Dennis et al v. JPMorgan Chase & Co. et al, No. 1:2016cv06496 - Document 460 (S.D.N.Y. 2021)

Court Description: SUPERSEDING ORDER GRANTING CONDITIONAL CLASS CERTIFICATION FOR PURPOSES OF CLASS ACTION SETTLEMENT WITH JPMORGAN CHASE & CO. AND JPMORGAN CHASE BANK. N.A.: NOW, THEREFORE, IT IS HEREBY ORDERED that: 1. This Order supersedes the Court's Novemb er 28, 2018 Order [BCE 229]. 2. For purposes of settlement only, pursuant to Fed R Civ P 23(a) and (b)(3), the Court hereby certifies a Settlement Class consisting of all Persons (including both natural persons and entities) who purchased, acquir ed, sold, held, traded, or otherwise had any interest in, BBSW Based Derivatives during the period January 1, 2003 through August 16, 2016, inclusive, provided that, if Representative Plaintiffs expand the putative or certified class in this Acti on in or through any subsequent amended complaint, class motion, or Other Settlement, the defined Settlement Class in this Order and the Settlement Agreement shall be expanded so as to be coterminous with such expansion, as further set forth. 4. T he Court appoints Lowey Dannenberg, P.C. and Lovell Stewart Halebian Jacobson LLP as Class Counsel to such Settlement Class for purposes of the Settlement, having determined that the requirements of Rule 23(g) of the Federal Rules of Civil Procedure are fully satisfied by this appointment. 5. The Court appoints A.B. Data, Ltd. as Settlement Administrator for purposes of the Settlement. 6. The Court appoints Citibank, N.A. as Escrow Agent for purposes of the Settlement Fund defined in the Settle ment Agreement, The Court approves the establishment of the Settlement Fund as qualified settlement funds pursuant to Section 468B of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder. 7. The Court appoints Richard Dennis, Sonterra Capital Master Fund, Ltd., FrontPoint Financial Services Fund, L.P., FrontPoint Asian Event Driven Fund, L.P., FrontPoint Financial Horizons Fund, L.P., and Fund Liquidation Holdings, LLC, and any subsequently named plaintiff(s), including Orange County Employees Retirement System ("OCERS"), will serve as representatives of such Settlement Class for purposes of the Settlement. 8. All proceedings in the Action as to JPMorgan, other than proceedings a s may be necessary to implement the proposed Settlement or to effectuate the terms of the Settlement Agreement, are hereby stayed and suspended until further order of this Court. A hearing (the "Fairness Hearing") will be held on a date o f the Court's convenience on Jan 5, 2022 at 10:00 a.m. in Courtroom 21B of this Courthouse before the undersigned, to consider the fairness, reasonableness, and adequacy of the Settlement Agreement. The foregoing date, time, and place of t he Fairness Hearing shall be set forth in the Class Notice, which is ordered herein, but shall be subject to adjournment or change by the Court without further notice to the members of the Settlement Class, other than that which may be posted at the Court or on the Settlements website at www.BBSWSettlement.com, as further set forth. (Signed by Judge Lewis A. Kaplan on 3/30/2021) (mml)