The opinion of the court was delivered by: Judge:jacqueline H.NGUYEN
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 Fremont General Corporation and Affiliated Companies Investment Incentive Plan, as amended through Mar. 19, 2007, and the Fremont General Corporation Employee Stock Ownership Plan, effective Jan. 1, 2000 (the "Plans").*fn1
This matter came before the Court for a hearing on August 8, 2011, pursuant to the Order of this Court entered on April 26, 2011, on the application of the Parties for approval of the Settlement set forth in the Stipulation and Agreement of Settlement -- ERISA Class Action (the "Settlement Agreement"), executed on March 22, 2011, and filed with the Court on March 23, 2011. The Court has received declarations attesting to the mailing of the Notice and publication of the Summary Notice in accordance with the Order for Notice and Hearing.
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. The Class is certified as a non-opt-out class under Fed. R. Civ. P. 23(b)(1)(B) for settlement purposes only.
3. On June 9, 2011, 5,093 copies of the Notice were mailed to Class Members.
4. On June 9, 2011, a copy of the Summary Notice was electronically published on the Business Wire in accordance with the Settlement Agreement and the Court's Order for Notice and Hearing.
5. In accordance with the Court's Order for Notice and Hearing, the Notice and Settlement Agreement were posted on www.FremontERISASettlement.com.
6. The Notice and the Summary 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.
7. The Notice and Summary 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 requirements of due process.
8. The Action and all claims contained therein, as well as all of the Released Claims, are dismissed with prejudice as to the Named Plaintiffs, the Class Members, and the Plans, and as against the Released Parties. The Parties are to bear their own costs, except as otherwise provided in the Settlement Agreement.
9. 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.
10. The Named Plaintiffs, on behalf of themselves, the Plans and the Class, are deemed to have, and by operation of this Order and Judgment shall have, absolutely and unconditionally released and forever ...