Beesley et al v. International Paper Company et al

Filing 543

ORDER GRANTING 531 MOTION to Certify Class for Settlement filed by Ron Miller, Anthony Reed, David Miller, Charles Wade, Pat Beesley, Nelda Kistler, Paul Glenney. Signed by Chief Judge David R. Herndon on 10/10/13. (klh, )

IN THE UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF ILLINOIS

PAT BEESLEY, et al.,

Cause No: 06-703-DRH

Plaintiffs,
v.
INTERNATIONAL PAPER CO., et al.,
Defendants.

MEMORANDUM AND ORDER
HERNDON, Chief Judge:
Pending before the Court is plaintiffs’ motion for settlement class
certification (Doc. 531). Defendants do not oppose settlement class certification
(Docs. 537 & 539). Based on the reasons stated in the motion, the Court finds
that class certification is proper and grants the motion.
The Court CERTIFIES the following:
SETTLEMENT CLASS:
All participants in the International Paper Company Salaried Savings
Plan or the International Paper Company Hourly Savings Plan,
excluding the Defendants, whose Plan accounts had balances greater
than $0 at any time between January 1, 1997 and May 31, 2008. The
Class includes the Beneficiary of a deceased person who participated
in the Plan at any time during the Class Period, and/or, Alternate
Payees, in the case of a person subject to a Qualified Domestic
Relations Order who participated in the Plans at any time during the
Class Period.
COMPANY STOCK FUND Sub-Class:
All participants in the Plans, excluding the Defendants, whose
accounts held units of the Company Stock Fund from April 14, 1998,
through May 24, 2011 and whose units underperformed relative to
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the S&P 500 Index. This subclass also includes the Beneficiary of a
deceased person who participated in the Plans at any time during
that period, and/or, Alternate Payees, in the case of a person subject
to a Qualified Domestic Relations Order who participated in the
Plans at any time during that period.
Large Cap Stock Fund Sub-Class:
All participants in the Plans, excluding the Defendants, whose
accounts held units of the Large Cap Stock Fund (LCSF) from April
1, 2002, through May 24, 2011, and whose LCSF units
underperformed relative to the Russell 1000 Index. This sub-class
also includes the Beneficiary of a deceased person who participated
in the Plans at any time during that period, and/or, Alternate Payees,
in the case of a person subject to a Qualified Domestic Relations
Order who participated in the Plans at any time during that period.
Accordingly,

the

Court

GRANTS

plaintiffs’

motion

for

settlement

certification (Doc. 531). Further, the Court APPOINTS the named plaintiffs as
representatives of the settlement class, the company stock fund sub-class and the
large cap stock fund sub-class.

The Court, also, APPOINTS the law firm of

Schlichter, Bogard & Denton as class counsel.
IT IS SO ORDERED.
Signed this 10th day of October, 2013.

Digitally signed by
David R. Herndon
Date: 2013.10.10
16:06:21 -05'00'
Chief Judge
United States District Court

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