Cifuentes et al v. Regions Bank, No. 1:2011cv23455 - Document 203 (S.D. Fla. 2014)

Court Description: ORDER GRANTING PLAINTIFFS' MOTION FOR FINAL APPROVAL OF CLASS-ACTION SETTLEMENT, CLASS COUNSEL'S APPLICATION FOR SERVICE AWARDS, AND CLASS COUNSEL'S APPLICATION FOR ATTORNEYS' FEES AND EXPENSES. Signed by Chief Judge Federico A. Moreno on 3/20/2014. (err)

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Cifuentes et al v. Regions Bank Doc. 203 UNI TED STATES DI STRI COURT CT SO UTH ERN D I STR I O F FLO RI A CT D M I ID I SI N AM VI O C as No.11 C V 23455 FA M e LAURA Y E TZA C I UE LI F NTES, nd a M E DE LASM ERCEDESSIVA CAS RLE L TRO, GE RD CAR A O tert l e tv RA O VAJ L, n h i p b hl w' a do b h fo l to esmia l sta e , n n e a fa lh s i lry i td u Pl ntf s ai i f , REGI BANK, ONS D e e nt f nda . O RDER G M NTI NG PLAI FFS' OTI FOR FI A PPROVAL OF C LAS - CTI SETTLEM ENT, NTI M ON NAL S A ON CLAS C OUNSEL' A PP CATI FOR SERVI A W ARDS AND S S LI ON CE , C LASS COUNSEL' A PPLI S CATI FOR A TTORNEYS'FEES AND E XPENSES ON THI CAUSE c e be or t Cour upon Pl i if 'M o i f rFi Appr lofCls S om s f e he t antfs ton o nal ova as Ac i Se te e , Cl s Cou els A pplc ton f Se v c A w a ds a Cl s Couns ' ton tl m nt as ns ' i a i or r i e r , nd as els Applc tonf Atome 'Fe sa Expens ( antf sç oton' ( E.1 1 Thi Cour hed iai or t ys e nd es Pli if s i ' D. 98 . s M ) t l atna f i es hea i on M a c 1 201 Fort r a onsexpli d be o , antfs' otonf i l am s rng r h 8, 4. he e s a ne l w Pli if M i or Fi Appr nal ovalofCl s Ac i Se te e i GRANTED,Cl sCouns ' Applca i f Se vie as - ton tlm nt s as els i ton or r c Awar i GRANTED,a Cls Couns ' Applca i f Atonwys Fe and Expens i ds s nd a s els i ton or t ' es es s G RANTED. Dockets.Justia.com O VERVI OF THE LI GATI EW TI ON Thi Aci c e nst s l ofç nvesmentPlns'by a e iy c s ton onc r he ae s l t a ' n ntt omm onl r f redt a y eer o s USPT.Pli if m ant i t t el nvesme Pl ' q lf asi e riis. Pli if a lge antfs i an hat hes i l t nt ans' uaiy L cu te ' a ntfs le d s ' t tUSPT enga d i t unlwf ls eofs h s c ii si of rasi wa enga d i busnes a ha ge n he a u al uc e urte ns a t s ge n i s s a de l rofs h s c ii wihou ha ng be n r se e t do s Pl i if mai an t tt ae uc e urtes t t vi e egit r d o o. antfs nt i ha he c onduc ofUSPT consiutsavi ai ofFl St .j517.2(1. t tt e olton a. at 1 ) l t n, a. a . 51 211 1 ceaesar med whent r i a undel ngvi ai ofFl n ur Fl Stt j 7. 4 ) r t e y hee s n ryi olton a. Stt j 51 1 1. l pe tnen pa tt saut pr dest tt pur s rofscurte s d i a. 7.2() n ri t r, he tt e ovi ha he cha e e iis ol n vi ai ofFl Sttj51 1 1 ma s f da s.Thesaut goesont pr det tpl ntfs olton a. a. 7.2() y ue or mage tt e o ovi ha ai if i s h a aci n m a s notonl t unr git r d de e , alo e chper on who qualfesasa n uc n to y ue y he e se e alr but s a s ii i r on makng t s e'ofs h s c ii - ie,e h pe s who qua ii asa ' e lr'ofs h i s pe i he al ' uc e urtes .. ac r on lfes ' le ' uc s s c iis I t sAci n,Pli if a lget tRe onse e urte . n hi to antfs le ha gi ngage i conduc t tma i la e a dn t ha kes t i bl s a G e l r ' t l t e Pl n s c ii . o le ' of he nvesm nt a e ur tes s Acc di y, antfsbr or ngl Pli if ought sngl cli a ns Re onsalegi t t a i e am gai t gi l ng ha Regi i labl ons s i e f t u a uls eofs curtesi vi ai ofFl Stt j51 211 ) or he nlwf al e ii n olton a. a. 7. 41. Pli if Se ond Ame antfs' c nded Cls - i Com pl ntdefne t Cl sa a s Acton ai i s he as s: AI pe s and entte who made i sme si an I t I r ons iis nve t nt n nvesmentPl (he an t $CI s' be we Septm ber21, * as ' t en ) e 2006 andAugus 31 2009(i as Perodn . t , icl s i ) Regi de est ti i la e t t Cl s u Fl St .j 51 211 1 ort ti di ons ni ha t s ibl o he as nder a. at 7. 