SUMMARY OF SETTLEMENT. This litigation (the “Action”) is a consolidated class action in which Named Plaintiffs allege that Defendants breached fiduciary duties under ERISA owed to the participants in and beneficiaries of the Plan arising from the Plan’s investments in the Avon Stock Fund, consisting primarily of Avon common stock, during the Class Period. Copies of the Complaint and other documents filed in the Action are available at www.[dedicated settlement website].com or from Class Counsel. A Qualified Settlement Fund consisting of Six Million Two Hundred and Fifty Thousand Dollars ($6,250,000.00) in cash is being established in the Action. The Net Settlement Fund, including accrued interest, after payment of any taxes, expenses, approved attorneys’ fees and costs and a Case Contribution Award to the Named Plaintiffs, will be allocated to Settlement Class members according to a Plan of Allocation to be approved by the Court. Plaintiffs face an uncertain outcome if this Action is to continue. Defendants strongly dispute the claims asserted in the Action. If Plaintiffs’ case proceeded to trial, Plaintiffs could receive a judgment or verdict greater or less than $6.25 million, or no recovery at all. Plaintiffs will describe potential outcomes in greater detail, including scenarios under which a recovery in excess of $6.25 million might have been obtained, in their motion papers for Settlement approval; those motion papers will be posted to the Settlement Website at least two weeks before the deadline for objecting, or by no later than . Named Plaintiffs and Defendants disagree on liability, and dispute the amount that would be recoverable even if Plaintiffs were to prevail at trial. Defendants have denied and continue to deny all claims and contentions by Named Plaintiffs. Defendants deny that they are liable to the Settlement Class, and that the Settlement Class or the Plan has suffered any losses or damages for which Defendants could be held legally responsible. Nevertheless, Defendants have considered the uncertainty and risks inherent in any litigation, particularly in a complex case such as this, and have concluded that it is desirable that the Action be fully and finally settled on the terms and conditions set forth in the Settlement Stipulation.
SUMMARY OF SETTLEMENT. A Settlement Fund has been established consisting of a deposit of $10,000,000 (ten million dollars) in cash paid by or on behalf of the Defendants, plus interest earned thereon. The Net Proceeds, which will consist of the Settlement Fund less certain amounts described in the Settlement Agreement, including expenses associated with Class Notice, Court-approved attorneys’ fees and expenses and Case Contribution Awards, taxes and other costs related to the administration of the Settlement Fund and implementation of the Plan of Allocation, will be allocated among the Settlement Class in accordance with the Plan of Allocation to be approved by the Court. (See Question 7 below for details of the Plan of Allocation). The Settlement Class consists of the following persons: (a) all Persons, who have been participants in The Bear Xxxxxxx Companies Inc. Employee Stock Ownership Plan, or the predecessors or successors thereto, at any time between August 1, 2007 and March 20, 2012 and whose accounts included investments in Bear Xxxxxxx stock, and
SUMMARY OF SETTLEMENT. A Settlement Fund will be established consisting of $750,000 in cash paid by Defendants’ insurer. The Net Settlement Amount, which will consist of the Settlement Fund minus certain amounts described in the Settlement Agreement, including District Court-approved attorneys’ fees and expenses and Service Awards, will be allocated among the Settlement Class in accordance with the Plan of Allocation to be approved by the District Court. (See Section 7 below for details about the Plan of Allocation). The Settlement Class consists of all persons who were participants in or beneficiaries of the Plans at any time between January 1, 2008 and September 11, 2009, both dates inclusive, and whose individual accounts in either or both Plans included investment in Company stock; provided, however, that Defendants and their heirs, Successors-in-Interest, or assigns, to the extent they acquire an interest held by Defendants, are excluded from the Settlement Class. As with any lawsuit, the Settling Parties would face an uncertain outcome if the Action were not settled. Continued litigation of the Action could result in a judgment greater or less than the recovery under the Settlement Agreement, or in no recovery at all. This litigation has been hotly contested. Named Plaintiffs and the Settling Defendants have disagreed about whether the Settling Defendants did anything wrong, and they do not agree on the amount that would be recoverable even if Plaintiffs were to win at trial. The Settling Defendants, among other things: (1) have denied, and continue to deny, the material allegations of the lawsuit; (2) have denied, and continue to deny, any wrongdoing or liability whatsoever; (3) believe that they acted at all times reasonably, prudently and lawfully with respect to the Plans, its participants and beneficiaries, and the Settlement Class and believe that they would prevail if trial were held on the claims; (4) would assert certain other defenses if the settlement is not consummated; and (5) are entering into the settlement solely to avoid the continued cost and disruption of litigation. For their part, the Settling Plaintiffs believe that serious breaches of fiduciary duty occurred, and are confident that they would ultimately prevail at trial and/or on appeal; however, given the dwindling insurance coverage they believe that any such victory might well be illusory as they would be unable to collect on a judgment in their favor. Plaintiffs’ Class Counsel will ask the Distri...
