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Alvidres v. Countrywide Financial Corp.

November 16, 2009

VINCENT ALVIDRES, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED, PLAINTIFF,
v.
COUNTRYWIDE FINANCIAL CORPORATION, ET. AL., DEFENDANTS.



The opinion of the court was delivered by: Judge: Hon. John F. Walter

FINAL ORDER AND JUDGMENT

[PROPOSED] FINAL ORDER AND JUDGMENT

This Action involves claims for alleged violations of the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. §§ 1001, et seq. ("ERISA"), with respect to the Countrywide Financial Corporation 401(k) Savings and Investment Plan as amended and restated effective December 31, 2008, and any successor plans and trusts created under the foregoing plans (the "Plan").*fn1

This matter came before the Court for a hearing pursuant to the Order of this Court entered on September 1, 2009, on the application of the Parties for approval of the Settlement set forth in the Stipulation and Agreement of Settlement (the "Settlement Agreement"), executed on August 5, 2009 and filed with the Court on August 5, 2009. The Court has received declarations attesting to the mailing of the Notice and publication of the Publication Notice in accordance with the Preliminary Approval Order.

Due and adequate notice having been given to the Class as required in said Order, and the Court having considered all papers filed and proceedings had herein and otherwise being fully informed in the premises and good cause appearing therefore, IT IS HEREBY ORDERED, ADJUDGED AND DECREED as follows:

1. This Court has jurisdiction over the subject matter of this Action and over all Parties to the Action, including all members of the Class.

2. On September 23, 2009, 47,272 copies of the Notice were mailed to Class members.

3. On September 24, 2009, a copy of the Publication Notice was published in USA Today in accordance with the Settlement Agreement and the Court's Preliminary Approval Order.

4. In accordance with the Court's Preliminary Approval Order, the Notice and Settlement Agreement were posted on www.Countrywide401(k)Settlement.com.

5. The Notice and the Publication Notice fully informed Class members of their rights with respect to the Settlement, including the right to object to the Settlement or the application for an award of attorneys' fees and reimbursement of expenses.

6. The Notice and Publication Notice collectively met the statutory requirements of notice under the circumstances, including the individual notice to all members of the Class who could be identified through reasonable effort, and fully satisfied the requirements of Federal Rule of Civil Procedure 23 and the requirement of due process.

7. The Action and all claims contained therein, as well as all of the Settled Claims, are dismissed with prejudice as to the Named Plaintiff, the Class members, and the Plan, and as against the Released Parties. The Parties are to bear their own costs, except as otherwise provided in the Settlement Agreement.

8. The Court finds that the Settlement is fair, just, reasonable, and adequate as to each member of the Class, and that the Settlement Agreement, and the Settlement contained therein, is hereby finally approved in all respects, and the Parties are hereby directed to implement the Settlement in accordance with its terms and conditions.

9. The Named Plaintiff, on behalf of himself, the Plan and the Class, is deemed to have, and by operation of this Order and Judgment shall have, absolutely and unconditionally released and forever ...


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