Kardonick v. JP Morgan Chase & Co. et al

Filing 367

MOTION PLAINTIFFS' MOTION FOR FINAL APPROVAL OF CLASS ACTION SETTLEMENT AND PLAN OF ALLOCATION by David Kardonick. (Attachments: # 1 Exhibit 1, # 2 Exhibit 2, # 3 Exhibit 3, # 4 Exhibit 4, # 5 Exhibit 4-A, # 6 Exhibit 4-B, # 7 Exhibit 4-C, # 8 Exhibit 5, # 9 Text of Proposed Order)(Ku, Brian)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
MIAMI DIVISION
DAVID KARDONICK, individually and on
behalf of all others similarly situated and the
general public,

CASE NO.: 1:10-cv-23235/HOEVELER

Plaintiff,

CLASS ACTION

vs.
JPMorgan Chase & Co. and
Chase Bank USA, N.A.,
Defendants.
_________________________________________ /
[proposed] ORDER GRANTING MOTION FOR FINAL APPROVAL OF
SETTLEMENT
The Court, having reviewed and considered the Plaintiff’s Motion for Final Approval of
Settlement and Petition for Attorneys’ Fees and Expenses, and having reviewed and considered
the terms and conditions of the proposed Settlement as set forth in the Stipulation, a copy of
which has been submitted to the Court, and having reviewed, and the Court having held a
Fairness Hearing on September 9, 2011, after being satisfied that notice to the Settlement Class
Members has been provided in accordance with the Court’s Order Granting Preliminary
Approval, the Court GRANTS Plaintiff’s Motion having considered and then overruled the
limited objections received, and makes the following FINDINGS:
A.

This Judgment incorporates by reference the definitions set forth in the

Stipulation, and all terms used herein have the same meaning as set forth in the Stipulation,
unless otherwise stated.
B.

This Court has jurisdiction over the subject matter over this case pursuant to the

Class Action Fairness Act of 2005, specifically 28 U.S.C. § 1332(d)(2), and has supplemental

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jurisdiction over the state law claims pursuant to 28 U.S.C. § 1367. The Court has personal
jurisdiction over all parties hereto, including all Class Members.
C.

Notice to the members of the Class has been provided in accordance with the

Notice requirement in this Court’s Order Granting Preliminary Approval. Such notice is hereby
found to be the best notice practicable under the circumstances, and constitutes due and
sufficient notice, in full compliance with the notice requirement of Rule 23(e) of the Federal
Rules of Civil Procedure. The notice procedures provided sufficient notice of the Settlement and
of the Fairness Hearing to all persons affected by and/or entitled to participate in the Settlement.
D.

The Court has held a hearing to consider the fairness, reasonableness, and

adequacy of the Settlement.
E.

The Settlement is the product of good faith, arm’s length negotiations between

Class Counsel and counsel for the Defendants.
F.

Having considered all the relevant and necessary factors, the Settlement provided

for in the Stipulation is in all respects fair, reasonable, adequate, and proper, and in the best
interest of the parties.
On the basis of the foregoing findings and submissions and proceedings referred to
above, NOW THEREFORE IT IS ORDERED, ADJUDGED AND DECREED:
1.

Pursuant to Federal Rule of Civil Procedure 23(e), this Court finds that the

Settlement provides for in the Stipulation is in all respects fair, reasonable, adequate, and proper,
and in the best interest of the parties. The parties are hereby ordered to perform its terms.
2.

Pursuant to Federal Rule of Civil Procedure 23, and for purposes of settlement

only, the Court hereby certifies this action as a class action on behalf of the following Settlement
Class:

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All Chase credit card holders who were enrolled in or billed for a
Payment Protection Product at any time between September 1,
2004 and November 11, 2010. Excluded from the class are all
Chase cardholders whose Chase credit card accounts that were
enrolled or billed for a Payment Protection Product were
discharged in bankruptcy.
3.

The Court finds the prerequisites of class certification for a settlement class under

Rule 23(a) and 23(b)(3) have been met.
4.

The Court hereby appoints David Kardonick, John David, and Michael Clemins

as Class Representatives of the Settlement Class.
5.

Having considered the factors set forth in Rule 23(g), and having found Golomb

& Honik, P.C., and Carney Williams Bates Pulliam & Bowman, PLLC to be adequate, the Court
hereby appoints Golomb & Honik, P.C. and Carney Williams Bates Pulliam & Bowman, PLLC
as Class Counsel to represent the Settlement Class. Class Counsel and Class Representative
Plaintiffs have fairly and adequately represented the Class with respect to the Settlement and the
Stipulation.
6.

The Notice provided to the members of the Class was provided in accordance

with the Notice requirement in this Court’s Order Granting Preliminary Approval. Such notice is
hereby found to be the best notice practicable under the circumstances, and constitutes due and
sufficient notice, in full compliance with the notice requirement of Rule 23(e) of the Federal
Rules of Civil Procedure. The notice procedures provided sufficient notice of the Settlement and
of the Fairness Hearing to all persons affected by and/or entitled to participate in the Settlement.
7.

The Court heard and overruled all objections to the Settlement.

8.

Several Class Members have requested to opt out of the Settlement (“Opt-Out

Plaintiffs”). The Opt-Out Plaintiffs have complied with the Court’s procedures, and will not be
bound by the terms of this settlement.

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9.

Any Class Member who does not seek exclusion from the Class in accordance

with the terms and conditions of the Stipulation of Settlement, or does not file a conforming
Proof of Claim form, will not be entitled to receive any benefits pursuant to this Stipulation of
Settlement, but will otherwise be bound together with all Class Members by all of the terms of
the Stipulation of Settlement, and will be barred from bringing any action against any of the
Released Parties concerning the Released Claims.
10.

Each and every Releasing Party shall be deemed to have, and by operation of this

Final Order and Judgment shall have fully, finally and forever released, relinquished and
discharged all Released Claims against the Released Parties.
11.

Without affecting the finality of this Judgment in any way, this Court retains

jurisdiction over: (a) implementation of this Settlement and any award or distribution of the
benefits conferred to the Class; and (b) all parties hereto for the purpose of construing, enforcing,
and administering the Stipulation.
12.

The Court finds that during the course of this litigation the parties and their

respective counsel have at all times complied with the requirements of Federal Rule of Civil
Procedure 11
13.

The Court, having considered Plaintiffs’ Application for Attorneys’ Fees and

Expenses, grants Plaintiffs’ requests.

IT IS SO ORDERED at Miami, Florida this _____ of ______, 2011

________________________
THE HONORABLE WILLIAM M. HOEVELER
UNITED STATES DISTRICT JUDGE

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