Declaration of Sharan Nirmul ISO Plaintiffs' Motion for Final Approval

Declaration of Sharan Nirmul ISO Plaintiffs' Motion for Final Approval

Case 1:15-cv-09185-CM-KNF Document 154 Filed 05/24/19 Page 1 of 61 81,7('67$7(6',675,&7&2857 )257+(6287+(51',675,&72)1(:<25. %(1-$0,10,&+$(/0(55<0$1$0< &LYLO$FWLRQ1RFY&0.1) :+,7$.(50(55<0$175867$1'% 0(55<0$1$1'$0(55<0$17+ *(1(5$7,215(0$,1'(575867 LQGLYLGXDOO\DQGRQEHKDOIRIDOORWKHUV VLPLODUO\VLWXDWHG 3ODLQWLIIV Y &,7,*5283,1&&,7,%$1.1$DQG &,7,*5283*/2%$/0$5.(76,1& 'HIHQGDQWV '(&/$5$7,212)6+$5$11,508/,168332572) , 3/$,17,))6¶027,21 )25),1$/$33529$/2)352326('&/$66$&7,216(77/(0(17$1'3/$1 2)$//2&$7,21$1' ,, /($'&2816(/¶6027,21)25$1$:$5'2) $77251(<6¶)((6$1'5(,0%856(0(172)/,7,*$7,21(;3(16(6 Case 1:15-cv-09185-CM-KNF Document 154 Filed 05/24/19 Page 2 of 61 7$%/(2)&217(176 3DJH , 35(/,0,1$5<67$7(0(17 ,, %$&.*5281'2)7+(/,7,*$7,21 $ 6XPPDU\RIWKH&ODLPV$VVHUWHG$JDLQVW&LWLLQWKH/LWLJDWLRQ % 5HOHYDQW3URFHGXUDO+LVWRU\ ,QYHVWLJDWLRQDQG&RPPHQFHPHQWRIWKH/LWLJDWLRQ &LWL¶V0RWLRQWR'LVPLVV 7KH&RXUW¶V5XOLQJRQ'HIHQGDQW¶V0RWLRQWR'LVPLVVDQG 'HIHQGDQW¶V$QVZHU &LWL¶V0RWLRQWR&HUWLI\WKH07'2UGHUIRU,QWHUORFXWRU\ $SSHDODQG6WD\'LVFRYHU\ 3URWHFWLYH2UGHUDQG$PHQGHG6FKHGXOLQJ2UGHU & 7KH3DUWLHV¶([WHQVLYH'LVFRYHU\(IIRUWV ' 1DPHG3ODLQWLIIV¶'LVFRYHU\3URSRXQGHGRQ'HIHQGDQW 1DPHG3ODLQWLIIV¶'RFXPHQW5HTXHVWV 7KH3DUWLHV¶1HJRWLDWLRQV5HJDUGLQJ(IILFLHQW'RFXPHQW 'LVFRYHU\ 0RWLRQWR&RPSHO'RFXPHQWV ,PSOHPHQWDWLRQRI5HYLHZ3URWRFRO 'HSRVLWLRQV :ULWWHQ'LVFRYHU\ 1DPHG3ODLQWLIIV¶'LVFRYHU\3URSRXQGHGRQ1RQ3DUWLHV ( 'HIHQGDQW¶V'LVFRYHU\3URSRXQGHGRQ1DPHG3ODLQWLIIV ) 3ODLQWLIIV¶6LJQLILFDQW:RUNZLWK([SHUWV * 0RWLRQ3UDFWLFH 1DPHG3ODLQWLIIV¶0RWLRQIRU&ODVV&HUWLILFDWLRQ &LWL¶V0RWLRQWR([FOXGH3URIHVVRU%URZQ¶V([SHUW 2SLQLRQV 1DPHG3ODLQWLIIV¶0RWLRQWR3UHFOXGH &KHVWHU&RXQW\(PSOR\HHV5HWLUHPHQW)XQGDQG6WHSKHQ +LOGUHWK¶V0RWLRQWR,QWHUYHQH $QWLFLSDWHG0RWLRQVIRU6XPPDU\-XGJPHQW ,,, 6800$5<2)3/$,17,))6¶:25.