4 ) ha t d a yhn u twad i c nu cin wihtesl o tel v sme t a s n t ig no r n o j n t o t h ae f h n e t n Pln . Page 2 of 15 PROCEDURAL BACKGROUND Pl ntfs fl t r orgi Cls Ac i Compl nt on Se e be 21 2011 a a ai if ied hei i nal a s ton ai ptm r , nd n Am e dCl sAc i Compli onFe uar 1 201 The e tr Re o fl a t Pa te nde as - ton ant br y 7, 2. r afe , gi ns ied, nd he ris f lybref d,apot ntal dipostve moton t dim is Aheror la gume be or t Cour f ul i e e i ly s ii i o s s. a r nt f e he t or t Cou te e e isO r rD e ng t M o i t D im i s he r nt r d t de nyi he ton o s s . Al ti dit l t r fe , gi tl d, ndt Pa te f l bre e amotons e ng mos mme a ey he ea tr Re ons i e a he ris uly i f d, i e ki l a t fl ape s i a e ve o ie nnisve ppea wih t El nt Cic tCour ofAppe lpur u t 28 U. C. l t he eve h r ui t a s ant o S. j 1 b) TheCou te ee is Or rGrntng I PM Dee 292( . r ntrd t de a i n fndantsMoton f Ce tfc e of ' i or riiat Appe a lt and alo sa d t smaterpe ng r viw by t Elve h Cic t The Elve h albiiy, s tye hi t ndi e e he e nt r ui. e nt Cic tde e Re ons Pe ii f Pennison t Appea . sCour t n lfe issa r ui nid gi ' tton or si o l Thi t he itd t tyands tt e he m a t rf t i l te or r a . The Cou tdenid ar we m oton t dimison Ocober 1 201 a c r e ene d i o s s t 0, 3, nd ouns f t el or he Pa tescon ctd vol nousdicovey,i l ng t pr ton ofm or t 400, pa of ri du e umi s l nc udi he oduc i e han 000 ges doc e s Couns lde e t le n vine s i Fl i Alba a,Te ,Ne Yor a um nt. e pos d hi e vt s es n orda, a m xas w k, nd Col bi W holy s pa a el t Pa te s r d s om a. l e r t y, he r i s e ve ubpoena a l i t t obt n di c y f om s low ng hem o ai s over r t cou ta nt d Spe alFi a y i t taci pendi i M im iDa Cou yCic tCour, he r- ppoi e ci ducir n ha ton ng n a - de nt r ui t syl l r .Ce t n Tr s Agr eme s M im iDa Count Cic tCa eNo. CP- C. 0 t ed n e. r ai u t e nt, a - de y r ui s 09- 659- 4 2 (heS rtPr t Aci ). t f s obae ton' Fi Complt y s pa a ey,Pl ntfs t aci i t ot r ltgatons. Fis,Pli if eel e r t l ai if ook ton n wo he ii i rt antfs r ognie t tt r wees cii f (he û manderFunds' atis i t Fis Pr t ec z d ha hee r pe tc unds t t Re i ' sue n he rt obae ) Ac i t ta gua ybe ong o t Cl s A ss h, ai if fl d am oton r ue tng pe m i s on ton,ha r bl l edt he a s. uc Pl ntf s ie i eq s i r si fom t sCour t de i f r hi t o post undspur ua t Rul 67,whi moton t sCour gr nt d.Shorl s nt o e ch i hi t a e ty t r afe ,Pl ntf s m oved t i e v ne i t Fis Pr t A c i t m a known t i c ai t he e t r ai i f o nt r e n he r t oba e ton o ke he r l m o Page 3 of 15 t Rema nde Funds Se he i r . cond, ai if fld a e iey s par t l ws ti cicui c tsyldl Pl ntf s ie n ntr l e ae a ui n r t our, t e n r Di sto o ma n rFu d Fr m Ce t nT u t e me t, imiDa Co nyCic i e s iin fRe ide n s o rai r s Agr e ns M n - de u t rut po Co r ca eNo. 3 2 7 - - 2(h i e o dP ob t Acin',orq e t p cfc l h th cr ut ut s 1 - 5 6 CP 0 te ç c n r ae to ' t e u s s e iial a t e ic i s l yt c u t su j rs ito o e teRe id r n s-p e ieys t a te c ul b ta se rdt o r a s me u idcin v r h man e Fu d rcs l o h th y o d e r n fre o t s Cour. Uli t l bot pr t a tons we e cons i t d,a t Fl rda c r ui c t hi t tma ey, h oba e c i r olda e nd he o i ic t our au horz d t ta f roft Re anderFundst t sCour.The e tr overt c s oft ee t i e he r nse he m i o hi t r afe , he our e hr dif r ntta ac ins t t a s of$1 557, 1 23wa tansere t t sCour. fe e r ns to , he ot l um 2, 8 8. s r f r d o hi tl Ast sma trd e ne rt de i t d tilda e, hePa tesi ens l bref d s g fc t hi te r w a he sgna e ra t t ri nt ey i e i niian moi i lmi a ot rpr-ra motons Tonoej tafw,hef l ngmatr weef l tons n i ne nd he etil i . t us e t olowi te s r uly bre e a d pe ng a t tmet Pa te e er d i o t Sele if d n ndi t he i he ri s nt e nt he tlmentAgr e e : e m nt * De e nt Re ons Bal s M o i I Li ne To Excude M e i of t SEC Ci l f nda gi r k' ton n mi l nton he vi Enf r eme Ac i Agans U SPT; o c nt ton i t * De enda tRegi Ba sM o i / Li ne To Excl M en i a TralofRe ons f n ons nk' ton n mi ude ton t i gi ' Co en Ag e me wih t SEC;a ns t r e nt t he nd Pl ntf s M o i t Per tUs ofSumm a y Evi nc ai if ' ton o mi e r de e; The e a s we e s ve a pot taly c s - s ii ma tr t twer f l bre e a r lo r e r l en i l a e dipostve te s ha e uly i f d nd pe ng a t tmet Pa te e t r d i o t Sete e Agr eme ,s c fc l ndi t he i he ri s n e e nt he tlm nt e nt pe ii aly: Pli if'M otonf Pari Summay J antfs i or tal r udgme g Libiiy) nt on a lt ; Plitfs Mo inf rPata S mmayJ d me t( nDa g s; an if' to o ril u r u g n o ma e ) Pl ntfs M o i f Cls Cerii a i a ai if ' ton or a s tfc ton; nd Def ntRegi Ba sM oton f Summar J m e . enda ons nk' i or y udg nt Fi l t Pa tes e naly, he r i xpende g ea ef or i ne i tng a r s uton of t s m a t .The d r t f t n gota i e ol i hi ter / t ef in s h a i g t e Cou ta r e t a c p a a ditona de ostof$ 265 1 At h a r e s e rn h r g e d o c e t n d ti l p i 4, . 