United States District Court, D. South Carolina
EDNA SELAN EPSTEIN, Individually and on Behalf of All Others Similarly Situated, Plaintiff,
WORLD ACCEPTANCE CORPORATION, et al., Defendants.
ORDER AWARDING ATTORNEYS' FEES AND EXPENSES AND
AWARD TO LEAD PLAINTIFF PURSUANT TO 15 U.S.C.
GEIGER LEWIS UNITED STATES DISTRICT JUDGE
matter having come before the Court on December 18, 2017, on
the motion of Lead Counsel for an award of attorneys'
fees and expenses (the “Fee Motion”), the Court,
having considered all papers filed and proceedings conducted
herein, having found the Settlement of this Litigation to be
fair, reasonable and adequate, and otherwise being fully
informed in the premises and good cause appearing therefore;
HEREBY ORDERED, ADJUDGED, AND DECREED that:
Order incorporates by reference the definitions in the
Stipulation of Settlement dated August 24, 2017 (the
“Stipulation”), and all capitalized terms used,
but not defined herein, shall have the same meanings as set
forth in the Stipulation.
Court has jurisdiction over the subject matter of this
application and all matters relating thereto, including all
Members of the Settlement Class who have not timely and
validly requested exclusion.
Notice of Lead Counsel's Fee Motion was given to all
Settlement Class Members who could be located with reasonable
effort. The form and method of notifying the Settlement Class
of the Fee Motion met the requirements of Rule 23 of the
Federal Rules of Civil Procedure and 15 U.S.C.
§78u-4(a)(7), the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of
1995, due process, and any other applicable law, constituted
the best notice practicable under the circumstances, and
constituted due and sufficient notice to all persons and
entities entitled thereto.
Court hereby awards Lead Counsel attorneys' fees of 30%
of the Settlement Fund (or $4, 800, 000), plus expenses in
the amount of $472, 044.02, together with the interest earned
on both amounts for the same time period and at the same rate
as that earned on the Settlement Fund until paid. The Court
finds that the amount of fees awarded is appropriate and that
the amount of fees awarded is fair and reasonable under the
awarded attorneys' fees and expenses and interest earned
thereon, shall be paid to Lead Counsel subject to the terms,
conditions, and obligations of the Stipulation, and in
particular, ¶7.2 thereof, which terms, conditions, and
obligations are incorporated herein.
making this award of fees and expenses to Lead Counsel, the
Court has considered and found that:
(a) the Settlement has created a fund of $16, 000, 000 in
cash that is already on deposit, and numerous Settlement
Class Members who submit, or have submitted, valid Proof of
Claim and Release forms will benefit from the Settlement
created by Lead Counsel;
(b) over 54, 400 copies of the Notice were disseminated to
potential Settlement Class Members indicating that Lead
Counsel would move for attorneys' fees in an amount not
to exceed 30% of the Settlement Amount and for expenses in an
amount not to exceed $500, 000, and no objections to the fees
or expenses were filed by Settlement Class Members;
(c) Lead Counsel has pursued the Litigation and achieved the
Settlement with skill, perseverance and diligent advocacy;
(d) Lead Counsel has expended substantial time and effort
pursuing the Litigation on behalf of ...