Aronson, et al v. McKesson HBOC, Inc., et al

Filing 1800

ORDER 1795 Awarding Attorneys' Fees and Expenses. Signed by Judge Ronald M. Whyte on 2/8/13. (jg, COURT STAFF) (Filed on 2/8/2013)

1
2
3
4
5
6
7
8
UNITED STATES DISTRICT COURT

9

NORTHERN DISTRICT OF CALIFORNIA

10

SAN JOSE DIVISION
11
12

In re McKESSON HBOC, INC.
SECURITIES LITIGATION

CLASS ACTION

13
14
15

Master File No. 99-CV-20743 RMW (PVT)
And Related Cases

This Document Relates To:
ALL ACTIONS.

16
17

[] ORDER AWARDING ATTORNEYS’ FEES AND EXPENSES

18

This matter came on for hearing on February 8, 2013 (the “Settlement Hearing”) on Lead

19

Counsel’s motion for an award of attorneys’ fees and reimbursement of expenses in connection

20

with the Settlement of Contingent Payment Claim with Arthur Andersen LLP. The Court having

21

considered all matters submitted to it at the Settlement Hearing and otherwise; and it appearing

22

that the Notice of the Settlement Hearing substantially in the form approved by the Court was

23

published on the website maintained for the case, as well as Lead Counsel’s firm websites, and

24

[] ORDER AWARDING
ATTORNEYS’ FEES AND EXPENSES
Master File No: 99-CV-20743 RMW (PVT)

25

1

the Summary Notice of the Settlement Hearing substantially in the form approved by the Court

2

was transmitted over the PR Newswire pursuant to the specifications of the Court and was mailed

3

to all McKesson Class Members who had submitted valid Claim Forms in the action and who

4

had cashed their most recent distribution checks; and the Court having considered and

5

determined the fairness and reasonableness of the award of attorneys’ fees and expenses

6

requested.

7

NOW, THEREFORE, IT IS HEREBY ORDERED THAT:

8

1.

This Order incorporates by reference the definitions in the Agreement Between

9

Lead Plaintiff and Arthur Andersen LLP Concerning Contingent Payment Claim, dated

10

November 6, 2012 (the “Agreement”) and the Stipulation and Agreement of Settlement between

11

Lead Plaintiff and Andersen dated December 19, 2006 (the “McKesson Stipulation of

12

Settlement”) and all terms not otherwise defined herein shall have the same meanings as set forth

13

in the Agreement or the McKesson Stipulation of Settlement.

14

2.

The Court has jurisdiction to enter this Order and over the subject matter of the

15

Litigation and all parties to the Litigation, including all members of the McKesson Class (the

16

“Class”).

17

3.

Notice of Lead Counsel’s application for attorneys’ fees and reimbursement of

18

expenses was posted on www.mckessonhbocsettlement.com and Lead Counsel’s websites,

19

www.blbglaw.com and www.barrack.com; transmitted over the PR Newswire; and mailed to all

20

McKesson Class Members who had submitted valid Claim Forms in the action and who had

21

cashed their most recent prior distribution and, thus, are currently eligible to receive additional

22

distributions. The form and method of notifying the Class of the application for attorneys’ fees

23

and expenses satisfied the requirements of Rule 23(h) of the Federal Rules of Civil Procedure,

24

[] ORDER AWARDING
ATTORNEYS’ FEES AND EXPENSES
Master File No: 99-CV-20743 RMW (PVT)

25

-2-

1

due process, and all other applicable law and rules, and constituted due and sufficient notice to

2

all persons and entities entitled thereto.

3

4.

Lead Counsel is hereby awarded attorneys’ fees in the amount of $____________,

4

which sum the Court finds to be fair and reasonable, and $_____________ in reimbursement of

5

expenses, which fees and expenses shall be paid to Lead Counsel from the McKesson Settlement

6

Amount.

7

5.

8
9
10
11

In making this award of attorneys’ fees and reimbursement of expenses to be paid

from the McKesson Settlement Amount, the Court has considered and found that:
(a)

The $9.5 million cash Settlement will provide a substantial benefit to

members of the Class;
(b)

The fee sought by Lead Counsel has been reviewed and approved as fair

12

and reasonable by the Court-appointed Lead Plaintiff, a sophisticated institutional investor that

13

was substantially involved in all aspects of the Litigation;

14

(c)

Copies of the Summary Notice were mailed to all McKesson Class

15

Members who had submitted valid Claim Forms in the action and who had cashed their most

16

recent prior distribution stating that Lead Counsel would apply for attorneys’ fees in an amount

17

of $134,930 and reimbursement of expenses in an amount not to exceed $40,000, and there are

18

no objections to the requested award of attorneys’ fees or expenses;

19
20
21
22

(d)

Lead Counsel has conducted the Litigation and achieved the Settlement

with skill, perseverance and diligent advocacy; and
(e)

The amount of attorneys’ fees awarded and expenses to be reimbursed

from the McKesson Settlement Amount are fair and reasonable.

23
24
25

[] ORDER AWARDING
ATTORNEYS’ FEES AND EXPENSES
Master File No: 99-CV-20743 RMW (PVT)

-3-

6.

1

Any appeal or any challenge affecting this Court’s approval regarding any

2

attorneys’ fees and expense application shall in no way disturb or affect the finality of the

3

Judgment.
7.

4

Exclusive jurisdiction is hereby retained over the parties and the McKesson Class

5

Members for all matters relating to this Litigation, including the administration, interpretation,

6

effectuation or enforcement of the Agreement and this Order.
8.

7

In the event that the Settlement is terminated or the Effective Date of the

8

Settlement otherwise fails to occur, this Order shall be rendered null and void to the extent

9

provided by the Agreement.
9.

10
11

There is no just reason for delay in the entry of this Order, and immediate entry

by the Clerk of the Court is expressly directed.

12
13

Dated:

______________, 2013

14

______________________________
RONALD M. WHYTE
United States District Judge

15
16
17
18
19
20
21
22
23
24
25

[] ORDER AWARDING
ATTORNEYS’ FEES AND EXPENSES
Master File No: 99-CV-20743 RMW (PVT)

-4-