What is the standard for determining whether a settlement is fundamentally fair, adequate and reasonable?

"Although Rule 23(e) is silent respecting the standard by which a proposed settlement is to be evaluated, the universally applied standard is whether the settlement is fundamentally fair, adequate and reasonable." Officers for Justice, 688 F.2d at 625; see also Torrisi v. Tucson Elec. Power Co., 8 F.3d 1370, 1375 (9th Cir.1993). When determining whether approval of a settlement is warranted, courts consider

several factors which may include, among others, some or all of the following:

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