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Securities/Commodities | New York Southern
Order
ORDER On December 23, 2020, the Court consolidated this action into the action previously pending before this Court under Docket Number 20-CV-08430, entitled Kristal v. Mesoblast Limited, et al. ("Kristal"), for all purposes. (Doc. 7). O n August 15, 2022, the consolidated class action was settled and Judgment was entered. (Kristal Doc. 90). In light of the terms of the consolidation order and entry of Judgment, this action is no longer pending before the Court and should be terminated. Accordingly, the Clerk of Court is respectfully requested to close this case. (Signed by Judge Philip M. Halpern on 3/19/2024) (jca)
ORDER GRANTING PLAINTIFFS' MOTION FOR DISTRIBUTION OF CLASS ACTION SETTLEMENT FUNDS granting 93 Motion for Disbursement of Funds. IT IS HEREBY ORDERED THAT: 1. Plaintiffs' Motion for Distribution of Class Action Settlement Funds is GRA NTED. 2. The funds that are currently in the Net Settlement Fund (less any necessary amounts to be withheld for payment of potential tax liabilities and related fees and expenses) shall be distributed on a pro rata basis to the Auth orized Claimants identified in Exhibits B-1 and B-2 to the Declaration of Josephine Bravata Concerning the Results of the Claims Administration Process ("Bravata Declaration"), at the direction of Lead Counsel, The Rosen Law Firm P.A., pursuant to the Stipulation and Agreement of Settlement filed with the Court on March 28, 2022 (the "Stipulation") (Dkt. No. 70) and the Plan of Allocation of the Net Settlement Fund set forth in the Notice of Pendency a nd Proposed Settlement of Class Action that was distributed pursuant to this Court's prior Order. 3. Any person asserting any rejected or subsequently filed claims are finally and forever barred as of February 8, 2023, the date used to final ize the administration based on the Bravata Declaration. 4. The Court finds that the administration of the Settlement and proposed distribution of the Net Settlement Fund comply with the terms of the Stipulation and the Plan of Allocation and that all persons involved in the review, verification, calculation, tabulation, or any other aspect of the processing of the claims submitted herein, or otherwise involved in the administration or taxation of the Settlement Fund or the Net Settlement Fund, including, but not limited to Class Counsel and the Court-appointed Claims Administrator, Strategic Claims Services ("SCS"), are released and discharged from any and all claims arising out of such involvement, and a ll Class Members are barred from making any further claims against the Net Settlement Fund or the Released Parties beyond the amount allocated to them pursuant to this Order. After the initial distribution of the Net Settlement Fu nd, the Claims Administrator shall make reasonable and diligent efforts to have Authorized Claimants cash their distribution checks. To the extent Lead Counsel, in consultation with the Claims Administrator, determines that it is cost-effecti ve to do so, the Claims Administrator shall conduct a re-distribution of the funds remaining after payment of any unpaid fees and expenses incurred in administering the Settlement, including for such re-distribution, to Author ized Claimants who have cashed their initial distributions and who would receive at least $10.00 from such re-distribution. Additional re-distributions to Authorized Claimants who have cashed their prior checks and who would receive at least $10.00 on such additional re-distributions may occur thereafter if Lead Counsel, in consultation with the Claims Administrator, determines that additional re-distributions, after the deduction of any add itional fees and expenses incurred in administering the Settlement, including for such redistributions, would be cost-effective. At such time as it is determined that the re-distribution of funds remaining in the Net Settlement Fund is not cost-effective, the remaining balance shall be contributed to non-sectarian, not-for-profit organization(s), to be recommended by Lead Counsel. As further set forth by this Order. (Signed by Judge Philip M. Halpern on 2/15/2023) (tg) Transmission to Finance Unit (Cashiers) for processing. Modified on 2/15/2023 (tg).
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