Examples of Committee Litigation in a sentence
Court-appointed Examiner signed the BDO Settlement Agreement2 as chair of the Committee, and as Examiner solely to evidence his support and approval of the settlement and to confirm his obligations to post the Notice on his website, but is not otherwise individually a party to the BDO Settlement, the Committee Litigation, or the Investor Litigation.
The Settlement, this Agreement, and evidence thereof shall not be used, directly or indirectly, in any way, in the Investor Litigation, the Committee Litigation, the SEC Action, or in any other proceeding, other than to enforce the terms of the Settlement and this Agreement.
If the Settlement is approved by the Court, the Court will also enter the Bar Order in the SEC Action and the Judgment and Bar Order in the Committee Litigation.
In the Motion, the Receiver and the Committee seek the Court’s approval of the terms of the BDO Settlement, including entry of a bar order in the SEC Action (the “Bar Order”) and a final judgment and bar order in the Committee Litigation (the “Judgment and Bar Order”).
Lengthy, multiparty negotiations followed the retention of Xxxxxxx Xxxxx, LLP as lead counsel for the Committee in the Committee Litigation.
The Parties agree not to assert in any Forum that the other Party violated Rule 11 of the Federal Rules of Civil Procedure, or litigated, negotiated, or otherwise engaged in conduct in bad faith or without a reasonable basis in connection with the Investor Litigation, the Committee Litigation, the Settlement or this Agreement.
Civil Action No. 3:11-CV-01115-N (the “Investor Litigation”) (collectively, the Committee and the Investor Plaintiffs are the “Plaintiffs”); and BDO USA, LLP and other BDO entities1 (the “BDO Entities”) as defendants in the Committee Litigation and the Investor Litigation.
The Settlement, this Agreement, and the negotiation thereof shall in no way constitute, be construed as, or be evidence of an admission or concession of any violation of any statute or law; of any fault, liability or wrongdoing; or of any infirmity in the claims or defenses of the Parties with regard to any of the complaints, claims, allegations or defenses asserted or that could have been asserted in the Investor Litigation, the Committee Litigation, or any other proceeding in any Forum.
The Committee Litigation and the Investor Litigation are hereby stayed except to the extent necessary to give effect to the BDO Settlement.
In the Committee Litigation, the Committee alleges, inter alia, that the BDO Entities breached professional duties; aided, abetted or participated in breaches of fiduciary duty; aided, abetted or participated in a fraudulent scheme; and aided, abetted or participated in fraudulent transfers.