Outer Banks Power Outage Class Action lawsuit.pdf


Preview of PDF document outer-banks-power-outage-class-action-lawsuit.pdf

Page 1 2 34517

Text preview


together with all persons or entities that rented homes to Vacationers." Id. The resident class is
defined as "[a]ll permanent residents of Hatteras and Ocracoke Islands at the time of the Incident."
ld. Numerous individuals and entities are excluded from the settlement classes including:
(1) persons who are Defendants' employees, agents, directors, officers, insurers,
contractors, subcontractors, including employees ofDefendants' agents, contractors,
and subcontracts; (2) persons who timely and properly exclude themselves from the
Settlement Classes as provided in this Agreement; (3) any federal, state, or local
governmental entity that would otherwise be a member of a Settlement Class; (4)
anyone or any entity that has previously executed a release of all claims against
Defendants related to the Incident and would otherwise be a member of a Settlement
Class; (5) the Court, the Court's immediate family, and Court staff; (6) the attorneys
for any of the Parties and members of their law firms; (7) any person or entity whose
losses were paid, in whole or in part, by Arch Insurance Company; (8) the State of
North Carolina's claim for lost tax revenue; (9) Dare County and its claim for lost tax
revenue; (1 0) Hyde County and its claim for lost tax revenue; (11) any utility
company servicing Hyde and Dare Counties that is asserting a claim for lost revenue;
and (12) Real Water Sports and Ocracoke Variety for the claims that have already
been made against Defendants.
Id. at4-5.
The settlement establishes a claims program whereby the settlement classes will receive cash
payments. PCL will pay into the settlement fund $10,350,000 (less any attorneys' fees, costs, and
incentive awards) of which $100,000 will be used to pay for the costs of notice and administration.
See id. at 8. Any additional costs for notice and administration also will be paid from the settlement
fund. Class counsel will request an award of attorneys' fees not to exceed $3,415,500 (33% of the
settlement fund), as well as costs not to exceed $100,000. See id. at 10. Class counsel also will
request a service award payment of $2,500 for each of the class representatives. See id. The
aggregate service award payments will not exceed $72,500. See id.
Payments into the settlement fund will be allocated as follows: (1) $8,100,000 of the
settlement fund will be allocated to the business class, and (2) $2,250,000 ofthe settlement fund will
be allocated to the rental/vacationer class and the resident class. See id. at 26-27. Business class
3
Case 4:17-cv-00141-D Document 24 Filed 05/02/18 Page 3 of 17