Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_12-cv-05270/USCOURTS-cand-3_12-cv-05270-7/pdf.json

Nature of Suit Code: 890
Nature of Suit: Other Statutory Actions
Cause of Action: 28:1331 Fed. Question

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AMENDED [PROPOSED] FINAL ORDER APPROVING CLASS ACTION SETTLEMENT

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UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

FINAL APPROVAL ORDER

On June 13, 2014, after active litigation, extensive arm’s-length 

negotiations, a mediation session before the Honorable Edward A. Infante (Ret.), 

and settlement discussions, Plaintiff and Defendants (herein jointly referred to as 

the “Parties”) entered into a Settlement Agreement and Release (hereinafter 

referred to as the “Settlement Agreement” or “Settlement”) on behalf of a proposed 

class, which is subject to review under Fed. R. Civ. P. 23. The Settlement 

purports to resolve all claims asserted in Abdullah Byanooni v. Merrill Lynch, et al. 

(the “Action.”)

ABDULLAH BYANOONI, 

individually and on behalf of a class 

and subclass of similarly situated 

individuals,

Plaintiff,

v.

MERRILL LYNCH, PIERCE, 

FENNER & SMITH; BANK OF 

AMERICA CORPORATION; and 

DOES 1 through 10, inclusive,

 Defendants.

Case No.: 3:12-CV-05270-RS

CLASS ACTION

AMENDED [PROPOSED] FINAL 

ORDER APPROVING CLASS 

ACTION SETTLEMENT

HON. RICHARD SEEBORG

Case 3:12-cv-05270-RS Document 54 Filed 04/28/15 Page 1 of 6
AMENDED [PROPOSED] FINAL ORDER APPROVING CLASS ACTION SETTLEMENT

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On June 26, 2014, the Parties filed the Settlement Agreement along with the 

Joint Motion for Preliminary Approval of Class Action Settlement (hereinafter 

referred to as the “Preliminary Approval Motion”).

In compliance with the Class Action Fairness Act of 2005, Pub. L. No. 109-

2, 119 Stat. 4, Defendants will serve written notice of the proposed class action 

settlement on the person who has the primary federal regulatory or supervisory 

responsibility with respect to Defendants. 

On August 4, 2014, upon consideration of the Settlement Agreement, 

Preliminary Approval Motion, and the record, the Court entered an Order of 

Preliminary Approval of Class Action Settlement (hereinafter referred to as the 

“Preliminary Approval Order”). Pursuant to the Preliminary Approval Order, the 

Court, among other things, (i) preliminarily certified (for settlement purposes only) 

a class of plaintiffs (hereinafter referred to as the “Class Members”) with respect to 

the claims asserted in the Action; (ii) preliminarily approved the proposed 

settlement; (iii) appointed Plaintiff Abdullah Byanooni as the Class Representative; 

(iv) appointed Orshansky & Yeremian LLP as Class Counsel; and (v) set the date 

and time of the Final Approval Hearing. 

On March 19, 2015, the Parties filed their Joint Motion for Final Approval 

of Class Action Settlement Agreement (hereinafter referred to as the “Final 

Approval Motion”) and Class Counsel filed their motion for attorneys’ fees and 

litigation costs, and the class representative incentive award. Pursuant to their 

Final Approval Motion, the Parties request final certification of the settlement class 

under Fed. R. Civ. P. 23(b)(3) and final approval of the proposed class action 

settlement. 

On April 23, 2015, a Final Approval Hearing was held pursuant to Fed. R. 

Civ. P. 23 to determine whether the lawsuit satisfies the applicable prerequisites 

for class action treatment and whether the proposed settlement is fundamentally 

fair, reasonable, adequate, and in the best interests of the Class Members and 

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should be approved by the Court. The Court has read and considered the 

Settlement Agreement, Final Approval Motion and the record. All undefined 

capitalized terms used herein have the meanings defined herein and/or in the 

Settlement Agreement.

NOW, THEREFORE, IT IS HEREBY ORDERED:

1. JURISDICTION

2.

: The Court has jurisdiction over the subject matter of the 

Action and over all settling parties hereto.

SETTLEMENT CLASS MEMBERS: Pursuant to Fed. R.Civ. P. 23(b)(3), the 

Action are hereby finally certified, for settlement purposes only, as a class 

action on behalf of the following Settlement Class members with respect to 

the claims asserted in the Action (also referred to as “Settlement Class”):

All customers of Merrill Lynch’s Merrill Edge Advisory Center 

and self-directed online investment platform within the State of 

California who, on or after August 17, 2011, through the date of 

preliminary approval, received a telephone call from Merrill 

Lynch that was recorded and/or monitored.

(Members of the Class are referred to as “Class Members.”)

3. CLASS REPRESENTATIVE AND CLASS COUNSEL APPOINTMENT

4.

:

Pursuant to Fed. R. Civ. P. 23, the Court finally certifies Plaintiff Abdullah 

Byanooni as the Class Representative and Anthony J. Oshansky and David 

Yeremian as Class Counsel. 

