Rafton v. Rydex Series Funds et al

Filing 137

Order by Hon. Lucy H. Koh granting 136 Lead Counsel's Application for Distribution.(lhklc3, COURT STAFF) (Filed on 11/9/2012)

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6 ALAN W. SPARER (No. 104921) MARC HABER (No. 192981) JAMES S. NABWANGU (No. 236601) SPARER LAW GROUP 100 Pine Street, 33rd Floor San Francisco, California 94111-5128 Telephone: 415/217-7300 Facsimile: 415/217-7307 asparer@sparerlaw.com mhaber@sparerlaw.com jnabwangu@sparerlaw.com 7 Attorneys for RYDEX LITIGATION GROUP 1 2 3 4 5 8 9 UNITED STATES DISTRICT COURT 10 NORTHERN DISTRICT OF CALIFORNIA 11 SAN FRANCISCO DIVISION 12 13 JAMES RAFTON, TRUSTEE OF THE JAMES AND CYNTHIA RAFTON TRUST, Action Filed: March 19, 2010 14 15 16 17 18 19 20 21 22 No. CV 10-01171 LHK Plaintiff, v. RYDEX SERIES FUNDS; PADCO ADVISORS INC. d/b/a RYDEX INVESTMENTS, INC.; RYDEX DISTRIBUTORS, INC.; RICHARD M. GOLDMAN; CARL G. VERBONCOEUR; JOHN O. DEMARET; NICK BONOS; MICHAEL P. BYRUM; COREY A. COLEHOUR; J. KENNETH DALTON; WERNER E. KELLER; THOMAS F. LYDON; PATRICK T. MCCARVILLE; ROGER SOMERS; and DOES 1 through 25, inclusive, ORDER GRANTING LEAD COUNSEL’S APPLICATION FOR DISTRIBUTION CLASS ACTION Date: Time: Dep’t: Judge: December 5, 2012 2:00 p.m. Courtroom 8, 4th Floor Hon. Lucy H. Koh Defendants. 23 24 25 26 27 28 ORDER GRANTING APPLICATION FOR DISTRIBUTUION No. CV 10-01171 LHK 1 Lead Counsel’s Application For Distribution Order And Request For Further Payment Of 2 Settlement Administration Costs was submitted to the Court on November 7, 2012. The Court 3 has considered all papers filed and materials provided therein, and the Court being familiar with 4 the proceedings in this matter, and good cause appearing therefor, 5 NOW, IT IS HEREBY ORDERED: 6 1. This Order incorporates by reference the Stipulation And Agreement Of 7 Settlement, dated as of July 28, 2011 (Dkt. 97) (“Stipulation”), and all capitalized terms used, but 8 not defined herein, shall have the same meaning as in the Stipulation. 9 2. The Court finds that the Effective Date of the settlement has occurred. 10 3. The Court approves administrative determinations of the Claims Administrator, 11 Garden City Group (“GCG”), relating to acceptances and rejections of claims submitted in 12 connection with the settlement. 13 4. The Court adopts a $1.00 de minimis threshold for distributions to Class Members. 14 5. GCG is hereby directed to distribute the Net Settlement Fund in accordance with 15 the Plan of Allocation as set forth in the Final Judgment And Order Of Dismissal (Dkt. 130), 16 while being consistent with the de minimis threshold. 17 18 19 6. The Court authorizes Lead Counsel to pay GCG further amounts not to exceed $117,500.24 for its work in completing the administration of the settlement. 7. The Court also grants authority to GCG to dispose of its records relating to the 20 settlement one year after the distribution of the Net Settlement Fund to Authorized Claimants. 21 Accordingly, the hearing set for December 5, 2012, is hereby VACATED. The Clerk 22 shall close the file. 23 IT IS SO ORDERED. 24 25 Dated: November 9, 2012 _________________________________ LUCY H. KOH United States District Judge 26 27 28 2 ORDER GRANTING APPLICATION FOR DISTRIBUTUION No. CV 10-01171 LHK

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