Anwar et al v. Fairfield Greenwich Limited et al
Filing
1208
MEMORANDUM OF LAW in Opposition re: #1203 MOTION for Settlement Notice of Motion for Final Approval of the Proposed GlobeOp Settlement and Plan of Allocation and an Award of Attorneys' Fees and Reimbursement of Expenses. PwC Defendants Limited Objection to Plaintiffs' Motion for Final Approval of the Proposed GlobeOp Settlement. Document filed by PricewaterhouseCoopers Accountants Netherlands N.V., Pricewaterhousecoopers L.L.P.. (Duffy, Timothy)
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
ANWAR, et al.,
Plaintiffs,
Master File No. 09-cv-118 (VM)
- vFAIRFIELD GREENWICH LIMITED, et al.,
Defendants.
This Document Related To: All Actions
THE PWC DEFENDANTS’ LIMITED OBJECTION TO
PLAINTIFFS’ MOTION FOR FINAL APPROVAL OF THE GLOBEOP SETTLEMENT
Defendants PricewaterhouseCoopers LLP (“PwC Canada”) and PricewaterhouseCoopers
Accountants N.V. (“PwC Netherlands”) (together, “the PwC Defendants”) oppose Plaintiffs’
Motion for Final Approval of the GlobeOp Settlement (Dkt. #1203) on the ground that the terms
of the Court’s preliminary approval Order (Dkt. #1189 at ¶ 15) – and presumably the final
approval Order the Settling Parties will seek to have the Court enter at the Hearing scheduled for
November 22, 2013 – will improperly purport to allow Settlement Class Members to purposely
avail themselves of the benefits and protections of this proceeding without submitting to the
jurisdiction of this Court for all matters arising from or related to this case.
The PwC Defendants made this same objection to the prior partial settlement involving
the FGG defendants, which contained the same problematic provision that purports to limit the
Court’s jurisdiction over class members that participate in the settlement process, thus allowing
for class members to partake of the settlement and, at the same time, argue that they are not
subject to the Court’s jurisdiction with respect to claims against the PwC Defendants. (See Dkt
#1015 at 20-32 (preliminary approval hearing); Dkt# 1044 (written objection); Dkt #1142 at 50-
63 (final approval hearing)).1 The Court overruled the PwC Defendants’ objection. (Dkt. #1142
at 90; Dkt #1097 at ¶ 28 (Final Judgment and Order)). The PwC Defendants (and the Citco
Defendants) appealed (Dkt. #1121 (Notice of Appeal)), and the matter is currently pending
before the Second Circuit as Case No. 13-1642-cv.
The PwC Defendants expressly incorporate their prior objection to the FGG settlement,
and the filings and arguments made in connection therewith before this Court and the Court of
Appeals. The PwC Defendants expect that the Court will overrule this objection on the same
basis as it did in connection with its approval of the FGG Settlement.
Nevertheless, the PwC Defendants request that the Court defer final approval of the
GlobeOp settlement until the Court of Appeals decides the PwC and Citco Defendants’ pending
appeal of this same issue in connection with the FGG Settlement. Oral argument on the pending
appeal is scheduled for the same day as the Final Approval Hearing of the GlobeOp Settlement,
November 22, 2013, which indicates that any delay as a result of this issue would likely be
relatively brief.
If the Court does grant final approval to the GlobeOp settlement, the PwC Defendants
respectfully request that it do so mindful that the pending appeal may necessitate a modification
to the terms of the final order as it relates to the Court’s jurisdiction over settlement class
members who participate in the settlement process.
1
Defendants 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, and
The Citco Group Limited (collectively, the “Citco Defendants”) joined in the PwC Defendants’
objection (see Dkt. #1046), as did GlobeOp itself (see Dkt. #1044 at n.1 & 13).
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Dated: October 15, 2013
/s/ Timothy A. Duffy ________
Emily Nicklin, P.C.
Timothy A. Duffy, P.C.
KIRKLAND & ELLIS LLP
300 North LaSalle
Chicago, Illinois 60654
Telephone: (312) 862-2000
Email: tim.duffy@kirkland.com
Attorneys for Defendant
PricewaterhouseCoopers LLP
/s/ William R. Maguire_______
William R. Maguire
Sarah L. Cave
Gabrielle S. Marshall
HUGHES HUBBARD & REED LLP
One Battery Park Plaza
New York, New York 10004
(212) 837-6000
Attorneys for PricewaterhouseCoopers
Accountants N.V.
