Summary of Settlement Terms. What Are the Terms of the Settlement? The Settlement requires Xxxxxx Xxxxxxx to establish a Settlement Fund and for its Global Wealth Management Group (“MS-GWMG”) to implement changes to its policies and practices. The programmatic portions of the Settlement will last for five years. The Settlement Fund Following final approval of the Settlement, Xxxxxx Xxxxxxx will deposit sixteen million dollars ($16,000,000) plus interest earned from the date of preliminary approval at the rate of 5% per annum into a Settlement Fund. The Settlement Fund will be deposited into an interest bearing account. The Settlement Fund is expected to accrue approximately $400,000 in the approximately 6-9 months before the fund is distributed to the Class. A portion of the Settlement Fund will be used to reimburse costs and expenses of the litigation, pay Class Counsel’s fees as awarded by the Court, and pay for the administration of the settlement process. The remainder of the Settlement Fund will be distributed to the eligible Named Plaintiff and Class Members who submit a Claim Form to compensate them for the asserted claims. Xxxxxx Xxxxxxx is entitled to receive a credit for each Class Member who opts out of the Settlement. The credit shall be calculated on a pro rata share basis in relation to the total number of Class Members. What Does Xxxxxx Xxxxxxx Have to Do Under the Settlement? Xxxxxx Xxxxxxx has agreed to implement various revisions to its policies and practices. These revisions are intended to further enhance opportunities for employment, earnings and advancement of African American and Latino Financial Advisors and Registered Financial Advisor Trainees, and to provide a workplace that promotes fairness for all employees. The parties anticipate that Xxxxxx Xxxxxxx will spend approximately $7,500,000 on diversity efforts during the period of this Settlement Agreement, including programs for training, re- education, and other development programs for African American and Latino Financial Advisors and Registered Financial Advisor Trainees It is expected that these programs will benefit African Americans and Latinos and increase their earnings potential at Xxxxxx Xxxxxxx. These benefits are in addition to the sixteen million dollars ($16,000,000) in the Settlement Fund. Under the Settlement, Xxxxxx Xxxxxxx will make the following revisions to its policies and practices, or perform the following tasks, during the five-year term of the Settlement Agreement:
Summary of Settlement Terms. The terms of the Settlement are summarized in the proposed Long Form Notice to Class Members, which is attached as Exhibit B1 to the Settlement Agreement. Under the proposed settlement, Class members who purchased a Shutterfly General Spend Groupon that was never redeemed are entitled to a Shipping Code for free shipping on a future purchase on the Shutterfly Website and a Promotional Code worth 110% of the original Promotional Value of the Shutterfly 10 General Spend Groupon purchased. Class members who redeemed a Shutterfly General Spend Groupon are entitled to a Shipping Code for free shipping on a future purchase on the Shutterfly Website and a Promotional Code worth 20% of the original Promotional Value of the Shutterfly General Spend Groupon or at their option, a Cash Refund equal to 10% of the Promotional Value of the Groupon, plus 50% of the amount the Class Member paid Shutterfly for shipping in 15 connection with the order in which the Groupon was redeemed. Cash Refunds are available only to Class members who file claims according to the instructions in the Long Form Notice, but the Shipping Code and Promotional Codes will be distributed to Class Members automatically without the need for a claim. As part of the Settlement, Class Counsel may apply to this Court for an award of attorneys’ fees and expenses of up to $350,000, as well as up to $5,000 as an Incentive Award to Plaintiff. Such amounts are not payable until eapproved by the Court, and the Court will defer any ruling on the appropriateness of such awards until the Final Approval Hearing.
Summary of Settlement Terms. 2 Under the Settlement Agreement, Defendant is stipulating to add the following disclosures to the terms and conditions of any Shutterfly General Spend Groupons offered for sale ninety (90) days after the Effective Date (unless such fact is untrue for the particular Shutterfly General Spend Groupon being offered): (i) “By purchasing this offer you will obtain a promotional code for use at the Shutterfly website.” (ii) “When you redeem the Groupon at Shutterfly, you cannot use any other Shutterfly promotional code on the same order to obtain additional discounts. Instead, you must pay the undiscounted price.” And (iii) “When you redeem the Groupon at Shutterfly, you [also] cannot use any Shutterfly free shipping code on the same order. Instead, you must pay for shipping.” 11 The terms of the Settlement are summarized in the proposed Long Form Notice to Class Members, which is attached as Exhibit B1 to the Settlement Agreement. Under the proposed settlement, Class members who purchased a Shutterfly General Spend Groupon that was never redeemed are entitled to a Shipping Code for free shipping on a future purchase on the Shutterfly Website and a Promotional Code worth 110% of the original Promotional Value of the Shutterfly 16 General Spend Groupon purchased. Class members who redeemed a Shutterfly General Spend Groupon are entitled to a Shipping Code for free shipping on a future purchase on the Shutterfly Website and a Promotional Code worth 20% of the original Promotional Value of the Shutterfly General Spend Groupon or at their option, a Cash Refund equal to 10% of the Promotional Value of the Groupon, plus 50% of the amount the Class Member paid Shutterfly for shipping in 21 connection with the order in which the Groupon was redeemed. Cash Refunds are available only to Class members who file claims according to the instructions in the Long Form Notice, but the Shipping Code and Promotional Codes will be distributed to Class Members automatically without the need for a claim.
