District Court, S.D. New York, 2020

In re Foreign Exchange Benchmark Rates Antitrust Litigation

In re Foreign Exchange Benchmark Rates Antitrust Litigation
District Court, S.D. New York · Decided November 6, 2020
In re Foreign Exchange Benchmark Rates Antitrust Litigation

Trial Court Opinion

USONUITTEHDE RSTNA DTIESST RDIICSTT ROIFC TN ECWOU YROTR K -------------------------------------------------------------X : : IN RE FOREIGN EXCHANGE BENCHMARK : 13 Civ. 7789 (LGS) RATES ANTITRUST LITIGATION : : ORDER : ------------------------------------------------------------ X LORNA G. SCHOFIELD, District Judge: WHEREAS, on October 29, 2020, Plaintiffs filed a pre-motion letter in anticipation of a motion for summary judgment. Dkt. No. 1518.

WHEREAS, on October 30, 2020, Plaintiffs filed a letter indicating that Plaintiffs’ pre- motion letter at Docket No. 1518 contains information Defendants have designated as either “Confidential” or “Highly Confidential” under the terms of the Stipulation and Order of Confidentiality at Docket No. 555, and that the pre-motion letter has been placed under temporary seal. Dkt. No. 1520.

WHEREAS, on October 30, 2020, the Court issued an Order directing Plaintiffs to file a letter motion to file a redacted version of the pre-motion letter at Docket No. 1518, pursuant to Individual Rule I.C.3. Dtk. No. 1524.

WHEREAS, Plaintiffs filed a letter motion to redact portions of the pre-motion letter at Docket No. 1518. Dkt. Nos. 1522, 1523 and 1525.

WHEREAS, Defendants filed a letter in support of Plaintiffs’ letter motion to redact portions of the pre-motion letter at Docket No. 1518. Dkt. No. 1532. It is hereby ORDERED that, Plaintiffs’ motion to seal is GRANTED. The unredacted versions of the pre-motion letter filed at Docket Nos. 1518 and 1525 will remain sealed, and only the parties and individuals identified in the attached Appendix A will have access. Although “[t]he common law right of public access to judicial documents is firmly rooted in our nation’s history,” this right is not absolute, and courts “must balance competing considerations against” the presumption of access. Lugosch v. Pyramid Co. of Onondaga, 435 F.3d 110, 119-20 (2d Cir. 2006) (internal quotation marks omitted); see also Nixon v. Warner Commce’ns., Inc., 435 U.S. 589, 599 (1978) (“[T]he decision as to access is one best left to the sound discretion of the trial court, a discretion to be exercised in light of the relevant facts and circumstances of the particular case.”). Filing the above-referenced document in redacted form is necessary to prevent the unauthorized dissemination of confidential information related to non-parties.

The Clerk of Court is respectfully directed to close the motions at Docket Nos. 1520, 1522, 1523 and 1525.

Dated: November 6, 2020 / / r New York, New York LORNA G. SCHOFIEL UNITED STATES DISTRICT JUDGE Appendix A Scott+Scott Attorneys at Law LLP Christopher M. Burke [email protected] Walter W. Noss [email protected] Kristen M. Anderson [email protected] Donald A Broggi [email protected] Fine, Kaplan and Black, R.P.C.

Peter Anthony Barile, III Roberta D. Liebenberg [email protected] [email protected] Adam Pessin Thomas Kay Boardman [email protected] [email protected] Motley Rice LLC Michelle Elizabeth Conston William H. Narwold [email protected] [email protected] William Curtis Fredericks Donald A. Migliori [email protected] [email protected] Joseph Peter Guglielmo Michael M. Buchman [email protected] [email protected] Sylvia Sokol [email protected] Miller Law LLC Marvin A. Miller Stephanie Ann Hackett [email protected] [email protected] Matthew Van Tine Kate Lv [email protected] [email protected] Kirby McInerney LLP Hausfeld, LLP David E Kovel Michael D. Hausfeld [email protected] [email protected] Karen Lerner Tim Kearns [email protected] [email protected] Reena Gambhir [email protected] Katie Beran [email protected] Sarah Rebecca Lafreniere [email protected] Christopher L. Lebsock [email protected] Class Representatives Class Representitives Counsel CERA LLP Solomon B. Cera [email protected] Aureus Currency Fund, L.P. (“Aureus”) C. Andrew Dirksen [email protected]