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CERTIFICATE OF SERVICE
I, Timothy A. Duffy, hereby certify that I electronically filed the foregoing by using the
CM/ECF system, which generated notices to the following:
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Michael Jules Aguirre
maguirre@amslawyers.com,mbyrnes@amslawyers.com,mseverson@amslawyers.com
Robert James Anello
ranello@maglaw.com
Allan J. Arffa
aarffa@paulweiss.com
Bruce Allen Baird
bbaird@cov.com,maony@cov.com
Jeffrey Edward Baldwin
jbaldwin@stblaw.com
David A. Barrett
dbarrett@bsfllp.com,cgaston@bsfllp.com,NYC_Managing_Clerk@bsfllp.com
Demet Basar
basar@whafh.com
Timothy D. Battin
tbattin@straus-boies.com
Daniel R. Benson
dbenson@kasowitz.com,courtnotices@kasowitz.com
Patrick Barrett Berarducci
s&cmanagingclerk@sullcrom.com,berarduccip@sullcrom.com
Sashi Bach Boruchow
sboruchow@bsfllp.com,NYC_Managing_Clerk@bsfllp.com,sklock@bsfllp.com,emaults
by@bsfllp.com,mcalvin@bsfllp.com,jcatania@bsfllp.com
Richard E. Brodsky
rbrodsky@thebrodskylawfirm.com
Kent Andrew Bronson
kbronson@milberg.com
Lewis Nathan Brown
lbrown@ghblaw.com
Gustavo Fabian Bruckner
gfBruckner@pomlaw.com
Allison Caffarone
caffaronea@sullcrom.com,s&cmanagingclerk@sullcrom.com
Helen Virginia Cantwell
hvcantwell@debevoise.com,mao-ecf@debevoise.com
Sarah Loomis Cave
cave@hugheshubbard.com
Matthew W. Cheney
mcheney@crowell.com
Michael Joseph Chepiga
mchepiga@stblaw.com,managingclerk@stblaw.com
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Joshua Daniel Clark
jclark@bhlawpa.com
Joseph Clay Coates , III
coatesj@gtlaw.com
Jonathan David Cogan
jonathan.cogan@kobrekim.com
Amy E. Crawford
amy.crawford@kirkland.com
Mark Geoffrey Cunha
mcunha@stblaw.com,managingclerk@stblaw.com
Laurence Edward Curran , III
lecurran@lecurran.com
Paul Edouard Dans
pedans01@yahoo.com
Adam S. Deckinger
adeckinger@bsfllp.com
Joshua Seth Devore
jdevore@cohenmilstein.com,efilings@cohenmilstein.com
Timothy A. Duffy
tim.duffy@kirkland.com,renee.ashley@kirkland.com
Matthew Fitzgerald Dunn
mdunn@cov.com
EFG Capital International Corp.
jacobsonj@gtlaw.com
Lawrence P. Eagel
eagel@bragarwexler.com
Leslie Gordon Fagen
lfagen@paulweiss.com
Dyanne Eyce Feinberg
dfeinberg@ghblaw.com,kjones@ghblaw.com
Daniel J. Fetterman
dfetterman@kasowitz.com,courtnotices@kasowitz.com
Robert Craig Finkel
rfinkel@wolfpopper.com,cdunleavy@wolfpopper.com,nmackiel@wolfpopper.com,TSH
APIRO@shulaw.com
Paige Elizabeth Fleming
pfleming@stblaw.com
David Alan Gehn
dgehn@gkblaw.com
Andrew M. Genser
andrew.genser@kirkland.com,kenymanagingclerk@kirkland.com
Eli Justin Glasser
eglasser@bsfllp.com
Ricardo Alejandro Gonzalez
gonzalezr@gtlaw.com,collazoe@gtlaw.com,cabreraf@gtlaw.com
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Mark P. Goodman
mpgoodman@debevoise.com,mao-ecf@debevoise.com
Andrew Garry Gordon
agordon@paulweiss.com
Brian Dale Graifman
bgraifman@gkblaw.com
Adam K. Grant
agrant@kasowitz.com,courtnotices@kasowitz.com
James Abram Harrod , III
jharrod@wolfpopper.com,cdunleavy@wolfpopper.com,eferguson@wolfpopper.com
David Scott Hoffner
david.hoffner@dechert.com,nycmanagingclerks@dechert.com
Fraser Lee Hunter , Jr
fraser.hunter@wilmer.com
Elizabeth A. Izquierdo
eizquierdo@ghblaw.com,AGIMENEZ@BHLAWPA.COM,jcgarcia@bhlawpa.com,bsim
s@bhlawpa.com,JJONES@BHLAWPA.COM,scarter@bhlawpa.com,jgarcia@bhlawpa.c
om,aurena@bhlawpa.com,jmccloskey@bhlawpa.com,ffca@bhlawpa.com,ddorn@bhlaw
pa.com,srobinson@bhlawpa.com,tsuarez@bhlawpa.com
Jon Andrew Jacobson
jacobsonj@gtlaw.com
Gaytri D. Kachroo
gkachroo@kachroolegal.com,jray@kachroolegal.com,jmcguire@kachroolegal.com
Brad Scott Karp
bkarp@paulweiss.com
Marc E. Kasowitz
mkasowitz@kasowitz.com,courtnotices@kasowitz.com
Peter Eric Kazanoff
pkazanoff@stblaw.com,managingclerk@stblaw.com
Michael Sangyun Kim
michael.kim@kobrekim.com
Stephanie Elizabeth Kirwan
skirwan@zsz.com
Brad Eric Konstandt
