DISTRIBUTION TO AUTHORIZED CLAIMANTS. 18. Except as provided herein, each Settlement Class Member must submit a valid Claim Form, prepared in accordance with 28 U.S.C. §1746 with a sworn affidavit and documentary proof of the purchase(s) of one or more Settlement Products during the relevant time periods as described above, to be eligible to be paid any portion of the Net Settlement Fund. Each Settlement Class Member who previously submitted a valid Claim Form pursuant to the Initial Agreement shall be deemed to have submitted a valid Claim Form under the terms of this Agreement if that previously submitted, valid Claim Form was supported by documentary proof of purchase(s) of one or more Settlement Products during the relevant time periods. In addition to those who submit or submitted a valid Claim Form, those Settlement Class Members who have been identified as such from the records of Babies “R” Us provided to the Claims Administrator shall be deemed Authorized Claimants. Any Settlement Class Member who submitted or submits a timely request for exclusion shall not be an Authorized Claimant. The Claims Administrator shall determine each Authorized Claimant’s respective Authorized Claim based upon a review of each Authorized Claimant’s Claim Form or the records of Babies “R” Us (for those Authorized Claimants identified through such records) in the manner described in the Notice or as otherwise approved by the Court. 19. Subject to approval by the Court, the Net Settlement Fund will be allocated to the Settlement Subclasses as set forth in the Allocation Order. In the event the Court disapproves of or modifies the Allocation Order except with respect to the payment of the Final Remaining Amount (as defined in the Allocation Order) to Defendants, such disapproval or modification shall have no effect on the terms of the Settlement or the Effective Date. 20. Each Authorized Claimant shall be paid a share of the Net Settlement Fund based on his or her Authorized Claim as set forth in the Allocation Order. The Payments shall be made by checks valid for 90 days. Thereafter, to the extent there are portions of the Settlement Fund remaining as a result of uncashed checks, unclaimed funds or otherwise, such funds, defined in the Allocation Order as the Final Remaining Amount, shall be paid to Defendants within ten (10) days of the determination of the Final Remaining Amount in such manner as Defendants shall jointly instruct the Settlement Trustees and/or the Claims Administrator. Upon such payment, coupons in a total cumulative amount up to the Final Remaining Amount paid to the Defendants, in the form set forth in Exhibit I (the “Coupons”), shall be issued and distributed to Authorized Claimants who have cashed or deposited the portion of the Net Settlement Fund distributed to them but not received the maximum Enhanced Authorized Payment (as defined the Allocation Order) in the manner described more fully in the Allocation Order. Once distributed, the Coupons are fully transferrable. 21. Upon distributions of the Settlement Fund and, if applicable, Coupons to Authorized Claimants, all taxes due, if any, on any amounts distributed shall be the responsibility of the Authorized Claimants. Following the Effective Date, nothing herein precludes the Settlement Trustees, upon approval by the Court, from establishing a reserve from the Settlement Fund to pay any taxes that will be owed for the period prior to distribution of the Settlement Fund, but are not yet due, and for expenses related to payment of such taxes or filing of such tax returns. 22. [INTENTIONALLY OMITTED]
Appears in 1 contract
Samples: Settlement Agreement
DISTRIBUTION TO AUTHORIZED CLAIMANTS. 18. Except as provided herein, each Settlement Class Member must submit a valid Claim Form, prepared in accordance with 28 U.S.C. §1746 with a sworn affidavit and documentary proof of the purchase(s) of one or more Settlement Products during the relevant time periods as described above, to be eligible to be paid any portion of the Net Settlement Fund. Each Settlement Class Member who previously submitted a valid Claim Form pursuant to the Initial Agreement shall be deemed to have submitted a valid Claim Form under the terms of this Agreement if that previously submitted, valid Claim Form was supported by documentary proof of purchase(s) of one or more Settlement Products during the relevant time periods. In addition to those who submit or submitted a valid Claim Form, those Settlement Class Members who have been identified as such from the records of Babies “R” Us provided to the Claims Administrator shall be deemed Authorized Claimants. Any Settlement Class Member who submitted or submits a timely request for exclusion shall not be an Authorized Claimant. A. The Claims Administrator shall determine each Authorized Claimant’s respective Authorized Claim 's pro rata share of the Settlement Fund based upon a review of each Authorized Claimant’s Claim Form or the records of Babies “R” Us (for those Authorized Claimants identified through such records) in the manner described in the Notice or as otherwise approved by the Court.
