Westchester County Business Journal 060115 By Wag Magazine

Pursuant to the Supplemental Settlement Agreement, Range will pay Class Counsel any court-approved fees within fifteen (15) days after the following the "Final Disposition Date, " which is defined as the date on which the U. There can therefore be no doubt that the Range and Class Counsel were at palpable arm's-length on the eve of, and at the mediation conducted before former Judge Thomas Frampton on January 30, [2019] No. Pending before the Court in the above-captioned case are the following motions: (1) the Plaintiffs' and Defendant's Joint Motion for Approval of Supplemental Agreement and Stipulation of Settlement, ECF No. Sales Practice Litig. Mr. Rupert also attested that he had reviewed Class Counsel's Application for Supplemental Attorney Fees and came to suspect that many of Mr. 6 million paid to paula marburger hot. Altomare's time entries had been taken from Mr. Rupert's own billing statements.

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This issue was addressed but not disposed of by the Court [Opinion, Doc. The cited exchange in the transcript concerning Range's royalty statements involves an anecdotal point with little probative value when viewed in the context of the entire record. 75 hours prosecuting the claims in the Motion to Enforce and the Class's Rule 60(a) motion and negotiating the Supplemental Settlement Agreement. At the same time, the Court recognizes that Mr. Altomare put considerable effort into litigating the MMBTU issue and negotiating the settlement. $726 million paid to paula marburger now. There a "strong judicial policy" in favor of class action settlements, Ehrheart v. Verizon Wireless, 609 F. 3d 590, 594-95 (3d Cir. According to Range, the Aten and Bigley Objectors collectively realized a benefit of more than $1. But in view of the fact that Class Counsel's own conduct significantly complicated the calculation of class damages and exacerbated the risk of nonpayment, a significantly reduced multiplier is warranted in this case. Under Rule 23(e)(2)(A), the Court must consider whether the class representatives and class counsel have adequately represented the class.

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Subscribe to ITB/RFP alerts. The Court next considers the adequacy of the relief to the class in light of the proposed award of attorney's fees and the timing of payment. Range had calculated damages using two different methodologies and placed the shortfall in the range of $10-$14 million; however, Range had a plausible basis for arguing that $10, 127, 266 was the more accurate estimation, because it was predicated on a detailed analysis of royalties paid to each interest holder and accounted for certain variables that the $14 million figure did not take into account. Rupert, his hourly fee during that time-span ranged from $200 to $250 per hour, ECF No. Future Increase (Limited to 10 Yrs. 93, claiming that Range Resources had intentionally violated its terms by underpaying royalties through the use of various "artifices. " The record reflects that Class Counsel's success in securing a $12 million fund was mainly attributable to his prosecution of that claim. 6 million paid to paula marburger day. Inferring that Range has utilized its royalty payment database as a means of identifying class members and providing notice of the Supplemental Settlement, the objectors contend that this approach fails to address class members who sold their royalty interests years ago. The objectors contend that the Supplemental Settlement presents a windfall for Range. A certain amount of imprecision is therefore permitted. Based upon the foregoing facts, the Court finds by a preponderance of evidence that discovery was sufficient for Class Counsel to assess the value of the class's claims and negotiate a settlement that provides fair compensation, notwithstanding the lack of depositions or more extensive document requests and interrogatories. The amendment will benefit all class members regardless of the state or type of development that is currently associated with a particular lease, due to the possibility that any class member's lease may be subject to shale gas production in the future. The Aten Objectors point out that the motion to enforce raised seven other alleged breaches of the Original Settlement Agreement, aside from the MCF/MMBTU disparity.

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Here, the primary objections to the Supplemental Settlement Agreement center around the release provision and the objectors' argument that the agreement is unsupported by consideration. Presumption of Fairness Criteria. After determining the appropriate percentage-of-recovery to be awarded, courts typically perform a lodestar cross-check. And, as noted, only a very small percentage of the class has lodged objections. In October 2008, the case was removed to this jurisdiction, where it was assigned to then-United States District Judge Sean J. McLaughlin. Altomare asks that the Court award him twenty percent (20%) of these future benefits "as and when they monthly accrue, " although he states that he is "willing to limit his request" to a ten-year period. The publisher chose not to allow downloads for this publication. Mr. Altomare has nevertheless proffered a cross-check computation pursuant to which 2, 721. More recently, in In re Baby Products Antitrust Litigation, the Court of Appeals instructed district courts to also consider "the degree of direct benefit provided to the class" from the proposed settlement.

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The objectors contend that discovery was insufficient because, in their view, Mr. Altomare did not adequately investigate the other claims in the Motion to Enforce, apart from the MCF/MMBTU issue. They cite, for example, Mr. Altomare's apparent unawareness that Range reported both MMBTU and MCF figures on its statements. The Court also recognizes that class members were themselves on constructive notice of the MMBTU issue, in that the March 17, 2011 Order Amending Leases was a matter of public record and Range's computation of shale gas royalties based on MMBTUs was disclosed on its monthly royalty statements. Contact our webmaster. 23, Advisory Committee Notes to 2018 Amendments (noting that subsections 23(e)(2)(A) and (B) "identify matters that might be described as 'procedural' concerns, looking to the conduct of the litigation and of the negotiations leading up to the proposed settlement"). Ii) Charging "double" for Purchased Fuel. Separate from this, the Bigley Objectors argued that the fee request is excessive under the circumstances of the case and in light of the results achieved by Mr. Altomare. On that point, the record shows that Range changed its accounting practices and has been including FCI expenses in the PPC Cap since approximately July of 2018. at 131; ECF No. Altomare believed this defense to be meritorious. Two of these proposed alternatives -- voiding the release clause in the Supplemental Settlement Agreement and/or allowing objectors to opt out of the settlement -- have already been discussed and rejected. The Court has previously touched on, e. g., the "maturity of the underlying substantive issues, as measured by... the extent of discovery and other factors that bear on the ability to assess the probable outcome of a trial, " "whether any provisions for attorneys' fees are reasonable, " and "whether the procedure for processing individual claims under the settlement is fair and reasonable. If you do not find what you are looking for you may contact. This favors approval of the Supplemental Settlement.

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For the reasons discussed, these considerations support the fairness and adequacy of the settlement, once adjustments are made to Class Counsel's fee award to maximize the class's recovery. Meanwhile, Mr. Altomare undertook a revision of his own damages calculation in light of the information he had received from Range. With respect to costs attributable to the transportation of NGLs, Range took the position that it was entitled to deduct these costs without regard to the PPC cap due to a distinction in the Original Settlement Agreement between NGLs and gas. Any such award of costs and fees paid by Range shall be credited against and deducted from the Gross Settlement Amount in accordance with Paragraph 2(a). Additional discovery and litigation is also likely to be costly, given the specialized accounting matters at issue, the number of years in question, and the size of the class. For these reasons, the Supplemental Settlement Agreement is supported by adequate consideration and does not constitute an inadequate, unfair, or unreasonable resolution of the Class's claims.

The parties have submitted their responses to the Court's inquiries. As such, they are not members of the class. They insist that the Supplemental Settlement fails to account for other substantial areas of underpayment, which they feel were not sufficiently investigated. Because of the non-static nature of oil and gas development, every class member's lease was amended in 2011 to include all of the terms set forth in the Order Amending Leases. 25 figure by adding in one half of the hours he originally spent litigating the class claims. They posit that the release should be limited to only the MCF/MMBTU claim, leaving class members free to sue Range on the other claims that were -- or could have been -- raised in the Motion to Enforce. The Court denied the motion as procedurally improper because there was no legal basis for striking the affidavit from the record.