2. Page 4 of 15 Pa te e gedi e e i me ai oft sm at rove t c s ofs ver lmont an di not ri s nga n xtnsve di ton hi te r he our e e a hs d d a eet t nnsuntlFrday, gr o e i i Nove b r8, 3 - ont e ofor lar m e 201 he ve a gume r ga di t Pa tes nt e r ng he ri ' cos- t nsfrs mmayj d me t n Pli tfs mo inf rca sc riiai na dj s we k r smoi o u r u g n a d an if' to o ls e t c to n u t e s o f b or t co m e m entoft s he ed t i pe i ef e he m nce he c dul ral rod. THE SETTLEM ENT A GREEM ENT TheSe teme r ovest cai pla a i t gi andpr de s t i mone a y tl nt es l he l m e ded gans Re ons ovi s ubsantal tr be ist t Cl s The ke f at e oft Se te neft o he as . y e ur he tl menti t c e ton ofa c s he r a i omm on f i t und n he a o of$1 053, 3. 1.TheSete e a s c ai m e ni ulno m one a y tr s m unt 3, 47 1 tlm nt l o ont ns a ngf ntr e m . The Sete e f t rdicl e t tCl sCouns ls l s k r as bl Senr e Awa ds tlm nt urhe s os s ha as e hal ee e ona e i c r f t Cls Re es ttvesa a a df at ne 'f s( t e ee 30% oft c or he a s pr enai nd n war or tor ys ee noto xc d he ommon f andt r mbure und) he ei s mentofe xpens -alt bepadfom t c es l o i r he ommonf nd. u The Sete e con e plt s t tt c mon f s l be alocaed pr r a t t tlm nt t m a e ha he om und ha l l t o at o he m e r oft Cl s s h t t a trpa mbe s he as , uc ha , fe ymen ofCou ta oved Ser ie Awa dst t Cls t r- ppr vc r o he a s Re e e atvesand Cour- ppr d a t ne f e a e ns ,t r pr s nt i ta ove tor ys' e s nd xpe es he emai ng pori oft ni ton he co mon f nd wilbepad t Cl s membe sbas dupon t a m u l i o as r e he mountofmone acualy i se i y t l nve td n l t nt a durngt cas pei ( usi ees)ls a rt nofi smen rcevedbyt nvesme Plns i he l s rod pl ntr t e s ny eur nvet t e i he Cls me r (pple on afrti frtoutbass.Thepr iepr oc f diti i oft a s mbe s a id is-n-isi) ecs ot ol or srbuton he co m on f nd i e ai d a g ea l ngt i t ac ual otc Fi ly, he Se te ent nt m pl t m u s xpl ne t r t e h n he t N i e. na l t tl m co e a es t a teCo r s alrs r ej rs cint s pevs t ec n u to a d a mi itain o te h t h u t h l e e v u idito o u r ie h o s mmai n n d nsrto f h Setl ent tem . C LASS NOTI CE Cl s Couns l we t gr t l t t m a s e t Cl s r c ve t bes N otc as e nt o ea eng hs o ke ur he a s e ei d he t ie pr i e. actcabl Pa 5 of 1 ge 5 Fis, a sCo n e rtie EpqCls Acina dM a sTo tS lto s l . i Q' t rtCls u s l ean d i a s to n s r ou in ,nc (EPl ' o û ) a ta Cl s A c i A d i s r t . c s a s ton m ni t a or Se d,Cl sCouns r t i M r Al M a ni who pr vi l ha bee r ai d b con as el e aned . do nci , e ousy d n et ne y USPT t c e t a m ant i is c t r da a s a t r afe was r t i d by t Spe a o r a e nd i an t usome t ba e nd he e tr e a ne he cil Fi i y a n e by t c ti t Fis Pr t Aci t m a n ai a updae t USPT ducar ppoit d he our n he rt obae ton o i t n nd t he c t e daaba ef pur e ofma ngditi tonsi t tma t r TheUSPT da a s con a ns usom r t s or pos s ki srbu i n ha te . t ba e t i t na e a l tknown a e s s f a lUSPT cusome swho pur ha e I t e Pl ns he m s nd as ddr s e or 1 t r c s d nvesm nt a , i l ng t name ofa 1Cl s membe s M r M a niwa dieced t cul fom t tda a e a nc udi he s l as r . . nci s r t o l r ha t bas c omplt ls ofUSPT c t m e swho m a conti i t a I sm e Pl n durng t cas ee it uso r de rbutons o n nve t nt a i he l s pe i Tha i t s y, r M a i wa die t d t cr a eacompl t ma lng ls f a1m e r rod. t s o a M . nc ni s r c e o e t ee ii it or 1 mbe s oft Cl s Ther s tngmalng ls t n waspr de t EPI f pur esofs ndi t he as. euli ii it he ovi d o Q or pos e ng he Q i l e Notc o l mber oft Cls on s he a s Cour- ppr d Notc t t cas . AndEPI tmeys nt iet a1me ta ove i e o he l s orbe or J nua y 1 201 f e a r 4, 4. Th r , h f lwig i fr to wa p se (n b t En ih a d S a ih o b t te id t e ol n no main s o td i o h gl n p ns ) n o h h o s we ie mai aned b t Spe ilFi ay k bst nti y he ca ducir www. ptpe ili i y.omland as on t us s cafducar c lo he webst prvi l manti byt Cour-ppoi edAdmi srt (ndc rntymanti by ie e ousy i aned he ta nt nitaor a ure l i aned EPI ( Q) - .s td nsrt rc ml u p a miitao .o ' . Thep rist t ca sa to pe dn i fd r lc u tsyld Cfu ne ,e a.v a t o he ls ci n n ig n e ea o r t e e e ts t l . Re onsBank Cas No. ICVgi , e 1 - 23455FAM , vea ee t t t r sofapr e ha gr d o he e m opos d stl ntA copyoft f l tcea o dbyt Couri atc ( ikhee eteme . he onna Noi ppr ve he ts ta hed clc r f rEn ls lgl k h r f rSp n s ) A c p o t Noie r b t En l h a d o gih ci ee o a ih . o y f he tc i oh gi n c n s Spa s wil s ntvi coure byDHL ( ot rrpua eca e)t almembe s nihj lbe e a ir or he e tbl ni r o l r oft Cls a t beta e si t posesi ofCl sc e ( s d on t he a s t he s ddrs n he s son as ouns l ba e he daa s prvi l mai ai db USPT)Thos whoaenotme r oft Cls tba e e ousy nt ne y . e r mbe s he a s a wiht behe r a t Fi lFaine sHe ng(odeemi whehert Cour nd s o ad t he na r s mi t tr ne t he t s l a o t pr e Sete nt mus fl a f ma motonwih t Cour hal pprve he opos d tlme ) t ie or l i t he t Page 6 of 15 s eki t i t r e i t s pr e di . e ng o n e v ne n he e oc e ngs Fourh, Cl s Couns s t up a s cily desg t a s gr gatd e mai addr s t as el e pe a l i naed nd e e e - l es g go s a s to sete n @d p ac mlt fediq ie r ltdt t eNoie Re in clsAcin tlme t k .o o il n ur s eae o h tc . Subsa i l t Notc de c i t naur hit y, nd sat oft Acto s t f t t tntvey,he ie s rbes he t e, sor a t us he i n; es orh he detnii oft Cl s ; c i st t r soft Setlmenta t pr e pl n ofditi in' i ton he a s des rbe he e m he te nd he opos d a srbuto , e a nst pr e et d out' t Setl ment e anst pr edur f Cl sme xpli he oc dur o i opt 'of he te ; xpli he oc e or as mber t so e tr na p aa c t r u hc u s l ndfl a o j cint t eS tlme ta e pan t ebn i g ne a p e rn e l o g o n e a ie n be to o h ete n ; nd x lis h id n z e f c o t Se te t i a ove The Notc a s di cos st tCl s Couns lwoul s ek f e t f he tl men , f ppr d. i e l o s l e ha as e d e r s eaonabl Se vceAwadsf t namedCls Re e e atve a a a r ofatonwys fes( e ri r orhe a s prs nt i s nd n wad t 'e not t e e 30% oft c o xce d he ommonf a ri reme ofras bl e ns s-alobepadfom und) nd embu s nt e ona e xpe e 1t i r t c he ommon f und. Fi ly,t N o i s i t dae,tme,a plce oft Fi lFa r s na l he tce upples he t i nd a he na ine s H e rng. ai DI SCUSSI ON T heC l s A c i Se t e e I A ppro d as - t on t l m nt s ve Unde Fed.R. v.P. ( ,igl cai ,is ,ordef e ofac ri e ca sma be r Ci 23e) çthe l ms sues ens s e tt d ls y i s te vol arl dim is d,orc etld, unt iy s s e ompr it onl wih t cour' a oval' om s d y t he ts ppr . ' l t sc e, hePa te agr e t t Se te e prort t c tfc ton oft Cls .The n hi as t ris e d o he tlm nt i o he erii a i he a s lw,o c u s , mb a e te n to t tça ca sma b c ri e s ll f rt p r o e o a f o re e rc s h o in ha $ 1 ls y e ett d oey o he u p s s f ( i s tl ntwhe e s tl nti r a he be or a ltga e de e mi ton oft cas c rii ton e teme r e teme s e c d f e ii t d t r na i he l s e tfcai is ' Liuma v. . prs Co.406 F.Sup z 1 98,1 3- 4 ( D.Fl 2 ) Butt lw i s ue. p ' Am Ex e s , p.d 2 31 1 S. a. 005 . he a s eq l c e rt tt r r m e t ofRul 23'de a undiut eve hei ene a t ton i t ualy l a ha he equie n s e i m nd l ed, n ght d, ten i n he s tem entcont .' etl ext' ' tl m e a e e sar hi y f vor d i t l w and w il uphel w he verpos i e ' te nt gr em nt e ghl a e n he a Se l be d ne sbl Pa 7 of 1 ge 5 bec us t ya eam e nsofami bl r s vi doubt a unc rantesa pr ve i lws t . a e he r a ca y e ol ng s nd e ti i nd e ntng a uis' ' I r Nis nM o o Cor Anttus Lii ,5 2 F. 1 8,1 ( t Ci.l 77) n e sa t r p. ir t tc. 5 2d 08 005 5h r 9 . Bu prort is ng fnala ova ofa c a s a ton s tl nt t Cour m us r vi w a t i o s ui i ppr l l s - c i eteme , he t t e e nd s ts y is fast t e c e c ponen s a i f t el o hr e or om t: Tha a ua eNotc wa pr de t t Cls ; t deq t i e s ovi d o he a s Thatt Setlmenti f i,a qua e a r a ona e a he te s a r de t , nd e s bl ; nd Tha t Cl s s ifest r quie t ofRul 23. t he a s atsi he e r men s e TheCour i s tsi d ast a1t e t s a ife o 1 hr e. He e t Co tfndst tt Se te ntwa no t pr tofcoluso r , he ur i ha he tl me s t he oduc l i n. l tndi t tt Se te n i ng ha he tl menti f r a quae,a r as s ai, de t nd e onabl t Cour e ua e t sx e, he t val t s he i f cor dic s d i Be e t Be i Cor , 37F.d 98 98 ( 1h Ci.1 4) a t s s us e n nn t v. hrng p.7 2 2, 6 1 t r 98 : ( )t lkei ofs ce sa til( t rngeofposi erc r ()t poi 1 he i lhood uc s tra;2) he a sbl e ovey; 3 he nt onorwhiht r c he angeofpos i er ove ya whi as te e i f i, qua e a sbl ec r t ch etlm nt s ar ade t , nd r s bl ( t compl t e ns anddurtonofltgai ,()t s tnc eaona e;4) he exiy, xpe e, ai ii ton' 5 he ubsa e a a nd mount oppostont t s tl nta ( t sa of oce ngsa whih of ii o he eteme ; nd 6)he tge pr edi t c s tl m e wasa hi ve e te nt c e d. 1. T he Li lhood ofSuc es atTr al ke i c s i Att tme t Pa tesag ee t t r s t r wasgr trs f i Pli if a t Cl s he i he ri r d o e m , he e ea ik acng antfs nd he as t t ul ha r uledi Pl n if andt Cls r c i f rl st t c mon f c e t d ha co d ve es t n aitfs he a s e overng a es han he om und r a e v s a- i t Se te e 0r f wor e not ng a al. i - v s he tl m nt , ar s , hi t l W ih r r t t c e is ofla lt t sca epr e e t ( mai hur est t t egad o he or sue ibiiy, hi s es ntd wo 2) n dl ha Pli if woul ha ha t c e ri or rt r ove a hi Fis,Pl i if wo d ha hadt antfs d ve d o l a n de o ec r nyt ng. rt antfs ul ve o esa i h t tt I s m e Pl qua iy a ' e r te 'unde a i a e l w .Se ond, ai tf s t bls ha he nve t nt ans lf s ' cu ii s ' s r pplc bl a c Pl n if w oul ha ha t e t i h t tRe onsqualf e asa ' e l r 'oft I s m entPl ns I or r d ve d o s abls ha gi ii s ' le ' he nve t s a . n de t r c ran hi Pl i if ha t pr vai on bot oft e a gum e s l eihe i s ha be n o e ove yt ng, a ntf s d o e l h hos r nt . f t r s ue d e de i ed adve s l t Pl ntf s t n Pl ntf sw oul notha r ove ed a hi a a l cd r e y o ai if , he ai i f d ve ec r nyt ng t l. Pag 8 of 1 e 5 And e n as umi t tPl ntfspr va ld on t c e is ofla lt i s d notbe ve s ng ha ai if e ie he or s ue i biiy, t houl pr um e t t antfswoul ha obt i dame ni u r ove y.Pl ntfsalege t da ges es d ha Pl i if d ve ane a ngf l ec r ai if l d he ma s t ne byt Cl se ee $38, 000.Butt tas umest tPl i if woul pr va lon t usai d he as xc d 000, ha s ha antfs d e i wo mai l ga ar um e s Fis , ai if woul ha ha t esa ih t tea h a e r c rbuton n e l g nt . rt Pl ntfs d ve d o t bls ha c nd ve y onti i m a by a lme r oft Cl s c sa as pa at ac i bl s c ii ta a ton unde t de l mbe s he a s ount s e r e, tona e e urtes r ns c i r he i sme - c son docrne.Se nve t ntde ii ti cond, ai if woul ha hadt esa iht tf Pl ntfs d ve o t bls ha undsr cevedb e i y me be soft Cl s - et rfom t s l- r c e cosng oft rac un sorfom diti tons m r he a s ihe r he e fdie t d l i hei co t r srbu i pa dby t Spe i lFi a y - s d be a i d on a trti frtou bassr t rt n a ls-ni he c a ducir houl pple i s-n-is- t i ahe ha a ti frtoutbass And i eihe is had be de de a r el t Pli if ,t n t da a s isi. f t r s ue en ci d dve s y o a ntf s he he m ge r ove a e by t Cl s lkey woul ha pl ec r bl he as i l d ve umm e e t a lve f r beow t amountoft t d o e l a l he he Setl ent. tem 2. T he R ange oft R ecovery he Thescon a t r fcor (..t rngeofposi erc r a t r ofpos i e e d nd hid a t s ie, he a sbl e ovey nd he ange sbl r oveya whi astlmen i f r a quae, ndr s na e)aee iycombi da nor ly ec r t ch ete t s ai, de t a ea o bl r asl ne nd mal c i r d i co e t l ma ngt se ua i t Coul tndst tt r ngeofpos i er cove y onsde e n nc r. n ki hi val ton he ' i ha he a t sbl e r ia s nywhe e fom $0 t mor t n $38 milon. Agans t ba kdr p,t Seteme c e t s a r r o e ha li i t he c o he tl nt r a e c mon f i e es of$13, 000,whih r pr e sappr m a ey 35% oft m a m um om und n xc s 000, c e es nt oxi t l he xi da a spotnta l r c a ebyt Cls .M ea ur da ns t rs pr s nt t Coul fnds m ge e ily e over bl he a s s e gai t he iks e e ed,he 'i t t t hea ha t mountofheSete e f lswihi t r ngeoft pos i er ove ya whihas tl me t tlm nt a l t n he a he sbl ec r t c e te nt i f i,a ua e, nd r s bl s a r deq t a ea ona e. 3. The Com pl t Expense.and D urat on oft Li i i exiv. i he tgaton Thi m a t ro ousy w asc pl x.Buti a s wase s te bvi l om e t lo xpens ve.l i ndee C l s Couns lha d, a s e d t ad nc mor t $1 000i expe e j tt ge t c et t poi oft Setlment Ha o va e e han 00, n ns s us o t he as o he nt he te . d Page 9 of 15 t sc epr ee dt til( pr s bl a l,he i sa t r s n t tt c t wo d hi as oc de o ra and, euma y, ppea) t n t tnds o ea o ha he oss ul ha pr ie ae c i r bl Fi ly, t t c i r ton ofdur