Friel v. Dapper Labs, Inc. et al
| New York Southern District Court | |
| Judge: | Victor Marrero |
| Case #: | 1:21-cv-05837 |
| Nature of Suit | 190 Contract - Other Contract |
| Cause | 15:77 Securities Fraud |
| Case Filed: | Jul 07, 2021 |
| Terminated: | Oct 28, 2024 |
| Last checked: Monday Jan 03, 2022 3:36 AM EST |
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Defendant
Dapper Labs, Inc.
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Represented By
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Defendant
Roham Gharegozlou
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Lead Plaintiff
Gary Leuis
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Represented By
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Plaintiff
Jeeun Friel
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Plaintiff
John Austin
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Represented By
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| Docket last updated: 11/15/2024 11:59 PM EST |
| Monday, October 28, 2024 | ||
| 87 | 87
10
pgs
order
Judgment ~Util - Terminate Motions
Mon 10/28 1:19 PM
ORDER AND FINAL JUDGMENT. IS HEREBY ORDERED, ADJUDGED AND DECREEDTHAT: The Court has jurisdiction over the subject matter of the Action, Plaintiffs, all Settlement Class Members and Defendants. The Court hereby finally certifies this action as a class action for purposes of the Settlement, pursuant to Rule 23(a) and (b)(3) of the Federal Rules of Civil Procedure, on behalf of all Persons who purchased or acquired NBA Top Shot Moments ("Moments") during the Settlement Class Period of June 15, 2020 to December 27, 2021, both dates inclusive. Excluded from the class are: (1) Defendants; (2) the officers and directors of Dapper Labs, Inc. ("Dapper") at all relevant times; (3) members of immediate families and their legal representatives, heirs, successors or assigns of any excluded Persons; and (4) any entity in which Defendants or any excluded Persons have or had a controlling interest and as further set forth in this Judgment. Pursuant to Rule 23 of the Federal Rules of Civil Procedure, for the purposes of this Settlement only, Plaintiffs are certified as the class representatives on behalf of the Settlement Class ("Class Representatives") and Class Counsel previously selected by Plaintiffs and appointed by the Court is hereby appointed as Class Counsel for the Settlement Class ("Class Counsel"). Pursuant to Rule 23 of the Federal Rules of Civil Procedure, the Court finds that the Settlement Stipulation and Settlement, including the Settlement Amount of $4,000,000 and the Business Changes, are, in all respects, fair, reasonable, and adequate and in the best interests of the Settlement Class and each of the Settlement Class Members. Accordingly, the Settlement embodied in the Settlement Stipulation is hereby finally approved in all respects and shall be consummated in accordance with its terms and provisions. The Parties are hereby directed to perform the terms of the Settlement Stipulation. The Action and the Amended Complaint for Violation of the Securities Act of 1933 ("Complaint"), as well as all of the Released Claims, are hereby dismissed with prejudice. The Parties shall bear their own costs and expenses, except as and to the extent provided in the Settlement Stipulation and herein. In accordance with the terms of the Settlement Stipulation, each of the Released Parties hereby forever releases, relinquishes, and discharges all other Released Parties from all Released Claims. The Released Parties, and anyone acting or purporting to act for any of them, are hereby permanently barred and enjoined from asserting, commencing, prosecuting, instituting, assisting, instigating, or in any way participating in the commencement or prosecution of any action or other proceeding, in any forum, asserting any Released Claims against any of the Released Parties. This provision does not, however, bar any of the Released Parties from bringing an action or claim to enforce the terms of the Settlement Stipulation or this Order and Final Judgment. In accordance with the terms of the Settlement Stipulation, each of the Defendants, on behalf of themselves, and, as applicable, their heirs, executors, predecessors, successors, assigns, agents, and insurers, hereby forever releases, relinquishes, and discharges any and all Defendant Claims against the Class Representatives, Settlement Class Members, and Class Counsel which arise out of, concern or relate to the institution, prosecution, settlement, or dismissal of the Action. Neither this Order and Final Judgment, the Settlement Stipulation, nor any of the negotiations, documents or proceedings connected with them shall be: (a) referred to or used against Defendants or against the Class Representatives or the Settlement Class as evidence of wrongdoing by anyone; (b) construed against Defendants or against the Class Representatives or the Settlement Class as an admission or concession that the consideration to be given hereunder represents the amount which could be or would have been recovered after trial and as further set forth in this Judgment; Exclusive jurisdiction is hereby retained over Defendants and the Settlement Class Members for all matters relating to the Action, including the administration, interpretation, effectuation or enforcement of the Settlement Stipulation and this Order and Final Judgment, and including any application for fees and expenses incurred in connection with administering and distributing the settlement proceeds to the Settlement Class Members. There is no reason for delay in the entry of this Order and Final Judgment and immediate entry by the Clerk of the Court is directed pursuant to Rule 54(b) of the Federal Rules of Civil Procedure., Motions terminated:79 MOTION for Settlement (Final Approval of Settlement) . filed by Gary Leuis, John Austin. (Signed by Judge Victor Marrero on 10/28/24) (yv) |
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| 86 | 86
3
pgs
order
Order on Motion for Attorney Fees
Mon 10/28 1:07 PM
ORDER AWARDING ATTORNEYS' FEES, REIMBURSEMENT OF LITIGATION EXPENSES, AND AWARDS TO PLAINTIFFS granting75 Motion for Attorney Fees. It is hereby ordered: Rosen Law is awarded one-third of the Settlement Fund or $1,333,333.33 as attorneys' fees in this action, together with a proportionate share of the interest earned on the fund, at the same rate as earned by the balance of the fund, from the date of the establishment of the fund to the date of payment. Lead Counsel shall be awarded expenses in the amount of $20,549.07, with interest, as described above. Plaintiffs shall be awarded $10,000 each as reimbursement for their lost time and expenses in connection with their prosecution of the Action. Except as otherwise provided herein, the attorneys fees, reimbursement of expenses, and awards to Plaintiffs shall be paid in the manner and procedure provided for in the Stipulation. IT IS SO ORDERED. (Signed by Judge Victor Marrero on 10/28/24) (yv) |
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| Friday, October 25, 2024 | ||
| 85 | 85
minutes
Fairness Hearing
Fri 10/25 3:30 PM
Minute Entry for proceedings held before Judge Victor Marrero: Fairness Hearing held on 10/25/2024. Phillip Kim and Michael Cohen for plaintiffs. Kenneth Herzinger present for defendants. Court reporter present. The Court heard arguments for final approval of class action settlement and the motion for award of attorneys' fees and expenses. The Court found the proposed settlement and requested fees and award to be fair and reasonable. (Court Reporter Carly Davis) (DeYoung, Sarah) |
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| Tuesday, October 22, 2024 | ||
| 84 | 84
misc
Letter
Tue 10/22 12:38 PM
LETTER addressed to Judge Victor Marrero from Phillip Kim dated October 22, 2024 re: Update to Court Regarding Settlement Process. Document filed by Gary Leuis, John Austin..(Kim, Phillip) |
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Att: 1
Affidavit of Sarah Evans Concerning Update on Request for Exclusion Received,
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Att: 2
Proposed Order and Final Judgment
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