19. Subject to approval by the Court, the Net Settlement Fund will be allocated to the Settlement Subclasses as set forth in the Allocation Order. In the event the Court disapproves of or modifies the Allocation Order except with respect to the payment of the Final Remaining Amount 's Recognized Loss (as defined in the Plan of Allocation Order) to Defendantsdescribed in the Notice annexed hereto as Exhibit B, or in such disapproval or modification shall other Plan of Allocation as the Court approves). Homestore will have no effect on responsibility for, or involvement in, reviewing or challenging claims.
B. The Plan of Allocation proposed in the terms Notice is not a necessary term of this Stipulation, and it is not a condition of this Stipulation that the Plan of Allocation be approved.
C. Any member of the Settlement or the Effective Date.
20. Each Authorized Claimant shall Class who fails to submit a valid Proof of Claim will not be paid a share entitled to receive any of the Net Settlement Fund based on his or her Authorized Claim as set forth in the Allocation Order. The Payments shall be made by checks valid for 90 days. Thereafter, to the extent there are portions of the Settlement Fund remaining as a result of uncashed checks, unclaimed funds or otherwise, such funds, defined in the Allocation Order as the Final Remaining Amount, shall be paid to Defendants within ten (10) days of the determination of the Final Remaining Amount in such manner as Defendants shall jointly instruct the Settlement Trustees and/or the Claims Administrator. Upon such payment, coupons in a total cumulative amount up to the Final Remaining Amount paid to the Defendants, in the form set forth in Exhibit I (the “Coupons”), shall be issued and distributed to Authorized Claimants who have cashed or deposited the portion of the Net Settlement Fund distributed to them but not received the maximum Enhanced Authorized Payment (as defined the Allocation Order) in the manner described more fully in the Allocation Order. Once distributed, the Coupons are fully transferrable.
21. Upon distributions of the Settlement Fund and, if applicable, Coupons to Authorized Claimants, all taxes due, if any, on any amounts distributed shall be the responsibility of the Authorized Claimants. Following the Effective Date, nothing herein precludes the Settlement Trustees, upon approval by the Court, proceeds from establishing a reserve from the Settlement Fund to pay any taxes that will be owed for the period prior to distribution of the Settlement Fund, but will be otherwise bound by all the terms of this Stipulation and the Settlement, including the terms of the Order and Final Judgment to be entered in the Action and the releases provided for herein, and will be barred from bringing any action against the Released Homestore Parties with respect to the Settled Claims.
D. For purposes of determining the extent, if any, to which a Class member shall be entitled to be treated as an "Authorized Claimant" the following conditions shall apply:
(i) Each Class Member shall be required to submit a Proof of Claim (see attached Exhibit D), signed under penalty of perjury and supported by such documentation as described therein, including proof of the Claimant's loss, or such other documents or proof as Lead Counsel, in its discretion, may deem acceptable and subject to approval of the Court;
(ii) All Proofs of Claim must be submitted by the date specified in the Notice unless such period is extended by Order of the Court. Provided that it is received before the motion for the Class Distribution Order is filed, a Proof of Claim shall be deemed to have been submitted when posted, if received with a postmark indicated on the envelope and if mailed first-class postage prepaid and addressed in accordance with the instructions thereon. In all other cases, the Proof of Claim shall be deemed to have been submitted when actually received by the Claims Administrator;
(iii) Each Proof of Claim shall be submitted to and reviewed by the Claims Administrator, under the supervision of Lead Counsel, who shall determine in accordance with this Stipulation the extent, if any, to which each claim shall be allowed, subject to review by the Court pursuant to subparagraph (v) below;
(iv) Proofs of Claim that do not meet the submission requirements may be rejected. Prior to rejection of a Proof of Claim, the Claims Administrator shall communicate with the Claimant in order to afford the Claimant the opportunity to remedy curable deficiencies in the Proof of Claim submitted. The Claims Administrator, under supervision of Lead Counsel, shall notify, in a timely fashion and in writing, all Claimants whose Proofs of Claim they propose to reject in whole or in part, setting forth the reasons therefore, and shall indicate in such notice that the Claimant whose claim is to be rejected has the right to review by the Court if the Claimant so desires and complies with the requirements of subparagraph (v) below;
(v) If any Claimant whose claim has been rejected in whole or in part desires to contest such rejection, the Claimant must, within twenty (20) days after the date of mailing of the notice required in subparagraph (iv) above, serve upon the Claims Administrator a notice and statement of the reasons indicating the Claimant's grounds for contesting the rejection along with any supporting documentation, and requesting review thereof by the Court. If a dispute concerning the claim cannot otherwise be resolved, Lead Counsel shall thereafter present the request for review to the Court;
(vi) The administrative determinations of the Claims Administrator accepting and rejecting claims shall be presented to the Court for approval by the Court in the Class Distribution Order.
