Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_01-cv-03361/USCOURTS-cand-3_01-cv-03361-1/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:78m(a) Securities Exchange Act

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[PROPOSED] ORDER AWARDING ATTYS’

 FEES & REIMBURSEMENT OF EXPENSES 

Master File No. C-01-3361 CRB (JCS) 

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UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF CALIFORNIA 

SAN FRANCISCO DIVISION 

In re CLARENT CORPORATION 

SECURITIES LITIGATION 

Master File No. C-01-3361 CRB (JCS) 

CLASS ACTION

This Document Relates To: 

ALL ACTIONS. 

Date: July 14, 2005 

Time: 10:00 a.m. 

Courtroom 8, 19th Floor 

Judge: The Honorable Charles R. Breyer 

[PROPOSED] ORDER APPROVING AWARD OF 

ATTORNEYS’ FEES AND REIMBURSEMENT OF EXPENSES 

Case 3:01-cv-03361-CRB Document 529 Filed 07/15/05 Page 1 of 3
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[PROPOSED] ORDER AWARDING ATTYS’

 FEES & REIMBURSEMENT OF EXPENSES 

Master File No. C-01-3361 CRB (JCS) 

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THIS MATTER having come before the Court on July 14, 2005, on the motion of Lead 

Plaintiff for approval of an award of attorneys’ fees and reimbursement of expenses incurred in 

this action, the Court, having considered all papers filed and proceedings conducted herein, 

having found the settlement of this action to be fair, reasonable and adequate, and otherwise 

being fully informed in the premises and good cause appearing therefore, 

IT IS HEREBY ORDERED that: 

1. This 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. 

2. The Court hereby awards plaintiffs’ counsel reimbursement of litigation expenses 

in the amount of $1,542,932.13 to be paid out of the combined settlement funds. The Court 

hereby awards Lead Counsel attorneys’ fees in the amount of 16.61% of the net combined 

settlement funds (i.e. combined settlement funds after deduction of litigation expenses), or 

attorney fees in the amount $1,222,008.97, to be paid out of the combined settlement funds. 

3. The Court finds that this award of attorneys’ fees is fair and reasonable and below 

the Ninth Circuit’s “benchmark” fee under the “percentage-of-recovery” method. The 

settlements were obtained through the extensive efforts of Lead Counsel. Lead Counsel 

diligently prosecuted this action for 3 1⁄2 years with a substantial risk of no recovery for the Class 

and obtained an excellent result. Counsel has received no compensation during the litigation and 

any fee award has always been at risk and completely contingent on the result achieved. The 

litigation was complex. It involved unique and substantial issues of law, including the uncertain 

interpretation and application of the Private Securities Litigation Reform Act of 1995. In 

addition, the litigation presented difficult questions of proof on such issues as liability and 

damages as well as a substantial risk of no recovery. Finally, the institutional Lead Plaintiff 

negotiated and supports the fee request before the Court, and no objections to the fee request 

have been received. 

4. The Court further finds that the request for reimbursement of expenses is 

reasonable in light of Lead Counsel’s duty to pursue all viable claims against persons or entities 

Case 3:01-cv-03361-CRB Document 529 Filed 07/15/05 Page 2 of 3
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[PROPOSED] ORDER AWARDING ATTYS’

 FEES & REIMBURSEMENT OF EXPENSES 

Master File No. C-01-3361 CRB (JCS) 

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on behalf of the Class related to the allegations in this action. Lead Plaintiff also supports the 

expense request before the Court, and no objections to the expense request have been received. 

5. The awarded attorneys’ fees and expenses shall be paid to Lead Counsel 

immediately after the date this Order is executed subject to the terms, conditions and obligations 

of the Stipulation filed with this Court on May 10, 2005, which terms conditions and obligations 

are incorporated herein. 

IT IS SO ORDERED. 

DATED: _________________________________________ 

 THE HONORABLE CHARLES R. BREYER 

 UNITED STATES DISTRICT COURT JUDGE 

Submitted by: 

BERNSTEIN LITOWITZ BERGER 

 & GROSSMANN LLP 

ALAN SCHULMAN (Bar No. 128661) 

ROBERT S. GANS (Bar No. 214420) 

BLAIR A. NICHOLAS (Bar No. 178428) 

NIKI L. MENDOZA (Bar No. 214646) 

BRETT M. MIDDLETON (Bar No. 199427) 

12544 High Bluff Drive, Suite 150 

San Diego, CA 92130 

Tel: (858) 793-0070 

Fax: (858) 793-0323 

Attorneys for Lead Plaintiff 

Otter Creek Partners and 

Lead Counsel for the Class 

18929 

July 14 2005 UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

APPROVED

Judge Charles R. Breyer

Case 3:01-cv-03361-CRB Document 529 Filed 07/15/05 Page 3 of 3