Opinion
Nos. 03 Civ. 2937 (WHP), 03 Civ. 2938 (WHP), 03 Civ. 2939 (WHP), 03 Civ. 2940 (WHP), 03 Civ. 2941 (WHP), 03 Civ. 2942 (WHP), 03 Civ. 2943 (WHP), 03 Civ. 2944 (WHP), 03 Civ. 2945 (WHP), 03 Civ. 2946 (WHP), 03 Civ. 2947 (WHP), 03 Civ. 2948 (WHP), 04 Civ. 6909 (WHP), 04 Civ. 6910 (WHP).
May 4, 2005
ORDER
The Final Judgments in these related actions require the investment bank defendants to pay all fees, costs and expenses incurred by the Distribution Fund Administrator and approved by the Court in connection with and incidental to the performance of his duties. Such fees, costs, and expenses cover any persons or entities engaged to assist him.
By electronic mail (e-mail) dated April 27, 2005, the Distribution Fund Administrator informed the parties regarding the cost of the Notice and Advertising Campaign associated with the distribution of funds from the "Global Research Analyst Settlement Distribution Fund Plan" ("Plan"). The parties were invited to comment by May 2, 2005. No party has expressed any comment or objection to the Court.
This Court has reviewed the submissions independently and hereby approves those costs and expenses totaling $1,850,000.00. Those obligations are to be shared among the defendant investment banks in proportion to the federal payments each of them made in the related actions. Accordingly, Defendant investment banks shall pay a total of $1,850,000.00 to the Distribution Fund Administrator, allocated as follows:
Named Institution Proportion of Total Fees Amount to be Paid Expenses Citigroup 36.39% $ 673,310.23 Credit Suisse First Boston 17.33% $ 320,623.92 Bear Stearns 5.78% $ 106,874.64 Goldman Sachs 5.78% $ 106,874.64 JP Morgan 5.78% $ 106,874.64 Lehman Brothers 5.78% $ 106,874.64 Morgan Stanley 5.78% $ 106,874.64 UBS Securities 5.78% $ 106,874.64 US Bancorp Piper Jaffray 2.89% $ 53,437.32 Merrill Lynch 0.92% $ 17,099.94 Deutsche Bank Securities 6.64% $ 122,905.83 Thomas Weisel Partners 1.15% $ 21,374.93 Total To Be Paid $1,850,000.00 _____________
Defendant investment banks are directed to tender payment by May 6, 2005 either by regular check to:
DFP Services Expenses Francis McGovern, Administrator David Boxer, DFP Accountant Weiser LLP 135 West 50th Street New York, NY 10020-1299
or, by electronic funds transfer to:
Commerce Bank, N.A. (Comm BK Marlton) Cherry Hill, NJ ABA #: 026013673 Credit to: DFP Services Expenses Account # 7916789485.
The Clerk is directed to file copies of this Order in all the captioned actions.
SO ORDERED.