Order | Filed: April 30, 2019
| Entered: April 30, 2019
Sommer v. comScore, Inc. et al
Securities/Commodities | New York Southern
Order on Motion for Disbursement of Funds
ORDER APPROVING DISTRIBUTION PLAN granting 277 Motion for Disbursement of Funds. IT IS HEREBY ORDERED that: Lead Plaintiffs' plan for distribution of the Net Settlement Fund to Authorized Claimants is APPROVED. Accordingly: The administrative recommendations of the Court-approved Claims Administrator, JND Legal Administration ("JND"), to accept the Timely Eligible Claims stated in Exhibit D to the Ewashko Declaration and the Late But Otherwise Eligible Claims stated in Exhibit E to the Ewashko Declaration, are adopted; The Claims Administrator's administrative recommendations to reject wholly ineligible Claims, as stated in Exhibit F to the Ewashko Declaration, are adopted; JND is directed to conduct an Initial Distribution of the Net Settlement Fund, after deducting all payments previously allowed and the payments approved by this Order, and after deducting the payment of any estimated taxes, the costs of preparing appropriate tax returns, and any escrow fees, while maintaining a 10% reserve from the Net Settlement Fund to address any contingencies that may arise, as stated in paragraph 45(a) of the Ewashko Declaration (the "Distribution"). Specifically, as stated in paragraph 45(a) of the Ewashko Declaration: (I) JND will calculate award amounts for all Authorized Claimants as if the entire Net Settlement Fund were to be distributed now. In accordance with the Court approved Plan of Allocation, JND will calculate each Authorized Claimant's pro rata share of the Net Settlement Fund as stated in subparagraph 45(a)(l) of the Ewashko Declaration; (2) JND will, in accordance with the terms of the Court-approved Plan of Allocation, calculate the total amount each Authorized Claimant would recover in accordance with the calculations stated in subparagraph (c)(l) above and then it will eliminate from the distribution any Authorized Claimant whose total pro rata share of the Net Settlement Fund is less than $10.00. These Claimants will not receive any payment from the Net Settlement Fund and will be so notified by JND; (3) After eliminating Claimants who would have received less than $10.00, JND will calculate the pro rata shares of the Net Settlement Fund for Authorized Claimants who would have received $10.00 or more (the "Distribution Amount"); (4) Authorized Claimants whose Distribution Amount calculates to less than $100.00 under subparagraph (c)(3) above will be paid their full Distribution Amount in the Initial Distribution ("Claims Paid in Full"). These Authorized Claimants will get no additional funds in subsequent distributions; (5) 90% of the remaining balance of the Net Settlement Fund will be distributed pro rata to Authorized Claimants whose Distribution Amount calculates to $10.00 or more under subparagraph (c)(3) above. The remaining 10% of the Net Settlement Fund will be held in reserve (the "Reserve") to address any contingencies that may arise. To the extent the Reserve is not depleted, the remainder will be distributed in the "Second Distribution" described in subparagraph (f) below. In order to encourage Authorized Claimants to promptly cash their checks, all Distribution checks will bear the following notation: "CASH PROMPTLY. VOID AND SUBJECT TO REDISTRIBUTION IF NOT CASHED BY [DATE 90 DAYS AFTER ISSUE DATE]." Lead Counsel and JND are authorized to take appropriate action to locate and contact any Authorized Claimant who has not cashed his, her, or its check within said time as detailed in paragraph 45(b) footnote 4 of the Ewashko Declaration; No new Claims may be accepted after February 28, 2019, and no further adjustments to Claims received on or before February 28, 2019, that would result in an increased Recognized Claim amount may be made for any reason after February 28, 2019, subject to the following exception. If Claims are received or modified after February 28, 2019, that would have been eligible for payment or additional payment under the Plan of Allocation if timely received, then, at the time that Lead Counsel, in consultation with JND, determines a distribution is not cost-effective as provided in subparagraph (g) above, and after payment of any unpaid fees or expenses incurred in connection with administering the Net Settlement Fund and after deducting the payment of any estimated taxes, the costs of preparing appropriate tax returns, and any escrow fees, these Claimants, at the discretion of Lead Counsel, may be paid their distribution amounts or additional distribution amounts on a pro rata basis that would bring them into parity with other Authorized Claimants who have cashed all their prior distribution checks to the extent possible; All persons involved in the review, verification, calculation, tabulation, or any other aspect of the processing of the Claims submitted, or who are otherwise involved in the administra... (truncated)