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AEA Investors LP
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Order | Filed: December 01, 2022 In re Evoqua Water Technologies Corp. Securities Litigation
Securities/Commodities | New York Southern
Order
ORDER APPROVING DISTRIBUTION PLAN granting 158 Motion for Disbursement of Funds. NOW, THEREFORE, IT IS HEREBY ORDERED THAT: 1. This Order incorporates by reference the definitions in the Stipulation and Agreement of Settlement dated May 28, 2021 (ECF No. 133-1) ("Stipulation"), and the Miller Declaration, and all terms used in this Order shall have the same meanings as defined in the Stipulation and the Miller Declaration. 2. This Court has jurisdiction over the subject ma tter of the Action and over all parties to the Action, including all Settlement Class Members. 3. Plaintiffs' plan for distribution of the Net Settlement Fund to Authorized Claimants is APPROVED. Accordingly: (a)The administrative determin ations of the Court-approved Claims Administrator, A.B. Data, Ltd.'s Class Action Administration Company ("A.B. Data"), to accept the Timely Eligible Claims stated in Exhibit D to the Miller Declaration and the Late But Otherwise E ligible Claims stated in Exhibit E to the Miller Declaration are adopted. (b) The Claims Administrator's administrative determinations to reject the Rejected Claims, as stated in Exhibit F to the Miller Declaration, are adopted. (c) A.B. Dat a is directed to conduct the Initial Distribution of the Net Settlement Fund after deducting all payments previously allowed, payments approved by this Order, and any estimated taxes, the costs of preparing appropriate tax returns, and any escrow fees, while maintaining a 5% reserve from the Net Settlement Fund to address any tax liability or claims administration-related contingencies that may arise. Specifically, as stated in paragraph 39(a) of the Miller Declaration: (1) A.B. Data will calculate award amounts for all Authorized Claimants as if the entire Net Settlement Fund were to be distributed now. A.B. Data will calculate each Authorized Claimant's pro rata share of the Net Settlement Fund based on the amou nt of the Authorized Claimant's Recognized Claim in comparison to the total Recognized Claims of all Authorized Claimants; (2) A.B. Data will then eliminate from the Initial Distribution any Authorized Claimant whose total pro rata share o f the Net Settlement Fund is less than $10.00. These Claimants will not receive any payment from the Net Settlement Fund and will be so notified by A.B. Data; (3) After eliminating Claimants who would have received less than $10.00, A.B. Data will recalculate the pro rata shares of the Net Settlement Fund for Authorized Claimants who would have received $10.00 or more based on the amount of the Authorized Claimant's Recognized Claim in comparison to the total Recogniz ed Claims of all Authorized Claimants who would have received $10.00 or more. This pro rata share is the Authorized Claimant's "Distribution Amount"; (4) Authorized Claimants whose Distribution Amount calculates to less than 036;200.00 will be paid their full Distribution Amount in the Initial Distribution ("Claims Paid in Full"). These Authorized Claimants will receive no additional funds in subsequent distributions; and (5) 95% of the remaining bala nce of the Net Settlement Fund will be distributed pro rata to Authorized Claimants whose Distribution Amount calculates to $200.00 or more. The remaining 5% of the Net Settlement Fund will be held in the Reserve to address any tax liabi lity or claims administration-related contingencies that may arise following the Initial Distribution. To the extent the Reserve is not depleted, the remainder will be distributed in the Second Distribution described in subparagraph (f) below. (d) To encourage Authorized Claimants to cash their checks promptly, all distribution checks will bear the following notation: "CASH PROMPTLY. VOID AND SUBJECT TO REDISTRIBUTION IF NOT CASHED BY [DATE 90 DAYS AFTER ISSUE DATE]." Lead Couns el and A.B. Data are authorized to take appropriate action to locate and contact Authorized Claimants who have not cashed their checks within said time as detailed in paragraph 39(b) of the Miller Declaration. (e)Authorized Claimants who do not cas h their Initial Distribution checks within the time allotted or on the conditions stated in paragraph 39(b) of the Miller Declaration will irrevocably forfeit all recovery from the Settlement, and the funds allocated to these stale-dated checks will be available to be distributed to other Authorized Claimants in the Second Distribution. Similarly, Authorized Claimants who do not cash their distribution checks in the Second Distribution or subsequent distributions, should such distributi ons occur, within the time allotted or on the conditions stated in paragraph 39(b) of the Miller Declaration will irrevocably forfeit any further recovery from the Net Settlement Fund. (f) Afte... (truncated)
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Misc | Filed: November 23, 2022 | Entered: November 23, 2022 In re Evoqua Water Technologies Corp. Securities Litigation
Securities/Commodities | New York Southern
Notice to Court Regarding Proposed Order
***NOTICE TO COURT REGARDING PROPOSED ORDER. Document No. 161 Proposed Order was reviewed and approved as to form. (km)
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Misc | Filed: November 23, 2022 | Entered: November 23, 2022 In re Evoqua Water Technologies Corp. Securities Litigation
Securities/Commodities | New York Southern
Proposed Order
PROPOSED ORDER. Document filed by City of Omaha Police and Fire Retirement System, Louisiana Sheriffs Pension & Relief Fund. Related Document Number: 158 ..(Robinson, Jeremy) Proposed Order to be reviewed by Clerk's Office staff.
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