Steamfitters Local 449 Pension Fund v. Sturm, Ruger & Co., Inc. et al

Filing 105

ORDER granting 96 Motion for Attorney Fees; granting 96 Motion for Settlement. See attached orders. The Court awards attorneys fees of 30% of the Settlement Fund plus expenses in the amount of $45,537.12 plus interest on both amounts. The Clerk is directed to close the case. Signed by Judge Vanessa L. Bryant on 8/20/2012. (Attachments: # 1 Supplement, # 2 Supplement, # 3 Supplement) (Fernandez, Melissa)

UNITED STATES DISTRICT COURT
DISTRICT OF CONNECTICUT

In re STURM, RUGER & COMPANY, INC.) Master File No. 3:09-cv-01293-VLB
SECURITIES LITIGATION
)
CLASS ACTION
This Document Relates To:
ALL ACTIONS.

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)[

INAL JUDGMENT AND
ORDER OF DISMISSAL WITH
) PREJUDICE

This matter came before the Court for hearing pursuant to an Order of this
Court, dated May 31, 2012, on the application of the Settling Parties for approval of
the Settlement set forth in the Stipulation of Settlement dated December 29, 2011 (the
"Stipulation"). Due and adequate notice having been given of the Settlement as
required in said Order, and the Court having considered all papers filed and
proceedings held herein and otherwise being fully informed in the premises and
good cause appearing therefore, IT IS HEREBY ORDERED, ADJUDGED, AND
DECREED that:
1.

This Order and Final Judgment incorporates by reference the definitions

in the Stipulation, and all terms used herein shall have the same meanings set forth
in the Stipulation.
2.

This Court has jurisdiction over the subject matter of the Litigation and

over all parties to the Settlement, including all members of the Class.
3.

Except as to any individual claim of those Persons (identified in Exhibit

1 attached hereto) who have validly and timely requested exclusion from the Class,
the Complaint, the Litigation, and all claims contained therein, including all of the
Released Claims, are hereby dismissed without costs and with prejudice in full and
final discharge of any and all claims belonging to Lead Plaintiff and the other
members of the Class that were or could have been asserted as against each and all
of the Released Persons. The parties are to bear their own costs, except as
otherwise provided in the Stipulation.
4.

Pursuant to Rule 23 of the Federal Rules of Civil Procedure, this Court

hereby approves the Settlement set forth in the Stipulation and finds that said
Settlement is, in all respects, fair, reasonable, and adequate to, and is in the best
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interests of, the Lead Plaintiff, the Class, and each of the Class Members. This Court
further finds the Settlement set forth in the Stipulation is the result of arm's-length
negotiations between experienced counsel representing the interests of the Lead
Plaintiff, the Class Members, and the Defendants. Accordingly, the Settlement
embodied in the Stipulation is hereby approved in all respects and shall be
consummated in accordance with its terms and provisions. The Settling Parties are
hereby directed to perform the terms of the Stipulation.
5.

Pursuant to Rule 23 of the Federal Rules of Civil Procedure, the Court

hereby certifies a Class of all persons and entities that purchased Sturm, Ruger
common stock during the period beginning April 23, 2007 through and including
October 24, 2007. Excluded from the Class are Defendants; members of the
immediate families of each of the Individual Defendants; the officers and directors of
Sturm, Ruger during the Class Period and their immediate families; any parent,
subsidiary, or affiliate of Sturm, Ruger during the Class Period; any entity in which
any Defendant has a controlling interest; any trust of which any Defendant is a
beneficiary; and the legal representatives, heirs, beneficiaries, successors, and
assigns of any such excluded party in their capacity as such. Also excluded from
the Class are any putative Class Members who timely and validly excluded
themselves from the Class in accordance with the requirements set forth in the
Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys'
Fees and Settlement Fairness Hearing.
6.

With respect to the Class, this Court finds, for the purposes of

effectuating this Settlement, that: (a) the members of the Class are so numerous that
joinder of all Class Members in the Action is impracticable; (b) there are questions of
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law and fact common to the Class which predominate over any individual questions;
(c) the claims of the Lead Plaintiff are typical of the claims of the Class; (d) the Lead
Plaintiff and Lead Plaintiffs counsel have fairly and adequately represented and
protected the interests of all of the Class Members; and (e) a class action is superior
to other available methods for the fair and efficient adjudication of the controversy,
considering: (i) the interests of the members of the Class in individually controlling
the prosecution of the separate actions; (ii) the extent and nature of any litigation
concerning the controversy already commenced by members of the Class; (iii) the
desirability or undesirability of continuing the litigation of these claims in this
particular forum; and (iv) the difficulties likely to be encountered in the management
of the Action.
7.

