UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF ILLINOIS

EASTERN DIVISION

THURMAN ROSS, by and on behalf of himself and

all others similarly situated,

Plaintiff,

vs.

CAREER EDUCATION CORPORATION, GARY

E. MoCULLOUGH, and MICHAEL J. GRAHAM,

Civil Action No. 12 C 276

Hon. John W. Darrah

Defendants.

AMENDED FINAL JUDGMENT

AND ORDER OF DISMISSAL WITH PREJUDICE

Case: 1:12-cv-00276 Document #: 129 Filed: 04/16/14 Page 1 of 8 PageID #:3066
This matter came before the Court for hearing on April 16, 2014 (the "Settlement

Hearing"), pursuant to the Preliminary Approval Order dated November 6, 2013, on the

application of the parties for approval of the settlement set forth in the Stipulation of Settlement

(the "stipulation"), dated October 25,20t3. Due and adequate notice having been given to the

Class as required in said Order, and the Court having considered all papers filed and proceedings

had herein and otherwise being fully informed in the premises and good cause appearing

therefore, IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that:

l. This Judgment incorporates by reference the definitions in the Stipulation, and all

terms used herein shall have the same meanings as set forth in the Stipulation, unless otherwise

set forth herein.

2. This Court has jurisdiction over the subject matter of the Litigation and over all

parties to the Litigation, including all Members of the Class.

3. Pursuant to Federal Rule of Civil Procedtxe 23, the Court hereby approves the

settlement set forth in the Stipulation and finds that:

(a) said Stipulation and the settlement contained therein, are, in all respects,

fair, reasonable, and adequate and in the best interest of the Class;

(b) there was no collusion in connection with the Stipulation;

(c) the Stipulation was the product of informed, arm's-length negotiations

among competent, able counsel; and

(d) the record is sufficiently developed and complete to have enabled

Plaintiffs and Defendants to have adequately evaluated and considered their positions.

4. Accordingly, the Court authorizes and directs implementation and performance of

all the terms and provisions of the Stipulation, as well as the terms and provisions hereof.

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Except as to any individual claim of those Persons (identified in Exhibit 1 attached hereto) who

have validly and timely requested exclusion from the Class, the Court hereby dismisses the

Litigation and all Released Claims of the Class with prejudice. The Settling Parties are to bear

their own costs, except as and to the extent provided in the Stipulation and herein.

5. Upon the Effective Date, Plaintiffs shall, and each of the Class Members shall be

deemed to have, and by operation of this Judgment shall have, fully, finally, and forever

released, relinquished, and discharged all Released Claims against the Released Persons, whether

or not such Class Member executes and delivers the Proof of C1aim and Release form or shares

in the Class Settlement Fund. Claims to enforce the terms of the Stipulation are not released.

6. All Class Members are hereby forever barred and enjoined from prosecuting any

of the Released Claims against any of the Released Persons.

7. Upon the Effective Date, each of the Released Persons shall be deemed to have,

and by operation of this Judgment shall have, fuIly, finally, and forever released, relinquished,

and discharged Plaintiffs, each and all of the Class Members, and Plaintiffs' counsel from all

claims (including Unknown Claims) arising out of, relating to, or in connection with the

institution, prosecution, assertion, settlement or resolution of the Litigation or the Released

Claims. Claims to enforce the terms of the Stipulation are not released.

8. The Notice of Proposed Settlement of Class Action given to the Class, including

the individual notice to all Members of the Class who could be identified through reasonable

effort, provided the best notice practicable under the circumstances of the Litigation and of the

matters set forth therein, including the proposed settlement set forth in the Stipulation, to all

Persons entitled to such notice, and said notice fully satisfied the requirements of Federal Rule of

Civil Procedure 23 and the requirements of due process.

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9. Any Plan of Allocation submitted by Lead Counsel or any order entered regarding

any attorneys' fee and expense application shall in no way disturb or affect this Final Judgment

and shall be considered separate from this Final Judgment.

