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Springer v. Code Rebel Corp.

Class Certified, Settlement Approved in Action Over Securities Law Violations After IPO

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MEMORANDUM OPINION & ORDER

*1  A hearing was held on March 2, 2018, during which time the Court heard Plaintiffs’ Motion for Final Approval of the Class Action Settlement and their Application for Award of Attorneys’ Fees and Expenses and Incentive Award for Class Representatives. The Court had, on June 28, 2017, entered an Order of Preliminary Approval approving notice to the Class, establishing deadlines for objections, and preliminarily approving the Settlement. Dkt. No. 71. Having considered the written submissions of the parties, having held a final fairness hearing, and having considered the arguments offered at the final fairness hearing, it is hereby ordered that the Class is finally certified and the Settlement is finally approved as follows:I. CLASS CERTIFICATIONThe Class is defined as:“[A]ll persons, entities, or legal beneficiaries or participants in any entities who purchased or otherwise acquired Code Rebel securities from the date of its initial public stock offering on or about May 19, 2015, to May 12, 2017 (the ‘Class Period.’). Excluded from the Class are: (a) Such persons or entities who submit valid and timely requests for exclusion from the Class; (b) Settling Defendants, their family members, and their legal representatives, heirs, successors or assigns, and any entity in which any Settling Defendant has or had a controlling interest;” and (c) persons who suffered no compensable losses.Dkt. No. 60 at 7.

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