In Re OCZ Technology Group, Inc. Shareholder Derivative Litigation, No. 3:2012cv05556 - Document 55 (N.D. Cal. 2013)
Court Description: FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE. Signed by Judge Richard Seeborg on 10/17/13. (cl, COURT STAFF) (Filed on 10/17/2013)
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In Re OCZ Technology Group, Inc. Shareholder Derivative Litigation Doc. 55 1 2 3 4 5 6 7 8 UNITED STATES DISTRICT COURT 9 NORTHERN DISTRICT OF CALIFORNIA 10 SAN FRANCISCO DIVISION 11 IN RE OCZ TECHNOLOGY GROUP, INC. SHAREHOLDER DERIVATIVE 12 LITIGATION 13 14 This Document Relates to: ALL ACTIONS 15 ) ) ) ) ) ) ) ) ) Lead Case No.: C-12-05556-RS (Consolidated with Case Nos. C-12-06058-RS, C-12-06343-RS) [PROPOSED] FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE Judge: Hon. Richard Seeborg 16 17 18 19 20 21 22 23 24 25 26 27 28 876826_1 Dockets.Justia.com 1 This matter came before the Court for hearing pursuant to the Order of this Court, dated 2 August 5, 2013 (“Preliminary Approval Order”), on the application of the Settling Parties for 3 approval of the settlement (“Settlement”) set forth in the Stipulation of Settlement dated July 19, 4 2013 (the “Stipulation”). Due and adequate notice having been given to the current OCZ 5 Technology Group, Inc. (“OCZ”) shareholders as required in said Preliminary Approval Order, and 6 the Court having considered all papers filed and proceedings had herein and otherwise being fully 7 informed in the premises and good cause appearing therefore, IT IS HEREBY ORDERED, 8 ADJUDGED, AND DECREED that: 9 1. This Judgment incorporates by reference the definitions in the Stipulation, and all 10 capitalized terms contained herein shall have the same meanings as set forth in the Stipulation (in 11 addition to those capitalized terms defined herein). 12 2. This Court has jurisdiction over the subject matter of the Action, including all matters 13 necessary to effectuate the Settlement, and over all parties to the Action, including the Plaintiffs, the 14 current OCZ shareholders, and the Defendants. 15 3. The Court finds that the Notice and Summary Notice provided to OCZ shareholders 16 was the best notice practicable under the circumstances and fully satisfied the requirements of 17 Federal Rule of Civil Procedure 23.1 and due process. 18 4. The Action and all claims contained therein, as well as all of the Released Claims, are 19 dismissed with prejudice. As between Plaintiffs and Defendants, the Settling Parties are to bear their 20 own costs, except as otherwise provided in the Stipulation. 21 5. The Court finds that the Stipulation and Settlement are fair, reasonable, and adequate 22 as to each of the Settling Parties and further finds that the Settlement is in the best interests of OCZ 23 and its shareholders. The Court hereby finally approves the Stipulation and Settlement in all 24 respects, and orders the Settling Parties to perform its terms to the extent the Settling Parties have 25 not already done so. 26 6. Except as provided in paragraph 7.4 of the Stipulation, upon the Effective Date, 27 Plaintiffs on their own behalf and derivatively on behalf of OCZ, OCZ, and each of OCZ’s 28 876826_1 [PROPOSED] FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE - C-12-05556-RS -1- 1 shareholders (solely in their capacity as OCZ shareholders) shall be deemed to have, and by 2 operation of the Judgment shall have, fully, finally, and forever released, relinquished, and 3 discharged the Released Claims, including Unknown Claims, against the Released Persons. Nothing 4 herein shall in any way impair or restrict the rights of any of the Settling Parties to enforce the terms 5 of the Stipulation. 6 7. Upon the Effective Date, each of the Defendants and their Released Persons shall be 7 deemed to have, and by operation of the Judgment shall have, fully, finally, and forever released, 8 relinquished, and discharged each and all of the Plaintiffs and Plaintiffs’ Counsel from all claims 9 (including Unknown Claims) arising out of, relating to, or in connection with, the institution, 10 prosecution, assertion, settlement, or resolution of the Action or the Released Claims. Nothing 11 herein shall in any way impair or restrict the rights of the Settling Parties to enforce the terms of the 12 Stipulation. 