SUMMARY OF SETTLEMENT. Article I
SUMMARY OF SETTLEMENT. As explained in more detail below, the Settlement resolves the issues set for hearing in the Hearing Order and, among other things, establishes the Base XXX that PPL Electric will utilize in the Formula Rate Template for service provided on and after the refund effective date of May 21, 2020. The Preamble describes the Settling Parties and the effect of the Settlement on Xxxxxx Xx. XX00-00.
SUMMARY OF SETTLEMENT. Every year for ten years, Defendants will contribute $1.1 million to the Plan. Defendants will make the first payment within sixty (60) days after the Order approving the Settlement becomes Final and non-appealable, or after the disposition of any such appeal or other proceeding for review. While the Plan will continue to operate as a “Church Plan” exempt from ERISA, the Settlement provides significant non-monetary equitable consideration, in that the participants in the Plan will receive certain ERISA-like protections relating to the payment of their benefits for the next eight years. Defendants have also agreed to pay a maximum of $870,000 to be used to fund Class Counsel’s requested attorneys’ fees and for expenses actually incurred and/or an Incentive Fee to the Named Plaintiff. The application for expenses and an Incentive Fee for the Named Plaintiff will not exceed $50,000. The Court has the sole discretion as to whether, and/or in what amounts up to a total of $870,000, to award attorney’s fees, expenses, and/or an Incentive Fee. As with any litigation, the Parties would face an uncertain outcome if the Action were to continue against Defendants. Continued litigation of the Action against Defendants could result in a judgment or verdict greater or less than the recovery under the Settlement Agreement, or in no recovery at all. Throughout this litigation, the Named Plaintiff and Defendants have disagreed on both liability and damages, and they do not agree on the amount that would be recoverable even if the Named Plaintiff were to prevail at trial. Defendants, among other things:
SUMMARY OF SETTLEMENT. GE, GEAM, and/or their respective insurers will contribute, or cause to be contributed, into an Escrow Account $61,000,000.00 in cash. After payment of Attorneys’ Fees and Expenses, Incentive Awards to the Plaintiffs, and Notice and Administration Costs, the amount remaining (the “Net Settlement Fund”) shall be allocated among authorized members of the Class according to a Plan of Allocation to be approved by the Court. The Plan of Allocation is described at , below.
