Joint Declaration of Lynn L. Sarko and Marc I ... - Cohen Milstein
Joint Declaration of Lynn L. Sarko and Marc I ... - Cohen Milstein
Joint Declaration of Lynn L. Sarko and Marc I ... - Cohen Milstein
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TABLE OF CONTENTS<br />
I. INTRODUCTION ............................................................................................................ 1<br />
II. PROCEDURAL AND LITIGATION HISTORY............................................................ 2<br />
A. Investigation <strong>and</strong> Preparation <strong>of</strong> Comprehensive Claims..................................... 2<br />
B. The Motions to Dismiss........................................................................................ 4<br />
C. Discovery .............................................................................................................. 6<br />
D. Settlement Negotiations........................................................................................ 7<br />
E. Terms <strong>of</strong> the Settlement...................................................................................... 11<br />
1. Settlement Class...................................................................................... 11<br />
a. Settlement Amount ..................................................................... 12<br />
b. Released Claims.......................................................................... 12<br />
c. Plan <strong>of</strong> Allocation ....................................................................... 12<br />
d. Confirmation............................................................................... 13<br />
III. THE FORMS AND METHODS OF NOTICE EMPLOYED HERE<br />
SATISFY RULE 23 AND DUE PROCESS................................................................... 13<br />
IV. THE SETTLEMENT WARRANTS THE COURT’S APPROVAL.............................. 15<br />
A. The Complexity, Expense, <strong>and</strong> Likely Duration <strong>of</strong> the Litigation ..................... 15<br />
B. The Class’s Reaction to the Settlement .............................................................. 17<br />
C. The Stage <strong>of</strong> the Proceedings <strong>and</strong> Discovery Completed................................... 18<br />
D. The Risk <strong>of</strong> Establishing Liability ...................................................................... 19<br />
E. The Risk <strong>of</strong> Establishing Damages..................................................................... 24<br />
F. The Risk <strong>of</strong> Maintaining the Class Action Through Trial .................................. 27<br />
G. The Ability <strong>of</strong> Defendants to Withst<strong>and</strong> a Greater Judgment............................. 27<br />
H. The Reasonableness <strong>of</strong> the Settlement in Light <strong>of</strong> the Best Possible<br />
Recovery <strong>and</strong> the Attendant Risks <strong>of</strong> Litigation................................................. 28<br />
V. CLASS CERTIFICATION............................................................................................. 28<br />
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