THE PROPOSED SETTLEMENT definition

THE PROPOSED SETTLEMENT. Southfield Corporation has agreed to pay the amount of $19,000,000 (“Settlement Amount”) pursuant to the terms of the Settlement to be deposited into a Settlement Fund. After appeals and/or the time for appeals of this Settlement have been exhausted, the Plaintiffs and Class Counsel may seek permission from the Court to receive payments from the Settlement Fund for distribution to Class members or to reimburse Class Counsel for reasonable expenditures made or to be made by Class Counsel on behalf of Class Members to pursue the Lawsuit against the Defendants other than Southfield. The Settlement does not prevent the Plaintiffs from seeking damages from other Defendants caused by Southfield’s alleged participation in the price-fixing conspiracy. This settlement was achieved after more than two years of litigation and numerous negotiating sessions between Class Counsel and the lawyers for Southfield. Because of the inherent risks of litigation Plaintiffs believe that the Settlement provides the most fair and efficient resolution of the Plaintiffs’ and Class Members’ claims against Southfield. Southfield denies any liability for the claims in the Lawsuit, and the Court has not made any determination of Southfield’s liability for the claims. Because of the ongoing nature of the claims in the Lawsuit against the other Defendants, Plaintiffs and Class Counsel plan to defer distribution of the Settlement Fund to Class Members until a later date, and do not know at this time when they will seek permission from the Court to make distributions from the Settlement Fund to Class Members. In the event that Plaintiffs and Class Counsel seek to make a distribution of the Settlement Fund or any other funds recovered in the Lawsuit to Class Members, it is anticipated that the proposed distribution of amounts from the Settlement Fund will be in direct proportion to the amount of a Class Member’s purchases of Ready-Mixed Concrete from the Defendants at any time from July 1, 2000 through May 25, 2004. In the event that Plaintiffs and Class Counsel seek to make a distribution of the Settlement Fund or any other funds recovered in the Lawsuit to Class Members, a Claim Form with information about the proposed distribution and instructions for submitting a claim will be provided to Class Members.
View Source
THE PROPOSED SETTLEMENT. The IMI Defendants have agreed to pay the amount of $29,000,000 (“Settlement Amount”) pursuant to the terms of the Settlement to be deposited into a Settlement Fund no later than April 1, 2010, or five (5) days after the Court’s entry of an Order and Final Judgment if such entry occurs after April 1, 2010. Class Counsel will seek Court permission to distribute the Settlement Fund to Class Members and to pay amounts approved by the Court for Class Counsel’s attorneys’ fees and reasonable expenses, reasonable future expenditures made or to be made by Class Counsel on behalf of Class Members to pursue the Lawsuit against the Defendants other than the IMI Defendants, notices to Class Members, and incentive payments to the class representatives. The Settlement does not prevent the Plaintiffs from seeking damages from other Defendants caused by the IMI Defendants’ alleged participation in the price-fixing conspiracy. This settlement was achieved after more than four years of litigation and numerous negotiating sessions between Class Counsel and the lawyers for the IMI Defendants. Because of the inherent risks of litigation Plaintiffs believe that the Settlement provides the most fair and efficient resolution of the Plaintiffs’ and Class Members’ claims against the IMI Defendants. The IMI Defendants deny any liability for the claims in the Lawsuit, and the Court has not made any determination of the IMI Defendants’ liability for the claims. It is anticipated that the proposed distribution of amounts from the Settlement Fund to Class Members will be in direct proportion to the amount of a Class Member’s purchases of Ready-Mixed Concrete from the Defendants at any time from July 1, 2000 through May 25, 2004. Once the Court has approved a plan of distribution of the Settlement Fund, information about the proposed distribution and instructions for submitting a claim will be provided to Class Members.
View Source

Examples of THE PROPOSED SETTLEMENT in a sentence

  • THIS IS NOT AN EXPRESSION OF ANY OPINION BY THE COURT AS TO THE MERITS OF ANY CLAIMS OR ANY DEFENSES ASSERTED BY ANY PARTY IN THE ACTION, OR THE FAIRNESS, REASONABLENESS OR ADEQUACY OF THE PROPOSED SETTLEMENT.

