Lucent Retiree Medical Settlement - Status of Court ApprovalThe settlement became final on December 9, 2010 and all required payments were received from Alcatel-Lucent on December 16, 2010. The settlement administration process will now begin. Every effort will be made to distribute the settlement payments to eligible class members by March 31, 2010. The hearing on final approval of the settlement occurred as scheduled on November 8, 2010. At the conclusion of the hearing, the Court entered an Order and Final Judgment (1) granting final approval of the settlement and plan of allocation, and (2) granting the petition for award of attorneys' fees and expenses and special payments to the named plaintiffs. Assuming there is no appeal of this decision, the settlement will become final and effective on December 9, 2010. Every effort will be made to distribute the settlement payments to eligible class members by March 31, 2011. |