In Re Scworx Corp. Derivative Litigation, No. 1:2020cv04554 - Document 33 (S.D.N.Y. 2022)

Court Description: FINAL JUDGMENT : IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that: 1. This Judgment incorporates by reference the definitions in the Stipulation, and all capitalized terms used herein shall have the same meanings as set forth in the Stipulation. 2. This Court has jurisdiction over the subject matter of the Consolidated Derivative Action, including all matters necessary to effectuate the Settlement, and over the Parties. 3. The Court finds that the form of the notice of the Settlement a nd the means of dissemination of the notice of the Settlement provided to Current SCWorx Shareholders constituted the best notice practicable under the circumstances and fully satisfied the requirements of Rule 23.1 of the Federal Rules of Civi l Procedure and the requirements of due process. 4. The Court hereby approves the Settlement set forth in the Stipulation and finds that the Settlement is, in all respects, fair, reasonable, and adequate to each of the Parties, and fu1ther f inds that the Settlement is in the best interests of SCWorx and its shareholders. As further set forth in this order. The Court hereby approves the sum of $300,000 for the payment of Plaintiffs' Counsel's attorneys' fees and expenses ("Fee and Expense Amount") and finds that the Fee and Expense Amount is fair and reasonable. No other fees, costs, or expenses may be awarded to Plaintiffs' Counsel in connection with the Settlement. The Fee and Expense Amount shall be distributed in accordance with the terms of the Stipulation. The Court hereby approves the Service Awards of $1,500 for each of the three Plaintiffs to be paid from Plaintiffs' Counsel's Fee and Expense Amount in recogniti on of Plaintiffs' participation and effort in the prosecution of the Derivative Actions. As further set forth in this order. This Judgment is a final judgment, and the Court finds that no just reason exists for delay in entering this Judgme nt in accordance with the Stipulation. Accordingly, the Clerk is hereby directed to enter this Judgment forthwith in accordance with Rule 58 of the Federal Rules of Civil Procedure. IT IS SO ORDERED. (Signed by Judge John G. Koeltl on 6/29/2022) (ks)