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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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
[e-mail]
[e-mail]
[e-mail]

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Attorneys for RYDEX LITIGATION GROUP

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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SAN FRANCISCO DIVISION

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JAMES RAFTON, TRUSTEE OF THE
JAMES AND CYNTHIA RAFTON TRUST,

Action Filed: March 19, 2010

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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.

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ORDER GRANTING APPLICATION
FOR DISTRIBUTUION

No. CV 10-01171 LHK

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Lead Counsel’s Application For Distribution Order And Request For Further Payment Of

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Settlement Administration Costs was submitted to the Court on November 7, 2012. The Court

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has considered all papers filed and materials provided therein, and the Court being familiar with

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the proceedings in this matter, and good cause appearing therefor,

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NOW, IT IS HEREBY ORDERED:

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1.

This Order incorporates by reference the Stipulation And Agreement Of

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Settlement, dated as of July 28, 2011 (Dkt. 97) (“Stipulation”), and all capitalized terms used, but

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not defined herein, shall have the same meaning as in the Stipulation.

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2.

The Court finds that the Effective Date of the settlement has occurred.

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3.

The Court approves administrative determinations of the Claims Administrator,

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Garden City Group (“GCG”), relating to acceptances and rejections of claims submitted in

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connection with the settlement.

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4.

The Court adopts a $1.00 de minimis threshold for distributions to Class Members.

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5.

GCG is hereby directed to distribute the Net Settlement Fund in accordance with

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the Plan of Allocation as set forth in the Final Judgment And Order Of Dismissal (Dkt. 130),

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while being consistent with the de minimis threshold.

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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.
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The Court also grants authority to GCG to dispose of its records relating to the

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settlement one year after the distribution of the Net Settlement Fund to Authorized Claimants.

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Accordingly, the hearing set for December 5, 2012, is hereby VACATED. The Clerk

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shall close the file.

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IT IS SO ORDERED.
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Dated: November 9, 2012

_________________________________
LUCY H. KOH
United States District Judge

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ORDER GRANTING APPLICATION FOR
DISTRIBUTUION

No. CV 10-01171 LHK