Common use of Why is there a Settlement Clause in Contracts

Why is there a Settlement. The Court dismissed or granted summary judgment to Defendants as to all claims other than the portion of Count V of the Corrected Amended Complaint relating to the failure to adopt a lower cost share class of the TIAA-CREF Lifecycle Funds. The Court has not finally decided the final claim. Instead, the Class Representative and Defendants have agreed to the Settlement of that claim. The Settlement is the product of extensive negotiations between Class Counsel and Defendants’ counsel. The parties to the Settlement have taken into account the uncertainty and risks of litigation and have concluded that it is desirable to settle on the terms and conditions set forth in the Settlement Agreement. The Class Representative and Class Counsel, who are highly experienced in this kind of matter, believe that the Settlement is best for all Class Members.

Why is there a Settlement. The Court dismissed or granted summary judgment to Defendants as to all claims other than the portion of Count V of the Corrected Amended Complaint relating to the failure to adopt a lower cost share class of the TIAA-CREF Lifecycle Funds. The Court has not finally decided reached a final decision as to the final claimClass Representatives’ claims. Instead, the Class Representative Representatives and Defendants Reliance Trust Company have agreed to the Settlement of that claimSettlement. The Settlement is the product of extensive negotiations between Class Counsel and Defendants’ Reliance Trust Company’s counsel, including an all-day session with a private national mediator and subsequent additional arm’s length negotiations. The Settling Parties only reached a settlement after completing an extensive two-week trial. The parties to the Settlement have taken into account the uncertainty and risks of litigation and have concluded that it is desirable to settle on the terms and conditions set forth in the Settlement Agreement. The Class Representative Representatives and Class Counsel, who are highly experienced in this kind of matter, believe that the Settlement is best for all Class Members.

Why is there a Settlement. The Court dismissed or granted summary judgment to Defendants as to all claims other than the portion of Count V of the Corrected Amended Complaint relating to the failure to adopt a lower cost share class of the TIAA-CREF Lifecycle Funds. The Court has not finally decided reached a final decision as to the final claimClass Representatives’ claims. Instead, the Class Representative Representatives and Defendants have agreed to the Settlement of that claimSettlement. The Settlement is the product of extensive negotiations between Class Counsel and Defendants’ counselDefense Counsel and multiple all-day sessions with a private mediator and with multiple judges from the Southern District of Illinois. The Settlement was reached at the courthouse at the time trial was set to begin, and the parties were ready to proceed with a month-long trial. The parties to the Settlement have taken into account the uncertainty and risks of litigation and have concluded that it is desirable to settle on the terms and conditions set forth in the Settlement Agreement. The Class Representative Representatives and Class Counsel, who are highly experienced in this kind of matter, believe that the Settlement is best for all Class Members.