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DG FastChannel Inc.
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Order | Filed: March 02, 2016 | Entered: March 03, 2016 In re: DG FASTCHANNEL, INC. SECURITIES LITIGATION
Securities/Commodities | New York Southern
Order on Motion for Disbursement of Funds
ORDER APPROVING DISTRIBUTION OF NET SETTLEMENT FUND granting 46 Motion for Disbursement of Funds. IT IS HEREBY ORDERED, ADJUDGED AND DECREED that: 1. All of the capitalized terms used herein shall have the same meanings as set forth in the Stipulation and Agreement of Settlement, previously approved by the Court (the "Stipulation"). (ECF No. 28-1.) 2. The administrative recommendations of Strategic Claims Services ("SCS"), the Court-appointed Claims Administrator, to accept the Proof of Claim and Release forms ("Proofs of Claim"), including the late but otherwise valid Proofs of Claim, listed in Exhibits B-1 and 8-2 to the Declaration of Paul Mulholland, CPA, Concerning Administrative Procedures Performed to Process Claims and the Results thereof, dated January 25, 2016 ("Mulholland Declaration"), are hereby APPROVED. 3. As determined by the Claims Administrator, wholly rejected or otherwise ineligible Proofs of Claim are hereby REJECTED. 4. The initial distribution of the Net Settlement Fund to Authorized Claimants is hereby AUTHORIZED and shall be conducted in accordance with the Stipulation and distribution plan for payment of the Net Settlement Fund, set forth in paragraph 20 of the Mulholland Declaration, which is hereby APPROVED. 5. New or adjusted Proofs of Claim received after January 18, 2016 will be rejected as untimely and will not be accepted for any reason. 6. A payment in the amount of $6,381.20 from the Settlement Fund for the fees and expenses of the Claims Administrator, SCS, to be incurred in connection with the initial distribution of the Net Settlement Fund is hereby APPROVED. If the actual fees and expenses incurred in conducting the distribution are Jess than this amount, the Settlement Fund shall be reimbursed by SCS. 7. Pursuant to the Stipulation, if there is a remaining balance in the Net Settlement Fund after at least six (6) months from the date of initial distribution of the Net Settlement Fund, Lead Counsel shall, if feasible and economical, reallocate such balance among Authorized Claimants who have cashed their checks in an equitable and economic fashion, with additional redistributions thereafter until SCS and Lead Plaintiff determine that further redistribution is not cost-effective. Pursuant to the Stipulation, any balance that still remains in the Net Settlement Fund, after payment of Notice and Administration Expenses and Taxes, if any, shall be contributed to non-sectarian, not-for-profit charitable organizations serving the public interest, designated by Lead Plaintiff and Lead Counsel. 8. The administration of the Settlement and the proposed distribution of the Net Settlement Fund comply with the terms of the Court-approved Stipulation and the Plan of Allocation. 9. SCS is authorized to destroy paper copies of the Proofs of Claim and all supporting documents one year after the initial distribution of the Net Settlement Fund, and to destroy electronic copies of the same three years after the initial distribution of the Net Settlement Fund. 10. The Court retains jurisdiction to consider any further applications concerning the administration of the Settlement, and such other and further relief as this Court deems appropriate. (Signed by Judge Richard J. Sullivan on 3/2/2016) (mro)
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Response | Filed: January 26, 2016 | Entered: January 26, 2016 In re: DG FASTCHANNEL, INC. SECURITIES LITIGATION
Securities/Commodities | New York Southern
Declaration in Support of Motion
DECLARATION of Paul Mulholland in Support re: 46 MOTION for Disbursement of Funds Approving Distribution of Net Settlement Fund.. Document filed by Norfolk County Retirement System. (Attachments: # 1 Exhibit A, # 2 Exhibit B-1, # 3 Exhibit B-2, # 4 Exhibit C, # 5 Exhibit D, # 6 Exhibit E, # 7 Exhibit F)(Gardner, Jonathan)
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Response | Filed: January 26, 2016 | Entered: January 26, 2016 In re: DG FASTCHANNEL, INC. SECURITIES LITIGATION
Securities/Commodities | New York Southern
Memorandum of Law in Support of Motion
MEMORANDUM OF LAW in Support re: 46 MOTION for Disbursement of Funds Approving Distribution of Net Settlement Fund. . Document filed by Norfolk County Retirement System. (Gardner, Jonathan)
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