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Westley v. Oclaro, Inc.

United States District Court, Ninth Circuit, California, N.D. California
Aug 13, 2014
C11-02448-EMC, C11-3176-EMC (N.D. Cal. Aug. 13, 2014)

Opinion

          ROBBINS GELLER RUDMAN & DOWD LLP, SHAWN A. WILLIAMS, SUNNY S. SARKIS, San Francisco, CA,

          JEFFREY D. LIGHT, JULIE A. KEARNS, San Diego, CA, Lead Counsel for Plaintiffs.

          HOLZER HOLZER & FISTEL, LLC, MICHAEL I. FISTEL, JR., Atlanta, GA, DYER & BERENS LLP, ROBERT J. DYER III, JEFFREY A. BERENS, Denver, CO, Additional Counsel for Plaintiff


          ORDER APPROVING PLAN OF ALLOCATION OF SETTLEMENT PROCEEDS AND OVERRULING OBJECTIONS

          EDWARD M. CHEN, District Judge.

         THIS MATTER having come before the Court on Lead Plaintiff's application for approval of the Plan of Allocation of the net settlement proceeds in the above-captioned action; the Court having considered all papers filed and proceedings had herein and otherwise being fully informed in the premises;

         IT IS HEREBY ORDERED, ADJUDGED AND DECREED that:

         1. For purposes of this Order, the terms used herein shall have the same meanings as set forth in the Amended Stipulation of Settlement dated as of April 30, 2014 (the "Stipulation").

         2. Pursuant to and in full compliance with Rule 23 of the Federal Rules of Civil Procedure, this Court hereby finds and concludes that due and adequate notice was directed to all Persons who are Class Members advising them of the Plan of Allocation and of their right to object thereto, and a full and fair opportunity was accorded to all Persons and entities who are Class Members to be heard with respect to the Plan of Allocation.

         3. The Court hereby finds and concludes that the formula for the calculation of the claims of Authorized Claimants which is set forth in the Notice of Proposed Settlement of Class Action (the "Notice") sent to Class Members, provides a fair and reasonable basis upon which to allocate the proceeds of the Net Settlement Fund established by the Stipulation among Class Members, with due consideration having been given to administrative convenience and necessity.

         4. The Court hereby finds and concludes that the Plan of Allocation set forth in the Notice is in all respects fair and reasonable and the Court hereby approves the Plan of Allocation.

         5. The Court has considered the objections filed by Loretta N. Blum and Fred Blum. Purchasers of options are not included in the definition of the class. Correspondingly, the release does not govern claims relating to options purchases. In other words, the Blums' potential claims as options purchasers are not governed by this settlement. The Blums are not class members, and therefore the Blums lack standing to object. The objections are therefore overruled in their entirety.

         IT IS SO ORDERED.


Summaries of

Westley v. Oclaro, Inc.

United States District Court, Ninth Circuit, California, N.D. California
Aug 13, 2014
C11-02448-EMC, C11-3176-EMC (N.D. Cal. Aug. 13, 2014)
Case details for

Westley v. Oclaro, Inc.

Case Details

Full title:CURTIS AND CHARLOTTE WESTLEY, Individually and on Behalf of All Others…

Court:United States District Court, Ninth Circuit, California, N.D. California

Date published: Aug 13, 2014

Citations

C11-02448-EMC, C11-3176-EMC (N.D. Cal. Aug. 13, 2014)