13 8. All OCZ shareholders are hereby barred and enjoined from prosecuting the Released 14 Claims against the Released Persons. 15 9. The Court hereby approves the Fee and Expense Amount in accordance with the 16 Stipulation and finds that the Fee and Expense Amount is fair and reasonable. 17 10. Neither the Stipulation nor the Settlement, nor any act performed or document 18 executed pursuant to or in furtherance of the Stipulation or the Settlement: (i) is or may be deemed to 19 be or may be offered, attempted to be offered, or used in any way by the Settling Parties or any other 20 Person as a presumption, a concession or an admission of, or evidence of, any fault, wrongdoing, or 21 liability of the Defendants or of the validity of any Released Claims; or (ii) is intended by the 22 Settling Parties to be offered or received as evidence or used by any other Person in any civil, 23 criminal, administrative, or other proceeding whatsoever, including before any court, administrative 24 agency, or other tribunal. The Released Persons may file the Stipulation and/or the Judgment in any 25 action brought against them in order to support a defense or counterclaim based on principles of res 26 judicata, collateral estoppel, full faith and credit, release, good faith settlement, judgment bar or 27 28 876826_1 [PROPOSED] FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE - C-12-05556-RS -2- 1 reduction, or any other theory of claim preclusion or issue preclusion or similar defense or 2 counterclaim. 3 11. During the course of the litigation, the parties and their respective counsel at all times 4 complied with the requirements of Federal Rule of Civil Procedure 11 and all other similar laws. 5 12. Without affecting the finality of this Judgment in any way, this Court hereby retains 6 continuing jurisdiction over the Action and the parties to the Stipulation to enter any further orders 7 as may be necessary to effectuate the Stipulation, the Settlement provided for therein, and the 8 provisions of this Judgment. 9 13. No proceeding, appeal, or petition pertaining solely to the Fee and Expense Amount 10 or reversal or modification thereof, shall operate to terminate, modify or cancel the Stipulation, or 11 affect or delay the Effective Date or the finality of this Judgment. 12 14. In the event that the Settlement does not become effective in accordance with the 13 terms of the Stipulation, this Judgment shall be vacated, and all orders entered and releases delivered 14 in connection with the Stipulation and this Judgment shall become null and void, except as otherwise 15 provided for in the Stipulation. 16 15. This Judgment is a final, appealable judgment and should be entered forthwith by the 17 Clerk in accordance with Rule 58, Federal Rules of Civil Procedure. 18 IT IS SO ORDERED. 10/17/13 19 DATED: _________________________ 20 ____________________________________ THE HONORABLE RICHARD SEEBORG UNITED STATES DISTRICT JUDGE 21 22 Submitted by, 23 ROBBINS ARROYO LLP BRIAN J. ROBBINS 24 GEORGE C. AGUILAR MICHAEL J. NICOUD 25 26 s/ George C. Aguilar GEORGE C. AGUILAR 27 600 B Street, Suite 1900 28 876826_1 [PROPOSED] FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE - C-12-05556-RS -3- 1 San Diego, CA 92101 Telephone: (619) 525-3990 2 Facsimile: (619) 525-3991 brobbins@robbinsarroyo.com 3 gaguilar@robbinsarroyo.com 4 mnicoud@robbinsarroyo.com 5 ROBBINS GELLER RUDMAN & DOWD LLP 6 TRAVIS E. DOWNS III BENNY C. GOODMAN III 7 ERIK W. LUEDEKE 8 655 West Broadway, Suite 1900 San Diego, CA 92101 9 Telephone: 619/231-1058 619/231-7423 (fax) 10 travisd@rgrdlaw.com 11 bennyg@rgrdlaw.com erikl@rgrdlaw.com 12 ROBBINS GELLER RUDMAN 13 & DOWD LLP SHAWN A. WILLIAMS 14 Post Montgomery Center 15 One Montgomery Street, Suite 1800 San Francisco, CA 94104 16 Telephone: (415) 288-4545 Facsimile: (415) 288-4534 17 shawnw@rgrdlaw.com 18 Co-Lead Counsel for Plaintiffs 19 20 21 22 23 24 25 26 27 28 876826_1 [PROPOSED] FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE - C-12-05556-RS -4-
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