Upon the Effective Date, the releasing persons, regardless of whether

the Lead Plaintiff or any such Class Member ever seeks or obtains by any means,
including, without limitation, by submitting a Proof of Claim, any distribution from
the Settlement Fund, shall be deemed to have, and by operation of this Order and
Final Judgment shall have, fully, finally, and forever released, relinquished, and
discharged all Released Plaintiffs' Claims against the Released Persons and shall
have covenanted not to sue the Released Persons with respect to all such Released
Plaintiffs' Claims, and shall be deemed to have covenanted not to sue the Released
Persons with respect to all such Released Plaintiffs' Claims, and shall be
permanently barred and enjoined from instituting, commencing, or prosecuting any
such Released Plaintiffs' Claim against the Released Persons, whether or not such
Class Member executes and delivers the Proof of Claim.

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8.

Lead Plaintiff and all Class Members are hereby forever barred and

enjoined from instituting or prosecuting any other action against the Released
Persons in any court or tribunal asserting any Released Claim.
9.

Upon the Effective Date, the Defendants, and the heirs, successors, and

assigns of any of them, shall be deemed to have, and by operation of this Order and
Final Judgment shall have, fully, finally, and forever released, relinquished, and
discharged Lead Plaintiff, Class Members, Lead Counsel, and any other counsel for
any other plaintiff or plaintiffs in the Litigation, from all Released Defendants' Claims,
except claims exempted pursuant to 1112.4 of the Stipulation.
10.

The distribution of the Notice of Pendency of Class Action and

Proposed Settlement, Motion for Attorneys' Fees and Settlement Fairness Hearing
and the publication of the Summary Notice as provided for in the Preliminary
Approval Order constituted the best notice practicable under the circumstances,
including individual notice to all members of the Class who could be identified
through reasonable effort. Said notice provided the best notice practicable under
the circumstances of those proceedings and of the matters set forth therein,
including the proposed Settlement set forth in the Stipulation, to all Persons entitled
to such notice, and said notice fully satisfied the requirements of Federal Rule of
Civil Procedure 23, Section 21 D(a)(7) of the Securities Exchange Act of 1934, 15
U.S.C. §78u-4(a)(7) as amended by the Private Securities Litigation Reform Act of
1995, the requirements of due process, and any other applicable law.
11.

Any plan of allocation submitted by Lead Plaintiffs counsel or any order

entered regarding the attorneys' fee and expense application shall in no way disturb

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or affect this Order and Final Judgment and shall be considered separate from this
Order and Final Judgment.
12.

Neither the Stipulation nor the Settlement contained therein, nor any act

performed or document executed pursuant to or in furtherance of the Stipulation or
the Settlement: (a) is or may be deemed to be or may be used as an admission of, or
evidence of, the validity of any Released Claim, or of any wrongdoing or liability of
the Defendants; or (b) is or may be deemed to be or may be used as an admission of,
or evidence of, any fault or omission of any of the Defendants in any civil, criminal or
administrative proceeding in any court, administrative agency or other tribunal; or
(c) is admissible in any proceeding except an action to enforce or interpret the terms
of the Stipulation, the Settlement contained therein, and any other documents
executed in connection with the performance of the agreements embodied therein.
Defendants and/or the other Released Persons may file the Stipulation and/or this
Order and Final Judgment in any action that may be brought against them in order to
support a defense or counterclaim based on the principles of res judicata, collateral
estoppel, full faith and credit, release, good faith settlement, judgment bar or
reduction, or any other theory of claim preclusion or issue preclusion or similar
defense or counterclaim.
13.

Without affecting the finality of this Order and Final Judgment in any

way, this Court hereby retains continuing jurisdiction over (a) implementation of this
Settlement and any award or distribution of the Settlement Fund, including interest
earned thereon; (b) disposition of the Settlement Fund; (c) hearing and determining
applications for attorneys' fees and expenses in the Action; and (d) all parties hereto

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for the purpose of construing, enforcing, and administering the Stipulation and/or
the Settlement.
14.

This Order and Final Judgment is a final judgment in the Action as to all

claims among the Defendants, on the one hand, and the Lead Plaintiff and all Class
Members, on the other. This Court finds, for purposes of Rule 54(b) of the Federal
Rules of Civil Procedure, that there is no just reason for delay and expressly directs
entry of judgment as set forth herein.
15.

The Court finds that during the course of the Action, the Settling Parties

and their respective counsel at all times complied with and satisfied the
requirements of Federal Rule of Civil Procedure 11.
16.

In the event that the Settlement does not become effective in

accordance with the terms of the Stipulation or the Effective Date does not occur, or
in the event that the Settlement Fund, or any portion thereof, is returned pursuant to
the terms of the Stipulation to the Defendants, or to such Person that paid the
Settlement Amount, then this Order and Final Judgment shall be rendered null and
void to the extent provided by and in accordance with the Stipulation and shall be
vacated and, in such event, all orders entered and releases delivered in connection
herewith shall be null and void to the extent provided by and in accordance with the
Stipulation.
IT IS SO ORDERED.
DATED:

8/20/2012

/s/
THE HONORABLE VANESSA L. BRYANT
UNITED STATES DISTRICT JUDGE

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