The opinion of the court was delivered by: Hon. Ruben B. Brooks Magistrate Judge of the U.S. District Court
PRELIMINARY APPROVAL ORDER SIMILARLY SITUATED, APPROVING CONDITIONAL CLASS CERTIFICATION, GRANTING CLASS ACTION SETTLEMENT APPROVAL HEARING Hearing Date: March 3, 2008
Judge: Hon. Ruben B. Brooks
This matter coming before the Court on the Parties' joint request for preliminary approval of a Class Settlement Agreement ("Agreement"), between Plaintiffs and Defendant Resurgent Capital Services, LP ("Resurgent"), and the Court being advised of the following premises of the proposed Class Settlement:
A. Plaintiffs and Resurgent have entered into a Class Action Settlement Agreement ("Settlement Agreement"), attached to the Joint Motion as Exhibit 1.
B. The Settlement Agreement is submitted to the Court for approval pursuant to Rule 23(e) of the Federal Rules of Civil Procedure.
C. The definitions and terms set forth in the Settlement Agreement filed with the Court in support of this motion ("Settlement Agreement") are hereby incorporated in this Preliminary Approval Order.
D. Pursuant to the Settlement Agreement, Defendant agrees to certification of a class action as a Rule 23(b)(3) class with class notice by publication to the Class Members as described in the Settlement Agreement.
E. Pursuant to the Settlement Agreement, Resurgent shall provide the following relief to Plaintiffs and the Class:
1. Resurgent shall pay to the San Diego County Legal Aid Society, through Class Counsel, as a cy pres distribution on behalf of the Class the total sum of $48,568.13, which is 1% of Resurgent's net worth, the maximum amount of damages allowed in an FDCPA class action under 15 U.S.C. § 1692k(a)(2)(B).
2. Resurgent shall pay Plaintiffs, through Class Counsel as incentive payments, the amount of $1,250 each (a total of $3,750), for their efforts in litigating this action. Resurgent shall make those payments in the time period as set forth within the Settlement Agreement.
3. Resurgent shall be responsible for, and shall bear the costs of, Class Notice. Resurgent shall also pay $5,000 to Gilardi & Company LLC prior to publication of the Class Notice for administration of the settlement in accordance with an agreement for same entered into between Class Counsel and Gilardi & Company LLC. Gilardi & Company LLC is approved as the settlement administrator to provide a mechanism for responding to inquiries about the settlement as described in the published Class Notice.
4. Pursuant to the Settlement Agreement, and subject to Court approval, Resurgent agrees to pay up to $60,270.91 for attorney's fees and costs to class counsel.
F. Pursuant to the Settlement Agreement, Plaintiffs will dismiss all claims against the Defendant upon the Court's entry of an Order of Final Approval of this ...