Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-caed-2_14-cv-02571/USCOURTS-caed-2_14-cv-02571-14/pdf.json

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

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ORDER APPROVING

FEES AND EXPENSES

MASTER FILE No. 2:14-cv-2571-MCE-KJN

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LOWENSTEIN SANDLER LLP

390 Lytton Avenue

Palo Alto, CA 94301

Telephone: 213-426-2170

Fax: 973-597-6233

Counsel for Lead Plaintiffs Special Situations 

Fund III QP, L.P. and Special Situations 

Cayman Fund, L.P. and additional named

Plaintiff David M. Fineman

UNITED STATES DISTRICT COURT

EASTERN DISTRICT OF CALIFORNIA

SPECIAL SITUATIONS FUND III QP, L.P., 

SPECIAL SITUATIONS CAYMAN FUND, 

L.P, and DAVID M. FINEMAN, Individually 

and On Behalf of All Others Similarly 

Situated,

Plaintiffs,

vs.

MARRONE BIO INNOVATIONS, INC., 

PAMELA G. MARRONE, JAMES B. 

BOYD, DONALD J. GLIDEWELL, 

HECTOR ABSI, ELIN MILLER, RANJEET 

BHATIA, PAMELA CONTAG, TIM 

FOGARTY, LAWRENCE HOUGH, 

JOSEPH HUDSON, LES LYMAN, 

RICHARD ROMINGER, SHAUGN 

STANLEY, SEAN SCHICKEDANZ, and 

ERNST & YOUNG LLP,

Defendants.

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Master No.: 2:14-cv-2571-MCE-KJN

Hon. Morrison C. England, Jr.

CONSOLIDATED CLASS ACTION

ORDER AWARDING 

ATTORNEYS’ FEES AND 

REIMBURSEMENT OF 

LITIGATION EXPENSES

Case 2:14-cv-02571-MCE-KJN Document 103 Filed 09/27/16 Page 1 of 4
ORDER APPROVING

FEES AND EXPENSES

MASTER FILE No. 2:14-cv-2571-MCE-KJN

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WHEREAS, this matter came before the Court on Lead Counsel’s motion for an award 

of attorneys’ fees and reimbursement of litigation expenses;

WHEREAS, the Court having considered all matters submitted to it; and it appearing 

that notice of the motion substantially in the form approved by the Court was mailed to all 

Settlement Class Members who or which could be identified with reasonable effort, and that a 

summary notice of the motion substantially in the form approved by the Court was published in 

The Wall Street Journal and was transmitted over the PR Newswire pursuant to the 

specifications of the Court; and the Court having considered and determined the fairness and 

reasonableness of the proposed Plan of Allocation, 

NOW, THEREFORE, IT IS HEREBY ORDERED THAT:

1. This Order incorporates by reference the definitions in the Stipulation and 

Agreement of Settlement with Individual Defendants dated June 16, 2016 (the "Stipulation") 

(ECF No. 80-1) and all capitalized terms not otherwise defined herein shall have the same 

meanings as set forth in the Stipulation.

2. The Court has jurisdiction to enter this Order approving the proposed Plan of 

Allocation, and over the subject matter of the Action and all parties to the Action, including all 

Settlement Class Members.

3. Notice of Lead Counsel’s motion for an award of attorneys’ fees and 

reimbursement of Litigation Expenses was given to all Settlement Class Members who or which 

could be identified with reasonable effort. The form and method of notifying the Settlement 

Class of the motion for approval of the proposed Plan of Allocation satisfied the requirements of 

Rule 23 of the Federal Rules of Civil Procedure, the United States Constitution (including the 

Due Process Clause), the Private Securities Litigation Reform Act of 1995, 15 U.S.C. § 78u-4 et 

seq., as amended, and all other applicable law and rules; constituted the best notice practicable 

under the circumstances; and constituted due and sufficient notice to all persons and entities 

entitled thereto.

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ORDER APPROVING

FEES AND EXPENSES

MASTER FILE No. 2:14-cv-2571-MCE-KJN

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4. Lead Counsel are hereby awarded attorneys' fees in the amount of $3,000,000,

and $436,879.91 in reimbursement of Lead Counsel’s litigation expenses (which fees and 

expenses shall be paid from the Settlement Fund), which sums the Court finds to be fair and 

reasonable.

5. In making this award of attorneys’ fees and reimbursement of expenses to be 

paid from the Settlement Fund, the Court has considered and found that:

a) The Settlement has created a fund of $12,000,000 in cash that has been 

funded into escrow pursuant to the terms of the Settlement, and that numerous Class Members 

who submit valid Claim Forms will benefit from the Settlement that occurred because of the 

efforts of Lead Counsel;

b) Copies of the Notice were mailed to over 13,700 potential Settlement 

Class members and nominees stating that Lead Counsel would apply for attorneys’ fees in the 

amount of 25% of the Settlement Fund ($3,000,000) and reimbursement of Litigation Expenses 

in an amount not to exceed $450,000 (Lead Counsel has actually incurred $ 436,879.91 in 

Litigation Expenses), and there were no objections to the requested attorneys’ fees and 

expenses;

c) Lead Counsel have conducted the litigation and achieved the Settlement 

with skill, perseverance and diligent advocacy;

d) The Action raised a number of complex legal and factual issues;

e) Had Lead Counsel not achieved the Settlement there would remain a 

substantial risk that Settlement Class members may have recovered less or nothing at all from 

the Settling Defendants;

f) Lead Counsel devoted approximately 1,400 hours to prosecuting this 

action, with a lodestar value of approximately $853,000, to achieve the Settlement, which 

expenditure is reasonable based on the Court’s oversight of the case and the work described in 

the Declaration of Steven M. Hecht in Support of (A) Lead Plaintiffs’ Motion for Final 

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ORDER APPROVING

FEES AND EXPENSES

MASTER FILE No. 2:14-cv-2571-MCE-KJN

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Approval of Class Action Settlement and Plan of Allocation, and (B) Lead Counsel’s Motion 

for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses (ECF No. 95.)

g) The amount of attorneys’ fees awarded is fair and reasonable, and 

consistent with the Ninth Circuit’s benchmark as well as awards in similar cases.

h) The expenses incurred by Lead Counsel were reasonable and necessary to 

the effective prosecution of this action, and the amount of expenses to be reimbursed from the 

Settlement Fund is fair and reasonable.

6. Any appeal or any challenge affecting this Court’s approval regarding any 

attorneys’ fees and expense application shall in no way disturb or affect the finality of the 

Judgment.

7. Exclusive jurisdiction is hereby retained over the parties and the members of the 

Settlement Class for all matters relating to this Action, including the administration, 

interpretation, effectuation or enforcement of the Stipulation and this Order.

8. In the event that the Settlement is terminated or the Effective Date of the 

Settlement otherwise fails to occur, this Order shall be rendered null and void to the extent 

provided by the Stipulation.

9. There is no just reason for delay in the entry of this Order, and immediate entry 

by the Clerk of the Court is expressly directed.

IT IS SO ORDERED. 

Dated: September 23, 2016

Case 2:14-cv-02571-MCE-KJN Document 103 Filed 09/27/16 Page 4 of 4