Summary of Settlement Terms. 26 The terms of the Settlement are summarized in the proposed Long-Form Notice to Settlement Class Members, which is attached as Exhibit B-1 to the Settlement Agreement. Defendants have agreed to create a common fund of $19.75 million, which will be used to pay Cash Payments to Settlement Class Members as follows: (a) Authorized Claimants who purchased Tranche 1 Plans shall receive 75% of the Assistance Fees AGA collected from those Authorized Claimants who purchased those Tranche 1 Plans, as reflected in AGA’s records provided to the Settlement Administrator, subject to potential adjustments; and (b) Authorized Claimants who purchased Tranche 2 Plans shall receive 40% of the Assistance Fees AGA collected from those Authorized Claimants who purchased those Tranche 2 Plans, as reflected in XXX’s records provided to the Settlement Administrator, subject to potential adjustments. Authorized Claimants shall not receive a Cash Payment for any Qualifying Travel and/or Event Protection Plan for 10 which either (a) the Authorized Claimant already received a complete refund or (b) AGA opened 11 and documented an assistance case. If the total amount of payments for all Authorized Claimants calculated pursuant to the foregoing percentages exceeds the Net Settlement Fund, then the amount to be paid to each Authorized Claimant for each Valid Claim shall be reduced pro rata. On the other hand, if the Net Settlement Fund exceeds the total amount of payments for all Authorized Claimants calculated pursuant to the foregoing percentages, then the amount to be paid to each Authorized Claimant for each Valid Claim shall be increased pro rata, up to the Maximum Potential Payment as follows: (a) Authorized Claimants who purchased Tranche 1 Plans may receive up to, but not more than, 150% of the Assistance Fees AGA collected from those Authorized Claimants who purchased those Tranche 1 Plans, as reflected in XXX’s records provided to the Settlement Administrator; and (b) Authorized Claimants who purchased Tranche 2 21 Plans may receive up to, but not more than, 80% of the Assistance Fees AGA collected from those Authorized Claimants who purchased those Tranche 2 Plans, as reflected in XXX’s records provided to the Settlement Administrator. As part of the Settlement, Class Counsel seeks an award of $4,937,500 in attorneys’ fees 25 and an award of costs in the amount of $188,870.47 (to date) plus costs through final approval (up 26 to a maximum total of $205,000), as well as $5,00...
Summary of Settlement Terms. 10. The Class/Collective shall be granted a gross settlement amount of $4,111,613.94 (the “Settlement Fund”). Each Class/Collective Member will received his or her portion of the Guaranteed Funds, and his or her portion of the Claimable Funds, if applicable, as discussed below. The Class Representative shall request $10,000 for his service in this matter in his capacity as such (the “Service Payment”). Class Counsel will request attorney fees in the amount of one-quarter (1/4) of the gross Settlement Fund. Any un-awarded attorney fees or Service Payment will be redistributed to the Class. $50,000 of the Settlement Fund has been paid to the Class Administrator to administer this Settlement. The Settlement shall not become effective if the Court does not approve it.
Summary of Settlement Terms. What Are the Terms of the Settlement? The Settlement requires Walmart to establish a $14 million Settlement Fund. The Settlement Fund Walmart will pay $14 million dollars ($14,000,000) into a Settlement Fund. Most of the Settlement Fund will pay Class Members. A portion of the Settlement Fund, not to exceed $200,000, will be used to pay the costs of administering the Settlement. A portion of the Settlement Fund will also be used to reimburse Class Counsel for the costs and expenses of the litigation as well as pay attorneys’ fees. This amount will not exceed one-third of the Settlement Fund plus costs. Class Counsel will submit a request for payment of their fees and costs to the Court by . The remainder of the Settlement Fund will be distributed to the Named Plaintiffs and Class Members to compensate them for their claims. In order to be eligible to receive a share from the Settlement Fund, class members must submit a claim form, a copy of which accompanies this Notice, as described below.
Summary of Settlement Terms. 10 Plaintiffs and Defendant are collectively referred to herein as “the Parties.” Under the terms 11 of the settlement, Defendant will pay the Gross Settlement Amount of Two Hundred and Eighty 12 Thousand Dollars and No Cents ($280,000.00) in exchange for the full and final settlement and 13 release of any and all Released Claims, as set forth herein, that were made or that could have been 14 made based on the facts and claims alleged in the operative Complaint in the Consolidated Actions 15 and for the full personal release entered into by Plaintiffs individually for any and all known and 16 unknown claims. This is a non-reversionary settlement. The settlement will be administered by 17 Phoenix Class Action Administration Solutions. Defendant conditionally agrees to stipulate, solely 18 for the limited purpose of consummating the terms of the settlement contained in this Agreement, 19 to have the Court certify a class of individuals employed by Xxxxxx in California during the Class 20 Period, as defined below. 21 It is agreed that Plaintiffs and Class Counsel will seek from the Gross Settlement Amount:
