Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_04-cv-05222/USCOURTS-cand-3_04-cv-05222-19/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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United States District Court

For the Northern District of California

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United States District Court

For the Northern District of California

IN THE UNITED STATES DISTRICT COURT

FOR THE NORTHERN DISTRICT OF CALIFORNIA

In re SUPPORTSOFT, INC. SECURITIES

LITIGATION

 /

No. C 04-05222 SI

ORDER AWARDING FEES TO CLASS

COUNSEL AND PROVIDING FOR

REIMBURSEMENT OF EXPENSES

WHEREAS, the Court has granted final approval to the settlement of the within action;

WHEREAS, the class counsel appointed by the Court have petitioned the Court for the award

of counsel fees in compensation for the services provided to plaintiffs and the class and for the

reimbursement of expenses incurred in connection with the prosecution of the action, to be paid out of

the settlement fund established pursuant to the settlement; and

WHEREAS, the Court has reviewed the fee application and the supporting materials filed

therewith, and has heard the presentation made by class counsel during the final approval hearing, and

due consideration having been had thereon.

NOW, THEREFORE, it is hereby ordered:

1. Class counsel request fees in the amount of 30% of the settlement fund. The Ninth Circuit

has made clear that 25% is the proper benchmark in class action cases. See, e.g., In re Coordinated

Pretrial Proceedings in Petroleum Products Antitrust Litigation, 109 F.3d 602, 607 (9th Cir. 1997).

This 25% benchmark “can then be adjusted upward or downward to account for any unusual

circumstances involved” in the case. Paul, Johnson, Alston & Hunt v. Graulty, 886 F.2d 268, 272 (9th

Cir. 1989). The Court has considered the arguments of class counsel in favor of an upward adjustment

and is aware that if fees in this case were based on a lodestar class counsel would receive fees

substantially in excess of this amount. The Court finds, however, that counsel have not presented any

Case 3:04-cv-05222-SI Document 156 Filed 10/16/07 Page 1 of 2
United States District Court

For the Northern District of California

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unusual circumstances to justify departing upward from the 25% benchmark. Therefore, class counsel

are awarded 25% of the settlement fund, totaling $2,675,000, together with a proportionate share of the

interest earned on the fund, at the same rate as is earned by the balance of the fund, from the date of the

establishment of the fund to the date of payment. 

2. The expenses of class counsel shall be reimbursed out of the settlement fund in the amount

of $204,197.44, together with interest earned thereon at the same rate as is earned by the balance of the

fund from the date of establishment of the fund until the date of payment.

3. Lead plaintiff and class representative, Scott Roland, having petitioned the Court for the

reimbursements of $3,150 in expenses incurred and time lost from his business in connection with

locating documents requested by defendants, preparing for his deposition, attending his deposition, and

his other activities on behalf of the class as lead plaintiff and class representative, is awarded

reimbursement out of the settlement fund in the amount of $3,150, together with interest earned thereon

at the same rate as is earned by the balance of the settlement fund from the date of establishment of the

fund to the date of payment.

IT IS SO ORDERED.

Dated: October 16, 2007 SUSAN ILLSTON

United States District Judge

Case 3:04-cv-05222-SI Document 156 Filed 10/16/07 Page 2 of 2