Braun v. GT Solar International, Inc., et al

Filing 144

SIGNED ORDER FOR DISTRIBUTION OF CLASS SETTLEMENT FUND. So Ordered by Chief Judge Joseph N. Laplante.(cmp)

UNITED STATES DISTRICT COURT
DISTRICT OF NEW HAMPSHIRE
IRVING S. BRAUN, individually and on
behalf of all others similarly situated,
Plaintiff,

CIVIL ACTION NO.l:OS-CV-00312-JL

vs.

(MAIN CASE)

GT SOLAR INTERNATIONAL, INC., et al.,

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Defendants.

[P~ ORDER FOR DISTRIBUTION OF CLASS SETTLEMENT FUND
This matter comes before the Court on Lead Plaintiffs Assented-To Motion for
an Order for Distribution of Class Settlement Fund, made pursuant to Paragraph 10 of the
Stipulation of Settlement (the "Stipulation") approved by this Court on September 27,
2011, which requires Lead Counsel to apply to the Court, on notice to Defendants'
Counsel, for an order approving the Claims Administrator's administrative
determinations concerning the acceptance and rejection of claims submitted herein,
approving any fees and expenses of the Claims Administrator not previously applied for,
and directing payment of the Net Settlement Fund to Authorized Claimants.

NOW, THEREFORE, upon review of Lead Plaintiffs Assented-To Motion for
an Order for Distribution of Class Settlement Fund and the accompanying Affidavit of
Paul Mulholland, CPA, CVA Concerning Administrative Procedures Performed to
Process Claims and the Results Thereof ("Mulholland Affidavit"), and upon all prior
proceedings herein, and after due deliberation, the Court hereby finds and orders as
follows:

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I.

The administrative determinations of the Claims Administrator accepting

the claims as indicated in the Mulholland Affidavit are approved, and said claims are
accepted.
2.

The administrative determinations of the Claims Administrator rejecting

the claims as described in the Mulholland Affidavit are approved, and said claims are
rejected.
3.

The balance of the Settlement Fund and interest accrued thereon after

deducting the payments previously allowed and set forth herein (the "Net Settlement
Fund") shall be distributed to the eligible claimants listed in Exhibit B-1 to the
Mulholland Affidavit in proportion to the Recognized Claim allocated to each such
eligible claimant.
4.

The payments to be distributed to the Authorized Claimants shall bear the

notation "CASH PROMPTLY, VOID AND SUBJECT TO RE-DISTRIBUTION 120
DAYS AFTER ISSUE DATE."

Lead Counsel and the Claims Administrator are

authorized to take appropriate action to locate and/or contact any eligible claimant who
has not cashed his, her, or its distribution within said time.
5.

Strategic Claims Services shall be paid the sum of $13,080.52 from the

Settlement Fund and the interest accrued thereon for additional fees and expenses
incurred in connection with the services performed and to be performed in giving notice
to the Class, preparing tax returns for the Settlement Fund, processing the Proofs of
Claim, and administering and distributing the Net Settlement Fund.
6.

If any funds remain in the Net Settlement Fund by reason of uncashed

checks, or otherwise, after the Claims Administrator has made reasonable and diligent

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efforts to have Authorized Claimants who are entitled to participate in the distribution of
the Net Settlement Fund cash their distribution checks, then any balance remaining in the
Net Settlement Fund six (6) months after the initial distribution of such funds shall be
used: (a) first, to pay any amounts mistakenly omitted from the initial distribution to
Authorized Claimants or to pay any late, but otherwise valid and fully documented claims
received after the cut-off date used to make the initial distribution, which were not
previously authorized by the Court to be paid, provided that such distributions to any late
post-distribution claimants meet all of the other criteria for inclusion in the initial
distribution; (b) second, to pay any additional settlement administration fees and
expenses, including those of Lead Counsel and State Counsel, as may be approved by the
Court; and (c) finally, to the extent that the residual amount is determined by Lead
Counsel to be of a size insufficient to justify the cost of a further distribution to the
Authorized Claimants, to be donated to a 501(c)(3) public charity selected by Lead
Counsel.
7.

All persons involved in the review, verification, calculation, tabulation, or

any other aspect of the processing of the claims submitted herein, or otherwise involved
in the administration or taxation of the Settlement Fund or the Net Settlement Fund are
released and discharged from any and all claims arising out of such involvement, and all
Class Members, whether or not they are to receive payment from the Net Settlement
Fund, are barred from making any further claim against the Net Settlement Fund or the
released persons beyond the amount allocated to them pursuant to this Order.
8.

The Claims Administrator is authorized to discard paper or hard copies of

the Proofs of Claim and supporting documents not less than one year after the distribution

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of the Net Settlement Fund to the eligible claimants and electronic or magnetic media
data not less than three years after the distribution of the Net Settlement Fund to the
eligible claimants.
9.

This Court retains jurisdiction over any further application or matter that

may arise in connection with this Action.
10.

No claim submitted after June 28, 2012 may be included in the initial

distribution for any reason whatsoever.

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SIGNED this -~L-- day of _

_::j::o....·_v.-'-~-~:;;.o-<-·--- 2012

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