Labrador v. Seattle Mortgage Company

Filing 136

ORDER re 135 Brief, filed by Mary B. Labrador (sclc1, COURT STAFF) (Filed on 8/31/2011)

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IN THE UNITED STATES DISTRICT COURT

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FOR THE NORTHERN DISTRICT OF CALIFORNIA

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For the Northern District of California

United States District Court

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MARY LABRADOR, individually and on ) Case No. 08-2270 SC
behalf of all others similarly
)
situated,
) ORDER APPROVING
) SUPPLEMENTAL DISTRIBUTION
Plaintiff,
) AND ALLOCATION
) OF CY PRES FUNDS
v.
)
)
SEATTLE MORTGAGE COMPANY,
)
)
Defendant.
)
)

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On March 4, 2011, the Court finally approved the settlement of

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this certified class action.

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pres distribution absent court approval and instructed Plaintiff

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Mary Labrador ("Plaintiff") to file a motion for cy pres

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distribution when the Settlement Administrator, Rust Consulting,

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determined that settlement residue was ripe for cy pres

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distribution.

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ECF No. 128.

The Court barred any cy

ECF No. 134.

Plaintiff now declares that Settlement Fund residue is ripe

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for distribution, and she proposes a supplemental distribution to

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class members who cashed the initial settlement check, with the

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residue of this supplemental distribution distributed to cy pres

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beneficiaries.

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exists $419,200 in Settlement Fund residue, and that a distribution

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of this residue to the 9,965 class members who cashed the first

ECF No. 135.

Plaintiff claims that there currently

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settlement check would yield an average supplemental distribution

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of $38.

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distribution to be $28,000.

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Rust Consulting estimates the cost of such a
Id.

Having reviewed the papers submitted, the Court GRANTS

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Id. at 2.

Plaintiff's Motion and ORDERS as follows:
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Settlement Administrator Rust Consulting shall perform a

members who cashed their initial distribution checks.

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the initial distribution, these supplemental payments shall be

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United States District Court

supplemental distribution of the residue to the 9,965 class

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For the Northern District of California

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based on the comparative size of the loan origination fee the

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class member was charged, with a minimum distribution of $15.

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•

As with

Absent approval of the Court, the costs paid to Rust

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Consulting for administering this distribution shall not

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exceed $28,000.

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•

If more than $10,000 remains in residue upon completion of

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this supplemental distribution, Plaintiff and Rust Consulting

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shall file declarations apprising the Court of the current

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state of the Settlement Fund.

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this residue shall be distributed in equal shares to the

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National Consumer Law Center and Healthcare and Elder Law

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Programs Corporation as cy pres beneficiaries.

If less than $10,000 remains,

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IT IS SO ORDERED.

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Dated: August 31, 2011
UNITED STATES DISTRICT JUDGE

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