Anwar et al v. Fairfield Greenwich Limited et al

Filing 1109

ENDORSED LETTER: addressed to Judge Victor Marrero from Timothy A. Duffy dated 4/9/2013 re: Counsel asks that any materials filed in the record under seal by the Settling Defendants be provided to the other parties in the case, as is typically the practice with regard to such filings. The Settling Defendants are obviously free to designate the materials as Confidential of Highly. ENDORSEMENT: The Clerk of Court is directed to enter into the public record of this action the letter above submitted to the Court by PWC and Citgo Defendants. So Ordered. (Signed by Judge Victor Marrero on 4/9/2013) (js)

KIRKLAND &. ELLIS LLP
AND AFFILIATED PARTNERSHIPS

300 North LaSalle Street
Chicago, Illinois 60654
Timothy A. Duffy, P,C.
To Call Writer Directly:
[phone]
[e-mail]

[phone]

Facsimile:
[phone]

www.kirktand.com

April 9, 2013

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Judge Victor Marrero
United States District Court
Southern District of New York
500 Pearl Street
New York, New York ] 0007

Re:

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Anwar, et al. v. Fairfield Greenwich Limited, et al.
Master File No. 09-CV-00l18 (VM) (THK)

Dear Judge Marrero:
I write on behalf of my client, PricewaterhouseCoopers LLP ("PwC Canada"), and the
other Non-Settling Defendants (PricewaterhouseCoopers Accountants N.V. ("PwC
Netherlands"), Citco Fund Services (Europe) B.V., Citco (Canada) Inc., Citco Bank Nederland
N.V. Dublin Branch, Citco Global Custody N.V., Citco Fund Services (Bermuda) Limited, The
Citco Group Limited (collectively, the "Citco Defendants"), and GlobeOp Financial Services
LLC ("GlobeOp"» in response to the Settling Defendants letter of April 8, 2013 regarding the
materials the Court asked them to file into the record at the March 22nd fairness hearing.
The Non-Settling Defendants object to the Settling Defendants request to file information
regarding settlements they have entered into with class members without providing that material
to the other parties in the case. Whatever justification there may be for shielding this
information from public disclosure, there is no basis for keeping it secret from the Non-Settling
Defendants. A non-settling defendant is entitled to know when and on what terms a co­
defendant settles with a plaintiff - just as it is entitled to know the terms of a settlement with the
class as a whole. This is particularly true here, where both the federal securities laws, see 15
U.S.C. s78u-4(f)(7)(B), and state law, N.Y. General Obligations Law § 15-108 (McKinney
2007), governing the remaining claims in this case require taking the terms of prior settlements
into account in assessing a plaintiffs right to recovery against the Non-Settling Defendants.
We simply ask that any materials filed in the record under seal by the Settling Defendants
be provided to the other parties in the case, as is typically the practice with regard to such filings.
The Settling Defendants are obviously free to designate the materials as Confidential or Highly

Hong Kong

London

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Washington, D.C.

KIRKLAND &.. ELLIS LLP

April 9, 2013
Page 2

Confidential under the terms of the Court's order regarding confidentiality, which will protect
against disclosure of the information to non-parties.

Respectfully,

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Timothy A. Duffy, P.C.
cc:

Counsel of Record (via e/mail)

• The Clerk of Court is directed to enter into the public record
of this action the letter above submitted to the Court by

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SO ORDERED.

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