- 7 - In July 1992, the parties reached a settlement without trial. Thereupon, the parties filed a joint stipulation of settlement with the District Court. Pursuant to this joint stipulation of settlement, AHP agreed to pay $24 million in full satisfaction of all of the claims brought against it in the class action. The joint stipulation of settlement did not allocate the settlement proceeds for any particular claim. However, the proceeds were allocated among court-approved expenses, class counsel, the Union, and class members. The joint stipulation of settlement provided guidelines pursuant to which an independent trustee would determine the appropriate amount to compensate individual class members for their demonstrated employment- related economic harm. Pursuant to this stipulation, economic harm was to be measured based upon factors such as age, duration of employment with the company, salary history, and subsequent employment history, including the date of new employment and salary history. Noneconomic injury was not a factor to be considered in the independent trustee's allocation of the recovery to the class members. Subsequently, class members, including petitioner, received a notice of proposed settlement and settlement hearing. The notice of proposed settlement reiterated that the lawsuit sought to recover for harm resulting from the Defendants' violation of the RICO Act and interference with the class members' prospectivePage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011