unless the objectors make the equivalent of a topping bid. If they post a secured bond or letter of credit for the benefit of the Fund for the full settlement consideration of $13.25 million, then they may take over the case. If they later lose or obtain less than the full settlement amount, the Fund will be able to draw on the security and be made whole. If the objectors achieve a greater recovery, then both they and the Fund will benefit. The objectors have sixty days from the date of this decision to make their election and post security. If they do not, then I will enter a final order approving the settlement and granting the fee award.
- Thought Leadership