& quot;) set forth in the Stipulation of Settlement and Settlement Agreement with Time Warner Inc ("Time Warner") dated as of May 14, 2007 ("Stipulation") relating to the above captioned litigation. The Court hereby finally approves and confirms the Settlement set forth in the Stipulation and finds that said Settlement is, in all respects, fair, reasonable and adequate to the Class pursuant to Rule 23 of the Federal Rules of Civil Procedure. The Court finds that the Settlement was negotiated at arm's length and in good faith and that the parties complied with the requirements of Rule 11. This Court hereby dismisses on the merits and with prejudice the Action in favor of Time Warner, with Time Warner to bear its own c osts and attorneys' fees. The Released Time Warner Parties (as defined in the Stipulation) are hereby and forever released and discharged with respect to any and all claims or causes of action that the Lead Plaintiff and Members of the Class had or have arising out of or related to any of the Settled Claims as defined in the Stipulation. (Refer to attached document for details.) (lom)

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T. Jeffrey Simpson, et al v. Homestore.Com, Inc., et al Doc. 1407 1 2 3 4 5 6 7 UNITED STATES DISTRICT COURT 8 CENTRAL DISTRICT OF CALIFORNIA 9 In re: 10 HOMESTORE.COM, INC. SECURITIES LITIGATION 11 Plaintiff, 12 13 This Document Relates 14 To: 15 All Actions 16 17 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) Master File No. CV 01-11115-RSWL (CWx) FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE REGARDING TIME WARNER INC. This matter has come before the Court to determine 18 whether there is any cause why this Court should not 19 approve the Settlement (“Settlement”) set forth in the 20 Stipulation of Settlement and Settlement Agreement with 21 Time Warner Inc (“Time Warner”) dated as of May 14, 22 2007 (“Stipulation”) relating to the above captioned 23 litigation. The Court, after carefully considering all 24 papers filed and proceedings held herein and otherwise 25 being fully informed in the premises, has determined 26 (1) that the Settlement should be approved and (2) that 27 there is no just reason for delay of the entry of this 28 Final Judgment approving this settlement. Accordingly, 1 Dockets.Justia.com 1 the Court directs entry of Judgment, which shall 2 constitute final adjudication of this Litigation on the 3 merits as to the parties to the Settlement. Good cause 4 appearing therefore, it is hereby: 5 ORDERED, ADJUDGED AND DECREED THAT: 6 1. This Court has jurisdiction over the subject 7 matter of this litigation, all parties to this 8 litigation, and over the parties to the Stipulation, 9 including all members of the Class, Time Warner, and 10 the Released Time Warner Parties. 11 2. The definitions and terms set forth in the 12 Stipulation are incorporated hereby as though fully set 13 forth in this Judgment. 14 3. The Court hereby finally approves and confirms 15 the Settlement set forth in the Stipulation and finds 16 that said Settlement is, in all respects, fair, 17 reasonable and adequate to the Class pursuant to Rule 18 23 of the Federal Rules of Civil Procedure. The Court 19 finds that the Settlement was negotiated at arm’s 20 length and in good faith and that the parties complied 21 with the requirements of Rule 11. 22 4. This Court hereby dismisses on the merits and 23 with prejudice the Action in favor of Time Warner, with 24 Time Warner to bear its own costs and attorneys’ fees. 25 5. The Released Time Warner Parties (as defined in 26 the Stipulation) are hereby and forever released and 27 discharged with respect to any and all claims or causes 28 of action that the Lead Plaintiff and Members of the 2 1 Class had or have arising out of or related to any of 2 the Settled Claims as defined in the Stipulation. 3 6. The Court has considered and approves the Bar 4 Order language proposed in the Stipulation as follows: 5 a. All claims for contribution and 6 indemnification, however denominated, 7 against Released Time Warner Parties 8 arising under the federal securities laws, 9 state law, or common law with respect to 10 the events that are the subject of the 11 Action, in favor of the persons, including 12 but not limited to the Individual 13 Defendants, Dismissed Defendants and Other 14 Settling Defendants in this Action who are 15 alleged to be responsible for or jointly 16 responsible with Released Time Warner 17 Parties in any manner in the Settled 18 Claims and based upon liability for, or 19 arising out of or relating in any way to, 20 the Settled Claims are extinguished, 21 discharged, barred, satisfied and/or 22 otherwise unenforceable. 