Lowey Dannenberg is pleased to announce that on Friday, December 13, 2024, Judge Leigh Martin May issued final approval on a $3.6 million settlement on behalf of Global Payments investors.
In her Friday Order, Judge Leigh Martin May found the Settlement was, “in all respects, fair, reasonable and adequate to the Settlement Class.” See Shafer v. Active Network LLC et al., No. 1:23-CV-00577 (N.D. Ga. Dec. 13, 2024), ECF. No. 76 at 6. Specifically, the Court found “(a) Co-Lead Plaintiffs and Co-Lead Counsel have adequately represented the Settlement Class; (b) the Settlement was negotiated by the Parties at arm’s length; (c) the relief provided for the Settlement Class under the Settlement [was] adequate and [took] into account the costs, risks, and delay of trial and appeal, the proposed means of distributing the Settlement Fund to the Settlement Class; and the proposed attorneys’ fee award; and (d) the Settlement treat[ed] members of the Settlement class equitably relative to each other.” Id. To read the Order in its entirety, please click here.
The Order resolves claims that Global Payments harmed shareholders by allegedly misleading customers into signing up for a program with undisclosed fees. The case was led by Andrea Farah and Alesandra Greco of Lowey Dannenberg, and Co-Lead Counsel Jonathan Park of Pomerantz LLP.