ton,hec et mor t n ve olfr td onsde a y. nal as o he onsde a i a i t as ook e ha 2 % ye r t ge t t poitofSete nt Ha t sc epr e d t ti tnd,prs bl a s o t o he n tlme . d hi as oc ede o ral a e uma y, a a) t ni sa t ras t t c ewoul ha tke muchl ppe l,he t tnds o e on hathe as d ve a n ongert nt t ha ha. 4. The Subst ance and Am ountofO pposii t t Set l ent ton o he t em Thel r cogniest tfher aci nof hecas i a i pora f ct 'i evauatngac a s aw e z ha S e to t l s s n m tnt a or'n l i t lsac i n s tl m e . to e te nt NoCls me e o oh ritrse p ryha o jce t t Sete n , n ten mb r a s mb r r te ne etd a t s be td o he tlme t a d h u e ofi - ut 'i as l Outof5, me be soft Cl s onl 20 ha eece t t out'a û o s' s lo ow. opt 468 m r he as , y ve l td o i opt ' s oft M a c 3,201 de i - ie,f rl s t n 1 . he r h 4 adlne .. a e s ha % l i as no e t t t e n t t s lo t worhy ha ve hough Cls m e be s di nothave t do a hi t as m r d o nyt ng o pa tc pa e i t Se te en ,no f w e t n 33 m e be s of t Cl s t t tm e t sat i r i i t n he t l m t e r ha m r he a s ook he i o t e, n m i i t tt y a epa tc a l plas wih t Sete e and/ wih t pm i pa ei i. tng, ha he r ri ulry e ed t he tlm nt or s o ci t n t 5. The St oft Pr e nes atW hi h Se tem e W asA chi ve aee he oce di c t l nt e d He e,hema trobvi l ha adva edt t poi whe ePl ntfsha a ce st s fcint r t te ousy d nc o he nt r ai if d c s o ufi e i or tont evaua et me isoft c s a wei t be isoft s te nf ma i o l t he rt he a e nd gh he neft he etl ment i tf t agans urher ltga i The Pari ha compl e a ldicove y a f l bref cr smotonsf s mm a y ii ton. tes d etd 1 s r nd uly i ed os - i or u r j d me t ca sc riiain a da1 r-ra mo in . u g n, ls e t c to , n 1 p etil to s f T he Set l entC om ples w ih t Prerepui t ofR ul 23 tem i t he sies e Thi Cour pr vi l f s t e ousy oundt t rquie nt ofRul 23()a 23( ( aestsid hathe e r me s e a nd b)3) r aife her f pur e ofpr lm i y a ova . And t Cou the eb r t a est e fndi . M or e or pos s e i nar ppr l he r r y eier t hos i ngs e s e i c ly, t r g r t Rue2 ()teCo r fn st t( )h Cls i s n meo st aj id r p cf al wi e ad o l 3 a,h u tid ha: 1 te a s s o u r u h ton e i h ofalme r i i a tc e;( t r aeque tonsoflw a fctc l mbes s mprciabl 2) hee r si a nd a ommont a1me r of o l mbes Pa 1 of 1 ge 0 5 t Cls ;( t cl m oft Cl sRe esnttve i t ca oft cli ofalmembesoft he a s 3) he ai he as pr e ai s s ypi l he am l r he Cls ; nd( t Cl sRe eenai andCl sCounslfil a a quaeyha pr tce t a s a 4) he as pr s ttves as e ary nd de tl ve oe td he i e et oft Cl s And wihr r t Rul 23( ( ,t Cour fndst t ( t c ntr ss he as. t egad o e b)3) he t i ha : 1) he ommon quetonsofl a fctprdomi t ove i vi lis ;a ( acas a i i s rort si aw nd a e nae r ndi dua sues nd 2) l s cton s upei o oh ra albl meh d frt efi a defce ta j dc to of h p e e tc n r v ry. t e v i e t o s o h ar n fiin d u iain t e r sn o to es a Fi l Rul 23( sat t t$ c tha ce tfesacls mus a n cas c e. l naly, e g) t es ha û our t t rii a a s t ppoit l s ouns l' n ' a ntng, a sc elt Cour mus c i r ( )t wor c e hasdonei i ntf ngor ppoi i cls ouns ,he t t onsde: 1 he k ouns l n de iyi i si tngpotnta cli ;( couns ' e re i ha i ca sa i ,ot rc e nvetgai e il ams 2) els xpeince n ndlng ls ctons he omplx ltgai a t t sofcli ase tdi t a ton;3)c elsk e oft applca e ii ton, nd he ype ams sre n he ci ( ouns ' nowldge he i bl lw;a ( t rs c t tc e wilc a nd 4) he e oures ha ouns l l ommit rpr e i t cas .TheCour fndst t t o e esntng he l s ti ha D i on Ka a & Rot t i P. . Sa l h As a ia & Cox,LLC,a t Sive La Gr ha m d pl n hs e n, A , la trt nd he l r w oup ve s tsidalh p ee u sts Rue2 ( ) n o h r s h v d n a e c l n j bi p o e uig aife lte rrq ii of l 3 g a d t ewie a e o e n x el to n r sc tn e e a s tlng t sA c i n.As s h, he Cour a nt t l w f r sofDi ond Ka a & Rot t i nd e ti hi to uc t t ppoi s he a i m m pl n hs e n, P. ,Sa lh Asa ia& Cox,LLC,a t Sive lw Gr up a i as Couns .' A. la t rt nd he l r a o st s cl el' CONCLUSI REGARDI APPROVALOFCLAS ACTI SETTLEMENT ON NG SON For a lt f e ng r as ,Pl i if ' M oton f Fi l Appr l he or goi e ons antfs i or na ovalof Cl s - ton a s Ac i Se te e i G RANTED.Bu a n t d i t Cou ta pr ve No i e t e a m i sr tonoft e Se te nt tl m nt s t s o e n he r- p o d tc , h