Declaration of K. Rehns in Support of Plaintiffs' Motion for - Lehman ...
Declaration of K. Rehns in Support of Plaintiffs' Motion for - Lehman ...
Declaration of K. Rehns in Support of Plaintiffs' Motion for - Lehman ...
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Case 1:09-md-02017-LAK Document 666-1 Filed 01/13/12 Page 41 <strong>of</strong> 74<br />
or <strong>in</strong> any preced<strong>in</strong>g compla<strong>in</strong>ts (or <strong>in</strong> any <strong>for</strong>um or proceed<strong>in</strong>g or otherwise), and (ii) are based<br />
upon the purchase or acquisition <strong>of</strong> the Certificates. Notwithstand<strong>in</strong>g the <strong>for</strong>ego<strong>in</strong>g, the Class<br />
will not release any claims relat<strong>in</strong>g to the en<strong>for</strong>cement <strong>of</strong> the settlement. Released Parties’<br />
Claims shall also <strong>in</strong>clude any pro<strong>of</strong>s <strong>of</strong> claims that Pla<strong>in</strong>tiffs and Intervenors have filed <strong>in</strong> the<br />
Bankruptcy Case that come with<strong>in</strong> the-scope <strong>of</strong> the <strong>for</strong>ego<strong>in</strong>g release, <strong>in</strong>clud<strong>in</strong>g without<br />
limitation pro<strong>of</strong>s <strong>of</strong> claim nos. 22023, 27760 and 22024 (collectively, all such pro<strong>of</strong>s <strong>of</strong> claim the<br />
“Pro<strong>of</strong>s <strong>of</strong> Claim”). The Pro<strong>of</strong>s <strong>of</strong> Claims shall, upon the Effective Date, be disallowed with<br />
prejudice, and, with<strong>in</strong> ten bus<strong>in</strong>ess days <strong>of</strong> the Effective Date, Pla<strong>in</strong>tiffs and Intervenors shall file<br />
a notice on the docket <strong>in</strong> the Bankruptcy Case withdraw<strong>in</strong>g the Pro<strong>of</strong>s <strong>of</strong> Claim.<br />
WHAT PAYMENT ARE THE ATTORNEYS FOR THE CLASS SEEKING<br />
HOW WILL THE LAWYERS’ BE PAID<br />
56. Lead Counsel has not received any payment <strong>for</strong> its services <strong>in</strong> pursu<strong>in</strong>g claims<br />
aga<strong>in</strong>st Defendants on behalf <strong>of</strong> the Settlement Class, nor has Lead Counsel been reimbursed <strong>for</strong><br />
its out-<strong>of</strong>-pocket expenses. Be<strong>for</strong>e f<strong>in</strong>al approval <strong>of</strong> the Settlement, Lead Counsel <strong>in</strong>tends to apply<br />
to the Court <strong>for</strong> an award <strong>of</strong> attorneys’ fees from the Settlement Fund <strong>in</strong> an amount not to exceed<br />
20% <strong>of</strong> the Settlement Fund (or $8,000,000.00), net <strong>of</strong> Court-approved Litigation Expenses, plus<br />
<strong>in</strong>terest at the same rate and <strong>for</strong> the same time period as earned by the Settlement Fund. At the<br />
same time, Lead Counsel also <strong>in</strong>tends to apply <strong>for</strong> the reimbursement <strong>of</strong> certa<strong>in</strong> Litigation<br />
Expenses <strong>in</strong> an amount not to exceed $750,000.00, plus <strong>in</strong>terest at the same rate and <strong>for</strong> the same<br />
time period as earned by the Settlement Fund. Litigation Expenses may <strong>in</strong>clude reimbursements<br />
<strong>for</strong>, among other th<strong>in</strong>gs, lost wages and litigation related expenses <strong>of</strong> Pla<strong>in</strong>tiffs and Intervenors <strong>in</strong><br />
accordance with 15 U.S.C. § 77aa. The sums approved by the Court will be paid from the<br />
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