Dunleavy

Dunleavy v. Nadler

Good Law
213 F.3d 454·2000 WL 654672
United States Court of Appeals for the Ninth CircuitMay 22, 2000No. 99-15361California4,209 words

Opinion

Lead Opinion

Sneed, J.

Appellant Michael Nadler challenges the district court’s approval of a $1.725 million (plus accrued interest) settlement agreement (the “Settlement”) and plan of allocating the Settlement (the “Plan of Distribution”) in a securities class action litigation. This litigation was brought on behalf of investors who purchased Mego common stock from January 14, 1994 through and including November 9, 1995 (the “Class Period”) against Mego Financial Corp. (“Mego”), Deloitte & Touche, LLP (“Deloitte”), and a number of individuals 1 (collectively, Mego, Deloitte & individual defendants are referred to as “Defendants”).

Nadler argues that the district court abused its discretion by: (1) approving the Settlement; (2) approving the Plan of Distribution; (3) certifying the class for Settlement; (4) awarding a substantial fee award to counsel for plaintiffs (“Class Counsel”); and (5) awarding an additional incentive award to the representatives of the class.

We have jurisdiction pursuant to 28 U.S.C. § 1291 and we affirm.

I

Defendant Mego is a financial services company that specializes in financing time *457 share land sales and Title I home improvement loans insured by HUD. The individual…

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