UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF ILLINOIS

EASTERN DIVISION

In re Peregrine Financial Group Customer

Litigation

Civil Action No. 12-cv-5546

Judge Sara L. Ellis

Magistrate Judge Daniel G. Martin

ORDER APPROVING PLAN OF ALLOCATION

The Court, having considered (a) Class Counsel’s Motion for Final Approval of Class 

Action Settlement and Plan of Allocation; (b) the Memorandum of Law in Support of the Class 

Counsel’s Motion for Final Approval; (c) the Plan of Allocation for the customer Class (as set 

out in Exhibit D to the Settlement Agreement, ECF No. 410-7, and as summarized in the 

proposed Notice previously approved by this Court, ECF No. 410-4); and (d) the Declaration of 

Co-Lead Counsel; and having held a hearing on October 13, 2015, and considered all of the 

submissions and arguments with respect thereto; pursuant to Rule 23 of the Federal Rules of 

Civil Procedure, and in accordance with the terms of the settlement agreement dated June 18, 

2015, filed as ECF No. 410-2 (the “Settlement Agreement”) between the Customer Plaintiffs 

(“Plaintiffs”), U.S. Bank, National Association (“U.S. Bank”), and Ira Bodenstein (the 

“Trustee”), not individually, but solely as Chapter 7 Trustee for the estate of Peregrine Financial 

Group, Inc., it is hereby ORDERED that:

1. This Order incorporates by reference the definitions in the Settlement Agreement

(previously filed as ECF No. 410-2), and all terms used herein shall have the same meanings set 

forth in the Settlement Agreement. As set forth in the Preliminary Approval Order (ECF No. 

417), dated June 23, 2015, the previously certified Class is defined as follows:

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All persons or entities who held money, property, and/or securities pursuant to 7 U.S.C. § 

6d(a)(2) at PFG as of July 10, 2012.

2. The Court approves the Plan of Allocation of the Settlement proceeds (net of 

attorneys’ fees and reimbursed expenses) to the Class, as proposed by Class Counsel (Exhibit D 

to the Settlement Agreement, ECF No. 410-7). The Plan provides, inter alia, that the proceeds of 

the Settlement, net of Court-approved attorneys’ fees, costs of litigation, and notice costs (“Net 

Settlement Fund”), be distributed as follows:

• For “New Claimants” (Class members who do not have allowed claims in the 

bankruptcy action), each “shall receive a share of the Net Settlement Fund that is 

determined by multiplying the amount of such New Claimant’s timely claim as 

approved in the Customer Class Action by a payment ratio computed as: the Net 

Settlement Fund divided by $215,000,000.00.” Id. ¶ 5. The amount to be 

distributed to New Claimants is capped at 50% of the Net Settlement Fund. Id. ¶ 

6.

• For Class members with allowed claims in the bankruptcy case: “After the 

determination of the aggregate amount to be disbursed to the New Claimants, the 

balance of the Net Settlement Fund shall be transferred to the Trustee for

distribution to Settlement Class Members who hold Allowed Claims in the 

Bankruptcy Case.” Id. ¶ 7.

SO ORDERED this 13th day of October 2015.

_____________________________

Hon. Sara L. Ellis

U.S. District Court for the Northern District 

of Illinois

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