Common use of The Settlement Clause in Contracts

The Settlement. After four years of litigation, the parties reached a settlement on April 6, 2021. Class Counsel filed this action in August 2016. Since the filing of the action, Class Counsel devoted substantial time and effort to support their underlying claims. The parties participated in mediation and engaged in extensive settlement discussions over a period of six months with the assistance of a private mediator. For those claims that were not dismissed during pretrial proceedings, they were scheduled to be tried beginning on April 12, 2021. Shortly before trial, the parties reached a tentative settlement on the claims. As part of the Settlement, a Qualified Settlement Fund of $13,000,000 will be established to resolve the Class Action. The Net Settlement Amount is $13,000,000 minus any Administrative Expenses, taxes, tax expenses, Court-approved Attorneys’ Fees and Costs, Class Representatives’ Compensation, and other approved expenses of the litigation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court.

The Settlement. After four over six years of litigation, the parties reached a settlement on April 6January 24, 20212023. Class Counsel filed this action in August 2016. Since the filing of the action, Class Counsel devoted substantial time and effort to support their the underlying claims. The parties participated in mediation and engaged in extensive settlement discussions over a period of six months with the assistance of a private mediator. For those claims that were not dismissed during pretrial proceedings, they were scheduled to be tried beginning on April 12January 24, 20212023. Shortly before trial, the parties reached a tentative settlement on the claims. As part of the Settlement, a Qualified Settlement Fund of $13,000,000 13,050,000 will be established to resolve the Class Action. The Net Settlement Amount is $13,000,000 13,050,000 minus any Administrative Expenses, taxes, tax expenses, Court-approved Attorneys’ Fees and Costs, Class Representatives’ Compensation, and other approved expenses of the litigation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court.

The Settlement. After four over six years of litigation, the parties reached a settlement on April 6January 24, 20212023. Class Counsel filed this action in August 2016. Since the filing of the action, Class Counsel devoted substantial time and effort to support their the underlying claims. The parties participated in mediation and engaged in extensive settlement discussions over a period of six months with the assistance of a private mediator. For those claims that were not dismissed during pretrial proceedings, they were scheduled to be tried beginning on April 12January 24, 20212022. Shortly before trial, the parties reached a tentative settlement on the claims. As part of the Settlement, a Qualified Settlement Fund of $13,000,000 13,050,000 will be established to resolve the Class Action. The Net Settlement Amount is $13,000,000 13,050,000 minus any Administrative Expenses, taxes, tax expenses, Court-approved Attorneys’ Fees and Costs, Class Representatives’ Compensation, and other approved expenses of the litigation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court.