Case Developments

5/26/2006: Consolidated amended class action complaint filed in the U.S. District Court for the District of New Jersey (In re Resort Condominiums International, LLC, Case No. 06-CV-1222).

6/27/2006: Defendant RCI filed an answer to the Plaintiffs’ amended class action complaint.

8/03/2006: Court issued Case Management Order No. 1 appointing Green Welling LLP and Cohen Placitella & Roth P.C. as interim class counsel and co-lead counsel, appointing David C. Berman, P.C. as liaison counsel, and appointing Gilbert Oshinsky LLP (formerly Gilbert Randolph LLP); Hanly, Conroy, Bierstein, Sheridan, Fischer, & Hayes LLP; and Simmons Cooper LLC to Plaintiffs’ Steering Committee. Case Management Order No. 1 also bifurcated discovery, requiring that the first phase of discovery deal with class certification issues and the second phase of discovery deal with the merits of the case.

11/26/2006: Court issued Case Management Order No. 2 further outlining parameters for class certification discovery and setting an April 3, 2007 conference to discuss the class certification briefing schedule.

Winter 2006/2007: Parties have exchanged discovery requests and continue to engage in class certification discovery.

2007-2008: Parties engaged in settlement negotiations.

11/20/2008 – 11/21/2008: Parties signed the agreement.

12/23/2008: Court entered preliminary approval of the agreement.