United States District Court, E.D. Pennsylvania
IN RE DFC GLOBAL CORP. SECURITIES LITIGATION
ORDER GRANTING CO-LEAD COUNSEL'S MOTION FOR AN
AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION
M. SCHILLER UNITED STATES DISTRICT JUDGE
September 19, 2017, a hearing was held before this Court to
consider, among other matters: (1) Co-Lead Counsel's
Motion for an Award of Attorneys' Fees and Reimbursement
of Litigation Expenses (the "Fee and Expense
Application"); and (2) the fairness and reasonableness
of the Fee and Expense Application to the Class Members. All
interested persons were afforded the opportunity to be heard;
maximum amount of fees and expenses that would be requested
by Co-Lead-Counsel was set forth in the Notice of (I)
Pendency of Class Action and Proposed Settlement; (II)
Settlement Fairness Hearing; and (III) Motion for an Award of
Attorneys' Fees and Reimbursement of Litigation Expenses
(the "Notice") that was disseminated in accordance
with the Court's Order entered on March 8, 2017;
Notice advised that any objections to the Fee and Expense
Application were required to be filed with the Court no later
than June 16, 2017, and mailed to counsel for the parties
such that they were received no later than June 16, 2017;
June 1, 2017, Co-Lead Counsel filed their Fee and Expense
Application, supported by declarations and a memorandum of
Court has duly considered Co-Lead Counsel's Fee and
Expense Application, the declarations and memorandum of law
submitted in support thereof, and all of the submissions and
arguments presented with respect thereto.
THEREFORE, after due deliberation, IT IS HEREBY ORDERED,
ADJUDGED, AND DECREED:
Order incorporates by reference the definitions in the
Stipulation and Agreement of Settlement dated February 28,
2017 (ECF 131-1) (the "Stipulation"), as well as
the provisions set forth in paragraph 15 of the Stipulation.
All capitalized terms not otherwise defined herein shall have
the same meanings as set forth in the Stipulation.
Court has jurisdiction to enter this Order and over the
subject matter of the Action and all parties to the Action,
including all Class Members.
Fee and Expense Application is GRANTED. Co-Lead Counsel are
awarded the sum of 25% of the Settlement Fund) in
attorneys' fees, plus interest at the same rate earned by
the Settlement Fund.
Co-Lead Counsel's motion for reimbursement of litigation
expenses is GRANTED. Lead Counsel are awarded the sum of
$472, 462.44 in litigation expenses.
making this award of attorneys' fees and reimbursement of
Litigation Expenses to be paid from the Settlement Fund, the
Court has considered and found that:
(a) The Settlement has created a fund of $30, 000, 000 in
cash that has been funded into escrow pursuant to the terms
of the Stipulation, and that numerous Class Members who
submit acceptable Claim Forms will benefit from the
Settlement that ...