Characterizing the Settlement as “Outstanding”, Court Grants Final Approval of Phoenix Bondholder Settlement

On March 24, 2017, the Court entered a Decision & Order granting final approval of the Stipulation and Settlement.  The Court, in the Order, stated that the “Settlement is outstanding,” and that it provides for “expeditious beneficial relief for the class that affords them material remedial disclosures…”  The Court also noted that “Class counsel performed substantial work [in the Action] and obtained an extremely favorable result for the class.”  A copy of the Order can be accessed below.