Free Order on Motion for Disbursement of Funds - District Court of Colorado - Colorado

Case 1:00-cv-01864-REB-BNB

Document 233

Filed 06/23/2008

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IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO Judge Robert E. Blackburn

Civil Action No. 00-cv-1864-REB-BNB (Consolidated with 00-cv-1908-REB-BNB, 00-cv-1910-REB-BNB, 00-cv-1919-REB-BNB, 00-cv-1945-REB-BNB, 00-cv-1954-REB-BNB, 00-cv-1957-REB-BNB, 00-cv-1963-REB-BNB, 00-cv-1996-REB-BNB, 00-cv-2040-REB-BNB, 00-cv-2074-REB-BNB, 00-cv-2149-REB-BNB, 00-cv-2243-REB-BNB, and 00-cv-2316-REB-BNB) In re ICG COMMUNICATIONS, INC. SECURITIES LITIGATION

CLASS DISTRIBUTION ORDER Blackburn, J. This matter is before me on Lead Plaintiffs' Unopposed Motion for Distribution of the Net Settlement Fund [#229], filed October 10, 2007. The motion is granted. Under paragraphs 16-18 of the parties' Stipulation and Agreement of Settlement [#208], filed July 20, 2006, and on notice to defendants' counsel, the lead plaintiffs have moved this court for the distribution of the Net Settlement Fund. I have considered all of the materials and arguments submitted in support of this motion, including Lead Plaintiffs' Unopposed Motion for Distribution of the Net Settlement Fund and the Affidavit of Anya Verkhovskaya [#230] (the "Verkhovskaya Affidavit"), filed October 10, 2007. The Lead Plaintiffs have shown good cause for the entry of this Class Distribution Order. THEREFORE, IT IS ORDERED as follows: 1. That the administrative recommendation to accept 1,237 claims, as set forth in paragraph 26 to the Verkhovskaya Affidavit, are approved, adopted, and incorporated,

Case 1:00-cv-01864-REB-BNB

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Filed 06/23/2008

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and Plaintiffs' Lead Counsel are authorized to direct distribution of the Net Settlement Fund to the Authorized Claimants set forth therein; 2. That the wholly ineligible or otherwise deficient claims, as set forth in paragraph 27 to the Verkhovskaya Affidavit, are rejected; 3. That the Notice and Administration Costs incurred by the claims administrator, A.B. Data Ltd. ("A.B. Data") in the amount of $151,133.54 are approved, and Lead Counsel are directed to pay $15,553.08 out of the Net Settlement Fund to A.B. Data, for the balance of its fees and expenses in connection with the administration of the Settlement, and fees for the distribution of the Net Settlement Fund and estimated postage for such distribution as set forth in paragraph 33 of the Verkhovskaya Affidavit; 4. That A.B. Data shall distribute 100 percent of the available balance (after deducting estimated taxes and the costs of preparing appropriate final tax returns) of the Net Settlement Fund to the Authorized Claimants, as set forth in the Verkhovskaya Affidavit, in proportion to their Recognized Claim amounts; 5. That no claim received after the entry of this Class Distribution Order may be accepted or allowed; 6. That in the event that not all of the distribution checks are cashed within one year of issuance, Lead Plaintiffs shall undertake a reasonable redistribution at that time, to the extent that such redistribution is cost-effective after payment of any unpaid costs or fees to be incurred in connection with such re-distribution, only to those Authorized Claimants who by that time have cashed their distribution checks and who would receive at least $10.00 from such re-distribution, and, further, that Lead Plaintiffs shall continue to conduct redistributions every six months thereafter, so long as such 2

Case 1:00-cv-01864-REB-BNB

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redistributions are cost-effective, only to those Claimants who have cashed their checks and who would receive at least $10.00 from such redistributions; 7. Thar should a balance remain in the Net Settlement Fund that Lead Plaintiffs believe is insufficient to redistribute cost-effectively, Lead Plaintiffs shall donate such funds to non-sectarian, not-for-profit, 501(c)(3) organization(s) designated by Lead Counsel; 8. That the court finds that the administration of the Settlement and the proposed distribution of the Net Settlement Fund comply with the terms of the Stipulations and the Plan of Allocation, and that all persons involved in the review, verification, calculation, tabulation, or any other aspect of the processing of the claims submitted herein, or otherwise involved in the administration or taxation of the Settlement Fund or the Net Settlement Fund, are released and discharged from any and all claims arising out of such involvement, and all Class Members, whether or not they received or are to receive payment from the Net Settlement Fund, are barred from making any further claims against the Net Settlement Fund or Lead Plaintiffs, Counsel for Lead Plaintiffs, the Claims Administrator, the escrow agent or any other agent retained by Lead Plaintiffs or Lead Counsel in connection with the administration of the Settlement beyond the amount allocated to such Class Members pursuant to this Order; 9. That A.B. Data is authorized to destroy the paper copies of the Claim Forms one year after the distribution of the Net Settlement Fund, and to destroy electronic copies of claim records three years after the distribution of the Net Settlement Fund; and

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Case 1:00-cv-01864-REB-BNB

Document 233

Filed 06/23/2008

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10. That the court retains jurisdiction to consider any further applications concerning the administration of the settlement and such other and further relief as this Court deems appropriate. Dated June 23, 2008, at Denver, Colorado. BY THE COURT: s/ Robert E. Blackburn Robert E. Blackburn United States District Judge

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