The Amount Tangerine Must Pay In Class Action Legal Fees Settlement Will Be Revealed, In NDA Invalidation Matter In Manhattan Federal Court.

This morning, the able USDC Judge Paul Gardephe has given the Team Tangerine the option of either indicating how much in legal fees were spent, and going forward with the settlement -- which ends this pure loser piece of litigation, on his side. . . or, he may reject settling and go to trial -- and almost certainly lose a multiple of what the settlement offer now provides.

Correctly noting that the law is clear that these figures are extremely relevant: the nature, percentages and amount of fees, and incentive payments (called "Lodestar" amounts in this context). . . to a decision by any given plaintiff, to enter the class, and accept the net money offered immediately -- or, instead sue on their own, individually -- and very likely win, and win perhaps get much more -- but (at a minimum have to wait years), for certain. . . (by which time Tangerine might be insolvent or incarcerated and otherwise unable to pay). So. . . here is the order, without additional adu:

. . .The parties request that this Court seal those portions of their settlement agreement referencing the amount of attorneys' fees and the incentive award. (Dkt. No. 103) None of the case citations submitted by the parties suggests that sealing is appropriate under the standard set forth in Lugosch v. Pyramid Co. of Onondaga, 435 F.3d 110 (2d Cir. 2006). Accordingly, the motion to seal (Dkt. No. 103) is denied.

The Court notes, however, that the settlement agreement contains Plaintiff's counsel's bank account number. Pursuant to Federal Rule of Civil Procedure 5.2 and this Court's Rule of Individual Practice II.A, "a party or nonparty making [such a] filing may include only... the last four digits of the financial account number." Fed. R. Civ. P. 5.2(a)(4).

Accordingly, in the event that the parties wish to proceed with their settlement, the account number referenced in the settlement agreement may be redacted to reflect only the last four digits. The parties are directed to file a letter with the Court by February 3, 2023 indicating whether they still seek approval of the settlement class (see Dkt. No. 102).

The Clerk of Court is directed to terminate the motion to seal (Dkt. No. 103).

SO ORDERED. (Signed by Judge Paul G. Gardephe on 1/30/2023). . . .

Put that in your pipe, and smoke it -- Baby T. Heh.

नमस्ते