GENEVA ROCK PRODUCTS, INC v. USA
||GENEVA ROCK PRODUCTS, INC
||December 30, 2008
||United States Federal Claims Court
||Charles F. Lettow
|Nature of Suit:
|Cause of Action:
|Jury Demanded By:
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|January 27, 2015
REPORTED OPINION: The Clerk is directed to enter judgment. Plaintiffs' Motion for the Approval of Settlement is GRANTED, and plaintiffs' Motion for Court Approval of Fees is GRANTED IN PART. The total settlement award to class plaintiffs is $24,032,540.91, consisting of (a) $14,094,500.00 in principal for the value of the property taken, (b) $8,918,488.58 in interest calculated through November 30, 2014, and (c) $696,753.80 in statutory attorneys' fees and 036;322,798.53 in litigation costs, both under the Uniform Relocation Act. Class counsel shall retain a 17.5% contingent fee, which fee shall be calculated upon a base amount consisting of the principal and interest payments specified in the se ttlement agreement. Counsel shall retain the agreed statutory fee and costs and as such, class members shall receive a dollar-for-dollar credit against the contingent fee for the statutory fee paid by the government. Class counsel shall receive the settlement award, shall disburse payments in accord with the settlement agreement, and shall file a notice of compliance once payment has been made. To account for the delay in payment after November 30, 2014, the total interest paid by the governme nt shall increase until the date the judgment is paid using the same method of interest computation as that employed in the settlement agreement, at an annual interest rate of 4.2%. The contingent fee to which class counsel is entitled shall be adjusted upward accordingly. The claims of those class members respecting which the government has previously been granted summary judgment on liability are dismissed, as are those whose claims are not listed for an award in the settlement agreement. Costs have already been encompassed in the settlement agreement. Signed by Judge Charles F. Lettow. (co)
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