NOTICE AND CLAIMS PROCESS: Pursuant to the Court’s Preliminary 

Approval Order, the Claims Administrator has complied with the approved 

notice process as confirmed in its declaration filed with the Court. The form 

and method for notifying the Class Members of the Settlement and its terms 

and conditions was in conformity with this Court’s Preliminary Approval 

Order and satisfied the requirements of Fed. R. Civ. P. 23(c)(2)(B) and due 

process, and constituted the best notice practicable under the circumstances. 

The Court finds that the notice process was clearly designed to advise the 

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Class Members of their rights. Further, the Court finds that the claim process 

set forth in the Settlement Agreement was followed and that the process was 

the best practicable procedure under the circumstances.

5. FINAL CLASS CERTIFICATION

(a) The Class Members are so numerous that joinder of all of them in the 

Action would be impracticable; 

: The Court again finds that the Action 

satisfies the applicable prerequisites for class action treatment under Fed. R. 

Civ. P. 23, namely:

(b)There are questions of law and fact common to the Class Members, 

which predominate over any individual questions; 

(c) The claims of Plaintiff are typical of the claims of the Class Members; 

(d) Plaintiff and Class Counsel have fairly and adequately represented and 

protected the interests of all the Class Members; and

(e) Class treatment of these claims will be efficient and manageable, thereby 

achieving an appreciable measure of judicial economy, and a class action 

is superior to other available methods for a fair and efficient adjudication 

of this controversy. 

6. The Court finds that the settlement of the Action, on the terms and conditions 

set forth in the Settlement Agreement and Addendum thereto, together with 

the modifications set forth in this Order, is in all respects fundamentally fair, 

reasonable, adequate, and in the best interests of Class Members, especially in 

light of the benefits to the Class Members, the strength of the Plaintiff’s case, 

the complexity, expense and probable duration of further litigation, the risk 

and delay inherent in possible appeals, and the risk of collecting any judgment 

obtained on behalf of the class.

7. SETTLEMENT TERMS: The Settlement Agreement and Addendum to the 

Settlement Agreement, which have been filed with the Court and shall be 

deemed incorporated herein, are finally approved with the modifications noted 

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below to the award of attorneys’ fees and litigation costs and the Incentive 

Payment to Plaintiff Abdullah Byanooni. The Settlement shall be 

consummated in accordance with the terms and provisions of the Settlement 

Agreement and Addendum to the Settlement Agreement as modified by this 

Order. The material terms of the Settlement Agreement include, but are not 

limited to, the following:

a) Defendants will pay a non-reversionary “all in” cash sum in the 

total amount of $750,000.00 (the “Settlement Fund”).

b) Class Members who submitted a valid claim form will receive a 

pro-rata share of the Settlement Fund after the costs of notice and 

claims administration, attorneys’ fees and costs, and the incentive 

award for Plaintiff Abdullah Byanooni are paid from the 

Settlement Fund.

c) The Claims Administrator shall pay from the Settlement Fund 

$2,500.00 to Plaintiff Abdullah Byanooni payable through Class 

Counsel in the form of a check as an Incentive Payment for 

bringing and participating in the Action; 

d) The Claims Administrator shall pay from the Settlement Fund to 

Class Counsel $151,614.17 for attorneys’ fees and litigation costs 

incurred in connection with the Action, in the manner specified in 

the Settlement Agreement. 

8. EXCLUSIONS AND OBJECTIONS

9. The Class Members were given an opportunity to object to the settlement. No

Class Members filed objections. 

: A total of one exclusion was received. 

Those persons requesting exclusion are named on Exhibit A to this Order. 

The Court hereby excludes these individuals from the Settlement Class.

10. This Order is binding on all Class Members, except those individuals named 

on Exhibit A, who validly and timely excluded themselves from the Class. 

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11. RELEASE OF CLAIMS AND DISMISSAL OF ACTIONS

12. The Action is hereby dismissed with prejudice in all respects.

: The Class 

Representatives, Class Members, and their successors and assigns are 

permanently barred and enjoined from instituting or prosecuting, either 

individually or as a class, or in any other capacity, any of the Released Claims 

against any of the Released Parties, as set forth in the Settlement Agreement

and the Addendum to the Settlement Agreement. Pursuant to the release 

contained in the Settlement Agreement and the Addendum to the Settlement 

Agreement, the Released Claims are compromised, discharged, and dismissed 

with prejudice by virtue of these proceedings and this Order.

13. This Order is not, and shall not be construed as, an admission by Defendants.

14. Without affecting the finality of this Final Judgment and Order of Dismissal 

with Prejudice, the Court hereby retains continuing and exclusive jurisdiction 

over the Parties and all matters relating to the Action and/or Settlement 

Agreement and Addendum to the Settlement Agreement, including the 

administration, interpretation, construction, effectuation, enforcement, and 

consummation of the settlement and this order. 

IT IS SO ORDERED.

Dated: _________________ ______________________________

HON. RICHARD SEEBORG 

UNITED STATED DISTRICT JUDGE

4/28/15

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