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IN RE HOLOCAUST VICTIM ASSETS LITIGATION

Nos. 96 Civ. 4849 (ERK)(MDG), 99 Civ. 5161 and 97 Civ. 461.

105 F.Supp.2d 139 (2000)

In re HOLOCAUST VICTIM ASSETS LITIGATION. This Document Relates to All Cases.

United States District Court, E.D. New York.

As Corrected August 2, 2000.

Attorney(s) appearing for the Case

Burt Neuborne, New York University Law School, New York, NY, lead class counsel.

Michael D. Hausfeld, Paul T. Gallagher, Cohen, Milstein, Hausfeld & toll, P.L.L.c., Washington, DC, Robert L. Lieff, Elizabeth J. Cabraser, Morris A. Ratner, Lisa J. Leebove, Lieff, Cabraser, Heimann & Bernstein, LLP, New York, NY, Melvyn I. Weiss, Deborah Sturman, Milberg Weiss Bershad Hynes & Lerach, LLP, New York, NY, Robert A. Swift, Kohn, Swift & Graf, P.C., Philadelphia, PA, Irwin Levin, Richard Shevitz, Cohen & Malad, P.C., Indianapolis, IN, Ed Fagan, Fagan & D'Avino, New York, NY, Stephen Whinston, Berger & Montague, P.C., Philadelphia, PA, Mel Urbach, Fort Lee, NJ, Arnold Levin, Levin, Fishbein, Sedran & Berman, Philadelphia, PA, Martin Mendelsohn, Verner, Liipfert, Bernard, McPherson & Hand, Charter, Washington, DC, Barry Fisher, Fleishman, Fisher & Moest, Los Angeles, CA, Stanley M. Chesley, Jeannie Geoppinger, WEaite, Schneider, Bayless & Chesley, Co., L.P.A., Cincinnati, OH, class counsel.

Roger M. Witten, Wilmer, Cutler & Pickering, Washington, DC, for defendants.

MEMORANDUM & ORDER

KORMAN, Chief Judge.

I address here the legal issue of the fairness of the $1.25 billion settlement of the Holocaust Victim Assets Litigation against two leading Swiss banks. The words of Ernest Lobet, a survivor of the Holocaust, provide the best summary of the conclusion that I reach after the analysis to follow:

I have no quarrel with the settlement. I do not say it is fair, because fairness is a relative term. No...

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