- 4 - (8) The individual’s claim is then totaled. (9) The remaining portion of the settlement, that is, the total settlement minus the amount allocated for participation and back wages is apportioned in the same ratio as that of each individual’s calculated back wages to the total of the calculated back wages for the class. (10) The sum of the participation allocation, the back wages allocation and the liquidated damages allocation equals each individual’s “Total Recovery.” (11) From the individual’s total recovery the contractual attorney fee is then subtracted. (12) Each individual is then allocated a share of the costs of the litigation based on the same ratio as that person’s total recovery to the total settlement proceeds. That share of the costs is then subtracted. (13) This leaves each individual with a Net Cash Recovery. The settlement allocation was approved by the court on January 20, 1995. On January 21, 1995, the plaintiffs entered into a Settlement Agreement and Release (settlement agreement) executed by PayLess and the class representatives and approved by the court. The release states the following: 3. Release of PayLess by the petitioner. In exchange for the payment of the amount set forth in paragraph 7 below, . . . Plaintiffs . . . hereby release and discharge PayLess . . . from all actions, claims, or demands for damages, liabilities, costs, or expenses, which the Plaintiffs, individually or collectively, have against PayLess on account of, or in any way arising out of the claims that were asserted or that could have been asserted in the Lawsuit by the Plaintiffs, which Lawsuit is hereby acknowledged as not fully plead [sic], further including, but not limited to, claims for personal injuries, intentional infliction of emotional distress, negligent inflictionPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011