Court Grants Final Approval of Settlement in In re DFC Global Securities Litigation

9/20/2017 - On September 20, 2017, Judge Berle Schiller of the United States District Court for the Eastern District of Pennsylvania granted final approval of the settlement and plan of allocation in In re DFC Global Corp. Securities Litigation, C.A. No. 13-cv-6731, a securities fraud class action that challenged statements made by DFC Global Corp., a payday lender with core operations in the United Kingdom, and members of its senior management team, regarding the company‚Äôs lending practices.  The settlement of this action included a cash payment of $30,000,000. Praising the settlement achieved, the Court said:

Establishing liability would be difficult for the Class.  Establishing damages would also be no picnic.

The Court also commended the attorneys for both sides for their work in achieving this outstanding result without wasting resources:

The Class here was represented by skilled advocates who were able to achieve a large recovery.... 

Moreover, this is far from the first rodeo for those advocating settlement.  The lawyers involved here possess extensive litigation experience, which tilts the scales in favor of approving the settlement. 

For more information about the settlement, please visit the website established by A.B. Data, the claims administrator for the action, at www.DFCGlobalSecuritiesLitigation.com.  If you have any questions, please contact BR&B partner Lisa Port at (215) 963-0600.