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In re Marsh ERISA Litig.

United States District Court for the Southern District of New York

January 29, 2010, Decided; January 29, 2010, Filed

04 Civ. 8157 (CM)

Opinion

 [*135]  DECISION AND ORDER APPROVING THE CLASS ACTION SETTLEMENT; CERTIFYING THE CLASS FOR SETTLEMENT PURPOSES; APPROVING THE PLAN OF ALLOCATION; AWARDING ATTORNEYS' FEES AND EXPENSES; GRANTING CASE CONTRIBUTION  [**6] AWARDS; AND REJECTING THE OBJECTIONS RECEIVED

McMahon, J.:

INTRODUCTION

Named Plaintiffs Donald Hundley, Conrad Simon and Leticia Hernandez ("Named. Plaintiffs"), on behalf of themselves and the Class (as defined herein), move for (l) final approval of a proposed settlement of $ 35 million (the "Settlement") with Marsh & McLennan Companies, Inc. ("MMC") and the various other individuals and entities named as defendants in this consolidated litigation (collectively, "Defendants"); (2) certification of the Class for Settlement purposes; and (3) final approval of the Revised Plan of Allocation (the "Plan of Allocation").

The Court preliminarily approved the Settlement in its Preliminary Approval Order of November 10, 2009 (Docket No. 131.) Not one potential Class member objects to the amount of the proposed Settlement or to any of its terms; only two potential Class members have objected to the amount of attorneys' fees requested. For the reasons stated below, the Court approves the Settlement, concluding that it is fair, reasonable and adequate. The Court also certifies the Class for Settlement purposes and approves the Plan of Allocation.

In addition, Plaintiffs' Counsel 1 move for (1) an  [**7] award of attorneys' fees in the amount of $ 11,665,500 (33.33% of the recovery); (2) reimbursement of litigation expenses of $ 1,270,915.40; and (3) case contribution awards of $ 15,000 for each of the Named Plaintiffs. For the reasons stated below, the Court grants all three requests.

 [*136]  BACKGROUND

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265 F.R.D. 128 *; 2010 U.S. Dist. LEXIS 8325 **

IN RE MARSH ERISA LITIGATION

Prior History: In re Marsh Erisa Litig., 2006 U.S. Dist. LEXIS 90631 (S.D.N.Y., Dec. 14, 2006)

CORE TERMS

Settlement, Plaintiffs', Notice, cases, class action, class member, fiduciary, expenses, awards, named plaintiff, requested fee, approving, discovery, factors, attorney's fees, risks, company stock, negotiations, damages, courts, stock, proposed settlement, class certification, experienced, multiplier, parties, Global, reimbursement, calculated, lodestar

Civil Procedure, Special Proceedings, Class Actions, Compromise & Settlement, Evidence, Inferences & Presumptions, Presumptions, Judicial Discretion, Prerequisites for Class Action, General Overview, Numerosity, Certification of Classes, Commonality, Pensions & Benefits Law, Civil Litigation, Causes of Action, Breach of Fiduciary Duty, Typicality, Adequacy of Representation, Maintainability, Notice of Class Action, Constitutional Law, Fundamental Rights, Procedural Due Process, Scope of Protection, Class Attorneys, Fees, Costs & Attorney Fees, Attorney Fees & Expenses, Reasonable Fees, Costs, Class Members, Named Members