Eichenholtz v. Verifone Holdings, Inc. et al

Filing 368

ORDER Awarding Attorneys' Fees and Expenses. Signed by Judge Edward M. Chen on 2/25/2014. (emcsec, COURT STAFF) (Filed on 2/25/2014)

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1 2 3 4 5 UNITED STATES DISTRICT COURT 6 NORTHERN DISTRICT OF CALIFORNIA 7 8 9 IN RE VERIFONE HOLDINGS, INC. SECURITIES LITIGATION. _____________________________________ This Document Relates To: 11 For the Northern District of California United States District Court 10 Master File No. C-07-6140 EMC ORDER AWARDING ATTORNEYS’ FEES AND EXPENSES ALL ACTIONS. ___________________________________/ 12 13 14 This matter having come before the Court, on the application of counsel for the Lead 15 Plaintiff for an award of attorneys’ fees and expenses incurred in the captioned action, the Court, 16 having considered all papers filed and proceedings conducted herein, having found the settlement of 17 this action to be fair, reasonable, and adequate and otherwise being fully informed in the premises 18 and good cause appearing therefore and for the reasons stated on the record; 19 IT IS HEREBY ORDERED, ADJUDGED AND DECREED that: 20 1. All of the capitalized terms used herein shall have the same meanings as set forth in 21 the Stipulation of Settlement dated as of August 9, 2013 (the “Stipulation”), and filed 22 with the Court. 23 2. This Court has jurisdiction over the subject matter of this application and all matters 24 relating thereto, including all Members of the Class who have not timely and validly 25 requested exclusion. 26 3. The Court hereby awards Lead Counsel attorneys’ fees of 20% of the Settlement 27 Fund (net of awarded expenses), plus expenses in the amount of $278,689.44 together 28 with the interest earned thereon for the same time period and at the same rate as that 1 earned on the Settlement Fund until paid. The Court finds that the amount of fees 2 awarded is appropriate and that the amount of fees awarded is fair and reasonable 3 under the “percentage-of-recovery” method given the substantial risks of non- 4 recovery, the time and effort involved, and the result obtained for the Class, see 5 Vizcaino v. Microsoft Corp., 290 F.3d 1043, 1047 (9th Cir. 2002), and the cross- 6 check against lodestar method. Id. 7 4. The fees shall be allocated among counsel for the Lead Plaintiff by Lead Counsel in a 8 manner that reflects each such counsel’s contribution to the institution, prosecution, 9 and resolution of the captioned action. 5. The awarded attorneys’ fees and expenses and interest earned thereon shall 11 For the Northern District of California United States District Court 10 immediately be paid to Lead Counsel subject to the terms, conditions, and obligations 12 of the Stipulation, and in particular ¶ 6.2 thereof which terms, conditions, and 13 obligations are incorporated herein. 14 15 IT IS SO ORDERED. 16 17 Dated: February 25, 2014 18 _________________________ EDWARD M. CHEN United States District Judge 19 20 21 22 23 24 25 26 27 28 2

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