772 F.3d 125 (2nd Cir. 2014), 13-1573(L), In re Bank of America Corp.

Docket Nº:13-1573(L), 13-1677(con), 13-1798(con), 13-1830(con), 13-1853(con)
Citation:772 F.3d 125
Opinion Judge:PER CURIAM:
Party Name:IN RE BANK OF AMERICA CORP. SECURITIES, DERIVATIVE, AND EMPLOYEE RETIREMENT INCOME SECURITY ACT (ERISA) LITIGATION; MICHAEL WASHENIK, ORLOFF FAMILY TRUST DTD 10/3/91, ORLOFF FAMILY TRUST DTD 12/31/01, ST. STEPHEN, INC., LEONARD MASIOWSKI, MARYANN MASIOWSKI, MICHAEL J. RINIS, BABETTE RINIS, MICHAEL J. RINIS, IRA, [1] Objectors--Appellants, CHARLES N
Attorney:FOR APPELLANTS: STEVE A. MILLER, Steve A. Miller, P.C., Denver, Colorado, for Objector-Appellant Michael Washenik. N. ALBERT BACHARACH, JR., N. Albert Bacharach, Jr., PA, Gainesville, Florida, for Objectors-Appellants Leonard Masiowski, MaryAnn Masiowski, Michael J. Rinis, Babette Rinis; and Mich...
Judge Panel:Before: WINTER, PARKER, AND HALL, Circuit Judges.
Case Date:November 05, 2014
Court:United States Courts of Appeals, Court of Appeals for the Second Circuit
 
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772 F.3d 125 (2nd Cir. 2014)

IN RE BANK OF AMERICA CORP. SECURITIES, DERIVATIVE, AND EMPLOYEE RETIREMENT INCOME SECURITY ACT (ERISA) LITIGATION; MICHAEL WASHENIK, ORLOFF FAMILY TRUST DTD 10/3/91, ORLOFF FAMILY TRUST DTD 12/31/01, ST. STEPHEN, INC., LEONARD MASIOWSKI, MARYANN MASIOWSKI, MICHAEL J. RINIS, BABETTE RINIS, MICHAEL J. RINIS, IRA, 1 Objectors--Appellants, CHARLES N. DORNFEST, 2 Plaintiff,

v.

PUBLIC PENSION FUNDS, THE PUBLIC PENSION FUND GROUP, STEVEN J. SKLAR, AS (IRA ACCOUNT BENEFICIARY), ON BEHALF OF HIMSELF AND ALL OTHERS SIMILARLY SITUATED, RHONDA WILSON, ALMA ALVAREZ, MICHAEL R. BAHNMAIER, MARK ADAMS, ELIZABETH EAGEN, VERNON C. DAILEY, RICHARD ADAME, ARLENE KAHN, PETRA CHATMAN, STICHTING PENSIOENFONDS ABP, GRANT MITCHELL, NEW YORK STATE TEACHERS' RETIREMENT SYSTEM, PUBLIC EMPLOYEES' RETIREMENT ASSOCIATION OF COLORADO, STEVE R. GRABER, INDIVIDUALLY, AS ASSIGNEE OF CLAIMS OF THE SRG 2008 TRUST, SCHWAB SP500 INDEX FUND, SCHWAB 1000 INDEX FUND, SCHWAB INSTITUTIONAL SELECT SP500 FUND, SCHWAB DIVIDEND EQUITY FUND, SCHWAB CORE EQUITY FUND, SCHWAB PREMIER EQUITY FUND, SCHWAB FUNDAMENTAL U.S. LARGE COMPANY INDEX FUND, SCHWAB TOTAL STOCK MARKET INDEX FUND, SCHWAB SP500 INDEX PORTFOLIO, SCHWAB MARKETTRACK GROWTH PORTFOLIO, SCHWAB MARKETTRACK BALANCED PORTFOLIO, SCHWAB INVESTMENTS, SCHWAB CAPITAL TRUST, DR. SALOMON MELGEN, FLOR MELGEN, SFM HOLDINGS LIMITED PARTNERSHIP, INTERNATIONAL FUND MANAGEMENT S.A., DEKA INTERNATIONAL S.A. LUXEMBURG, DEKA INVESTMENT GMBH, DI, AARON KATZ, JOEL KATZ, SYLVIA WEISSMANN, PARKER FAMILY INVESTMENTS L.L.C., JEFFREY R. PARKER, THE 1997 JEFFREY R. PARKER FAMILY TRUST, DREW E. PARKER, THE 1994 DREW E. PARKER FAMILY TRUST, KEITH D. PARKER, JULIE M. SORIN, THE 1991 JEFFREY R. PARKER FAMILY TRUST, THE 1994 JULIE P. MANTELL FAMILY TRUST, MICHAEL A. PARKER, MARK D. WENDER, ELLIOT WENDER, PENINA WENDER, STANLEY L. WENDER, RAZELLE M. WENDER, JILL W. GOLDSTEIN, JERRY E. FINGER, AMBASSADOR LIFE INSURANCE COMPANY, SELECT INVESTORS EXCHANGE FUND, L.P., RICHARD FINGER, JEF FAMILY TRUST, 1976 REAL ESTATE TRUST, WALTER FINGER, THE JERRY E. FINGER FAMILY TRUST D/T/D 12/28/1989, THE JERRY E. FINGER FAMILY TRUST, LEO R. JALENAK, PEGGY E. JALENAK, KERS & CO., ROBERT GEGNAS, 198 LOCHA DRIVE, JUPITER, FL 334587752, STEVEN L. SHAPIRO, HARVEY M. MITNICK, NATHAN A. FRIEDMAN, BONNIE FRIEDMAN, KENNETH A. CIULLO, JOANNA CIULLO, THOMAS P. DINAPOLI, COMPTROLLER OF THE STATE OF NEW YORK, AS ADMINISTRATIVE HEAD OF THE NEW YORK STATE AND LOCAL RETIREMENT SYSTEMS AND AS SOLE TRUSTEE OF THE NEW YORK STATE COMMON RETIREMENT FUND, SCHWAB FINANCIAL SERVICES FUND, Plaintiffs--Appellees,

v.