$6&/$66 5(35(6(17$7,9(6 ,9 7+(5,6.62)&217,18('/,7,*$7,21 L Case 1:15-cv-09185-CM-KNF Document 154 Filed 05/24/19 Page 3 of 61 $ 5LVNVRI3URYLQJ)UDXGXOHQW&RQFHDOPHQW % 5LVNVRI(VWDEOLVKLQJ/LDELOLW\ & 5LVNV&RQFHUQLQJ'DPDJHV ' 5LVNVRI0RWLRQWR,QWHUYHQH 9 6(77/(0(17',6&866,2160(',$7,211(*27,$7,212) 6(77/(0(17'2&80(176$1'6&+('8/,1*2)),1$/ $33529$/+($5,1* 9, 7+(3/$12)$//2&$7,21,6)$,5$1'$'(48$7( 9,, /($'&2816(/¶6&203/,$1&(:,7+7+(&2857¶6 35(/,0,1$5<$33529$/25'(5$1'127,&(02',),&$7,21 25'(5$1'7+(&/$66¶65($&7,2172'$7( 9,,, /($'&2816(/¶6)(($1'(;3(16($33/,&$7,21 $ /HDG&RXQVHO¶V)HH5HTXHVW,V)DLUDQG5HDVRQDEOHDQG:DUUDQWV $SSURYDO 7KH5LVNVRI/LWLJDWLRQDQGWKH1HHGWR(QVXUHWKH $YDLODELOLW\RI&RPSHWHQW&RXQVHOLQ+LJK5LVN &RQWLQJHQW/LWLJDWLRQ 7KH:RUNRI3ODLQWLIIV¶&RXQVHODQGWKH/RGHVWDU&URVV &KHFN 7KH4XDOLW\RI/HDG&RXQVHO¶V5HSUHVHQWDWLRQ % /HDG&RXQVHO¶V5HTXHVWIRU/LWLJDWLRQ([SHQVHV:DUUDQWV $SSURYDO /HDG&RXQVHO6HHN3D\PHQWRI,WV5HDVRQDEOHDQG 1HFHVVDU\/LWLJDWLRQ([SHQVHVIURPWKH6HWWOHPHQW)XQG 6HUYLFH$ZDUGVWR3ODLQWLIIV$UH)DLUDQG5HDVRQDEOH ,; &21&/86,21 LL Case 1:15-cv-09185-CM-KNF Document 154 Filed 05/24/19 Page 4 of 61 ,6+$5$11,508/GHFODUHDVIROORZVSXUVXDQWWR86& ,DPDSDUWQHURIWKHODZILUPRI.HVVOHU7RSD]0HOW]HU &KHFN//3 ³.HVVOHU 7RSD]´ .HVVOHU7RSD]ZDVGHVLJQDWHGE\WKH&RXUWDV,QWHULP/HDG&RXQVHO KHUHLQUHIHUUHGWR DV³/HDG&RXQVHO´ LQWKHDERYHFDSWLRQHGFODVVDFWLRQ WKH³/LWLJDWLRQ´ DQGUHSUHVHQWV%HQMDPLQ 0LFKDHO 0HUU\PDQ $P\ :KLWDNHU 0HUU\PDQ 7UXVW DQG % 0HUU\PDQ DQG $ 0HUU\PDQ WK *HQHUDWLRQ 5HPDLQGHU 7UXVW FROOHFWLYHO\ ³1DPHG 3ODLQWLIIV´ DV ZHOO DV &KHVWHU &RXQW\ (PSOR\HHV5HWLUHPHQW)XQGDQG6WHSKHQ+LOGUHWK ³3URSRVHG,QWHUYHQRUV´DQGWRJHWKHUZLWK 1DPHG3ODLQWLIIV³3ODLQWLIIV´ ,KDYHSHUVRQDONQRZOHGJHRIWKHPDWWHUVVHWIRUWKKHUHLQEDVHG RQP\DFWLYHVXSHUYLVLRQRIDQGSDUWLFLSDWLRQLQWKHSURVHFXWLRQDQGUHVROXWLRQRIWKH/LWLJDWLRQ ,UHVSHFWIXOO\VXEPLWWKLV'HFODUDWLRQLQVXSSRUWRI3ODLQWLIIV¶PRWLRQSXUVXDQWWR 5XOH H RIWKH)HGHUDO5XOHVRI&LYLO3URFHGXUH WKH³)HGHUDO5XOHV´ IRUILQDODSSURYDORIWKH SURSRVHG VHWWOHPHQW WKH ³6HWWOHPHQW´ ZLWK &LWLEDQN 1$ ³'HIHQGDQW´ ³&LWL´ RU WKH ³'HSRVLWDU\´ 7KH 6HWWOHPHQW ZLOO UHVROYH DOO FODLPV