E. Each Claimant shall be deemed to have submitted to the jurisdiction of the Court with respect to the Claimant's claim, and the claim will be subject to investigation and discovery under the Federal Rules of Civil Procedure, provided that such investigation and discovery shall be limited to the Claimant's status as a Class Member and the validity and amount of the Claimant's Claim. No discovery shall be allowed on the merits of the Action or the Settlement in connection with processing Proofs of Claim.
F. Payment pursuant to this Stipulation shall be deemed final and conclusive against all Class Members. All Class members whose claims are not yet dueapproved by the Claims Administrator or the Court shall be barred from participating in distributions from the Settlement Fund, but shall otherwise be bound by all of the terms of this Stipulation and Settlement, including the terms of the Order and Final Judgment to be entered in the Action and the releases provided for herein, and for expenses related will be barred from bringing any action against the Released Homestore Parties with respect to payment of such taxes or filing of such tax returnsthe Settled Claims.
22. [INTENTIONALLY OMITTED]G. All proceedings with respect to the administration, processing and determination of claims described in this Stipulation and the determination of all controversies relating thereto, including disputed questions of law and fact with respect to the validity of claims, shall be subject to the jurisdiction of the Court.
H. Any Member of the Class wishing to be excluded from the Class shall mail a written request for exclusion, in the manner set forth in the Order for Notice and Hearing attached hereto as Exhibit C.
I. The net proceeds of the Settlement Fund shall be distributed to Authorized Claimants by the Claims Administrator only after the Effective Date and after: (i) all Claims have been processed, and all Claimants whose Claims have been rejected or disallowed, in whole or in part, have been notified and provided the opportunity to be heard concerning such rejection or disallowance; (ii) all objections with respect to rejected or disallowed claims have been resolved by the Court, and all appeals therefrom have been resolved or the time therefore has expired; (iii) all matters with respect to attorneys' fees, costs, and disbursements have been resolved by the Court, all appeals therefrom have been resolved or the time therefore has expired; and (iv) all costs of administration and Taxes have been paid.
Appears in 1 contract
Samples: Settlement Agreement (Homestore Inc)
DISTRIBUTION TO AUTHORIZED CLAIMANTS. 18. Except 7.1 The Claims Administrator, subject to such supervision and direction of Co-Lead Counsel and/or the Court as provided hereinmay be necessary or as circumstances may require, each shall administer the Settlement Class Member must submit a valid Claim Form, prepared in accordance with 28 U.S.C. §1746 with a sworn affidavit and documentary proof of the purchase(s) of one or more Settlement Products during the relevant time periods as described above, to be eligible to be paid any portion of the Net Settlement Fund. Each Settlement Class Member who previously submitted a valid Claim Form pursuant to the Initial Agreement shall be deemed to have submitted a valid Claim Form under the terms of this Agreement if that previously submittedStipulation, valid Claim Form was supported by documentary proof the Court-approved Plan of purchase(s) Allocation, and subject to the jurisdiction of one the Court. Defendants and Defendants’ Counsel shall have no responsibility for (except as stated in ¶¶3.1 and 9.2 hereof), interest in, or more liability whatsoever with respect to the administration of the Settlement Products during or the relevant time periods. In addition to those who submit actions or submitted a valid Claim Form, those Settlement Class Members who have been identified as such from the records decisions of Babies “R” Us provided to the Claims Administrator and shall be deemed Authorized Claimants. Any have no liability to the Settlement Class Member who submitted or submits a timely request for exclusion shall not be an Authorized Claimant. in connection with such administration.
