WHAT ARE THE REASONS FOR SETTLEMENT. The Settlement was reached after contested motion practice directed to the sufficiency of Plaintiffs’ claims. The parties also completed certain document discovery. Nevertheless, the Court has not reached any final decisions in connection with Plaintiffs’ claims against the Settling Defendants. Instead, Plaintiffs and Settling Defendants have agreed to this Settlement, which was reached with the substantial assistance of a highly respected mediator. In reaching the Settlement, the parties have avoided the cost, delay and uncertainty of further litigation. As in any litigation, Plaintiffs and the Class would face an uncertain outcome if they did not agree to the Settlement. If Plaintiffs succeeded at trial, Xxxxxxxx Defendants would likely file appeals that would postpone final resolution of the case. Continuation of the Litigation against the Settling Defendants could result in a judgment greater than this Settlement. Conversely, continuing the case could result in no recovery at all or a recovery that is less than the amount of the Settlement. Plaintiffs and Lead Counsel believe that this Settlement is fair and reasonable to the Members of the Class. They have reached this conclusion for several reasons. Specifically, if the Settlement is approved, the Class will receive a certain and immediate monetary recovery. Additionally, Lead Counsel believes that the significant and immediate benefits of the Settlement, when weighed against the significant risk, delay and uncertainty of continued litigation, are a very favorable result for the Class. Settling Defendants are entering into this Settlement because it would be beneficial to avoid the burden, inconvenience, and expense associated with continuing the Litigation, and the uncertainty and risks inherent in any litigation. Settling Defendants have determined that it is desirable and beneficial to them that the Litigation be settled in the manner and upon the terms and conditions set forth in the Stipulation. WHO REPRESENTS THE CLASS? The following attorneys are counsel for the Class: Xxxx X. Xxxxxxx XXXXXXX XXXXXX XXXXXX & XXXX LLP 00 Xxxxx Xxxxxxx Xxxx, Xxxxx 000 Melville, NY 11747 Telephone: 0-000-000-0000 If you have any questions about the Litigation, or the Settlement, you are entitled to consult with Lead Counsel by contacting counsel at the phone number listed above. You may obtain a copy of the Stipulation by contacting the Claims Administrator at: XxxxXxxxx Securities Settlement c/o Epiq P.O. Box 69...
WHAT ARE THE REASONS FOR SETTLEMENT. The Named Plaintiffs and the Settling Defendants have agreed to the Settlement after considering, among other things, (i) the substantial benefits to be made available to the Trust Loans Settlement Class under the Agreement; (ii) the attendant risks and uncertainty of litigation, especially in complex litigation such as this; (iii) the difficulties and considerable delays inherent in such litigation; (iv) the vigorousness of the defenses asserted by the Settling Defendants; and
WHAT ARE THE REASONS FOR SETTLEMENT. 9 The Court has not reached any final decisions in connection with the Plaintiffs’ claims against the Defendants. Instead, the Plaintiffs and the Defendants have agreed to this Settlement. In reaching 10 the Settlement, they have avoided the cost, delay and uncertainty of further litigation.
