The proposed Settlement Agreement provides a cash “Settlement Fund” of $10,500,000 in cash to pay Class Members. This fund will also be used to pay any service award, attorneys’ fees and costs, and costs to administer the settlement. The Net Settlement Amount (after deduction of any court-approved attorneys’ fees and costs, administrative expenses, and service award to the class representative) will be allocated to valid claims submitted by Class Members according to the proposed Settlement Agreement to be approved by the Court.
The attorneys’ fees and costs, settlement administration costs, and other relevant costs will be paid from the cash Settlement Fund. The remainder of the cash Settlement Fund will be used to pay valid claims.
More details on the settlement are available in the Settlement Agreement, which is available here.