Westley et al v. Oclaro, Inc. et al

Filing 205

ORDER Approving Plan of Allocation of Settlement Proceeds and Overruling Objections. Signed by Judge Edward M. Chen on 8/13/2014. (Attachments: # 1 Certificate/Proof of Service). (emcsec, COURT STAFF) (Filed on 8/13/2014)

1 ROBBINS GELLER RUDMAN
& DOWD LLP
2 SHAWN A. WILLIAMS (213113)
SUNNY S. SARKIS (258073)
3 Post Montgomery Center
One Montgomery Street, Suite 1800
4 San Francisco, CA 94104
Telephone: [phone]
5 415/288-4534 (fax)
[e-mail]
6 [e-mail]
– and –
7 JEFFREY D. LIGHT (159515)
JULIE A. KEARNS (246949)
8 655 West Broadway, Suite 1900
San Diego, CA 92101
9 Telephone: [phone]
619/231-7423 (fax)
10 [e-mail]
[e-mail]
11
Lead Counsel for Plaintiffs
12
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
13
14 CURTIS AND CHARLOTTE WESTLEY,
Individually and on Behalf of All Others
15 Similarly Situated,
16

Plaintiffs,

17

vs.

18 OCLARO, INC., et al.,
19

Defendants.

20 In re OCLARO, INC. DERIVATIVE
LITIGATION
21
22 This Document Relates To:
23

Westley v. Oclaro, Inc., et al.,
C11-02448-EMC.

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No. C11-02448-EMC
and related consolidated action
(Lead Case No. C11-3176-EMC)
(Derivative Action)
ORDER APPROVING PLAN OF
ALLOCATION OF SETTLEMENT
PROCEEDS AND OVERRULING
OBJECTIONS

Lead Case No. C11-3176-EMC
(Derivative Action)

1

THIS MATTER having come before the Court on Lead Plaintiff’s application for approval of

2 the Plan of Allocation of the net settlement proceeds in the above-captioned action; the Court having
3 considered all papers filed and proceedings had herein and otherwise being fully informed in the
4 premises;
5

IT IS HEREBY ORDERED, ADJUDGED AND DECREED that:

6

1.

For purposes of this Order, the terms used herein shall have the same meanings as set

7 forth in the Amended Stipulation of Settlement dated as of April 30, 2014 (the “Stipulation”).
8

2.

Pursuant to and in full compliance with Rule 23 of the Federal Rules of Civil

9 Procedure, this Court hereby finds and concludes that due and adequate notice was directed to all
10 Persons who are Class Members advising them of the Plan of Allocation and of their right to object
11 thereto, and a full and fair opportunity was accorded to all Persons and entities who are Class
12 Members to be heard with respect to the Plan of Allocation.
3.

13

The Court hereby finds and concludes that the formula for the calculation of the

14 claims of Authorized Claimants which is set forth in the Notice of Proposed Settlement of Class
15 Action (the “Notice”) sent to Class Members, provides a fair and reasonable basis upon which to
16 allocate the proceeds of the Net Settlement Fund established by the Stipulation among Class
17 Members, with due consideration having been given to administrative convenience and necessity.
4.

18

The Court hereby finds and concludes that the Plan of Allocation set forth in the

19 Notice is in all respects fair and reasonable and the Court hereby approves the Plan of Allocation.
20

5.

The Court has considered the objections filed by Loretta N. Blum and Fred Blum.

21 Purchasers of options are not included in the definition of the class. Correspondingly, the release
22 does not govern claims relating to options purchases. In other words, the Blums’ potential claims as
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[PROPOSED] ORDER APPROVING PLAN OF ALLOCATION OF SETTLEMENT PROCEEDS –
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1 options purchasers are not governed by this settlement. The Blums are not class members, and
2 therefore the Blums lack standing to object. The objections are therefore overruled in their entirety.
3
IT IS SO ORDERED.

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6 DATED: August 13, 2014

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11 ROBBINS GELLER RUDMAN
& DOWD LLP
12 SHAWN A. WILLIAMS
SUNNY S. SARKIS
13

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10 Submitted by:

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Judge E

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D
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IS SO O FIED
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________________________________________
DI
AS MO
EDWARD M. CHEN
UNITED STATES DISTRICTnJUDGE
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15

s/ Shawn A. Williams
SHAWN A. WILLIAMS

16 Post Montgomery Center
One Montgomery Street, Suite 1800
17 San Francisco, CA 94104
Telephone: [phone]
18 415/288-4534 (fax)
19 ROBBINS GELLER RUDMAN
& DOWD LLP
20 JEFFREY D. LIGHT
JULIE A. KEARNS
21 655 West Broadway, Suite 1900
San Diego, CA 92101
22 Telephone: [phone]
619/231-7423 (fax)
23
Lead Counsel for Plaintiffs
24
ROBERT M. CHEVERIE & ASSOCIATES
25 GREGORY S. CAMPORA
Commerce Center One
26 333 E. River Drive, Suite 101
East Hartford, CT 06108
27 Telephone: [phone]
860/290-9611 (fax)
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HOLZER HOLZER & FISTEL, LLC
2 MICHAEL I. FISTEL, JR.
200 Ashford Center North, Suite 300
3 Atlanta, GA 30338
Telephone: [phone]
4 770/392-0029 (fax)
5 DYER & BERENS LLP
ROBERT J. DYER III
6 JEFFREY A. BERENS
303 East 17th Avenue, Suite 810
7 Denver, CO 80203
Telephone: [phone]
8 303/395-0393 (fax)
9 Additional Counsel for Plaintiff
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