23 b. All persons, including but not limited 24 to the Individual Defendants, 25 Dismissed Defendants and Other 26 Settling Defendants, are hereby barred 27 and permanently enjoined, to the 28 fullest extent allowed by law, from 3 1 asserting, instituting or prosecuting 2 in any capacity, before any court or 3 governmental agency, any action or 4 proceeding against Released Time 5 Warner Parties for equitable, partial, 6 comparative, or complete contribution, 7 subrogation, or indemnity, however 8 denominated, based upon liability for, 9 or arising out of or relating in any 10 way to the Settled Claims, and the 11 Court finds that all such claims are 12 extinguished, discharged, satisfied 13 and made unenforceable. 14 c. All claims by Released Time Warner 15 Parties for contribution and 16 indemnification, however denominated, 17 arising under the federal securities 18 laws, state law or common law with 19 respect to the events that are the 20 subject of the Actions, against any 21 person (including but not limited to 22 the Individual Defendants, Dismissed 23 Defendants and Other Settling 24 Defendants in this Action) other than 25 a person whose liability has been 26 extinguished by the settlement of 27 Released Time Warner Parties, and 28 based upon liability for, or arising 4 1 out of or relating in any way to, the 2 Settled Claims are extinguished, 3 discharged, barred, satisfied and/or 4 otherwise unenforceable. 5 d. Pursuant to 15 U.S.C. §78u-4(f)(7)(B), 6 if there is a final verdict or 7 judgment against any non-settling 8 defendant in this Action, the verdict 9 of judgment shall be reduced by the 10 greater of: (a) an amount that 11 corresponds to the percentage of 12 responsibility of Released Time Warner 13 Parties; or (b) the amount paid to for 14 the benefit of the Plaintiff Class by 15 Time Warner. 16 e. The remaining portions of 15 U.S.C. 17 §78u-4(f) on proportionate liability 18 shall apply hereto where applicable. 19 20 7. The notice given to the Class of the Settlement 21 set forth in the Stipulation and the other matters set 22 forth herein was the best notice practicable under the 23 circumstances, including individual notice to all 24 Members of the Class who could be identified through 25 reasonable efforts. Said notice provided due and 26 adequate notice of these proceedings and of the matters 27 set forth therein, including the proposed Settlement 28 set forth in the Stipulation, to all persons entitled 5 1 to such notice, and said notice fully satisfied the 2 requirements of Rules 23(c)(2) and 23(e) of the Federal 3 Rules of Civil Procedure and the requirements of due 4 process. 5 8. Without affecting the finality of this Judgment 6 in any way, this Court hereby retains continuing 7 jurisdiction over: (a) implementation of this 8 Settlement and any distribution to Class Members 9 pursuant to further orders of this Court; (b) 10 disposition of the Settlement Fund; (c) hearing and 11 determining applications by the Representative 12 Plaintiff for reimbursement of expenses related to 13 Claims Administration, including expert fees and costs, 14 and interest; (d) the Class Actions until the final 15 judgment contemplated hereby has become effective and 16 each and every act agreed to be performed by the 17 parties has been performed pursuant to the Stipulation; 18 (e) hearing and ruling on any issues concerning the 19 proposed Plan of Allocation of settlement proceeds; (f) 20 any application by Lead Counsel for attorneys’ fees 21 and/or reimbursement of expenses; and (g) all parties 22 to the Class Actions and the Stipulation for the 23 purpose of enforcing and administering the Stipulation 24 and Exhibits thereto and the mutual releases and other 25 documents contemplated by, or executed in connection 26 with, the Stipulation. 27 9. In the event that the Settlement does not 28 become effective in accordance with the terms of the 6 1 Stipulation, then this Judgment will be rendered null 2 and void and will be vacated and in such event, all 3 orders entered and releases delivered in connection 4 herewith will be null and void, and the parties will be 5 returned to their respective positions ex ante. 6 10. The Court finds, pursuant to Rule 54(a) and (b) 7 of the Federal Rules of Civil Procedure, that this 8 Judgment should be entered and further finds that there 9 is no just reason for delay in the entry of this 10 Judgment, as a final judgment as to the parties to the 11 Stipulation. Accordingly, the Clerk is hereby directed 12 to enter this Judgment forthwith. 13 14 15 IT IS SO ORDERED. 16 DATED: August 30, 2011. 17 18 19 HONORABLE RONALD S.W. LEW Senior, U.S. District Court Judge 20 21 22 23 24 25 26 27 28 7

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