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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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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IN RE VERIFONE HOLDINGS, INC.
SECURITIES LITIGATION.
_____________________________________
This Document Relates To:

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For the Northern District of California

United States District Court

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Master File No. C-07-6140 EMC
ORDER AWARDING ATTORNEYS’
FEES AND EXPENSES

ALL ACTIONS.
___________________________________/

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This matter having come before the Court, on the application of counsel for the Lead

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Plaintiff for an award of attorneys’ fees and expenses incurred in the captioned action, the Court,

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having considered all papers filed and proceedings conducted herein, having found the settlement of

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this action to be fair, reasonable, and adequate and otherwise being fully informed in the premises

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and good cause appearing therefore and for the reasons stated on the record;

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IT IS HEREBY ORDERED, ADJUDGED AND DECREED that:

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1.

All of the capitalized terms used herein shall have the same meanings as set forth in

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the Stipulation of Settlement dated as of August 9, 2013 (the “Stipulation”), and filed

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with the Court.

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2.

This Court has jurisdiction over the subject matter of this application and all matters

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relating thereto, including all Members of the Class who have not timely and validly

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requested exclusion.

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3.

The Court hereby awards Lead Counsel attorneys’ fees of 20% of the Settlement

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Fund (net of awarded expenses), plus expenses in the amount of $278,689.44 together

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with the interest earned thereon for the same time period and at the same rate as that

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earned on the Settlement Fund until paid. The Court finds that the amount of fees

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awarded is appropriate and that the amount of fees awarded is fair and reasonable

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under the “percentage-of-recovery” method given the substantial risks of non-

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recovery, the time and effort involved, and the result obtained for the Class, see

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Vizcaino v. Microsoft Corp., 290 F.3d 1043, 1047 (9th Cir. 2002), and the cross-

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check against lodestar method. Id.

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4.

The fees shall be allocated among counsel for the Lead Plaintiff by Lead Counsel in a

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manner that reflects each such counsel’s contribution to the institution, prosecution,

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and resolution of the captioned action.
5.

The awarded attorneys’ fees and expenses and interest earned thereon shall

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For the Northern District of California

United States District Court

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immediately be paid to Lead Counsel subject to the terms, conditions, and obligations

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of the Stipulation, and in particular ¶ 6.2 thereof which terms, conditions, and

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obligations are incorporated herein.

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IT IS SO ORDERED.

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Dated: February 25, 2014

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_________________________
EDWARD M. CHEN
United States District Judge

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