Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

IN RE TITAN

December 19, 2005.

In re TITAN, INC. SECURITIES LITIGATION. This Document Relates To: ALL ACTIONS.


The opinion of the court was delivered by: LARRY BURNS, Judge

CLASS ACTION

[PROPOSED] FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE
This matter came before the Court for hearing on December 19, 2005, pursuant to an Order of this Court, filed September 27, 2005, on the application of the Settling Parties for approval of the settlement set forth in the Stipulation of Settlement dated as of July 22, 2005 (the "Stipulation"). Due and adequate notice having been given of the settlement as required in said Order, and the Court having considered all papers filed and proceedings held herein and otherwise being fully informed in the premises and good cause appearing therefore, as fully recited on the record, IT IS HEREBY ORDERED, ADJUDGED AND DECREED that:

  1. This Judgment incorporates by reference the definitions in the Stipulation, and all terms used herein shall have the same meanings set forth in the Stipulation.

  2. This Court has jurisdiction over the subject matter of the Litigation and over all parties to the Litigation, including all Members of the Settlement Class.

  3. Except as to any individual claim of those Persons (identified in Exhibit 1 attached hereto) who have validly and timely requested exclusion from the Settlement Class, the Litigation and all claims contained therein, including all of the Released Claims, are dismissed with prejudice as to the Members of the Settlement Class, and as against each and all of the Released Parties. The parties are to bear their own costs, except as otherwise provided in the Stipulation.

  4. Pursuant to Rule 23 of the Federal Rules of Civil Procedure, this Court hereby approves the settlement set forth in the Stipulation and finds that said settlement is, in all respects, fair, reasonable and adequate to, and is in the best interests of, the Plaintiffs, the Settlement Class and each of the Settlement Class Members. This Court further finds the settlement set forth in the Stipulation is the result of arm's-length negotiations between experienced counsel representing the interests of the Plaintiffs, the Settlement Class Members and the Defendants. Accordingly, the settlement embodied in the Stipulation is hereby approved in all respects and shall be consummated in accordance with its terms and provisions. The Settling Parties are hereby directed to perform the terms of the Stipulation.

  5. Pursuant to Rule 23 of the Federal Rules of Civil Procedure, the Court finally certifies, for purposes of effectuating this settlement, a Settlement Class of all members of the Securities Class (defined below) and the Holder Class (defined below). Excluded from the Settlement Class are Defendants, members of the immediate families of the Individual Defendants, any entity in which any Defendant has or had a controlling interest, current or former directors and officers of Titan, and the legal representatives, heirs, successors, or assigns of any such excluded Person or entity. Also excluded from the Settlement Class are those Persons who timely and validly requested exclusion from the Settlement Class pursuant to the Notice of Pendency and Proposed Settlement of Class Actions. The Securities Class is defined as all Persons who purchased Titan securities between July 24, 2003 and June 25, 2004, inclusive. The Holder Class is defined as all Persons who held the common stock of Titan at any time from August 3, 1999 through and including July 23, 2003, and continued to hold such stock on June 26, 2004.

  6. With respect to the Settlement Class, this Court finds for purposes of effectuating this settlement that (a) the Members of the Settlement Class are so numerous that joinder of all Settlement Class Members in the Litigation is impracticable; (b) there are questions of law and fact common to the Settlement Class which predominate over any individual questions; (c) the claims of the Lead Plaintiff and the Holder Plaintiffs are typical of the claims of the Securities Class and Holder Class, respectively; (d) the Lead Plaintiff and Plaintiffs' Co-Lead Counsel have fairly and adequately represented and protected the interests of all members of the Securities Class and the Holder Plaintiffs and Holder Counsel have fairly and adequately represented and protected the interests of all members of the Holder Class; and (e) a class action is superior to other available methods for the fair and efficient adjudication of the controversy, considering: (i) the interests of the Members of the Settlement Class in individually controlling the prosecution of the separate actions; (ii) the extent and nature of any litigation concerning the controversy already commenced by Members of the Settlement Class; (iii) the desirability or undesirability of continuing the litigation of these claims in this particular forum; and (iv) the difficulties likely to be encountered in the management of the Litigation.

  7. Pursuant to Rule 23 of the Federal Rules of Civil Procedure, and for the purposes of the settlement only, Israel Shurkin is certified as the Class Representative for the Securities Class, and Paul Berger is certified as the Class Representative for the Holder Class. This class certification shall automatically dissolve without further prejudice to the right of any party to seek or oppose class certification if entry of this Final Judgment is reversed or materially modified on appeal.

  8. Upon the Effective Date, the Plaintiffs and each of the Settlement Class Members shall be deemed to have, and by operation of the Judgment shall have, fully, finally, and forever released, relinquished and discharged all Released Claims against the Released Parties, whether or not such Settlement Class Member executes and delivers a Proof of Claim and Release form.

  9. All Settlement Class Members are hereby forever barred and enjoined from prosecuting the Released Claims against the Released Parties.

  10. Upon the Effective Date, each of the Released Parties shall be deemed to have, and by operation of the Judgment shall have, fully, finally, and forever released, relinquished and discharged each and all of the Settlement Class Members and Plaintiffs' Counsel from all claims (including Unknown Claims) arising out of, relating to, or in connection with the institution, prosecution, assertion, settlement or resolution of the Litigation and the Released Claims.

  11. The distribution of the Notice of Pendency and Proposed Settlement of Class Actions and the publication of the Summary Notice as provided for in the Order Preliminarily Approving Settlement and Providing for Notice constituted the best notice practicable under the circumstances, including individual notice to all Members of the Settlement Class who could be identified through reasonable effort. Said Notice provided the best notice practicable under the circumstances of those proceedings and of the matters set forth therein, including the proposed settlement set forth in the Stipulation, to all Persons entitled to such notice, and said Notice fully satisfied the requirements of Federal Rule of Civil Procedure 23, the requirements of due process, and any other applicable law.

  12. Any order regarding the Plan of Allocation submitted by Plaintiffs' Counsel and any order entered regarding the attorneys' fee and expense application shall in no way disturb or affect this Final Judgment ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.