Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_14-cv-03673/USCOURTS-cand-3_14-cv-03673-2/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:77 Securities Fraud

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[PROPOSED] ORDER AWARDING ATT’YS’ FEES & REIMBURSEMENT OF LITIG. EXPENSES

CASE NO. 3:14-CV-03673-JD

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UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

SAN FRANCISCO DIVISION

LINUS ARULIAH, Individually and On 

Behalf of All Others Similarly Situated,

Plaintiff,

v.

IMPAX LABORATORIES, INC., LARRY

HSU, G. FREDERICK WILKINSON, and

BRYAN M. REASONS,

Defendants.

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No. 3:14-cv-03673-JD

[PROPOSED] ORDER AWARDING 

ATTORNEYS’ FEES AND 

REIMBURSEMENT OF LITIGATION 

EXPENSES, AS MODIFIED BY THE 

COURT

Case 3:14-cv-03673-JD Document 77 Filed 12/21/15 Page 1 of 4
[PROPOSED] ORDER AWARDING ATT’YS’ FEES & REIMBURSEMENT OF LITIG. EXPENSES

CASE NO. 3:14-CV-03673-JD

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THIS MATTER came before the Court on November 24, 2015 for a hearing to determine, 

among other things, whether and in what amount to award Lead Counsel’s fees and litigation expenses 

relating to their representation of the Class in the above-captioned securities class action (the “Action”).

The Court having considered all matters submitted to it at the hearing and otherwise; and it 

appearing that a notice of the hearing, substantially in the form approved by the Court (the “Notice”), 

was mailed to all reasonably identified Persons who purchased or otherwise acquired the common stock 

of Impax Laboratories, Inc. between March 6, 2013 and August 1, 2014, inclusive; and that a summary 

notice of the hearing (the “Summary Notice”), substantially in the form approved by the Court, was 

published once in the Investor’s Business Daily and transmitted over PR Newswire on August 4, 2015; 

and the Court having considered and determined the fairness and reasonableness of the award of 

attorneys’ fees and litigation expenses requested;

NOW, THEREFORE, IT IS HEREBY ORDERED:

1. All capitalized terms used in this Order have the meanings as set forth and defined in the 

Stipulation of Settlement dated May 27, 2015 (the “Stipulation”).

2. The Court has jurisdiction over the subject matter of this Action and over all parties to 

the Action, including all Class Members and the Claims Administrator.

3. Class Members were notified that Lead Counsel would be applying for an award of 

attorneys’ fees and litigation expenses. The form and method of notifying the Class of the application 

for attorneys’ fees and expenses met the requirements of Rules 23 and 54 of the Federal Rules of Civil 

Procedure, Section 21(D)(a)(7) of the Securities Act of 1934, 15 U.S.C. § 78u-4(a)(7), as amended by 

the Private Securities Litigation Reform Act of 1995 (the “PSLRA”), 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 to it.

4. Lead Counsel are awarded attorneys’ fees in the amount of $ 891,983.25, plus interest at 

the same rate earned by the Settlement Fund (i.e., _____% of the Settlement Fund, which includes 

interest earned thereon), and payment of litigation expenses in the amount of $ 82,943.01, plus interest 

at the same rate earned by the Settlement Fund, which sums the Court finds to be fair and reasonable 

Case 3:14-cv-03673-JD Document 77 Filed 12/21/15 Page 2 of 4
[PROPOSED] ORDER AWARDING ATT’YS’ FEES & REIMBURSEMENT OF LITIG. EXPENSES 2

CASE NO. 3:14-CV-03673-JD

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given the substantial risks of non-recovery, the time and effort involved, and the result obtained for the 

Class. The award of attorneys’ fees and litigation expenses shall be paid to Lead Counsel from the 

Settlement Fund within three (3) thirty (30) business days of entry of this Order, subject to the terms, 

conditions, and obligations of the Stipulation, which terms, conditions, and obligations are incorporated 

into this Order.

5. In making this award of attorneys’ fees and litigation expenses, the Court has considered 

and found that:

a. The Settlement has created a fund of $4.75 million in cash and that numerous 

Class Members who submit acceptable Proofs of Claim will benefit from the Settlement created by the 

efforts of Lead Counsel;

b. The requested attorneys’ fees and payment of litigation expenses have been 

reviewed and approved as fair and reasonable by KBC Asset Management NV (“KBC”), the court 

appointed lead plaintiff in this action. 

c. KBC is a sophisticated institutional investor that was directly involved in the 

prosecution and resolution of the Action and that has a substantial interest in ensuring that any fees paid 

to Lead Counsel are duly earned and not excessive;

d. Notice was disseminated to putative Class Members stating that Lead Counsel 

would be submitting an application for attorneys’ fees in an amount not to exceed 25% of the 

Settlement Amount, plus interest, and payment of litigation expenses incurred in connection with the 

prosecution of this Action in an amount not to exceed $115,000, plus interest. The Court is informed 

that no Class Member has filed an objection to the application for fees and expenses submitted by Lead 

Counsel;

e. Lead Counsel conducted the Action and achieved the Settlement with skillful and 

diligent advocacy performed adequately in handling the Action;

f. The Action involves complex factual and legal issues and, in the absence of a 

settlement, would involve lengthy proceedings whose resolution would be uncertain; 

Case 3:14-cv-03673-JD Document 77 Filed 12/21/15 Page 3 of 4
[PROPOSED] ORDER AWARDING ATT’YS’ FEES & REIMBURSEMENT OF LITIG. EXPENSES 3

CASE NO. 3:14-CV-03673-JD

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g. Counsel undertook the Action on a contingent basis and devoted more than 1,530

hours, with a lodestar value of $891,983.25, to achieve the Settlement; 

h. The amount of attorneys’ fees awarded here is consistent with awards in similar 

cases; and

i. The litigation expenses incurred here were reasonable and necessary to the 

prosecution of the Action.

6. Any appeal or challenge affecting this Court’s approval of any attorneys’ fee and 

expense application shall in no way disturb or affect the finality of the Judgment entered with respect to 

the Settlement.

7. Exclusive jurisdiction is retained over the subject matter of this action and over all 

parties to the action, including the administration and distribution of the Net Settlement Fund to Class 

Members.

8. In the event that the Settlement is terminated or does not become final or the Effective 

Date does not occur in accordance with the terms of the Stipulation, this Order shall be rendered null 

and void to the extent provided by the Stipulation and shall be vacated in accordance with the 

Stipulation.

Dated: December 21, 2015

___________________________________

The Honorable James Donato

United States District Judge

Case 3:14-cv-03673-JD Document 77 Filed 12/21/15 Page 4 of 4