The opinion of the court was delivered by: Hon. Ronald S.W. Lew Senior, U.S. District Court Judge
This Document Relates To: ALL ACTIONS
FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE REGARDING CENDANT CORPORATION AND RICHARD A. SMITH
Date: March 16, 2009 Time: 10:00 a.m.
Judge: Hon. Ronald S.W. Lew
Courtroom:21, 312 North Spring St. Los Angeles, CA 90012
This matter has come before the Court to determine whether there is any cause why this Court should not approve the Settlement ("Settlement") set forth in the Stipulation of Settlement and Settlement Agreement with Cendant Corporation (now known as Avis Budget, Inc.) ("Cendant") and Richard A. Smith ("Smith") dated as of October 2, 2008 ("Stipulation") relating to the above captioned litigation. The Court, after carefully considering all papers filed and proceedings held herein and otherwise being fully informed in the premises, has determined (1) that the Settlement should be approved and (2) that there is no just reason for delay of the entry of this Final Judgment approving this settlement. Accordingly, the Court directs entry of Judgment, which shall constitute final adjudication of this Litigation on the merits as to the parties to the Settlement. Good cause appearing therefore, it is hereby:
ORDERED, ADJUDGED AND DECREED THAT:
1. This Court has jurisdiction over the subject matter of this litigation, all parties to this litigation, and over the parties to the Stipulation, including all members of the Class, Cendant, Smith and the other Released Cendant Parties.
2. The definitions and terms set forth in the Stipulation are incorporated hereby as though fully set forth in this Judgment.
3. The Court hereby finally approves and confirms the Settlement set forth in the Stipulation and finds that said Settlement is, in all respects, fair, reasonable and adequate to the Class pursuant to Rule 23 of the Federal Rules of Civil Procedure. The Court finds that the Settlement was negotiated at arm's length and in good faith and that the parties complied with the requirements of Rule 11.
4. This Court hereby dismisses on the merits and with prejudice the Action in favor of Cendant and Smith, with Cendant and Smith to bear their own costs and attorneys' fees.
5. The Released Cendant Parties (as defined in the Stipulation) are hereby and forever released and discharged with respect to any and all claims or causes of action that the Lead Plaintiff and Members of the Class had or have arising out of or related to any of the Settled Claims as defined in the Stipulation.
6. The Court has considered and approves the Bar Order language proposed in the Stipulation as follows:
a. All claims for contribution and indemnification, however denominated, against any of the Released Cendant Parties arising under the federal securities laws, state law or common law with respect to the events that are the subject of the Action, in favor of persons, including but not limited to Defendant Wolff, the Other Settling Defendants or any Person that was ever named as a Defendant in this Action, who are alleged to be responsible for or jointly responsible with Released Cendant Parties in any manner in the Settled Claims and based upon liability for, ...