BANK OF AMERICA CORP., GARY A. CARLIN, NELSON CHAI, KENNETH D. LEWIS, JOHN A. THAIN, FRANK P. BRAMBLE, SR., WILLIAM BARNET, III, JOHN T. COLLINS, GARY L. COUNTRYMAN, TOMMY R. FRANKS, CHARLES K. GIFFORD, MONICA C. LOZANO, WALTER E. MASSEY, THOMAS J. MAY, PATRICIA E. MITCHELL, THOMAS M. RYAN, MEREDITH R. SPANGLER, ROBERT L. TILLMAN, JACKIE M. WARD, NEIL A. COTTY, JOE L. PRICE, BANC OF AMERICA SECURITIES L.L.C., MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, BANK OF AMERICA, J. STEELE ALPHIN, AMY WOODS BRINKLEY, BARBARA J. DESOER, LIAM E. MCGEE, TIMOTHY J. MAYOPOULOS, BRIAN T. MOYNIHAN, BRUCE L. HAMMONDS, RICHARD K. STRUTHERS, BANK OF AMERICA CORPORATION CORPORATE BENEFITS COMMITTEE DEFENDANTS, BANK OF AMERICA COMPENSATION AND BENEFITS COMMITTEE DEFENDANTS, KEITH T. BANKS, TERESA BRENNER, CAROL T. CHRIST, ARMANDO M. CODINA, VIRGIS W. COLBERT, GREGORY CURL, JOHN D. FINNEGAN, GREGORY FLEMING, FOX-PITT KELTON COCHRAN CARONIA WALLER (USA) L.L.C., J.C. FLOWERS & CO., L.L.C., JUDITH MAYHEW JONAS, AULANA L. PETERS, JOSEPH W. PRUEHER, ANN N. REESE, MICHAEL ROSS, CHARLES O. ROSSOTTI, PETER STINGI, THOMAS K. MONTAG, KENNETH D. DAVIS, MARTIN I. FINEBERG, KENNETH A. LEWIS, MERRILL LYNCH & CO., INC., 4 WORLD FINANCIAL CENTER 3 NEW YORK, N.Y. 10080, BANK OF AMERICA CORPORATION, 100 N. TRYON STREET, CHARLOTTE, NC 28255, JOSEPH L. PRICE, JEREMY FINEBERG, O. TEMPLE SLOAN, JR., Defendants--Appellees, PETER KRAUS, Defendant

Nos. 13-1573(L), 13-1677(con), 13-1798(con), 13-1830(con), 13-1853(con)

United States Court of Appeals, Second Circuit

November 5, 2014

Argued April 22, 2014

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Appeal from the United States District Court for the Southern District of New York (Castel, J.) approving the final settlement of a class action lawsuit brought against defendants. Objectors-appellants challenge the district court's approval, including the distribution of funds under the settlement and the award of attorneys' fees. We AFFIRM the district court's approval of the final settlement.

FOR APPELLANTS: STEVE A. MILLER, Steve A. Miller, P.C., Denver, Colorado, for Objector-Appellant Michael Washenik.

N. ALBERT BACHARACH, JR., N. Albert Bacharach, Jr., PA, Gainesville, Florida, for Objectors-Appellants Leonard Masiowski, MaryAnn Masiowski, Michael J. Rinis, Babette Rinis; and Michael J. Rinis, IRA.

FOR APPELLEES: ROBERT N. KAPLAN, Kaplan Fox & Kilsheimer LLP, New York, New York, (Steven B. Singer, John J. Rizio-Hamilton, Bernstein Litowitz Berger & Grossman LLP, New York, New York; David Kessler, Sharan Nirmul, Kessler Topaz Meltzer & Check LLP, Radnor, Pennsylvania; Frederic S. Fox, Kaplan Fox & Kilsheimer LLP, New York, New York, on the brief) for Plaintiffs-Appellees Public Pension Funds and Grant Mitchell.

DANIEL J. KRAMER, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, New York, (Brad S. Karp, Audra J. Soloway, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, New York; Mitchell A. Lowenthal, Lewis J. Limin, Cleary Gottlieb Steen & Hamilton LLP, New York, New York; Julia Guttman, Baker Botts LLP, Washington D.C.; Colby A. Smith, Debevoise & Plimpton LLP, Washington D.C.; Adam S. Hakki, Shearman & Sterling LLP, New York, New York, on the brief) for Defendants-Appellees.

Before: WINTER, PARKER, AND HALL, Circuit Judges.

OPINION

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PER CURIAM:

In this appeal, we consider several challenges to the district court's approval of a settlement agreement between representative plaintiffs and the defendant Bank of America in a class action lawsuit alleging violations of the Securities Act of 1933, 15 U.S.C. § 77a et seq., and the Securities Exchange Act of 1934, 15 U.S.C. § 78a et seq. The underlying litigation traces its origins to Bank of America's negotiations with Merrill Lynch in the Fall of 2008, which culminated in the...

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