South Carolina National Bank v. Stone
, 749 F.Supp. 1419 (D.S.C. 1990). If the Courtdetermines that a settlement class should be certified, the Court must then follow a three-stepprocess prior to granting final approval of a proposed settlement.
Levell v. Monsanto ResearchCorp.
, 191 F.R.D. 543 (S.D. Ohio 2000).First, the Court must preliminarily approve the proposed settlement.
at 547. Second,members of the class must be given notice of the proposed settlement.
. Third, a hearing mustbe held, after which the Court must decide whether the proposed settlement is fair, adequate, andreasonable to the class as a whole, and consistent with the public interest.
. This protects theclass members’ procedural due process rights and enables the Court to fulfill its role as theguardian for the classes’ interests. The decision to approve or reject a proposed settlement iscommitted to the Court’s sound discretion.
City Partnership Company v. Atlantic Acquisition L.P.,
100 F.3d 1041, 1043-44 (1st Cir. 1996).For the following reasons, the parties request that the Court certify a settlement class,preliminarily approve the terms of the settlement and begin the three-step process for grantingfinal approval.
I. Description of The Litigation and the Proposed Settlement
Mr. Domonoske brought this case as a class action and alleged that he was a member of aclass of persons whose rights under the Federal Fair Credit Reporting Act, ("FCRA") 15 U.S.C.§1681,
. were violated by the Bank of America. A description of the legal claims, theparties' positions, the agreed facts, and the proposed settlement follows:
A. Legal Basis for the Claims
The claims at issue arise under 15 U.S.C. § 1681g(g) of the FCRA. Since 2004, the
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