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Opinion Approving Settlement - Public Interest Law Center of ...

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Case 2:94-cv-04048-ER Document 330 Filed 09/19/2005 Page 33 <strong>of</strong> 51In addition, the Court has the statutory role <strong>of</strong>verifying that the <strong>Settlement</strong> Agreement is “fair, reasonable, andadequate.” Fed. R. Civ. P. 23(e)(1)(C). In Girsh, the ThirdCircuit enumerated certain factors that district courts mayconsider in determining whether to grant final approval <strong>of</strong> aclass action settlement. Id. at 157. The Girsh factors include:(1) the complexity, expense andlikely duration <strong>of</strong> the litigation .. .; (2) the reaction <strong>of</strong> the classto the settlement . . . ; (3) thestage <strong>of</strong> the proceedings and theamount <strong>of</strong> discovery completed . . .; (4) the risks <strong>of</strong> establishingliability . . . ; (5) the risks <strong>of</strong>establishing damages . . . ; (6)the risks <strong>of</strong> maintaining the classaction through the trial . . . ;(7) the ability <strong>of</strong> the defendantsto withstand a greater judgment;(8) the range <strong>of</strong> reasonableness <strong>of</strong>the settlement fund in light <strong>of</strong> thebest possible recovery . . . ; (9)the range <strong>of</strong> reasonableness <strong>of</strong> thesettlement fund to a possiblerecovery in light <strong>of</strong> all theattendant risks <strong>of</strong> litigation . . ..Id. (quoting City <strong>of</strong> Detroit v. Grinnell Corp., 495 F.2d 448, 463(2d Cir. 1974)).These factors, however, are not exclusive. Nor arethey all relevant to every class action. Id. at 156 (stating“[s]ome <strong>of</strong> the factors which are relevant to a determination <strong>of</strong>the fairness <strong>of</strong> a settlement [are] . . . as follows.”). In fact,the Third Circuit has suggested that district courts consider33

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