SUMMARY OF SETTLEMENT. NutriBullet has agreed to provide: (1) a ten dollar ($10.00) voucher to Settlement Class Members who submit a valid and timely Claim Form; and (2) provide an automatic six (6) month Extended Warranty to all Settlement Class Members. NutriBullet has also agreed to modify its warranty materials, pay a service award to the Class Representative up to $3,000, pay a combined award of attorney’s fees and costs to Class Counsel up to $195,000, and pay Settlement notice and administration costs estimated to be $62,185, subject to Court approval. For complete details of the Settlement, please visit www.[TBD Settlement Website Address].com or call 1-XXX-XXX-XXXX. How do I make a Settlement claim? To make a claim, you must submit a timely and completed Claim Form available at www.[TBD URL].com. Claim Forms submitted online must be submitted no later than 11:59 pm, Pacific Standard Time on [DATE]. Claim Forms submitted by U.S. mail must be postmarked no later than [DATE]. SUBMIT A CLAIM FORM Submit a claim to the Settlement Administrator using a Claim Form to receive a $10.00 voucher by the deadline of [DEADLINE]. Claim Forms can be obtained or filled-out online at [URL]. Claim Forms may also be mailed to: [ADDRESS]. EXCLUDE YOURSELF You may exclude yourself from the Settlement by the deadline of [DEADLINE], if you do not want to be bound by the Settlement. If you exclude yourself, you cannot receive a $10.00 voucher from this Settlement or a free Extended Warranty, but your right to bring a lawsuit against NutriBullet for the claims alleged in the lawsuit will not be affected by the Settlement. If you do not exclude yourself, and the Settlement is approved, you will waive your right to sue NutriBullet for the claims asserted in the lawsuit. Please refer to the full Notice of Proposed Class Action Settlement located at [URL] for complete instructions on how to exclude yourself from the Settlement. OBJECT TO THE SETTLEMENT Remain a Settlement Class Member but object to the Settlement by the deadline of [DEADLINE], if you do not like some aspect of the Settlement. Instructions and requirements for objecting are available at www.[TBD URL].com. DO NOTHING If you do nothing, you will remain part of the Settlement Class and will release your Released Claims against the Released Persons and receive an Extended Warranty— but you will not receive a voucher. More details are available at www.[TBD URL].com.
SUMMARY OF SETTLEMENT. On November 19, 2004, the Class Representatives filed this lawsuit, on behalf of themselves and a class of current and former female sales force employees of Novartis Pharmaceuticals Corporation (“Novartis” or “NPC”), claiming that Novartis discriminated against women in three main respects: (1) pay; (2) promotion to management; and (3) on the basis of pregnancy. The Class Representatives litigated this gender discrimination case against Novartis for nearly six years until the parties reached a final settlement agreement in July 2010.
SUMMARY OF SETTLEMENT. The Settlement provides for changes in the rates and in other rate-related provisions applicable to Maritimes’ various services. The Settlement is an integrated and comprehensive settlement of the proceeding in the above-captioned docket. The Settlement results in recourse rates that are significantly below the as-filed recourse rates in this proceeding. If approved, the Settlement will resolve the issues set for hearing at a much earlier date than if the Participants fully litigated this case, and will result in much earlier payment of refunds. Moreover, the Settlement, if approved, will benefit all Participants by saving valuable time and resources through the discontinuance of the litigation process and will remove the uncertainty involved in fully litigating this case. The following is a brief description of the terms of the Settlement.
Section 2.1 (A) describes the “Settlement Effective Date” of the Settlement, which shall be the first (1st) day of the first (1st) calendar month following the date on which a 4 Maritimes & Northeast Pipeline, L.L.C., 171 FERC ¶ 61,261 (2020). 5 The Participants met for settlement conferences on July 29, October 14, October 29, November 2, November 9, November 13, November 23, November 30, and December 3, 2020. Commission order approving the Settlement becomes an “Acceptable Order”, as such term is defined in Sections 2.1(B).
Section 2.2 provides that all Settlement discussions and any responses or information covered by the settlement privilege and provided and exchanged to facilitate the Settlement negotiations shall be treated as privileged and confidential.
Section 3.1 provides that the rates established pursuant to the Settlement will be set out in Schedule 2-A, and if a certain service agreement is not executed prior to the Settlement Effective Date, the rates established pursuant to the Settlement will be as set forth on Schedule 2-B. Section 3.1 further provides that Schedule 2-C contains the pro forma Settlement Tariff Records containing the agreed upon tariff record changes required to implement the Settlement.
Section 3.2 describes that Maritimes will issue a Refund Invoice Credit to eligible customers, and that refund amounts shall include interest at the FERC interest rate, provided, in a long-term capacity release transaction where the Reservation Charge is a contract by and between the releasing shipper and the replacement shipper, and not the pipeline, interest shall not be included.
Section 3.3 requires...