d nita i h tl me ma ivol t ( ormo er n o ditiu ins a we l st epos iii ofac e awa da tee y n ve wo 2) r ou ds f srb to , s l a h sblt y ypr s r t h nd o t diti tonp o o ol Se Notc ( E. 8 - a pp. 1 .Ass ch t Cou t h leai urs c i f he srbu i r t c . e ie D. 1 2 3) t 9- 1 u ,he r s alrt nj iditon ove t smater t Setl ent and t dit i i pr ocolt ent t n appr i e m otonsasm ay be r hi t , he tem , he srbuton ot o erai oprat i n c sayi c j ci wi tea nitai oft S tlme . e esr n onun ton t h dmi srton he ete nt h Servi Aw ardsA re Appropri e f t C l R epres ce at or he ass entatves i Cls Couns lha appled f a s r c a r i t a ountof $5, f e ch Cl s as e s i or e vie wa d n he m 000 or a as Page 11 of 1 5 Re e e atve.He e,heCls Re e e ai scea l devotd c i r etm ea r our est pr s nt i r t a s pr s nt tve l ry e onsde abl i nd es c o t sAc i Spe fc l t Cl s Re e e atve m ai ai d r a c ac w ih Cl s Couns , hi ton. cii aly, he a s pr s nt i s nt ne egul r ont t t a s el rs e ponde t wrte dico r eq ssa appe r f postons( c rquie MsCiu t d o itn s veyr uet,nd aed orde ii whih e rd . fenes a d Ms Ca to t ta e fo Co o i t M imi a d M r Cav j lt ta e fo a rmo e n . sr o rv l r m l mba o a , n . r aa o rv l r m e t, pr ncilct i Vene uel t Bogot Col a. I a ton,M s Ciuent a Ms Casr ovi a iy n z ao a, ombi) n ddii . f es nd . to ta ld fo Col bi t M i mit a tnd a f lda me a i of t s mat r M o eove ,no r vee r m om a o a o te ul- y diton hi te . r r o j cinsh v b e flda ans t erq e tdS r ieAwad .Ass h teCo r a p o e te be t o a e e n ie g i t h e u se e vc rs uc ,h u t p r v s h a ia i ofSer c Awa dsi t a ount $5, f ea h oft Cl sRe e e a i s-t be pplc ton vie r n he m of 000 or c he as pr s nt tve o pai fom t common f d r he und. Ass h,Cl s Couns lsa ia i f Se vie Awa dsi t a uc a s e ' pplc ton or r c r n he mountof$5, f ea h 000 or c oft na e C l s Re es nt tvesi G M NTED. he m d a s pr e a i s C l sC ouns l sA pplca i f At or ys Fe s and Expe es as e' i t on or t ne ' e ns Cl sCouns l fl a a i tonf at ne 'e equa t t rypece ( %)ofhe as e has ied n pplcai or tor ys fes lo hit r nt 30 t $1 053, c 3, 473 ommon f nd c e t d t ough t i eforsi pr e utng a s tlng t sAc i u r a e hr her f t n os c i nd e ti hi ton. Asr c ze byt Unie St t Supr m eCour,he1 i welesa ihe t ti ltga e ogni d he t d aes e tt aw s l t bls d ha $ ii nt a orlwye whor cove sac mon f f t bene i ofpe s ot rt n hi eforhi c inti a r e r om und or he ft r ons he ha ms l s le s e il d t a r as bl a t e sf e f om t f nd a a w hol ' Bo n Co. Va Ge r, 44 U. ntte o e ona e tom y' e r he ' u s e. ei a v. n me t 4 ' S. 47 478( 98 . And a t Elve h Cic tm a cea i Camde lCondo. s nv.Dunkl , 2, 1 0) s he e nt r ui de l r n n As ' e 946 F.d7 8( 1h Ci.1 91,h 1w i e u lywe l sa ih di ti j rs ito t a dato n ys 2 6 1 t r 9 )t e a s q al l etbl e n h s u idcin h ts ltr e ' s g f e a a de f om a com m on f es w r d r und s l be ba e upon a r as bl per e a of t f hal sd e ona e c nt ge he und e t bls d f t be ftoft cas . Ca n1 9 F.d a 7 . sa ihe or he ne i he l s' mde , 46 2 t 7l ' Pe Ca de 1 t none us ve ls off ct st Cour s d c i i det r i ng t r m n , he xcl i i t a or he t houl onsder n e m ni he r a ona e s oft ator ys f esar a f l s e s bl nes he t ne ' e e s olow : Page 1 of 15 2 ()t tmea lborr rd'2)t novet a difc t oft quesi ;3)t 1 he i nd a equie , he ly nd fiuly he tons ( he ( s l rquied t pef m t lgalsr c pr l ( t pr l i ofot r kil e r o ror he e e vies opery; 4) he ecuson he e oyme ;5 t c t r fe;6)whehert fei fxe orc i nt( t mpl nt( ) he usomay e ( t he e s i d ontnge ;7) he tmelmiatonsi e byt cintort cic tnc ;8)t amounti ved i i t i mpos d he le he rumsa es ( he nvol a t rs t obai d;( t e re ,rputton,a a lt oft at ne ; nd he e uls t ne 9) he xpeince e ai nd biiy he tor ys ( 0)t l 1 he t ia lt ' t c e;( 1 t naur a lngt oft pr esi l undesrbiiy'of he as 1 ) he t e nd e h he of sona r ains pwiht clen ;a ( 2)a r i smia ca e . elto hi t he i t nd 1 wads n i lr s s l a 772 n. I s d. t 3. n uppor oft i r ques f a t ne 'f es e t he r e t or tor ys e qualt 3 of t com m on o 0% he f Cl s Couns l pr en e t De l r tonofDa d A. t t n, q. la ti c und, a s e has es t d he c a a i vi Ro hsei Es , e d ral ouns lf e or Pl i tf s i t s A c i a t Decl r ton of Robe