DVVHUWHG LQ WKH /LWLJDWLRQ DJDLQVW WKH 'HIHQGDQWRQEHKDOIRIWKH&ODVVFRQVLVWLQJRIDOOSHUVRQVRUHQWLWLHV ZKRUHFHLYHGFDVK GLVWULEXWLRQVIURPWKH'HSRVLWDU\VSRQVRUHG$PHULFDQ'HSRVLWDU\5HFHLSWV ³$'5V´ OLVWHGLQ $SSHQGL[WRWKH6WLSXODWLRQIURP-DQXDU\WR6HSWHPEHULQFOXVLYHDQGZKRZHUH GDPDJHGWKHUHE\ WKH³'DPDJHV&ODVV´ DQGRU ZKRFXUUHQWO\RZQWKH'HSRVLWDU\VSRQVRUHG $'5VOLVWHGLQ$SSHQGL[WRWKH6WLSXODWLRQ WKH³&XUUHQW+ROGHU&ODVV´DQGWRJHWKHUZLWKWKH 'DPDJHV&ODVVWKH³&ODVV´ 7KH&RXUWSUHOLPLQDULO\DSSURYHGWKH6HWWOHPHQWDQGGLUHFWHGQRWLFH $OO FDSLWDOL]HG WHUPV WKDW DUH QRW GHILQHG LQ WKLV 'HFODUDWLRQ VKDOO KDYH WKH PHDQLQJV DVFULEHG WR WKHP LQ WKH 6WLSXODWLRQ DQG $JUHHPHQW RI 6HWWOHPHQW GDWHG $XJXVW ³6WLSXODWLRQ´ (&)1R 3ODLQWLIIVDQG&LWLEDQN1$DUHVRPHWLPHVFROOHFWLYHO\UHIHUUHGWRKHUHLQDVWKH³3DUWLHV´ &HUWDLQ SHUVRQV DQG HQWLWLHV DUH H[FOXGHG IURP WKH &ODVV DV SURYLGHG LQ K RI WKH 6WLSXODWLRQ Case 1:15-cv-09185-CM-KNF Document 154 Filed 05/24/19 Page 5 of 61 RIWKH6HWWOHPHQWWRWKH&ODVVE\2UGHUHQWHUHG6HSWHPEHU WKH³3UHOLPLQDU\$SSURYDO 2UGHU´ (&)1R7KHUHDIWHUWKH&RXUWRQ)HEUXDU\HQWHUHGDQ2UGHUDSSURYLQJ FHUWDLQPRGLILFDWLRQVWRWKHQRWLFHSODQDQGVFKHGXOHIRUDSSURYDORIWKH6HWWOHPHQW WKH³1RWLFH 0RGLILFDWLRQ2UGHU´ (&)1R , DOVR UHVSHFWIXOO\ VXEPLW WKLV 'HFODUDWLRQ LQ VXSSRUW RI WKH SURSRVHG SODQ IRU DOORFDWLQJWKHQHWSURFHHGVRIWKH6HWWOHPHQWWRHOLJLEOH'DPDJHV&ODVV0HPEHUV WKH³3ODQRI $OORFDWLRQ´ DQG /HDG &RXQVHO¶V PRWLRQ RQ EHKDOI RI 3ODLQWLIIV¶ &RXQVHO IRU DQ DZDUG RI DWWRUQH\V¶IHHVDQGUHLPEXUVHPHQWRI/LWLJDWLRQ([SHQVHV WKH³)HHDQG([SHQVH$SSOLFDWLRQ´ LQFOXGLQJWKHUHTXHVWVIRU6HUYLFH$ZDUGVWR3ODLQWLIIVIRUWKHLUHIIRUWVLQFRQQHFWLRQZLWKWKH SURVHFXWLRQRIWKH/LWLJDWLRQ )RU WKH UHDVRQV GLVFXVVHG EHORZ DQG LQ WKH DFFRPSDQ\LQJ PHPRUDQGD, UHVSHFWIXOO\VXEPLWWKDW L WKHWHUPVRIWKH6HWWOHPHQWDUHIDLUUHDVRQDEOHDQGDGHTXDWHLQDOO UHVSHFWVDQGVKRXOGEHDSSURYHGE\WKH&RXUW LL WKHSURSRVHG3ODQRI$OORFDWLRQLVIDLUDQG UHDVRQDEOH DQG VKRXOG EH DSSURYHG E\ WKH &RXUW DQG LLL /HDG &RXQVHO¶V )HH DQG ([SHQVH $SSOLFDWLRQLVUHDVRQDEOHDQGVXSSRUWHGE\WKHIDFWVDQGODZDQGVKRXOGEHJUDQWHGLQDOOUHVSHFWV , 35(/,0,1$5<67$7(0(17 )ROORZLQJ WKUHH \HDUV RI KDUGIRXJKW OLWLJDWLRQ DQG PRQWKV RI DUP¶VOHQJWK QHJRWLDWLRQVIDFLOLWDWHGE\DQH[SHULHQFHGQHXWUDO3ODLQWLIIVDQG/HDG&RXQVHOKDYHVXFFHHGHGLQ 5HIHUHQFHVKHUHLQWR³3ODLQWLIIV¶&RXQVHO´LQFOXGHV.HVVOHU7RSD]DORQJZLWKDGGLWLRQDO FRXQVHO*&KDGG0DVRQ(VTRI3UHYRVW6KDII0DVRQ &DUQV3//& IRUPHUO\RI0DVRQ/DZ )LUP3/& DQG$P\&0DUWLQ(VTRI$P\&0DUWLQ3$ IRUPHUO\RI(YHUHWW:DOHVDQG &RPVWRFN ,Q DGGLWLRQ WR WKLV 'HFODUDWLRQ 3ODLQWLIIV DQG /HDG &RXQVHO DUH VXEPLWWLQJ L WKH 0HPRUDQGXP RI /DZ LQ 6XSSRUW RI 3ODLQWLIIV¶ 0RWLRQ IRU )LQDO $SSURYDO RI 3URSRVHG &ODVV $FWLRQ 6HWWOHPHQW DQG 3ODQ RI $OORFDWLRQ WKH ³6HWWOHPHQW 0HPRUDQGXP´ DQG LL WKH 0HPRUDQGXPRI/DZLQ6XSSRUWRI/HDG&RXQVHO¶V0RWLRQIRUDQ$ZDUGRI$WWRUQH\V¶)HHVDQG 5HLPEXUVHPHQWRI/LWLJDWLRQ([SHQVHV WKH³)HH0HPRUDQGXP´ Case 1:15-cv-09185-CM-KNF Document 154 Filed 05/24/19 Page 6 of 61 REWDLQLQJDUHFRYHU\RILQFDVKSOXVYDOXDEOHLQMXQFWLYHUHOLHILQZKLFK&LWLKDVDJUHHG WRFDSLWVFKDUJHVIRUFRQGXFWLQJIRUHLJQH[FKDQJH ³&RQYHUVLRQV´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¶V VXEVHTXHQW PRWLRQ VHHNLQJ SHUPLVVLRQ WR ILOH DQ LQWHUORFXWRU\ DSSHDO RI WKLV &RXUW¶V UXOLQJ RQ LWV PRWLRQ WR GLVPLVV Y HQJDJHGLQH[WHQVLYHGLVFRYHU\HIIRUWVLQFOXGLQJUHYLHZLQJDQGDQDO\]LQJRYHUSDJHVRI GRFXPHQWVSURGXFHGE\&LWLSDUWLFLSDWLQJLQQXPHURXVPHHWDQGFRQIHUVZLWK&LWL¶VFRXQVHOLQDQ HIIRUW WR UHVROYH YDULRXV GLVFRYHU\ GLVSXWHV GHSRVLQJ WHQ IDFW ZLWQHVVHV DQG GHIHQGLQJ WKH GHSRVLWLRQRI1DPHG3ODLQWLIIV YL FRQVXOWHGZLWKDQH[SHUWWRGHYHORSDFODVVZLGHGDPDJHV PHWKRGRORJ\ YLL FRQGXFWHGH[SHUWGLVFRYHU\LQFOXGLQJH[FKDQJLQJH[SHUWUHSRUWVSDUWLFLSDWLQJ LQWKUHHH[SHUWGHSRVLWLRQVDQGIXOO\EULHILQJ&LWL¶VPRWLRQWRH[FOXGH3ODLQWLIIV¶H[SHUW YLLL PRYHGIRUFODVVFHUWLILFDWLRQ L[ IXOO\EULHIHGDPRWLRQWRLQWHUYHQHDQG [ HQJDJHGLQVHYHUDO PRQWKVRIVHWWOHPHQWGLVFXVVLRQVLQFOXGLQJIRUPDOPHGLDWLRQ$VDUHVXOWRIWKHVHHIIRUWV/HDG 7KHFDVKSRUWLRQRIWKH6HWWOHPHQWZDVUHFHLYHGDQGGHSRVLWHGLQWRDQLQWHUHVWEHDULQJ HVFURZDFFRXQWRQ6HSWHPEHU Case 1:15-cv-09185-CM-KNF Document 