Jeffrey N. Schneider v. Champignon Brands Inc. — Entry #103: CLASS DISTRIBUTION ORDER 98 by Judge James V
Case: Jeffrey N. Schneider v. Champignon Brands Inc. cacd · 2:21-cv-03120
filed April 10, 2021
What this document is
Docket entry #103 · filed December 16, 2024
CLASS DISTRIBUTION ORDER 98 by Judge James V. Selna: IT IS HEREBY ORDERED THAT: This Class Distribution Order incorporates by reference the definitions in the Stipulation and Agreement of Settlement (ECF No. 65-1) (the "Stipulation"). All terms not otherwise defined shall have the same meaning as set forth in the Stipulation or the Craig Declaration. [See document for details and deadlines.] (es) (Entered: 12/17/2024)
Who is involved
- Braxia Scientific Corp.
- Gareth Birdsall
- Jeffrey N. Schneider
- Kenneth Kessler
- Matthew Fish
- Michael G. Quinn
- Roger McIntyre
- Stephen Brohman
- Tim Ryan
Why we have it
We follow this case because it names a company we track, although that company is not a party:
- Marathon Digital: its name “Marathon Digital Holdings, Inc.” appears in a filing in this case.
…Ending Account Value Incl. Al $20,465.63 Marathon Digital Holdings INC Com $3,814 19% Nano Dimension LTD Spon…
A free copy from the RECAP archive of federal court filings (mirrored at the Internet Archive), retrieved November 03, 2026. Federal court filings are public records.
Document text
5 page(s), 9,503 characters, converted from the PDF's text layer · plain text.
Full text
Case 2:21-cv-03120-JVS-KES Document 103 Filed 12/16/24 Page 1 of 5 Page ID
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8 UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
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10 JEFFREY N. SCHNEIDER, Case No. 2:21-cv-03120-JVS-KES
11 Individually and On Behalf of All
Others Similarly Situated, CLASS DISTRIBUTION ORDER
12 [98]
13 Plaintiff,
Date: December 16, 2024
14 v. Time: 1:30 p.m.
15 Crtm: 10C
CHAMPIGNON BRANDS INC., Judge: James V. Selna
16 GARETH BIRDSALL, and
17 MATTHEW FISH,
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Defendants.
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CLASS DISTRIBUTION ORDER
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1 Having considered all materials and arguments submitted in support of Lead
2 Plaintiff’s Unopposed Motion for Class Distribution Order (the “Motion”), including
3 the Memorandum of Law in Support of the Motion, the Declaration of Margery Craig
4 Concerning the Results of the Claims Administration Process (“Craig Decl.”), and the
5 Declaration of Sharon M. McGowan of the Public Justice Foundation,
6 NOW, THEREFORE, IT IS HEREBY ORDERED THAT:
7 1. This Class Distribution Order incorporates by reference the definitions
8 in the Stipulation and Agreement of Settlement (ECF No. 65-1) (the “Stipulation”).
9 All terms not otherwise defined shall have the same meaning as set forth in the
10 Stipulation or the Craig Declaration.
11 2. This Court has jurisdiction over the subject matter of the Action and over
12 all parties to the Action, including all Settlement Class Members.
13 3. As set forth in the Craig Declaration, the administrative determinations
14 of the Claims Administrator in accepting and rejecting Claims are approved.
15 Specifically, the administrative determinations of the Claims Administrator accepting
16 those Claims set forth in Exhibits C-1 and C-2 of the Craig Declaration are approved.
17 Likewise, the administrative determinations of the Claims Administrator rejecting
18 those Claims set forth in Exhibits D and E of the Craig Declaration are approved. For
19 the avoidance of doubt, claim number 782 is denied because the Claimant had a
20 market gain with respect to his, her, or its overall transactions in Braxia shares during
21 the Settlement Class Period. See, e.g., In re Cendant Corp. Sec. Litig., 454 F.3d 235,
22 246-47 (3d Cir. 2006) (upholding application of a “netting provision” providing that
23 “all profits shall be subtracted from all losses on all transactions of CUC and Cendant
24 publicly-traded securities during the class period to determine the net claim of each
25 class member. If a class member made a net profit, the value of his, her or its claim
26 shall be zero.”); In re Citigroup Inc. Sec. Litig., 2014 WL 7399039, at *2-4 (S.D.N.Y.