Obermayer Rebmann Maxwell & Hippel LLP William Leonard [email protected] Rigel Farr [email protected] City of Philadelphia, Board of Pensions and BONI & ZACK LLC Retirement Michael J. Boni [email protected] Joshua D. Snyder [email protected] Robbins Geller Rudman & Dowd LLP Patrick Joseph Coughlin [email protected] David W. Mitchell [email protected] Employees’ Retirement System of the Government of the Virgin Islands (“Virgin Islands”) Brian O. O' Mara [email protected] Randi Dawn Bandman [email protected] Wolf Popper LLP Marian Rosner [email protected] Patricia Avery Employees’ Retirement System of Puerto Rico [email protected] Electric Power Authority (“ERS-PREPA”) Fei-Lu Qian [email protected] Berman DeValerio Joseph J. Tabacco , Jr. [email protected] Fresno County Employees’ Retirement Association Todd Seaver (“FCERA”) [email protected] Sarah Khorasanee McGrath [email protected] Stephen M. Tillery [email protected] George A. Zelcs [email protected] Robert E Litan [email protected] Steven Michael Berezney [email protected] Michael E. Klenov [email protected] Haverhill Retirement System (“Haverhill”) Scott and Scott Attorneys At Law LLP See Class Counsel Column for Details The Mogin Law Firm, P.C.

Daniel J. Mogin [email protected] Steyer Lowenthal Boodrookas Alvarez & Smith LLP Allan Steyer [email protected] Alexander Dewitt Singh Kullar [email protected] Korein Tillery, LLC See supra for details Scott and Scott Attorneys At Law LLP See Class Counsel Column for Details Oklahoma Firefighters Pension and Retirement The Mogin Law Firm, P.C.

System (“Oklahoma Firefighters”) See supra Steyer Lowenthal Boodrookas Alvarez & Smith LLP See supra Labaton Sucharow LLP Gregory S. Asciolla [email protected] Jay L. Himes [email protected] State-Boston Retirement System (“Boston Retirement”) Robin A. Van Der Meulen [email protected] Matthew J. Perez [email protected]

Grant & Eisenhofer, PA Robert G. Eisler Syena Global Emerging Markets Fund, LP (“Syena”) [email protected] Entwistle & Cappucci LLP Andrew J Entwistle [email protected] Tiberius OC Fund, Ltd. (“Tiberius”) Robert N Cappucci Entwistle & Cappucci LLP Vincent Roger Cappucci [email protected] Entwistle & Cappucci LLP Value Recovery Fund L.L.C. (“VRF”) See supra Lowey Dannenberg Cohen & Hart, P.C.

Vincent Briganti [email protected] Geoffrey Milbank Horn [email protected] Gerald Lawrence United Food and Commercial Workers Union and [email protected] Participating Food Industry Employers Tri-State Pension Fund (“United Food”) Peter Dexter St. Phillip , Jr [email protected] Raymond Peter Girnys [email protected] Shepherd, Finkelman, Miller & Shah, LLC Eric L. Young [email protected] Scott+Scott Attorneys at Law LLP Christopher M. Burke [email protected] Systrax Corporation (“Systrax”) Hausfeld, LLP Michael D. Hausfeld [email protected] Korein Tillery, LLC Robert Miller, Mark Miller, and Peter Rives See supra Criden & Love, P.A.

Michael E. Criden [email protected] J. Paul Antonello Lindsey C. Grossman [email protected] Criden & Love, P.A.

See supra Marc G. Federighi, Michael J. Smith Labaton Sucharow LLP See supra Freed Kanner London Millen LLC Michael J. Freed [email protected] Thomas Gramatis, John Kerstein Steven A. Kanner [email protected] Radice Law Firm, P.C.

