Key Points:

• Class Action Settlement:
  • Period: The class action concerns Norton security software sold between July 24, 2010, and June 27, 2016.
  • Issue: Alleged design defects in the software's "decomposer" component.
  • Settlement Value: Approximately $21,700,000.

Settlement Details:

• Options for Class Members:
  • Option 1: $5 cash payment plus a 90-day free license of Norton AntiVirus Plus or a $7.50 discount code.
  • Option 2:
    • License < 3 years: 180-day free license or $15 discount code.
    • License ≥ 3 years: 365-day free license or $30 discount code.
• Additional Provisions:
  • Free licenses can be activated anytime; discount codes have no expiration.
  • Gen Digital to pay $6,000,000 to a Settlement Fund for cash payments.
  • Automatic discount codes for current customers who do not submit a claim.
  • Remaining funds to provide additional pro-rata cash payments to long-term license holders.
  • Legal fees of $5,040,000 and disbursements of $364,393.92 to be paid by Gen Digital.
  • Settlement administration costs estimated at $250,000 covered by Gen Digital.

Court's Consideration:

• Support: Settlement supported by representative Plaintiffs and class counsel.
• Objections: Only four objections out of 640,000 class members, considered minor.
• Benefits: The settlement provides timely recovery and substantial benefits, avoiding lengthy and uncertain litigation.

Legal Fees:

• Approved Fees: $3,270,000 plus HST and additional disbursements.
• Contingency Fee: 15%, deemed fair given the risks and effort over 7.5 years.

Conclusion:

• Approval: The court approved the Settlement Agreement and the class counsel fees, finding them fair, reasonable, and in the best interests of the Class.