27 Dec. 29, 2014) (overruling objection based on objector’s “aggregate gain” from class
28 period transactions where plan of allocation provided: “[t]o the extent an Authorized
CLASS DISTRIBUTION ORDER
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1 Claimant had an aggregate gain from his, her or its transactions in Citigroup common
2 stock during the Class Period, the value of his, her or its total Recognized Loss will
3 be zero.”).
4 4. As set forth in the Craig Declaration, no new Claims may be accepted
5 after August 30, 2024, and no further adjustments to submitted Claim may be made
6 for any reason after September 24, 2024.
7 5. The Court authorizes payment of $5,250 from the Settlement Fund to the
8 Claims Administrator for the fees and expenses to be incurred in connection with the
9 Initial Distribution and 2024 tax work, as described in the Craig Declaration.
10 6. The distribution plan for the Net Settlement Fund as set forth in the Craig
11 Declaration and accompanying exhibits is approved. The balance of the Net
12 Settlement Fund, after deducting the fees and expenses discussed in paragraph 5, shall
13 be distributed to Authorized Claimants. To encourage Authorized Claimants to
14 promptly deposit their payments, all distribution checks will bear a notation: “CASH
15 PROMPTLY, VOID AND SUBJECT TO RE-DISTRIBUTION 180 DAYS AFTER
16 ISSUE DATE.” Authorized Claimants who fail to cash, deposit, or negotiate a
17 distribution check within the time allotted or consistent with the terms outlined in
18 Paragraph 21.a.vi. of the Craig Declaration will irrevocably forfeit all recovery from
19 the Settlement.
20 7. After the Initial Distribution of the Net Settlement Fund, the Claims
21 Administrator shall make reasonable and diligent efforts to have Authorized
22 Claimants cash, deposit, or negotiate their distribution checks. To the extent any
23 monies remain in the fund six (6) months after the Initial Distribution, if Lead
24 Counsel, in consultation with the Claims Administrator, determines that it is cost-
25 effective to do so, the Claims Administrator shall conduct a redistribution of the funds
26 remaining after payment of, or reserve for, any unpaid fees and expenses incurred in
27 administering the Settlement, including for such redistribution, payment of any Taxes,
28 costs of preparing tax returns and escrow fees, to Authorized Claimants who have
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1 cashed their Initial Distributions and who would receive at least $10.00 from such
2 redistribution. Additional redistributions to Authorized Claimants who have cashed,
3 deposited, or negotiated their prior checks and who would receive at least $10.00 on
4 such additional redistributions may occur thereafter if Lead Counsel, in consultation
5 with the Claims Administrator, determines that additional redistributions, after the
6 deduction of any additional fees and expenses incurred in administering the
7 Settlement, including for such redistributions, would be cost-effective.
8 8. At such time as Lead Counsel, in consultation with the Claims
9 Administrator, determine that no additional distributions are cost-effective, then the
10 remaining funds will be donated to the Public Justice Foundation, a non-sectarian,
11 not-for-profit 501(c)(3) organization dedicated to, among other things, investor
12 education and advocacy.
13 9. All persons involved in the review, verification, calculation, tabulation,
14 or any other aspect of the processing of the claims submitted herein, or otherwise
15 involved in the administration or taxation of the Settlement Fund or the Net Settlement
16 Fund, are released and discharged from any and all claims arising out of such
17 involvement, and all Settlement Class Members and other Claimants, whether or not
18 they are to receive payment from the Net Settlement Fund, are barred from making
19 any further claim against the Net Settlement Fund, Lead Plaintiff, Lead Counsel,
20 Plaintiff’s Counsel, the Claims Administrator, the Escrow Agent, or any other agent
21 retained by Lead Plaintiff or Lead Counsel in connection with the administration or
22 taxation of the Settlement Fund or the Net Settlement Fund, or any other person
23 released under the Settlement beyond the amounts allocated to them pursuant to the
24 terms of the Class Distribution Order, provided that such released persons acted in
25 accordance with the Stipulation, the Judgment, and this Order.
26 10. The Claims Administrator is authorized to destroy: (a) paper or hard
27 copies of the Claim Forms and supporting documents one year after any re-
28 distribution, if that occurs, or, if there is no re-distribution, two years after the Initial
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1 Distribution; and (b) electronic copies of the same one year after the final distribution
2 of the Net Settlement Fund to Authorized Claimants.
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4 SO ORDERED this 16th day of December 2024.
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8 The Honorable James V. Selna
9 United States District Judge
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CLASS DISTRIBUTION ORDER
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