brad.konstandt@wilmerhale.com
Daniel W. Krasner
krasner@whafh.com
Jennie Boehm Krasner
jennie.krasner@dechert.com
Jody Krisiloff
jkrisiloff@lshllp.com
Glenn Kurtz
gkurtz@whitecase.com,mcosdny@whitecase.com,jdisanti@whitecase.com,jgreen@whit
ecase.com
Eliot Lauer
elauer@curtis.com,jryan@curtis.com,jclyne@curtis.com
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Jean Lee
ndube@milberg.com,jlee@milberg.com,cslidders@milberg.com
Andrew J. Levander
nycmanagingclerks@dechert.com,andrew.levander@dechert.com
Brandon R. Levitt
blevitt@kachroolegal.com
Christopher Lovell
clovell@lshllp.com,lshscanner@lshllp.com
Natalie Marie MacKiel
nmackiel@wolfpopper.com
Joel Steven Magolnick
magolnick@mm-pa.com
William R. Maguire
maguire@hugheshubbard.com
Gabrielle Sean Marshall
marshalg@hugheshubbard.com
Timothy Neil McCabe
tmccabe@cm-p.com
David Harrison McGill
david.mcgill@kobrekim.com
Diane Lee McGimsey
mcgimseyd@sullcrom.com,s&cmanagingclerk@sullcrom.com
Kristi Stahnke McGregor
kmcgregor@milberg.com
Amanda Mcgovern
amcgovern@ghblaw.com
Jorge Alejandro Mestre
jmestre@riveromestre.com,cdiaz@riveromestre.com,jcastro@riveromestre.com,evonder
osten@riveromestre.com,bpaschal@riveromestre.com,receptionist@riveromestre.com,ar
olnick@riveromestre.com,crodriguez@riveromestre.com
Philip A. Mirrer-Singer
pmirrer-singer@stblaw.com
David J. Molton
dmolton@brownrudnick.com,acunningham@brownrudnick.com,acondon@brownrudnic
k.com,dkletter@brownrudnick.com,ehosang@brownrudnick.com,ebowers@brownrudnic
k.com,morenstein@brownrudnick.com
Michael Joseph Moscato
mmoscato@cm-p.com,jclyne@cm-p.com
Terence Michael Mullen
tmullen@ghblaw.com
Sharon L. Nelles
nelless@sullcrom.com,s&cmanagingclerk@sullcrom.com
Gregory Mark Nespole
nespole@whafh.com
Joseph Emanuel Neuhaus
neuhausj@sullcrom.com,s&cmanagingclerk@sullcrom.com
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Emily Nicklin
emily.nicklin@kirkland.com
William M. O'Connor
woconnor@crowell.com
Jonathan Edgar Pollard
jpollard@bsfllp.com
John H. Ray , III
jray@kachroolegal.com
Sara Ann Ricciardi
Sara.Ricciardi@Shearman.com
Jeffrey Lawrence Roether
jroether@stblaw.com
Brenton Rogers
brenton.rogers@kirkland.com
Claudio Godinez RoumainOchoa
cochoa@maglaw.com
Bradley H. Samuels
brad.samuels@kobrekim.com
Robert S. Schachter
rschachter@zsz.com,acabassa@zsz.com,david@dkrpa.com,RLinkin@dkrpa.com
Mark Jackson Schirmer
mschirmer@straus-boies.com,ecf@straus-boies.com
Howard M. Shapiro
howard.shapiro@wilmerhale.com
Martin S. Siegel
msiegel@brownrudnick.com,acunningham@brownrudnick.com
Stuart Harold Singer
ssinger@bsfllp.com,thilts@bsfllp.com,jcatania@bsfllp.com,eglasser@bsfllp.com
Paul Jacob Sirkis
psirkis@stblaw.com
Bradley Paul Smith
smithbr@sullcrom.com,s&cmanagingclerk@sullcrom.com
Louis Smith
smithlo@gtlaw.com,petersr@gtlaw.com
Hillary Sobel
hsobel@zsz.com
Patrick James Somers
psomers@paulweiss.com
Daniel Stephen Sommers
dsommers@cohenmilstein.com
Richard A Speirs
rspeirs@cohenmilstein.com
Edward M. Spiro
espiro@magislaw.com
Victor E. Stewart
victornj@ix.netcom.com
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Carl Lester Stine
cstine@wolfpopper.com
David S. Stone
dstone@stonemagnalaw.com,mhamilton@stonemagnalaw.com,aalberts@stonemagnalaw
.com
Anisley Tarragona
atarragona@bhlawpa.com
Steven Jeffrey Toll
stoll@cohenmilstein.com,efilings@cohenmilstein.com
Catherine A. Torell
ctorell@cohenmilstein.com
Annette Urena
aurena@bhlawpa.com
Howard L. Vickery , II
hvickery@bsfllp.com,NYC_Managing_Clerk@bsfllp.com,cstraut@bsfllp.com
Chet Barry Waldman
cwaldman@wolfpopper.com
Robert Alan Wallner
rwallner@milberg.com
Stephen Lee Weinstein
sweinstein@ellklaw.com
Lauren Whetstone
whetstonel@gtlaw.com
Catherine Whitfield
cwhitfield@bhlawpa.com
Kenneth A. Zitter
kzitter@aol.com
Jeffrey Charles Zwerling
jzwerling@zsz.com
_/s/ Timothy A. Duffy
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