Paliare Roland Rosenberg Rothstein LLP

The Representative Plaintiff in a certified class action sought court approval for a $4.2 million settlement with the defendant auditor, approval of Class Counsel's contingency fees and disbursements, and an honorarium for the Representative Plaintiff.

The court approved the settlement, finding it fair, reasonable, and in the best interests of the class, considering the litigation risks and protracted nature of the case.

Class Counsel's fees and disbursements, and the Representative Plaintiff's honorarium, were also approved.

This decision addresses an application by the Representative Plaintiffs and Class Counsel in a settled class action for various relief related to the administration and distribution of an $80 million settlement fund.

The application sought orders to adjust small claims, distribute surplus monies, approve payment of the remaining legal fee holdback, approve disbursements for Class Counsel and other legal services, and establish a holdback for future disbursements.

The Ontario court, after conferring with parallel proceedings in British Columbia and Québec, granted the application, adopting the analysis of the decisions from the other two provinces.