The Berkshire Bank v. Bank of America Corporation et al

Filing 430

ORDER GRANTING PLAINTIFFS' MOTION FOR DISTRIBUTION OF CLASS ACTION SETTLEMENT FUNDS granting (3592) Motion for Disbursement of Funds in case 1:11-md-02262-NRB. IT IS HEREBY ORDERED THAT:1. Plaintiffs' Motion for Distribution of Class Acti on Settlement Funds is GRANTED. 2. The funds that are currently in the Settlement Funds1 (after deducting any Notice and Administration Cost, Taxes and Tax Expenses) shall be distributed on a pro rata basis to the Authorized Claimants identified in Exhibit B-1 to the Declaration of Jennifer M. Keough in Support of Motion for Distribution of Class Action Settlement Funds (the "Keough Declaration"), at the direction of Plaintiffs' Counsel pursuant to the various Settlement Ag reements and the Plan of Distribution previously approved by the Court. 3. Any person asserting any rejected or subsequently filed claims for the relevant settlements are finally and forever barred as of October 31, 2022, the date used to finalize t he administration based on the Keough Declaration, as further set forth herein. 6. Pursuant to the Plan of Distribution, if any funds remain in the Settlement Funds by reason of uncashed checks or otherwise, then, after JND has made reasonable and d iligent efforts to have Settlement Class Members who are entitled to participate in the distribution of the Settlement Funds cash their distribution checks, any balance remaining in the Settlement Funds after six (6) months from the initial distribut ion (whether by reason of tax refunds uncashed checks or otherwise), Plaintiffs' Counsel, in connection with JND, shall, if feasible and cost-effective make a second distribution to claimants who cashed their checks from the initial distributio n and who would receive at least $10.00. Additional re-distributions may occur thereafter in three (3) month intervals until Plaintiffs' Counsel, in consultation with JND, determines that further redistribution is not cost-effective. 7. JND 's request for payment of: (a) outstanding fees and expenses already incurred in connection with the administration in the amount of $17,387.73; and (b) its estimate to complete the Initial Distribution in the amount of $26,802.00, as set forth in paragraph 17 of the Keough Declaration and Exhibit C thereto, is approved. 8. This Court retains jurisdiction over any further application or matter which may arise in connection with this action. IT IS SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 12/16/2022) Filed In Associated Cases: 1:11-md-02262-NRB, 1:12-cv-05723-NRB. (mml) Transmission to Finance Unit (Cashiers) for processing.

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
MDL No. 2262
IN RE LIBOR-BASED FINANCIAL
INSTRUMENTS ANTITRUST LITIGATION
Master File No. 1:11-md-2262-NRB
THIS DOCUMENT RELATES TO:
ECF Case
THE BERKSHIRE BANK and
GOVERNMENT BANK FOR PUERTO
RICO Individually and On Behalf of All
Others Similarly Situated,

Civil Action No. 12-CV-5723-NRB

Plaintiffs,
v.
BANK OF AMERICA CORPORATION, et
al.,
Defendants.
[PROPOSED] ORDER GRANTING PLAINTIFFS’ MOTION FOR
DISTRIBUTION OF CLASS ACTION SETTLEMENT FUNDS

IT IS HEREBY ORDERED THAT:
1. Plaintiffs’ Motion for Distribution of Class Action Settlement Funds is GRANTED.
2. The funds that are currently in the Settlement Funds1 (after deducting any Notice and
Administration Cost, Taxes and Tax Expenses) shall be distributed on a pro rata basis to the
Authorized Claimants identified in Exhibit B-1 to the Declaration of Jennifer M. Keough in
Support of Motion for Distribution of Class Action Settlement Funds (the “Keough Declaration”),
at the direction of Plaintiffs’ Counsel pursuant to the various Settlement Agreements and the Plan
of Distribution previously approved by the Court.
3. Any person asserting any rejected or subsequently filed claims for the relevant
settlements are finally and forever barred as of October 31, 2022, the date used to finalize the
administration based on the Keough Declaration.
4. The Court finds that the administration of the Settlements and proposed distribution of
the Settlement Funds comply with the terms of the Stipulations and the Plan of Distribution and
that 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, including, but not limited to Plaintiffs’
Counsel and the Court-appointed Claims Administrator, JND Legal Administration (“JND”), are
released and discharged from any and all claims arising out of such involvement, and all Settlement
Class Members are barred from making any further claims against the Settlement Funds or the
released parties beyond the amount allocated to them pursuant to this Order.

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Unless otherwise indicated, all capitalized terms herein have the same meanings as set forth in
each of the respective Stipulation and Agreement of Settlement (the “Stipulation”) filed with the
Court. See ECF Nos. 2506-3, 2506-4, 2506-5, 2969-1, 3021-3, 3204-1, 3343-1 and 3343-2.
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5. The checks for distribution to Authorized Claimants shall bear the notation “DEPOSIT
PROMPTLY, VOID AND SUBJECT TO RE-DISTRIBUTION IF NOT NEGOTIATED
WITHIN 180 DAYS OF DISTRIBUTION.” Plaintiffs’ Counsel and JND are authorized to locate
and/or contact any Authorized Claimant who has not cashed his, her, or its check within said time.
6. Pursuant to the Plan of Distribution, if any funds remain in the Settlement Funds by
reason of uncashed checks or otherwise, then, after JND has made reasonable and diligent efforts
to have Settlement Class Members who are entitled to participate in the distribution of the
Settlement Funds cash their distribution checks, any balance remaining in the Settlement Funds
after six (6) months from the initial distribution (whether by reason of tax refunds uncashed checks
or otherwise), Plaintiffs’ Counsel, in connection with JND, shall, if feasible and cost-effective
make a second distribution to claimants who cashed their checks from the initial distribution and
who would receive at least $10.00. Additional re-distributions may occur thereafter in three (3)
month intervals until Plaintiffs’ Counsel, in consultation with JND, determines that further redistribution is not cost-effective.
7. JND’s request for payment of: (a) outstanding fees and expenses already incurred in
connection with the administration in the amount of $17,387.73; and (b) its estimate to complete
the Initial Distribution in the amount of $26,802.00, as set forth in paragraph 17 of the Keough
Declaration and Exhibit C thereto, is approved.
8. This Court retains jurisdiction over any further application or matter which may arise
in connection with this action.
IT IS SO ORDERED.
December 16, 2022
Dated: ___________________

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NAOMI REICE BUCHWALD
UNITED STATES DISTRICT JUDGE

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