10. Neither the Stipulation nor the settlement contained therein, nor any act

performed or document executed pursuant to or in furtherance of the Stipulation or the

settlement: (a) is or may be deemed to be or may be used as an admission of, or evidence of, the

validity of any Released Claim, or of any wrongdoing or liability of Defendants or their

respective Related Parties; or (b) is or may be deemed to be or may be used as an admission of,

or evidence of, any fault or omission of any Defendant or their respective Related Parties in any

civil, criminal, or administrative proceeding in any court, administrative agency, or other

tribunal. Defendants and/or their respective Related Panies may file the Stipulation and/or this

Judgment from this action in any other action that may be brought against them in order to

support a defense or counterclaim based on principles of res judicata, collateral estoppel, release,

good faith settlement, judgment bar or reduction, or any theory of claim preclusion or issue

preclusion or similar defense or counterclaim.

11. Without affecting the finality of this Judgment in any way, this Court hereby

retains continuing jurisdiction over: (a) implementation of this settlement and any award or

distribution of the Class Settlement Fund, including interest eamed thereon; (b) disposition of the

Class Settlement Fund; (c) hearing and determining applications for attomeys' fees, interest, and

expenses in the Litigation; and (d) all parties hereto for the purpose of construing, enforcing, and

administering the Stipulation.

Case: 1:12-cv-00276 Document #: 129 Filed: 04/16/14 Page 4 of 8 PageID #:3069
t2. The Court finds that, during the course of the Litigation, the Settling Parties and

their respective counsel at all times complied with the requirements of Federal Rule of Civil

Procedure 11.

13. In the event that the settlement does not become effective in accordance with the

terms of the Stipulation, or the Effective Date does not occur, or in the event that the Class

Settlement Fund, or any portion thereof, is returned to CEC and/or Defendants' insurers, then

this Judgment shall be rendered null and void to the extent provided by and in accordance with

the Stipulation and shall be vacated and, in such event, all orders entered and releases delivered

in connection herewith shall be null and void to the extent provided by and in accordance with

the Stipulation.

14. Any Member of the Class that previously submitted a request for exclusion from

the Class Action Settlement, but withdrew that request for exclusion by written communication

to the Settlement Claims Administrator and Lead Counsel prior to April 16, 2014, is hereby

Ordered a Member of the Class for all pufposes, including for purposes of this Settlement, and

shall be allowed to file a Proof of Claim with the Settlement Claims Administrator on or before

April 18,2014.

15. Without further order of the Court, the Settling Parties may agree to reasonable

extensions of time to carry out any of the provisions of the Stipulation.

IT IS SO ORDERED.

o,*.,,o,44-//

LE JOHN W. DARRAH

STATES DISTzuCT JUDGE

Case: 1:12-cv-00276 Document #: 129 Filed: 04/16/14 Page 5 of 8 PageID #:3070
EXHIBIT 1

Case: 1:12-cv-00276 Document #: 129 Filed: 04/16/14 Page 6 of 8 PageID #:3071
<,gt

rl20lt4

Claims Administrator

CEC Securities Litigation

CIO Hefler Claims GrouP

P.O. Box 58669

Philedelphia, PA 19102

Alice Silverstein

Edwin Silverstein

1001 A Thornbury Ln

Manchester, N.J. 08759 

:

Dear Sir,

In reguard to the litigation of Career Education Corp

symbol cEC Alice, my wife, & Edwin silverstein want

To exclude ourselves from the class litigation.

Verv Truly-Yours, -fu,-!r**l'

Edwin Silverstein

fr/rt" {&-"*m,

Alice Silverstein

Case: 1:12-cv-00276 Document #: 129 Filed: 04/16/14 Page 7 of 8 PageID #:3072
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Case: 1:12-cv-00276 Document #: 129 Filed: 04/16/14 Page 8 of 8 PageID #:3073