7.2 The Claims Administrator shall determine each Authorized Claimant’s respective Authorized Claim based upon a review of each Authorized Claimant’s Claim Form or the records of Babies “R” Us (for those Authorized Claimants identified through such records) in the manner described in the Notice or as otherwise approved by the Court.
19. Subject to approval by the Court, the Net Settlement Fund will be allocated to the Settlement Subclasses as set forth in the Allocation Order. In the event the Court disapproves of or modifies the Allocation Order except with respect to the payment of the Final Remaining Amount (as defined in the Allocation Order) to Defendants, such disapproval or modification shall have no effect on the terms of the Settlement or the Effective Date.
20. Each Authorized Claimant shall be paid a pro rata share of the Net Settlement Fund based on his or her upon each Authorized Claim Claimant’s recognized loss, as set forth in the Allocation Order. The Payments shall be made by checks valid for 90 days. Thereafter, to the extent there are portions of the Settlement Fund remaining as a result of uncashed checks, unclaimed funds or otherwise, such funds, defined in the Plan of Allocation Order included in the Notice, or in such other Plan of Allocation as the Final Remaining AmountCourt may approve.
7.3 Defendants have no role in the development of, and will take no position with respect to, the Plan of Allocation. The Plan of Allocation is a matter separate and apart from the proposed Settlement, and any decision by the Court concerning the Plan of Allocation shall not affect the validity or finality of the proposed Settlement. The Plan of Allocation is not a necessary term of this Stipulation, and it is not a condition of this Stipulation that any particular Plan of Allocation be approved by the Court. Neither Plaintiffs nor Plaintiffs’ Counsel may cancel or terminate the Stipulation or the Settlement in accordance with ¶12.1 or otherwise based on the Court’s or any appellate court’s ruling with respect to the Plan of Allocation or any Plan of Allocation in the Action. Neither Defendants nor Defendants’ Counsel shall have any responsibility or liability for reviewing or challenging claims, the allocation of the Net Settlement Fund, or the distribution of the Net Settlement Fund.
7.4 Upon the Effective Date and thereafter, and in accordance with the terms of the Stipulation, the Plan of Allocation, or such further approval and further order(s) of the Court as may be necessary or as circumstances may require, the Net Settlement Fund shall be paid distributed to Defendants within ten Authorized Claimants whose recognized claim computes to $10.00 or more.
7.5 If there is any balance remaining in the Net Settlement Fund (10whether by reason of tax refunds, uncashed checks or otherwise) days after a reasonable amount of time from the date of initial distribution of the determination Net Settlement Fund, and after payment of the Final Remaining Amount in such manner as Defendants shall jointly instruct the Settlement Trustees and/or outstanding Notice and Administration Expenses, Taxes, attorneys’ fees and expenses, and any awards to Plaintiffs, the Claims Administrator. Upon Administrator shall, if feasible, reallocate (which reallocation may occur on multiple occasions) such payment, coupons in a total cumulative amount up to the Final Remaining Amount paid to the Defendants, in the form set forth in Exhibit I (the “Coupons”), shall be issued and distributed to balance among Authorized Claimants who have cashed or deposited the portion of their checks in an equitable and economic fashion. Thereafter, any de minimis balance that still remains in the Net Settlement Fund distributed after re- distribution(s) and after payment of outstanding Notice and Administration Expenses, Taxes, and attorneys’ fees and expenses and any awards to them but not received the maximum Enhanced Authorized Payment (as defined the Allocation Order) in the manner described more fully in the Allocation Order. Once distributedPlaintiffs, the Coupons are fully transferrable.
21. Upon distributions of the Settlement Fund and, if applicable, Coupons to Authorized Claimants, all taxes due, if any, on any amounts distributed shall be donated to one or more non-profit and non-sectarian organizations unaffiliated with Defendants’ Counsel, Plaintiffs’ Counsel, or the responsibility of the Authorized Claimants. Following the Effective Date, nothing herein precludes the Settlement Trustees, upon approval by the Court, from establishing a reserve from the Settlement Fund to pay any taxes that will be owed for the period prior to distribution of the Settlement Fund, but are not yet due, and for expenses related to payment of such taxes or filing of such tax returnsParties.
