Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-azd-2_07-cv-00278/USCOURTS-azd-2_07-cv-00278-2/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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WO

IN THE UNITED STATES DISTRICT COURT

FOR THE DISTRICT OF ARIZONA

In re:

Amkor Technology Inc.

Securities Litigation 

This Document Relates To:

ALL ACTIONS

 

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No. 07-278-PHX-PGR

ORDER AUTHORIZING 

DISTRIBUTION OF CLASS

SETTLEMENT FUND

WHEREAS, by its Final Order and Judgment dated November 18, 2009, this Court

approved the terms of the Stipulation and Agreement of Settlement dated May 20, 2009 (the

“Stipulation”) and the Plan of Allocation for distributing the settlement proceeds to Class

Members; and

WHEREAS, this Court had directed the parties to consummate the terms of the

Stipulation and Plan of Allocation; and

WHEREAS, the $11,250,000 cash settlement proceeds have been deposited by the

Defendants into an interest-bearing escrow account maintained by Co-Lead Counsel, on

behalf of the Class (the “Settlement Fund”); and

WHEREAS, as set forth in the Notice of Pendency of Class Action and Proposed

Settlement, Motion for Attorneys’ Fees and Expenses and Settlement Fairness Hearing (the

“Notice”), the deadline for Class Members to submit Proof of Claim and Release forms

(“Proofs of Claim”) in order to participate in the distribution of the Settlement Fund was

Case 2:07-cv-00278-PGR Document 170 Filed 08/10/11 Page 1 of 5
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January 8, 2010; and

WHEREAS, in satisfaction of due process requirements, all Class Members who filed

claims that were in any way ineligible or deficient were: (1) informed that their claims were

ineligible or deficient; and (2) given opportunities to correct any deficiency prior to their

claims being finally rejected, or to contest the determination as to the deficiency, by

requesting Court-review of their claims; and

WHEREAS, the process of reviewing all Proofs of Claim has been completed; and

WHEREAS, Co-Lead Counsel now seek authorization to distribute the proceeds of

the Settlement Fund to Authorized Claimants, after deduction of any taxes, fees and expenses

previously approved by the Court or approved by this Order; and

WHEREAS, this Court has retained jurisdiction of this Action for the purpose of

considering any further application or matter which may arise in connection with the

administration and execution of the Settlement and the processing of Proofs of Claims and

the distribution of the Net Settlement Fund to the Authorized Claimants;

NOW, THEREFORE, upon reading: (1) the Affidavit of Jason Zuena, Senior Director

of Operations for GCG, Inc. (“GCG”) (the “Zuena Affidavit”); (2) the Memorandum in

Support of Class Representatives’ Motion for Distribution of Class Settlement Fund; and

upon all prior proceedings heretofore had herein, and after due deliberation, it is hereby

ORDERED, that the administrative determinations of GCG accepting the claims as

indicated on the list of accepted claims submitted with and described in the Zuena Affidavit,

calculated under the Plan of Allocation, including claims submitted after the January 8, 2010

submission deadline, be and the same hereby are approved, and said claims are hereby

accepted; and it is further

ORDERED, that the administrative determinations of GCG rejecting the claims as

indicated on the list of rejected claims submitted with and described in the Zuena Affidavit

(including the two Disputed Claims set forth in the Zuena Affidavit) be and the Same hereby

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are approved, and said claims are hereby rejected; and it is further

ORDERED, that payment be made from the Settlement Fund to the Internal Revenue

Service for the proper amount of taxes due and owing on the interest earned on the

Settlement Fund while in escrow, if any; and it is further

ORDERED, that GCG be paid the sum of $298,134.86 from the Settlement Fund as

payment for the balance of its fees and costs incurred and to be incurred in connection with

giving notice to the Class, processing Proofs of Claim, preparing the tax returns for the

Settlement Fund and distributing the Net Settlement Fund to the Authorized Claimants; and

it is further

ORDERED, that the balance of the Settlement Fund after deducting payments

previously allowed and set forth herein (the “Net Settlement Fund”) shall be distributed to

the Authorized Claimants listed on the list submitted with the Zuena Affidavit in proportion

to each Authorized Claimant’s Recognized Claim, calculated under the Plan of Allocation,

as compared to the total Recognized Claims of all accepted claimants as shown on such list;

and it is further

ORDERED, that the checks for distribution to the Authorized Claimants shall bear

the notation “CASH PROMPTLY, VOID AND SUBJECT TO RE-DISTRIBUTION IF NOT

CASHED BY DATE 120 DAYS AFTER ISSUE DATE.” Co-Lead Counsel and GCG are

authorized to take appropriate action to locate and/or contact any Authorized Claimant who

has not cashed his, her or its check within said time; and it is further

ORDERED, that any funds remaining in the Net Settlement Fund by reason of

uncashed checks, or otherwise, six (6) months following the initial distribution of the Net

Settlement Fund to Authorized Claimants and after reasonable and diligent efforts have been

made by GCG to have Authorized Claimants who are entitled to participate in the

distribution of the Net Settlement Fund cash their distribution checks, be used: (a) first, to

pay any amounts mistakenly omitted from the initial distribution to Authorized Claimants

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or to pay any late, but otherwise valid and fully documented claims received after the cutoff

date used to make the initial distribution, which were not previously authorized by the Court

to be paid, provided that such distributions to any late post-distribution claimants meet all

of the other criteria for inclusion in the initial distribution, including the $10.00 minimum

check amount set out in the Notice, (b) second, to pay any additional settlement

administration fees and expenses, and (c) finally, to make a second distribution to Authorized

Claimants who cashed their checks from the initial distribution and who would receive at

least $10.00 from such second distribution, after payment of the estimated costs or fees to be

incurred in administering the Net Settlement Fund and in making the second distribution, if

such second distribution is determined to be economically feasible; and it is further

ORDERED, that six (6) months after such second distribution, if undertaken, or if

such second distribution is not undertaken, any funds remaining in the Net Settlement Fund,

after GCG has made reasonable and diligent efforts to have Authorized Claimants who are

entitled to participate in the Settlement cash their checks, shall be donated to

ShareOwners.org; and it is further

ORDERED, that the Court finds that the administration of the Settlement and the

proposed distribution of the Net Settlement Fund comply with the terms of the Stipulation

and the Plan of Allocation and that all persons involved in the review, verification,

calculation, tabulation, or any other aspect of the processing of the claims submitted herein,

or otherwise involved in the administration or taxation of the Settlement Fund or the Net

Settlement Fund are released and discharged from any and all claims arising out of such

involvement, and all Class Members, whether or not they are to receive payment from the

Net Settlement Fund are barred from making any further claims against the Net Settlement

Fund or the Released Parties beyond the amount allocated to them pursuant to this Order; and

it is further 

ORDERED, that GCG is hereby authorized to discard paper copies of Proofs of Claim

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and all supporting documents one (1) year after distribution of the Net Settlement Fund and

electronic copies of the same three (3) years after distribution of the Net Settlement Fund;

and it is further

ORDERED, that this Court retain jurisdiction over any further application or matter

which may arise in connection with this Action; and it is further

ORDERED, that claims submitted on or after June 20, 2011 may be accepted only for

excusable neglect on the part of the claimant, as determined by Co-Lead Counsel.

DATED this 10th day of August, 2011.

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