Lowinger v. MGM Mirage et al

Filing 397

ORDER Granting 358 Motion for Order Approving Plan of Allocation of Settlement Proceeds. (See order for details.) Signed by Chief Judge Gloria M. Navarro on 3/1/16. (Copies have been distributed pursuant to the NEF - PS)

Case 2:09-cv-01558-GMN-VCF Document 392-2 Filed 02/23/16 Page 1 of 3

KESSLER TOPAZ MELTZER
& CHECK, LLP
ELI R. GREENSTEIN (Pro Hac Vice)
JENNIFER L. JOOST (Pro Hac Vice)
PAUL A. BREUCOP (Pro Hac Vice)
One Sansome Street, Suite 1850
San Francisco, CA 94104
Telephone: [phone]
415/400-3001 (fax)
– and –
GREGORY M. CASTALDO (Pro Hac Vice)
280 King of Prussia Rd.
Radnor, PA 19087
Telephone: [phone]
610/667-7056 (fax)

ROBBINS GELLER RUDMAN
& DOWD LLP
ARTHUR C. LEAHY (Pro Hac Vice)
ELLEN GUSIKOFF STEWART (Pro Hac Vice)
BRIAN O. O’MARA (Nevada Bar #8214)
RYAN A. LLORENS (Pro Hac Vice)
MATTHEW I. ALPERT (Pro Hac Vice)
655 West Broadway, Suite 1900
San Diego, CA 92101
Telephone: [phone]
619/231-7423 (fax)
NIX PATTERSON & ROACH, LLP
BRADLEY E. BECKWORTH (Pro Hac Vice)
JEFFREY J. ANGELOVICH (Pro Hac Vice)
SUSAN WHATLEY (Pro Hac Vice)
LISA P. BALDWIN (Pro Hac Vice)
205 Linda Drive
Daingerfield, TX 75638
Telephone: [phone]
903/645-4415 (fax)

Lead Counsel for Plaintiffs
UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA
In re MGM MIRAGE SECURITIES
LITIGATION

This Document Relates To:
ALL ACTIONS.

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No. 2:09-cv-01558-GMN-VCF
CLASS ACTION
[PROPOSED] ORDER APPROVING PLAN
OF ALLOCATION OF SETTLEMENT
PROCEEDS
DATE: March 1, 2016
TIME: 9:00 a.m.
CTRM: The Honorable Gloria M. Navarro

Case 2:09-cv-01558-GMN-VCF Document 392-2 Filed 02/23/16 Page 2 of 3

THIS MATTER having come before the Court on March 1, 2016, on the motion of Lead
Plaintiffs for Approval of the Plan of Allocation of Settlement Proceeds (the “Motion”) (Dkt. No.
358) in the above-captioned action; the Court having considered all papers filed and proceedings
conducted herein and otherwise being fully informed in the premises and good cause appearing
therefore;
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that:
1.

For purposes of this Order, the capitalized terms used herein shall have the same

meanings as set forth in the Stipulation and Agreement of Settlement dated August 28, 2015 (the
“Settlement Agreement”), and filed with the Court.
2.

This Court has jurisdiction to enter this Order. This Court has jurisdiction over the

subject matter of the Motion and all matters relating thereto, and over all Settling Parties to the
Action, including all members of the Class who have not timely and validly requested exclusion.
3.

Pursuant to and in full compliance with Rule 23 of the Federal Rules of Civil

Procedure, the Court finds and concludes that due and adequate notice was directed to all Persons
and entities who are Class Members, including individual notice to those who could be identified
with reasonable effort, advising them of the Plan of Allocation and of their right to object thereto,
and a full and fair opportunity was accorded to all Persons and entities who are Class Members to be
heard with respect to the Plan of Allocation.
4.

The Court hereby finds and concludes that the formula for the calculation of the

claims of Authorized Claimants which is set forth in the Notice of Pendency of Class Action and
Proposed Settlement, Motion for Attorneys’ Fees and Settlement Fairness Hearing (the “Notice”)
sent to Class Members provides a fair and reasonable basis upon which to allocate the proceeds of

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Case 2:09-cv-01558-GMN-VCF Document 392-2 Filed 02/23/16 Page 3 of 3

the Net Settlement Fund established by the Settlement Agreement among Class Members, with due
consideration having been given to administrative convenience and necessity.
5.

The Court hereby finds and concludes that the Plan of Allocation set forth in the

Notice is in all respects fair and reasonable and the Court hereby approves the Plan of Allocation.
6.

Jurisdiction is hereby retained over the Settling Parties and Class Members for all

matters relating to this Action, including the administration, interpretation, effectuation or
enforcement of the Settlement Agreement and this Order.
7.

The Court has considered the objection of Nickolas A. Kacprowski to the $10.00

minimum distribution and finds it to be without merit. Therefore, that portion of Mr. Kacprowski’s
objection is overruled.
8.

The Court directs immediate entry of this Order by the Clerk of the Court.

IT IS SO ORDERED.

March 1, 2016
DATED: ___________________

______________________________________
THE HONORABLE GLORIA M. NAVARRO
CHIEF UNITED STATES DISTRICT JUDGE

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