In re Celestica Securities Litigation

Plaintiffs allege that "Defendants disseminated materially false and misleading statements concerning Celestica’s earnings, profitability, and financial outlook, thereby inflating Celestica’s share price by over 50 percent." (see Consolidated Class Action Complaint, pg 1)

1. Final Approval granted.
2. The Brown objection was found to be without merit and overruled.
3. At the Fairness Hearing, the Court noted that "I can really characterize [the Brown Objections] as general boilerplate objections without anything real specific with regard to why this particular settlement is somehow unfair to the class and the class members." (see Fairness Hearing Transcript at 24:9-12, emphasis added)

1. Claims process lacks sufficient oversight.
2. There is no definite timeline for the claims administration process.
3. A portion of the attorneys' fees should be withheld to provide adequate oversight.
4. Attorneys' fees do not reflect actual recovery by the class.
5. Attorneys' fees are excessive.
6. Cy pres provisions should be included in the settlement.
7. Fee request lacks sufficient documentation.