The following e-filed documents, listed by NYSCEF document number (Motion 009) 152, 153, 154, 155, 156, 157, 160, 161 were read on this motion to/for MISCELLANEOUS.
The court has jurisdiction over “the subject matter underlying the suit and over the defendants” and any approval of a settlement of both the claims arising under the Securities Act of 1933 and the Securities Exchange Act of 1934 must be given full faith and credit in every court within the United States and its territories and possessions. Although this Court will be tasked with assessing the general worth of the federal claims, this does not amount to a judgment on the merits of the claims (28 USC 1738; Matsushita Elec. Indus. Co., Ltd. v. Epstein, 516 US 367 [1996]). Class members who wish to preserve their right to litigate exclusively in the federal courts may either opt out or object to the release of any exclusively federal claims. There is therefore no impediment to this Court proceeding with the proposed settlement.
Andrew Borrok, J.