  • THE PROPOSED SETTLEMENT, IN CONNECTION WITH A PENDING TENDER OFFER FOR REDEMPTION OF THE UNITS, CALLS FOR THE PAYMENT OF A PREMIUM OF UP TO $1,500,000 TO THE UNITHOLDERS WHO TENDER THEIR UNITS, AND ALSO PROVIDES THAT CERTAIN ADDITIONAL INFORMATION CONCERNING THE TENDER OFFER SHALL BE DISSEMINATED BY THE DEFENDANTS TO THE UNITHOLDERS.

  • IF YOU DO NOT WISH TO OBJECT TO THE PROPOSED SETTLEMENT OR REQUEST FOR ATTORNEYS' FEES AND EXPENSES YOU NEED NOT APPEAR AT THE HEARING.

  • THE INDEMNIFYING PARTY MAY NOT ENTER INTO A FINAL SETTLEMENT OF ANY CLAIM OR MATTER WITHOUT THE PRIOR CONSENT OF THE INDEMNIFIED PARTY, WHICH CONSENT SHALL NOT BE UNREASONABLY WITHHELD OR DELAYED; PROVIDED THAT THE INDEMNIFIED PARTY’S WITHHOLDING OF OR DELAYING CONSENT SHALL NOT BE DEEMED UNREASONABLE IF THE PROPOSED SETTLEMENT ARRANGEMENT ALLOCATES LIABILITY OR FINANCIAL OBLIGATIONS DIRECTLY TO THE INDEMNIFIED PARTY.

  • PLEASE DO NOT CONTACT THE COURT, THE CLERK OF THE COURT, THE JUDGE, OR SPRINT FOR INFORMATION ABOUT THE LAWSUIT OR THE PROPOSED SETTLEMENT.

  • IF YOU DO NOT OBJECT TO THE TERMS OF THE PROPOSED SETTLEMENT OR THE AMOUNT OF ATTORNEYS' FEES AND EXPENSES DESCRIBED IN THIS NOTICE, YOU ARE NOT OBLIGATED TO TAKE ANY ACTION.

  • PLEASE DO NOT CONTACT THE COURT, THE CLERK OF THE COURT, THE JUDGE, OR CERTIFIEDSAFETY FOR INFORMATION ABOUT THE PROPOSED SETTLEMENT OR THE ACTIONS.

  • IF THE COURT APPROVES THE SETTLEMENT AND DISMISSAL OF THE DERIVATIVE ACTION, IMPINJ STOCKHOLDERS WILL BE FOREVER BARRED FROM CONTESTING THE APPROVAL OF THE PROPOSED SETTLEMENT AND FROM PURSUING RELEASED CLAIMS.3 THIS ACTION IS NOT A “CLASS ACTION.” THUS, THERE IS NO COMMON FUND UPON WHICH YOU CAN MAKE A CLAIM FOR A MONETARY PAYMENT.

  • ON THE PROPOSED SETTLEMENT If you are a Settlement Class Member, you can appear and object to or comment on the Proposed Settlement in the lawsuit on your own or through your own lawyer.

  • EXCLUDE YOURSELF FROM THE PROPOSED SETTLEMENT You can exclude yourself from (opt out of) the Proposed Settlement and not be bound by the Court’s rulings.

Related to THE PROPOSED SETTLEMENT

  • Proposed Transaction is defined in Section 6.2(a).

  • Proposed Sale has the meaning set forth in Section 2.4(a).

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • Proposed Transfer Notice means written notice from a Key Holder setting forth the terms and conditions of a Proposed Key Holder Transfer.

  • Proposed Transfer means any assignment, sale, offer to sell, pledge, mortgage, hypothecation, encumbrance, disposition of or any other like transfer or encumbering of any Transfer Stock (or any interest therein) proposed by any of the Investors.