The Parties Reached a Settlement After Extensive Negotiations. Plaintiffs’ Counsel and counsel for Defendants recognize the costs and risks of prosecuting this litigation through class certification, summary judgment, trial, and appeal. Plaintiffs’ Counsel believe that it is in the interest of all members of the Settlement Class to resolve finally and completely the potential claims of the Settlement Class Members against Defendants. Plaintiffs’ Counsel believe that the terms of the Settlement Agreement are in the best interests of the Settlement Class and are fair, reasonable, and adequate. Defendants have agreed to settle this Action solely in order to avoid the expense, burdens and distractions that would be involved in continued litigation and to put to rest all further controversy with respect to the charges, claims and issues raised in this Action pursuant to the terms set forth in this Settlement Agreement. This Settlement Agreement was reached after extensive mediation before experienced mediator Xxxxx X. Xxxxxx. Counsel for the parties are experienced class action lawyers who retained Xx. Xxxxxx for his expertise in mediating many complex class and collective actions. Xx. Xxxxxx conducted four days of mediation in San Francisco, California over a period of four- and-a-half months, including numerous informal discussions with the parties over the same time period (during and between mediation sessions). Certain of the Named Plaintiffs attended each of the mediation sessions, and Plaintiffs submit that all were actively involved in shaping the monetary and programmatic relief set forth in the Settlement Agreement. At all times during this process, the parties’ respective counsel bargained vigorously and at arm’s-length on behalf of their clients. Without any admission or concession by Defendants of any liability or wrongdoing with respect to the allegations and claims made or that could have been made based on the facts alleged in this Action as set forth in the Complaint and all prior versions of the Complaint, all Released Claims (as defined below) shall be finally and fully compromised, settled, and released subject to the terms and conditions of this Settlement Agreement, which were the subject of extensive negotiation and ultimate agreement by the parties.