22. [INTENTIONALLY OMITTED]
Appears in 1 contract
Samples: Settlement Agreement
DISTRIBUTION TO AUTHORIZED CLAIMANTS. 18. Except as provided herein, each Settlement Class Member must submit a valid Claim Form, prepared in accordance with 28 U.S.C. §1746 with a sworn affidavit and documentary proof of the purchase(s) of one or more Settlement Products during the relevant time periods as described above, to be eligible to be paid any portion of the Net Settlement Fund. Each Settlement Class Member who previously submitted a valid Claim Form pursuant to the Initial Agreement shall be deemed to have submitted a valid Claim Form under the terms of this Agreement if that previously submitted, valid Claim Form was supported by documentary proof of purchase(s) of one or more Settlement Products during the relevant time periods. In addition to those who submit or submitted a valid Claim Form, those Settlement Class Members who have been identified as such from the records of Babies “R” Us provided to the Claims Administrator shall be deemed Authorized Claimants. Any Settlement Class Member who submitted or submits a timely request for exclusion shall not be an Authorized Claimant. A. The Claims Administrator shall determine each Authorized Claimant’s respective Authorized Claim pro rata share of the Settlement Fund based upon a review of each Authorized Claimant’s Claim Form or the records of Babies “R” Us (for those Authorized Claimants identified through such records) in the manner described in the Notice or as otherwise approved by the Court.
19. Subject to approval by the Court, the Net Settlement Fund will be allocated to the Settlement Subclasses as set forth in the Allocation Order. In the event the Court disapproves of or modifies the Allocation Order except with respect to the payment of the Final Remaining Amount Recognized Loss (as defined in the Plan of Allocation Order) to Defendantsdescribed in the Notice annexed hereto as Exhibit B, or in such disapproval or modification shall other Plan of Allocation as the Court approves). Homestore will have no effect on responsibility for, or involvement in, reviewing or challenging claims.
B. The Plan of Allocation proposed in the terms Notice is not a necessary term of this Stipulation, and it is not a condition of this Stipulation that the Plan of Allocation be approved.
C. Any member of the Settlement or the Effective Date.
20. Each Authorized Claimant shall Class who fails to submit a valid Proof of Claim will not be paid a share entitled to receive any of the Net Settlement Fund based on his or her Authorized Claim as set forth in the Allocation Order. The Payments shall be made by checks valid for 90 days. Thereafter, to the extent there are portions of the Settlement Fund remaining as a result of uncashed checks, unclaimed funds or otherwise, such funds, defined in the Allocation Order as the Final Remaining Amount, shall be paid to Defendants within ten (10) days of the determination of the Final Remaining Amount in such manner as Defendants shall jointly instruct the Settlement Trustees and/or the Claims Administrator. Upon such payment, coupons in a total cumulative amount up to the Final Remaining Amount paid to the Defendants, in the form set forth in Exhibit I (the “Coupons”), shall be issued and distributed to Authorized Claimants who have cashed or deposited the portion of the Net Settlement Fund distributed to them but not received the maximum Enhanced Authorized Payment (as defined the Allocation Order) in the manner described more fully in the Allocation Order. Once distributed, the Coupons are fully transferrable.
21. Upon distributions of the Settlement Fund and, if applicable, Coupons to Authorized Claimants, all taxes due, if any, on any amounts distributed shall be the responsibility of the Authorized Claimants. Following the Effective Date, nothing herein precludes the Settlement Trustees, upon approval by the Court, proceeds from establishing a reserve from the Settlement Fund to pay any taxes that will be owed for the period prior to distribution of the Settlement Fund, but will be otherwise bound by all the terms of this Stipulation and the Settlement, including the terms of the Order and Final Judgment to be entered in the Action and the releases provided for
D. For purposes of determining the extent, if any, to which a Class member shall be entitled to be treated as an “Authorized Claimant” the following conditions shall apply:
(i) Each Class Member shall be required to submit a Proof of Claim (see attached Exhibit D), signed under penalty of perjury and supported by such documentation as described therein, including proof of the Claimant’s loss, or such other documents or proof as Lead Counsel, in its discretion, may deem acceptable and subject to approval of the Court;
(ii) All Proofs of Claim must be submitted by the date specified in the Notice unless such period is extended by Order of the Court. Provided that it is received before the motion for the Class Distribution Order is filed, a Proof of Claim shall be deemed to have been submitted when posted, if received with a postmark indicated on the envelope and if mailed first-class postage prepaid and addressed in accordance with the instructions thereon. In all other cases, the Proof of Claim shall be deemed to have been submitted when actually received by the Claims Administrator;
(iii) Each Proof of Claim shall be submitted to and reviewed by the Claims Administrator, under the supervision of Lead Counsel, who shall determine in accordance with this Stipulation the extent, if any, to which each claim shall be allowed, subject to review by the Court pursuant to subparagraph (v) below;
(iv) Proofs of Claim that do not meet the submission requirements may be rejected. Prior to rejection of a Proof of Claim, the Claims Administrator shall communicate with the Claimant in order to afford the Claimant the opportunity to remedy curable deficiencies in the Proof of Claim submitted. The Claims Administrator, under supervision of Lead Counsel, shall notify, in a timely fashion and in writing, all Claimants whose Proofs of Claim they propose to reject in whole or in part, setting forth the reasons therefore, and shall indicate in such notice that the Claimant whose claim is to be rejected has the right to review by the Court if the Claimant so desires and complies with the requirements of subparagraph (v) below;
(v) If any Claimant whose claim has been rejected in whole or in part desires to contest such rejection, the Claimant must, within twenty (20) days after the date of mailing of the notice required in subparagraph (iv) above, serve upon the Claims Administrator a notice and statement of the reasons indicating the Claimant’s grounds for contesting the rejection along with any supporting documentation, and requesting review thereof by the Court. If a dispute concerning the claim cannot otherwise be resolved, Lead Counsel shall thereafter present the request for review to the Court;
(vi) The administrative determinations of the Claims Administrator accepting and rejecting claims shall be presented to the Court for approval by the Court in the Class Distribution Order.
E. Each Claimant shall be deemed to have submitted to the jurisdiction of the Court with respect to the Claimant’s claim, and the claim will be subject to investigation and discovery under the Federal Rules of Civil Procedure, provided that such investigation and discovery shall be limited to the Claimant’s status as a Class Member and the validity and amount of the Claimant’s Claim. No discovery shall be allowed on the merits of the Action or the Settlement in connection with processing Proofs of Claim.
F. Payment pursuant to this Stipulation shall be deemed final and conclusive against all Class Members. All Class members whose claims are not yet dueapproved by the Claims Administrator or the Court shall be barred from participating in distributions from the Settlement Fund, but shall otherwise be bound by all of the terms of this Stipulation and Settlement, including the terms of the Order and Final Judgment to be entered in the Action and the releases provided for herein, and for expenses related will be barred from bringing any action against the Released Homestore Parties with respect to payment of such taxes or filing of such tax returnsthe Settled Claims.
22. [INTENTIONALLY OMITTED]G. All proceedings with respect to the administration, processing and determination of claims described in this Stipulation and the determination of all controversies relating thereto, including disputed questions of law and fact with respect to the validity of claims, shall be subject to the jurisdiction of the Court.
H. Any Member of the Class wishing to be excluded from the Class shall mail a written request for exclusion, in the manner set forth in the Order for Notice and Hearing attached hereto as Exhibit C.
I. The net proceeds of the Settlement Fund shall be distributed to Authorized Claimants by the Claims Administrator only after the Effective Date and after: (i) all Claims have been processed, and all Claimants whose Claims have been rejected or disallowed, in whole or in part, have been notified and provided the opportunity to be heard concerning such rejection or disallowance; (ii) all objections with respect to rejected or disallowed claims have been resolved by the Court, and all appeals therefrom have been resolved o the time therefore has expired; (iii) all matters with respect to attorneys’ fees, costs, and disbursements have been resolved by the Court, all appeals therefrom have been resolved or the time therefore has expired; and (iv) all costs of administration and Taxes have been paid.
Appears in 1 contract
Samples: Settlement Agreement
