CARROLL et al v. STETTLER et al

Filing 419

MEMORANDUM AND/OR OPINION ORDER THAT THE PLAINTIFFS' MOTION FOR FINAL APPROVAL OF PARTIAL CLASS ACTION SETTLEMNT (DOC. NO. 401) AND PLAINTIFFS' MOTION FOR AWARD OF ATTORNEYS' FEES, EXPENSES, AND INCENTIVE AWARDS FOR CLASS REPRESENTATIV ES (DOC. NO. 402) ARE GRANTED.THE OBJECTION FILED BY STEVEN MUCHNIJ, DATED 9/6/2011 (DOC. NO399) IS OVERRULED. THE COURT APPROVES THE TERMS OF ALL THE SETTLEMENT AGREEMENTS, WHICH ARE HEREBY INCORPORATED HEREIN AND MADE A PART HEREOF.THE COURT DISMIS SES, ON MERITS AND WITH PREJUDICE, ALL CLAIMS CURRENTLY PENDING BEFORE IT AGAINST THE RELEASED PARTIES BELONGING TO THE SETTLEMENT CLASS MEMBERS.THE CLERK OF COURT IS DIRECTED TO ENTER THE FINAL JUDGMENT AND ORDER OF DISMISSAL PERTAINING TO THE RELEASED PARTIES LISTED IN PARAGRAPH 7 ABOVE, ETC SIGNED BY HONORABLE MARY A. MCLAUGHLIN ON 10/19/2011. 10/20/2011 ENTERED AND COPIES MAILED TO PRO SE AND UNREPS, E-MAILED. (kk, )

IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF PENNSYLVANIA

THOMAS CARROLL, et al.
v.

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:
:
:
:
:
:

WILLIAM STETTLER, III,
et al.

CIVIL ACTION

NO. 10-2262

ORDER
AND NOW, this 19th day of October, 2011, upon
consideration of the plaintiffs’ Motion for Final Approval of
Partial Class Action Settlement (Docket No. 401), all
accompanying settlement agreements and exhibits, the plaintiffs’
Motion for Award of Attorneys’ Fees, Expenses, and Incentive
Awards for Class Representatives (Docket No. 402), the objection
thereto (Docket No. 399), and following a fairness hearing on
September 30, 2011, IT IS HEREBY ORDERED, for the reasons set
forth in an accompanying memorandum bearing today’s date, that
the motions are GRANTED.
1.

IT IS FURTHER ORDERED that:

Jurisdiction: This Court has subject-matter

jurisdiction over this action and personal jurisdiction over all
the parties to the Settlement Agreements.
2.

Definitions: Capitalized terms not otherwise

defined herein shall have the same meaning as set forth in the
Settlement Agreements.

Pls.’ Mot. for Final Approval of Partial

Class Action Settlement, Exs. A-E.

3.

The Settlement Class Members: The following

Settlement Class, which was conditionally certified in the
Court’s orders granting preliminary approval of this settlement,
is certified for settlement purposes as follows:
All persons or entities who invested with Gaddel
Enterprises Inc. (“Gaddel”) since April 2006 and
incurred a net loss (the “Class”). Excluded from the
Class are Defendants, Gaddel, any of their officers,
employees, or affiliates (hereinafter the “Settlement
Class”).
Those persons and entities who have duly requested exclusion are
hereby excluded from the Settlement Class.

See Opt-Out Notices,

ECF Nos. 385, 386.
4.

Objection: The objection filed by Steven Muchnij,

dated September 6, 2011 (Docket No. 399), is OVERRULED.
5.

Approval: The Court concludes that the proposed

settlement is a fair, reasonable, and adequate compromise of the
claims asserted in this action as it relates to the Released
Parties.

The Court therefore approves the terms of all the

Settlement Agreements, which are hereby incorporated herein and
made a part hereof.
6.

Effect: The plaintiffs, members of the Settlement

Class who did not request exclusion from the class in the time
and manner provided for in the Class Notice (hereinafter
“Settlement Class Members”), and the Released Parties are bound
by this Final Judgment and Order of Dismissal and by the
Settlement Agreements.
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7.

Released Parties: The Court dismisses, on the

merits and with prejudice, all claims currently pending before it
against the Released Parties belonging to the Settlement Class
Members.
As of the Effective Date of the Settlement, the class
representatives and the Settlement Class Members shall be deemed
to hereby fully and irrevocably release, waive, and discharge the
following Released Parties from all Released Claims (as defined
in section I.R of the Settlement Agreements): Sam Lepore, Sam
Lepore Investments, LLC, Benjamin Klibanoff, Elizabeth Klibanoff,
Gocko Holdings LLC, Matthew Kaufman, Emily Kaufman, Gription
Holdings LLC, Phillip McRae, Luanne McRae, Mark Oscar, Brady
Marrone, Mike DeBronzo, MJD Investments LLC, John Meyerle, Breen
Meyerle, Ian Virgin, Rabbit2007 Inc., Kevin B. O’Donnell, Sean
O’Dell, Tania Quinn, TJQ Prayers Corp., Jeffrey Jenkins, Sharron
Jenkins, Michael Diamantis, Jason T. Walker, Walker2007
Enterprises, Inc., Stuart Lakernick, Margaret Grant, 2006A
Corporation, Cynthia Yakaski, Joseph Yakaski, McCrea Resources
Corporation, Richard McCrea, Dana McCrea, Joseph Kearns,
Kearns275Enterprises, Inc., Drawn Bridge, Belladreams2007 Inc.,
William Bridge, and Marion Gallagher.
8.

Distribution: As soon as practicable, the Claims

Administrator shall calculate the pro rata share for each
Settlement Class Member and commence the process of distributing

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the Settlement Class Fund, after deduction for payment for
attorneys’ fees, notice and administration costs, expenses, and
incentive awards, as approved in this Order and accompanying
memorandum.
9.

Limitations on Use as Evidence: The Settlement

Agreements, acts performed in furtherance of the Settlement
Agreements or the settlement set forth therein, and documents
executed in furtherance of the Settlement Agreements or the
settlement set forth therein may not be deemed or be used as
evidence or an admission supporting: (a) the validity of any
claim made by one or more of the Class Representatives,
Settlement Class Members, or Class Counsel; (b) any wrongdoing or
liability of the Released Parties;, or (c) any falter or omission
of the Released Parties in any court, administrative agency, or
other proceeding.
The Settlement Agreements shall not be offered to be
admissible in evidence against Released Parties or cited or
referenced to in any action or proceeding, except in an action or
proceeding that is in furtherance of its terms or to enforce its
terms.
10.

Enforcement of Settlement: Nothing in this Final

Order and Judgment shall preclude any action to enforce the terms
of the Settlement Agreement.

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11.

The Clerk of Court is directed to enter the Final

Judgment and Order of Dismissal pertaining to the Released
Parties listed in paragraph 7 above.

BY THE COURT:

/s/ Mary A. McLaughlin
Mary A. McLaughlin, J.

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