tC . Gibe t Es ,r cogni d asone oft a n if n hi ton, nd he aai r l r, qv e ze he la igca sa to p a t in r i t ij rs ito BohDe lrto a ay ee c o t efco s e dn ls-ci n r ci o e s n hs u idcin. t caains n l z a h f h a tr t s f t i Ca de 1 a concudet te cha e r oneoft s et orh n m n , nd l ha a nd ve y hem upporst r s bl s of t he ea ona ene s t i t ntf er q s .Thi Co ta ee .Thi Cour i he nsa e e ue t s ur gr s s t ndepe ndenty ha a yz t Ca l s nal ed he mden I f c or aga ns t uni ue f c soft s c e a c l st te c a e r one oft m s a t s i t he q a t hi as nd onc ude ha a h nd ve y he uppor t t er a o be e so t eisa tf erq e t M o e v r n o j cin h sb e flda an tte h e s na ln s f h n tn e e u s. r o e , o be to a e n ie g is h r que t f ea r Ass h,heCour a o st a i ai f ra t ne 'f eso $3, 6,041 e sed e wa d. uc t t ppr ve he pplc ton o tor ys e f 91 - t bepai fom t c mon f o d r he om und. Cls Couns alo ha a id f e as el s s pple or xpens i t a es n he mountof$531800. TheCour fnds , 08. ti t t$523,48. oft r quese e ns s t be r as bl a ne s a y i f t r nce oft ha 7 55 he e t d xpe e o e ona e nd ce s r n urhe a he pr e uto a s tlmen oft Aci TheCour fndst f l nge os c in nd ele t he ton. t i he olowi xpens asnotne es a y: es c sr $201 08 9. FEDEX a Es r & UPS Ser ie Cha ge nd quie vc r s Page 13 of l5 $ 450 Ai Condii ng Coss r toni t $25 0 Ai Condii ng Coss r toni t $30 0 Ai Condii ng Coss r toni t $ 90 238. St agewih Br ky La Fim or t ods w r $ 75 220. St ag wih Br ky La Fim or e t ods w r $3, 40 078. St ag wih Br ky La Fim or e t ods w r $1054. , 30 Sc nni / t s stm pi a ng Ba e - a ng $ 40 W ines Fe Ri ha d Br ky t s e c r oads $765143 , . TOTAL I addii t Cour wilr e t r quese s n ton, he t l educ he e t d ubpoe f es of $885. by $ t na e 67 400 o $ 5. The t alof$8, . i s r c e fom $531800. r quese The Cour t r f e 48 67. ot 05143 s ubta t d r , 08 e t d. t he e or a ove t a r of$52 748. ppr s he wa d 3. 55. C ONCLUSI ON TheCour a ove Pl i if M o i f Fi l ppr t ppr s a ntf s' ton or na A oval Cl s A c i Se te e , l s of as - ton tl m nt C a s Couns lsA pplc ton f rSe vi eA wa ds a Cl s Couns l sApplca i f e' ia i o r c r , nd a s e' i ton orAtom e ' esa t ys Fe nd Expe e . The Cour hasco i r d t M o i f Fi lAppr ,t pe tnen pori oft ns s t nsde e he ton or na oval he ri t tons he r c d,a i ot r s f l i o me Ac r ngl i i e or nd s he wie uly nf r d. co di y,t s O RDERED a A DJ nd UDGED asf l s olow : Pl ntfs M o i f Fi l ai if ' ton or na Appr l t Cls - i Se tement sG RANTED-S It t ova ofhe a s Acton tl i UCA ha t eSete n i a p o e (n teCo r s l rti j rs cino ti matrt o e s e h tlme t s p r v d a d h u t hal ean u idito f h s te o v re t a nitai oft Setlment; he dmi srton he te ) ( 2) Cls Couns lsApplc tonf Se vceAwadsi GRANTED- s t tCls Cou eli as e' iai or r i r s uch ha a s ns s a horz t pa e chof heCl s Re es t tvesaSer c Awa d i t a ut ied o y a t a s pr en a i vie r n he mountof$5, 000 al t be pa d f om t c m on f lo i r he om und;a nd Cl s Couns l sApplca i f as e' i ton orAtor ys Fe sa Expe esi G RANTED - s ht t a s t ne ' e nd ns s uc ha Cl s Couns i e ild t at ne 'f e i t a el s ntte o tor ys e s n he mountof$3, 6, a e ns s i t 91 041 nd xpe e n he a mountof$5 7 55 a1 t bepai fo t c 23, 48. , l o d r m he omm on f und. Page 14 of 15 The Cour f rhe not s t tt Cour- o d Notc f r ha t u t r e ha he tappr ve i e o es dowe t lke i d he i lhood of muli er tpl oundsofditi i , welast pos i lt ofac e a r a t c usonoft srbutons as l he sbiiy ypr s wa d t he oncl i he diti uin p oo o ,a d t tt ee l e wo d b a dto a e e s s i c n u cin wi srb t rt c l n ha h r i y ul e d iin l xp n e n o j n to t o kl h a tona r ddii l oundsofditi i . s h,heCour he e i t Cl sCouns t s srbutons As uc t t r by nvies as elo ubmi f t r t urhe a i ai f ra tonale pplc tons o ddii xpens a ne s a y i t c s ofa nitrng t s tl me a es s ce s r n he oure dmi se i he ete nt s we la s l s ugge tonsf apos i ec e a r si or sbl ypr s wa d. o oxE Axo O RDERED i cha be s a M i i Fl r da t s n m r t am , o i hi 1%r ay ofMac 2014 -d 7 rh . ' ' . .' Fe c .M or no d o e Un' St t DititJ e aes src udg Copi Pr de t es ovi d o: Co e ofRec d uns l or Pa 1 of 1 ge 5 5 ,

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