Ross et al v. American Express Company et al, No. 1:2004cv05723 - Document 138 (S.D.N.Y. 2009)

Court Description: MEMORANDUM AND ORDER In the final analysis, while not perfect, this Settlement with its revamped claims process and the participation of more than 10 million individual claimants embodies Jeremy Bentham's principle of utility to do "the gre atest good for the greatest number of people." S.E.C. v. Bear Stearns & Co., 626 F. Supp. 2d 402, 419 (S.D.N.Y. 2009). Given the size and complexity of this multi-district litigation, it was prudent for this Court to have as much information as possible in assessing the fairness and adequacy of the Settlement. This was especially important in view of this Court's intervention to modify the notice and claims process. This Court is convinced that it was worth waiting and any delay was be neficial to the Class. For the foregoing reasons, in the exercise of its informed discretion, this Court grants final approval of the Settlement and grants in part and denies in part Class Counsel's motions for attorney's fees, reimbursemen t of expenses, and for incentive awards for the class representatives. The parties are directed to submit a final judgment forthwith. SO ORDERED (Signed by Judge William H. Pauley, III on 10/22/2009) Filed In Associated Cases: 1:01-md-01409-WHP, 1:04-cv-05723-WHP, 1:05-cv-07116-WHP, 1:06-cv-15447-WHP, 1:07-cv-05583-WHP(jmi)