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Securities/Commodities | New York Southern
Order
ORDER GRANTING DISTRIBUTION OF CLASS ACTION SETTLEMENT FUND granting 378 Motion for Disbursement of Funds. NOW, THEREFORE, IT IS HEREBY ORDERED THAT: 1. The Motion is GRANTED. 2. This Class Distribution Order is entered pursuant to the Final Jud gment in this action (ECF No. 368) and incorporates by reference the definitions in the Amended Stipulation of Settlement dated April 14, 2023 (the "Stipulation") (ECF No. 347). All terms not otherwise defined shall have the same meaning a s set forth in the Stipulation or the Cormio Declaration. As further set forth in this Order. If any funds remain in the Net Settlement Fund by reason of uncashed checks, or otherwise, after the Claims Administrator has made reasonable and dilige nt efforts to have Authorized Claimants who are entitled to participate in the distribution of the Net Settlement Fund cash their distribution checks, then any balance remaining in the Net Settlement Fund nine months after the initial distribution of such funds shall be used to: (i) pay any additional Notice and Administration Costs incurred in administering the Settlement; and (ii) to make a second distribution to Authorized Claimants who cashed their checks from the initial distribution and who would receive at least $10.00 from such second distribution, after payment of the estimated Taxes, Tax Expenses, costs and fees to be incurred in administering the Net Settlement Fund and in making this second distribution, if such s econd distribution is economically feasible. Additional redistributions to Authorized Claimants who have cashed their prior checks and who would receive at least $10.00 on such additional redistributions may occur thereafter if Lead Counsel, i n consultation with the Claims Administrator, determines that additional redistributions, after the deduction of any additional estimated costs, fees, Taxes and Tax Expenses incurred in administering the Settlement, including for such redistributio ns, would be cost-effective. As further set forth in this Order. This Court retains jurisdiction over any further application or matter which may arise in connection with this Action.. (Signed by Judge Louis L. Stanton on 11/8/2024) (ks) Transmission to Finance Unit (Cashiers) for processing.
Notice to Court Regarding Proposed Order
***NOTICE TO COURT REGARDING PROPOSED ORDER. Document No. 381 Proposed Order was reviewed and approved as to form. (tp)
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