Opinion
[PROPOSED] ORDER GRANTING PRELIMINARY APPROVAL OF CLASS ACTION SETTLEMENT
JOHN A. MENDEZ, District Judge.
Plaintiffs' Motion for an order granting preliminary approval of the class settlement in the above-captioned action, approving the manner and content of notice to the class, and setting a final approval hearing, came on for hearing in Courtroom Six of this Court on August 19, 2015.
Having reviewed the Class Action Settlement Agreement (the "Agreement"), the motion for preliminary approval, as well as the points and authorities and declaration filed in support thereof, this Court preliminarily finds that: the proposed settlement appears fair, reasonable, and adequate, and falls within the range of possible approval meriting submission to potential class members; notice of the proposed settlement should be sent to the Plaintiff Class in the manner described in the Agreement; and a hearing should be held after said notices are issued to finally determine if the Agreement and settlement are fair, reasonable, and adequate, to the settlement classes and if an order granting final approval should be entered in this action based upon the terms of the Agreement.
IT IS THEREFORE ORDERED THAT:
1. Defined Terms. This Order incorporates by reference the parties' Agreement, on file with this Court, and all defined terms herein shall have the same meaning as set forth in the Agreement.
2. Class Action. This action is provisionally certified for class treatment for settlement purposes only and pursuant to the parties' Settlement Agreement, with the Class defined as the following:
All exempt escrow officers/escrow managers employed by Defendant in California during the period of February 6, 2008 through the date of preliminary approval of the parties' settlement or October 31, 2015, whichever is earlier.
3. Proposed Settlement. The Court grants preliminary approval to the terms set forth in the Agreement between the parties. The proposed settlement is the product of extensive and costly investigation by both parties, and that settlement at this time avoids additional substantial costs and delay and risk presented by further prosecution of this action. The Court finds that the proposed settlement is the product of informed, non-collusive, and arm's-length negotiations. The proposed settlement appears, upon preliminary review, to be within the range of reasonableness and accordingly shall be submitted to the Plaintiff Class Members for their consideration and for a hearing to determine whether the settlement shall be finally approved by the Court.
4. Appointment of Class Counsel. Norman Blumenthal and Kyle Nordrehaug, of Blumenthal, Nordrehaug & Bhowmik, are appointed Class Counsel for settlement purposes.
5. Approval of Class Representative. Plaintiffs Laurie Bueche and Kelly Collier are approved as adequate representatives of the Plaintiff Class for purposes of settlement.
6. Notice. The Court finds that the mailing of the Notice and related materials substantially in the manner and form as set forth in the Agreement and this Order meet the requirements of due process, is the best notice practicable under the circumstances, and shall constitute due and sufficient notice to all persons entitled thereto. Accordingly, within fourteen (14) calendar days of execution of the Court's order granting preliminary approval, Defendant will provide the names, last known telephone numbers and addresses, social security numbers and dates of employment ("Class List") for members of the Plaintiff Class to the Administrator, and within fourteen (14) calendar days thereafter the Administrator shall cause the Notice to be mailed to the members of the Plaintiff Class to their last known address in accordance with the Agreement. The Claims Administrator shall make such further efforts as are possible and reasonable (if any), to provide an applicable Notice to each member of the Plaintiff Class whose original Notice is returned as undeliverable.
7. Exclusions/"Opt Outs." Plaintiff Class Members may exclude themselves from the Plaintiff Class by mailing the Claims Administrator a signed and dated request for exclusion in accordance with the instructions in the Notice. To be timely, all such requests for exclusion or opt-outs must be postmarked no later than forty five calendar days from the initial Notice mailing by the Administrator.
8. Claims. Plaintiff Class Members who wish to be paid their allocation of the settlement fund must submit a signed W4 form to the Administrator, postmarked no later than sixty (60) days from the date of mailing of the Notices. Class Members who do not file a valid W4 form shall not share in the distribution of the Net Settlement Amount, but nevertheless shall be bound by the release of claims set out in the Agreement, assuming the Court grants Final Approval.
9. Objections. Plaintiff Class Members who wish to object to the Settlement must file with the Court and serve on Plaintiffs' Counsel and Defendant's counsel a written statement objecting to the Settlement. The written statement must be filed with the Court and served on Plaintiffs' Counsel and Defendant's counsel no later than 30 days after the date the Notice is first mailed (the "Objection Deadline Date"). No member of the Plaintiff Class shall be entitled to be heard at the Final Approval Hearing (whether individually or through separate counsel) or to object to the Settlement, and no written objections or briefs submitted by any member of the Plaintiff Class shall be received or considered by the Court at the Final Approval Hearing, unless written notice of the Plaintiff Class member's intention to appear at the Final Approval Hearing, and copies of any written objections or briefs, shall have been filed with the Court and served on Plaintiffs' Counsel and Defendant's counsel on or before the Objection Deadline Date. Members of the Plaintiff Class who fail to file and serve timely written objections in the manner specified above shall be deemed to have waived any objections and shall be foreclosed from making any objection (whether by appeal or otherwise) to the Settlement, or any aspect of the Settlement.
10. Settlement Administration. The parties shall retain the services of Gilardi & Co., LLC for the administration of this settlement, and said entity is hereby appointed Claims Administrator. The Claims Administrator's fees and costs shall be capped at eleven thousand dollars and no cents ($11, 000.00).
11. Final Hearing. A final hearing shall be held at January 26, 2016 at 1:30 PM on in Courtroom 6 of the United States District Court, Eastern District, before Honorable John A. Mendez to evaluate whether the Court should grant final approval of the settlement, which includes the following considerations:
a) Objections to the proposed settlement by Class Members will be considered by the Court if mailed to the Claims Administrator with a postmark of no later than sixty (60) days from the date the Notice is first mailed.
b) Class Counsel and counsel for Defendant will be prepared at the hearing to respond to any objections timely filed by the Class Members and to provide other information, as appropriate, bearing on whether or not the settlement should be approved.
c) Pursuant to the Agreement, Class Counsel's application for fees and costs, as well as the application for enhancement awards, shall be scheduled for determination at the Final Approval Hearing.
12. Failure of Settlement. In the event the proposed settlement as provided in the Agreement is not approved by the Court, or for any reason the parties fail to obtain a final approval order as contemplated in the Agreement, or the Agreement is terminated or voided pursuant to its terms, the Agreement and all orders in connection therewith, shall become null and void and of no further force or effect, and shall not be used or referred to for any purpose whatsoever. In such event, the Agreement, and all negotiations and proceedings relating thereto shall be withdrawn without prejudice as to the rights of any and all parties thereto.
IT IS SO ORDERED.