John Radice Doug Harvey, Izee Trading Company (“Izee”), and [email protected] Richard Preschern d/b/a Preschern Trading (“Preschern”) Kenneth Pickly [email protected]

Nussbaum Law Group, P.C.

Linda P Nussbaum Jeffrey Sterk, Kimberly Sterk, and Michael Melissinos [email protected] David George Januszewski Cahill Gordon & Reindel LLP [email protected] Herbert Scott Washer Cahill Gordon & Reindel LLP [email protected] Jason Michael Hall Cahill Gordon & Reindel LLP [email protected] Credit Suisse Group AG, Credit Suisse AG, Credit Sheila Chithran Ramesh Suisse Securities (USA) LLC (collectively "Credit Cahill Gordon & Reindel LLP Suisse") [email protected] Elai E. Katz Cahill Gordon & Reindel LLP [email protected] Charles Matthew Miller Tarter Krinsky & Drogin LLP [email protected] Richard Carl Schoenstein Tarter Krinsky & Drogin LLP [email protected] Adam Selim Hakki Shearman & Sterling LLP [email protected] Bank of America Corporation, Bank of America, N.A., Richard Franklin Schwed and Merrill Lynch, Pierce, Fenner & Smith Inc. Shearman & Sterling LLP (collectively “Bank of America”) [email protected] Jeffrey Jason Resetarits Shearman & Sterling LLP [email protected] Michael E. Gertzman Paul, Weiss, Rifkind, Wharton & Garrison LLP [email protected] Andrew Corydon Finch Paul, Weiss, Rifkind, Wharton & Garrison LLP [email protected] Anand Sithian Bank of Tokyo Mitsubishi UFJ Ltd. (“BOTM’) Paul, Weiss, Rifkind, Wharton & Garrison LLP [email protected] Kenneth Anthony Gallo Paul, Weiss, Rifkind, Wharton & Garrison LLP [email protected] David Harold Braff Sullivan and Cromwell, LLP [email protected] Jeffrey T. Scott Sullivan and Cromwell, LLP scott|@sullcrom.com Barclays Bank PLC, Barclays Capital Inc. Matthew Alexander Schwartz (collectively "Barclays") Sullivan & Cromwell, LLP [email protected] Yvonne Susan Quinn Sullivan & Cromwell, LLP [email protected] Kathleen Suzanne McArthur Sullivan & Cromwell, LLP [email protected] Camille Latoya Fletcher Patterson, Belknap, Webb & Tyler LLP [email protected] Joshua Aaron Goldberg Patterson, Belknap, Webb & Tyler LLP [email protected] Rebecca Rose Delfiner BNP Paribas Group, BNP Paribas North America,. rebecca delfiner@altonovery com Inc., BNP Paribas Securities Corp., BNP Prime = - Brokerage, Inc. (collectively BNP Paribas) , Allen & Overy LLP [email protected] John Terzaken Allen & Overy LLP [email protected] Laura Rose Hall Allen & Overy, LLP [email protected] Andrew Arthur Ruffino Covington & Burling LLP [email protected] Thomas A. Isaacson Covington & Burling, LLP Citigroup Inc., Citibank, N.A., Citicorp, Citigroup [email protected] Global Markets Inc. (collectively "Citigroup") Covington & Burling, LLP [email protected] Andrew D. Lazerow Covington & Burling, LLP [email protected] George Patrick Montgomery King & Spalding LLP [email protected] Nickolas Barber Kirkland & Ellis LLP Deutsche Bank AG, Deutsche Bank Securities Inc. [email protected] (collectively "Deutsche Bank") Joseph Serino, JR. [email protected] Eric Foster Leon Latham & Watkins LLP [email protected] Leah Brannon Cleary Gottlieb Steen & Hamilton LLP [email protected] George S Cary Cleary Gottlieb Steen & Hamilton LLP [email protected] Robert Alexander Lawner Cleary Gottlieb Steen & Hamilton LLP Goldman Sachs Group, Inc., Goldman, Sachs & Co. [email