Felipe Garcia v. Hetong Guo et al

Filing 76

ORDER AWARDING LEAD PLAINTIFFS COUNSEL ATTORNEYS FEES AND REIMBURSING EXPENSES by Judge Michael W. Fitzgerald that Class Counsel is awarded $250,000 as attorneys fees in this Action, together with a proportionate share of the interest earned on the fund, at the same rate as earned by the balance of the fund, from the date of the establishment of the fund to the date of payment. The expenses of Class Counsel shall be reimbursed out of the Settlement Fund in the amount of $36,729.65. Lead Plaintiffs shall be awarded a total of $9,000 ($3,000 each) as an incentive fee award and reimbursement for his lost time in connection with his prosecution of this action. (SEE ATTACHMENT FOR FURTHER DETAILS). (jp)

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UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA

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FELIPE GARCIA, Individually and on
behalf of all others similarly situated,

Case No: 2:15-CV-01862-MWF-MRW
CLASS ACTION

Plaintiffs,
The Honorable Michael W. Fitzgerald
v.
HETONG GUO, JING YANG,
JIANGYU LUO, and LENTUO
INTERNATIONAL INC.,
Defendants.

ORDER AWARDING LEAD
PLAINTIFFS’ COUNSEL
ATTORNEYS’ FEES AND
REIMBURSING EXPENSES

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WHEREAS, the Court has granted final approval to the Settlement of the

2 above-referenced class action;
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WHEREAS, Lead Plaintiffs’ Counsel, The Rosen Law Firm, P.A., appointed
4 by the Court as Class Counsel for the purposes of the Settlement, have petitioned the
5 Court for an award of attorneys’ fees in compensation for the services provided to
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Lead Plaintiffs and the Class, reimbursement of expenses incurred in connection
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with the prosecution of this action, and an award to the Lead Plaintiffs, to be paid
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out of the Settlement Fund established pursuant to the Settlement; and
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WHEREAS, the Court has reviewed the fee application and the supporting
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materials filed therewith, and has heard the presentation made by Class Counsel
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during the final approval hearing, and due consideration having been had thereon,
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Now, therefore, IT IS HEREBY ORDERED as follows:
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1.
Class Counsel is awarded $250,000 as attorneys’ fees in this
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15 Action, together with a proportionate share of the interest earned on the fund, at the
16 same rate as earned by the balance of the fund, from the date of the establishment of
17 the fund to the date of payment.
2.
The expenses of Class Counsel shall be reimbursed out of the
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19 Settlement Fund in the amount of $36,729.65.
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3.

Except as otherwise provided herein, the attorneys’ fees shall be

21 paid and reimbursement of expenses shall be made in the manner and procedure
22 provided for in the Stipulation and Agreement of Settlement dated September 2,
23 2016.
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4.

Lead Plaintiffs shall be awarded a total of $9,000 ($3,000 each)

25 as an incentive fee award and reimbursement for his lost time in connection with his
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prosecution of this action.
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5.

In making this award of attorneys' fees and reimbursement of

2 expenses to be paid from the Settlement Fund, the Court has considered and found
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(a)

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to be earned thereon, and Class members who file timely and valid claims will

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The Settlement has created a fund of $1.0 million in cash, plus interest

benefit from the Settlement created by Lead Plaintiffs’ Counsel;
(b)

The Notice made available to putative Class members indicated that at

the March 6, 2017 final approval hearing, Lead Plaintiffs’ counsel intended to
seek a fee of up to 25% of the Settlement Fund in attorneys’ fees,
reimbursement of their litigation expenses in an amount not to exceed
$50,000, and an award to Lead Plaintiffs totaling $9,000;
(c)

The Summary Notice was published on GlobeNewswire and Investor's

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Business Daily as required by the Court;

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(d)

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Settlement;

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(e)

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and was actively prosecuted since its filing on, and in the absence of

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Settlement, the Action would have continued to involve complex factual and

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legal questions;

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(f)

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risk of either a smaller or no recovery;

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(g)

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to the prosecution of this Action, with a lodestar value of $288,862; and

Lead Plaintiffs’ Counsel have conducted this litigation and achieved the

The litigation of this Action involved complex factual and legal issues

If Lead Plaintiffs’ Counsel had not achieved the Settlement, there was a

Lead Plaintiffs’ Counsel has devoted 504.45 hours of professional time

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(h)

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the Settlement Fund are consistent with awards in similar cases.

The amount of attorneys’ fees awarded and expenses reimbursed from

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4 Dated:
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March 6, 2017.
______________________________
MICHAEL W. FITZGERALD
United States District Judge

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