Bolding et al v. Banner Bank

Filing 401

ORDER GRANTING FINAL APPROVAL OF CLASS ACTION SETTLEMENT re 396 Motion. Signed by Judge Robert S. Lasnik.(MJV)

1
2
3
4
5

UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF WASHINGTON
AT SEATTLE

6
7
8

KELLY BOLDING, et al.,
CASE NO. 2:17-cv-00601-RSL

9
10
11
12

Plaintiffs,
v.

ORDER GRANTING FINAL
APPROVAL OF CLASS ACTION
SETTLEMENT

BANNER BANK,
Defendant.

13
14
15
16
17
18
19
20
21
22
23
24
25

This matter comes before the Court on “Plaintiffs’ Motion for Final Approval of
Class Action Settlement.” Dkt. # 396. Having reviewed the submissions of the parties and
heard the arguments of counsel, the Court finds as follows:
(1) The settlement negotiated between the parties is fair, reasonable, and adequate.
It is the product of hard-fought, arms-length, non-collusive negotiations, is reasonably
anticipated to provide approximately $14 million in financial relief to a relatively small
class, treats class members equitably relative to each other, and has not garnered any
objections or opt-outs. In addition, the litigation triggered operational changes in 2017 that
in all likelihood reduced unpaid work and further benefited the class. The settlement is
impressive in light of the uncertainty of success on the merits, the anticipated challenges
associated with proving damages, and the additional litigation fees, costs, and delays that

26
ORDER GRANTING FINAL APPROVAL OF CLASS
ACTION SETTLEMENT - 1

1
2
3
4

would arise if the claims were pursued through trial. The Court therefore grants final
approval to the settlement.
(2) The Court confirms its certification for settlement purposes of the following
settlement class under Fed. R. Civ. P. 23(b)(3):

5
6
7
8
9

(a)

Commissioned Loan Officers, and/or Residential Lenders (collectively, “MLOs”) who
were employed by Banner Bank or its predecessor, AmericanWest Bank, in Washington
State at any time from April 17, 2014, to the date the order preliminarily approving the
settlement was entered (“Settlement Date”).

10
11
12

(b)

15

Settlement Date.
(c)

18
19
20
21
22

All current and former MLOs who were employed by Banner Bank or

its predecessor, AmericanWest Bank, in California at any time from April 17, 2013, to the
Settlement Date.

16
17

All current and former MLOs who were employed by Banner Bank or

its predecessor, AmericanWest Bank, in Oregon at any time from April 17, 2011, to the

13
14

All current and former Mortgage Loan Officers, Real Estate

(d)

The Settlement Class also includes Lisa Garrison, whose Settlement

Class Period is April 17, 2014 to the last date of employment.
(3) The class notice program and class counsels’ additional efforts have and will
continue to provide the best notice practicable to the settlement class members of this
litigation, their right to object to the settlement or to exclude themselves from participation
therein, their right to make a claim under the settlement, and their right to appear at the
final approval hearing.

23
24

//

25
26
ORDER GRANTING FINAL APPROVAL OF CLASS
ACTION SETTLEMENT - 2

1
2
3

(4) The Court hereby approves the negotiated plan of distribution of the settlement
funds. The parties are directed to proceed with the settlement procedures as specified under
the terms of the settlement agreement.

4
5

Dated this 22nd day of February, 2024.

6
7

Robert S. Lasnik
United States District Judge

8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
ORDER GRANTING FINAL APPROVAL OF CLASS
ACTION SETTLEMENT - 3