Fogarazzo, et al v. Lehman Brothers, et al
| Lehman Brothers, Inc., Goldman, Sachs & Company and Morgan Stanley & Co., Incorporated |
| 1:2003cv05194 |
| August 4, 2009 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| Shira A. Scheindlin |
| Securities/Commodities |
| 15 U.S.C. ยง 78 m(a) Securities Exchange Act |
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Filing
106
MEMORANDUM OPINION AND ORDER: Based upon the submissions of Class Counsel, as well as the argument presented at the Fairness Hearing, the Court hereby awards Class Counsel attorneys' fees equal to one-third of the Settlement Fund ($2,250,00 0.00). This award recognizes the extensive level of services devoted to the Class over the past seven and one-half years of litigation, balanced against the interests of the Class in realizing a fair, reasonable and adequate outcome from this matter. In addition, the Court finds that such an award is fair and reasonable to the Class and Class Counsel given the results achieved and the nearly $4.4 million lodestar figure. Lead Plaintiffs' Counsel are also entitled to $211,596.69 in unreimbursed litigation expenses, for an aggregate award of $2,461,596.69. Furthermore, the Court awards the Lead Plaintiffs the aggregate amount of $32,000.00 from the Settlement Fund, in recognition of the value of their services expende d on behalf of the Class. These awards are to be allocated in the manner set forth above. In sum, based upon materials submitted to the Court and the oral argument at the January 31, 2011 Fairness Hearing, I find that the proposed Settlement is fair, reasonable and adequate, as is the proposed Plan of Allocation. This Court hereby approves both the Settlement between the Class and the Settling Defendants as well as the Proposed Plan of Allocation. Also approved is Lead Plaintiffs' request for incentive awards totaling $32,000.00 and Class Counsel's request for attorneys' fees and costs in the amount of $2,461,596.69. (Signed by Judge Shira A. Scheindlin on 2/23/2011) (jfe) Modified on 2/23/2011 (jfe).
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Filing
87
OPINION AND ORDER: #97839 granting 75 Motion to Certify Class; granting 75 Motion to Appoint Counsel. The class will consist of all purchasers of the common stock of RSL during the period from 4/30/09 through and including 12/29/00. Lawrence Foga razzo, Carolyn Fogarazzo, Stephen L. Hopkins, and Don Engel are appointed as class representatives. Trinko is appointed as Class Counsel. The Clerk of the Court is directed to close this motion (document no. 75). A conference is scheduled for 8/13/09 at 4:30 pm. (Signed by Judge Shira A. Scheindlin on 8/4/09) (cd) Modified on 8/6/2009 (jab).
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