protected] (collectively "Goldman Sachs") Thomas J. Moloney [email protected] Elizabeth Vicens Cleary Gottlieb Steen & Hamilton LLP [email protected] Victor L. Hou Cleary Gottlieb Steen & Hamilton LLP [email protected] Gregory Thomas Casamento Locke Lord LLP [email protected] Julia C Webb Locke Lord LLP [email protected] HSBC Holdings PLC, HSBC Bank PLC, HSBC North Roger Brian Cowie America Holdings, Inc., HSBC Bank USA, N.A., Locke Lord LLP HSBC Securities (USA) Inc. (collectively "HSBC") [email protected] James Matthew Goodin Locke Lord LLP [email protected] Edwin R DeYoung Locke Lord LLP [email protected] Boris Bershteyn Skadden, Arps, Slate, Meagher & Flom LLP [email protected] John Coghlan Skadden, Arps, Slate, Meagher & Flom LLP [email protected] Patrick Joseph Fitzgerald Skadden, Arps, Slate, Meagher & Flom, LLP [email protected] Peter Edward Greene Skadden, Arps, Slate, Meagher & Flom Lip [email protected] Peter S. Julian Skadden, Arps, Slate, Meagher & Flom LLP [email protected] Harry Peter Koulos [email protected] Tansy Woan Skadden, Arps, Slate, Meagher & Flom LLP [email protected] Tibor Ludovico Nagy, Jr. Dontzin Nagy & Fleissig LLP [email protected] Anuja Thatte Dontzin Nagy & Fleissig LLP [email protected] Stephen Leonard Ratner Proskauer Rose LLP [email protected] Russell Laurence Hirschhorn Proskauer Rose LLP [email protected] Keia Denise Cole Wachtell Lipton Rosen & Katz [email protected] Jonathan M. Moses Wachtell, Lipton, Rosen & Katz [email protected] Morgan Stanley, Morgan Stanley & Co., LLC, and Bradley Reid Wilson Morgan Stanley & Co. International plc (collectively Wachtell, Lipton, Rosen & Katz "Morgan Stanley") [email protected] John David Tortorella Marino Tortorella & Boyle, P.C. [email protected] Kevin H. Marino Marino Tortorella & Boyle, P.C. [email protected] James P. McLoughlin, Jr. Moore & Van Allen, PLLC [email protected] Neil Thomas Bloomfield Moore & Van Allen, PLLC . “ [email protected] RBC Capital Markets LLC (“RBC”) Mark A. Nebrig Moore & Van Allen, PLLC [email protected] Joshua D. Lanning Moore & Van Allen, PLLC [email protected] Paul Steel Mishkin Davis Polk & Wardwell LLP [email protected] Greg Donald Andres Davis Polk & Wardwell [email protected] Joel M. Cohen Davis Polk & Wardwell Royal Bank of Scotland Group PLC, RBS Securities, [email protected] Davis Polk & Wardwell LLP [email protected] Maude Paquin Davis Polk & Wardwell LLP [email protected] Jennifer Kan Davis Polk & Wardwell LLP [email protected] Patrick Coby Ashby Linklaters, LLP [email protected] Katherine Zupan Machan Linklaters, LLP Nee kate. [email protected] Société Générale S.A. (“SocGen”) James Robert Wamot, Jr Linklaters, LLP [email protected] Adam Samuel Lurie Linklaters, LLP [email protected] Andrew W. Stern Sidley Austin LLP (NY) [email protected] Nicholas Primer Crowell Sidley Austin LLP (NY) [email protected] David Jarrett Arp Gibson, Dunn & Crutcher, LLP [email protected] Melanie L. Katsur Gibson, Dunn & Crutcher LLP [email protected] Mark Adam Kirsch UBS AG, UBS Group AG,UBS Securities LLC Gibson, Dunn & Crutcher, LLP (collectively "UBS") [email protected] Joshua H. Soven Gibson, Dunn & Crutcher LLP [email protected] Eric Jonathan Stock Gibson, Dunn & Crutcher, LLP [email protected]

Case-law data current through December 31, 2025. Source: CourtListener bulk data.