From Doc 85 - The Proposed Settlement is compri
Post# of 43066
Posted On: 07/25/2014 1:57:10 PM
From Doc 85 -
The Proposed Settlement is comprised of both stock and cash. As of July 10, 2014, the stock component of the Settlement Fund has a value of $415,423. Moreover, JBI has agreed to pay up to $200,000 in total for the claims administration of the Proposed Settlement and to reimburse Lead Counsel for certain expenses related to the mediations in this actions. Lead Counsel will seek an award of 25% of the stock component of the Settlement Fund ($103,855) and reimbursement of up to $35,437 in expenses. If these requests are granted, Lead Counsel will be awarded $139,292, which is 22.6% of the total Settlement Fund value of $615,423. As discussed below, the fee and expense request, which is less than the 25% benchmark set by the Ninth Circuit, is fair and reasonable under applicable legal standards.
courtesy of the tard
From Case 3:11-cv-00545-RCJ-WGC Document 86-7 Filed 07/24/14
JBI, Inc. Securities Litigation
Summary of Damages and Settlement Recovery Under Proposed Allocation
Calculation
(1) Number of Shares Purchased and Damaged: 8,693,847
(2) Total Damages Based on Plan of Allocation: $7,491,115
(3) Average Compensable Damage per Share: $0.862 (2) / (1)
(4) Settlement Amount: $615,423
(5) Settlement Amount as % of Damages: 8.21% (4) / (2)
(6) Average Settlement Recovery per Share: $0.071 (5) x (3)
(7) Attorney’s Fees and Expenses: $0.016 (25% x $415,423) + $35,437 /(1)
(
Average Recovery per share after Attorney’s Fees and Expenses: $0.055 (6) - (7)
Notes:
(4)
Calculation of Settlement Amount @ 07/10/2014:
$415,423 (04/11/2014 – 07/10/2014 Average Closing Price $0.13847 x 3,000,000 shares)
$35,437 Proposed Amount of Reimbursement of Litigation Expenses
+ $164,563 Settlement Administration Cost Provision
= $615,423 Total Value Of Settlement
(7)
Attorney’s Fees and Expenses include $35,437 reimbursement for expenses incurred during litigation.
(
This amount does not include the costs of claims administration.
=====
what an effin' racket >>> but clearly *rackets* make the world go round
The Proposed Settlement is comprised of both stock and cash. As of July 10, 2014, the stock component of the Settlement Fund has a value of $415,423. Moreover, JBI has agreed to pay up to $200,000 in total for the claims administration of the Proposed Settlement and to reimburse Lead Counsel for certain expenses related to the mediations in this actions. Lead Counsel will seek an award of 25% of the stock component of the Settlement Fund ($103,855) and reimbursement of up to $35,437 in expenses. If these requests are granted, Lead Counsel will be awarded $139,292, which is 22.6% of the total Settlement Fund value of $615,423. As discussed below, the fee and expense request, which is less than the 25% benchmark set by the Ninth Circuit, is fair and reasonable under applicable legal standards.
courtesy of the tard
From Case 3:11-cv-00545-RCJ-WGC Document 86-7 Filed 07/24/14
JBI, Inc. Securities Litigation
Summary of Damages and Settlement Recovery Under Proposed Allocation
Calculation
(1) Number of Shares Purchased and Damaged: 8,693,847
(2) Total Damages Based on Plan of Allocation: $7,491,115
(3) Average Compensable Damage per Share: $0.862 (2) / (1)
(4) Settlement Amount: $615,423
(5) Settlement Amount as % of Damages: 8.21% (4) / (2)
(6) Average Settlement Recovery per Share: $0.071 (5) x (3)
(7) Attorney’s Fees and Expenses: $0.016 (25% x $415,423) + $35,437 /(1)
(
Average Recovery per share after Attorney’s Fees and Expenses: $0.055 (6) - (7) Notes:
(4)
Calculation of Settlement Amount @ 07/10/2014:
$415,423 (04/11/2014 – 07/10/2014 Average Closing Price $0.13847 x 3,000,000 shares)
$35,437 Proposed Amount of Reimbursement of Litigation Expenses
+ $164,563 Settlement Administration Cost Provision
= $615,423 Total Value Of Settlement
(7)
Attorney’s Fees and Expenses include $35,437 reimbursement for expenses incurred during litigation.
(
This amount does not include the costs of claims administration.
=====
what an effin' racket >>> but clearly *rackets* make the world go round
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