154 Filed 05/24/19 Page 7 of 61 &RXQVHO KDG D GHHS XQGHUVWDQGLQJ RI WKH VWUHQJWKV DQG ZHDNQHVVHV RI WKH 3DUWLHV¶ UHVSHFWLYH SRVLWLRQVDWWKHWLPHWKH6HWWOHPHQWZDVUHDFKHG ,QGHFLGLQJWRVHWWOHWKH/LWLJDWLRQ3ODLQWLIIVDQG/HDG&RXQVHOFDUHIXOO\FRQVLGHUHG WKHVLJQLILFDQWULVNVDVVRFLDWHGZLWKDGYDQFLQJWKHLUFDVHWKURXJKVXPPDU\MXGJPHQWWULDODQGWKH LQHYLWDEOHSRVWWULDODSSHDOV1RWDEO\DWWKHWLPHWKH6HWWOHPHQWZDVUHDFKHGWKH3DUWLHVZHUH DZDLWLQJWKH&RXUW¶VUXOLQJRQDFULWLFDOPRWLRQ²3URSRVHG,QWHUYHQRUV¶PRWLRQWRLQWHUYHQHLQWKH /LWLJDWLRQ²ZKLFKLIGHQLHGZRXOGKDYHOLPLWHGWKHFDVHWRWKHWKUHH$'5VRZQHGE\1DPHG 3ODLQWLIIV DVOLPLWHGE\WKH&RXUW¶VSULRUFODVVFHUWLILFDWLRQUXOLQJ DQGZRXOGKDYHSUHFOXGHG FODVVZLGHLQMXQFWLYHUHOLHI (YHQLIWKH&RXUWJUDQWHGWKHSHQGLQJPRWLRQDQGWKHWZHQW\RQH$'5VRZQHGE\ 3ODLQWLIIVZHUHLQFOXGHGLQWKH/LWLJDWLRQJRLQJIRUZDUG&LWLZRXOGKDYHFRQWLQXHGWRYLJRURXVO\ FRQWHVW3ODLQWLIIV¶FODLPV7KURXJKRXWWKH/LWLJDWLRQ&LWLVWUHQXRXVO\DUJXHGWKDWLWVSUDFWLFHRI DGGLQJDVSUHDGWR&RQYHUVLRQUDWHVGLGQRWFRQVWLWXWHDEUHDFKRILWVFRQWUDFWXDOREOLJDWLRQVDVWKH FRQWUROOLQJ'HSRVLW$JUHHPHQWVDXWKRUL]HG&LWLWRFKDUJHIRUFRQGXFWLQJVXFK&RQYHUVLRQV,Q DGGLWLRQDVWKH&RXUWLQUXOLQJRQ&LWL¶VPRWLRQWRGLVPLVVGHQLHGZLWKRXWSUHMXGLFHWRUHQHZDOO

View Full Text

Details

  • File Type
    pdf
  • Upload Time
    -
  • Content Languages
    English
  • Upload User
    Anonymous/Not logged-in
  • File Pages
    324 Page
  • File Size
    -

Download

Channel Download Status
Express Download Enable

Copyright

We respect the copyrights and intellectual property rights of all users. All uploaded documents are either original works of the uploader or authorized works of the rightful owners.

  • Not to be reproduced or distributed without explicit permission.
  • Not used for commercial purposes outside of approved use cases.
  • Not used to infringe on the rights of the original creators.
  • If you believe any content infringes your copyright, please contact us immediately.

Support

For help with questions, suggestions, or problems, please contact us