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Jordan v. Paul Financial, LLC

United States District Court, Ninth Circuit

November 20, 2013

GREGORY M. JORDAN, ELI GOLDHABER and JOSEPHINA GOLDHABER individually and on behalf of all others similarly situated, Plaintiffs,
v.
PAUL FINANCIAL, LLC, LUMINENT MORTGAGE CAPITAL, INC., HSBC BANK USA, N.A., AS TRUSTEE OF LUMINENT MORTGAGE TRUST 2006-2, RBS FINANCIAL PRODUCTS INC., and DOES 2 through 10 inclusive, Defendants.

Gerson H. Smoger, (SBN 79196), Steven M. Bronson, (SBN 246751), SMOGER & ASSOCIATES, Oakland, CA.

David M. Arbogast, (SBN 167571), Chumahan B. Bowen, ARBOGAST BOWEN LLP, Los Angeles, CA.

Jeffrey K. Berns, (SBN 131351), BERNS WEISS LLP, Woodland Hills, CA.

Lee A. Weiss, (Admitted Pro Hac Vice), Garden City, NY, Attorneys for Plaintiffs and the RBS Subclass.

[PROPOSED] ORDER GRANTING JOINT MOTION FOR FINAL APPROVAL OF AGREEMENT AND STIPULATION OF SETTLEMENT OF CLASS ACTION, PAYMENT OF ATTORNEYS' FEES AND LITIGATION EXPENSES, AND FINAL JUDGMENT

SUSAN ILLSTON, District Judge.

ORDER GRANTING JOINT MOTION FOR FINAL APPROVAL OF AGREEMENT AND STIPULATION OF SETTLEMENT OF CLASS ACTION

The Court has considered the Joint Motion for Final Approval of Agreement and Stipulation of Settlement of Class Action (the "Motion") filed by RBS Financial Products Inc., ("RBS") and Eli Goldhaber and Josephina Goldhaber (the "Class Representatives"), on behalf of themselves and all others similarly situated. In connection with the Motion, the Court finds that:

A. The Court entered its Order Granting Joint Motion for Preliminary Approval of Agreement and Stipulation of Settlement of Class Action on June 14, 2013 (the "Preliminary Approval Order"), granting preliminary approval of the Agreement and Stipulation of Settlement of Class Action between RBS and the Class Representatives dated May 1, 2013 (the "Agreement") and approving the form and manner of notice of the Agreement and the deadline for opting out and filing objections for all RBS Subclass Members.

B. Due notice has been given to the RBS Subclass of the terms of the proposed Agreement, the right to opt-out of the RBS Subclass, the time, date and location of the final hearing to consider approval of the Agreement (the "Final Approval Hearing"), the right to object to the proposed Agreement and the right to appear in person or by counsel at the Final Approval Hearing; and no other and further notice is required, and such notice is deemed proper and sufficient under the circumstances.

C. On _______, the Settlement Administrator provided a declaration stating that no RBS Subclass Member submitted a timely and valid request for exclusion.

D. On August 27, 2013, Class Counsel submitted a Motion for Payment of Class Counsel's Attorneys' Fees and Costs, seeking the approval of reasonable fees and costs reimbursement.

E. The court held a hearing on November 15, 2013 to consider final approval of the Agreement, the Motion for Payment of Class Counsel's Attorneys' Fees and Costs, as well as all timely and valid objections received from RBS Subclass Members.

F. The terms of the Agreement are fair, reasonable, and adequate under Federal Rule of Civil Procedure 23.

G. The Agreement was negotiated at arm's length and in good faith, and it is fair, equitable and in the best interests of ...


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