Anwar et al v. Fairfield Greenwich Limited et al

Filing 1360

ENDORSED LETTER addressed to Judge Victor Marrero from Sharon L. Nelles dated 3/6/2015 re: We write on behalf of the Standard Chartered Defendants ("SCB ") in response to the March 4 letter of plaintiffs in the Standard Chartered Cases. ENDORSEMENT: The Clerk of Court is directed to enter into the public record of this action the letter above submitted to the Court by Standard Chartered Bank defendants. (Signed by Judge Victor Marrero on 3/6/2015) (lmb)

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March 6, 2015

By Facsimile
Honorable Victor Marrero,
United States District Judge,
Southern District of New York,
Daniel Patrick Moynihan U.S. Courthouse,
500 Pearl Street.
New York, New York 10007.

Re:

Anwar v. Fairfield Greenwich Ltd-Standard Chartered Cases,

No. 09-CV-118 (S.D.N.Y.) CVM) CFMl
Dear Judge Marrero:
We write on behalf of the Standard Chartered Defendants ("SCB ") in
response to the March 4 letter of plaintiffs in the Standard Chartered Cases. Plaintiffs
seek a conference to urge the Court to file a Suggestion of Remand with the Judicial
Panel on Multidistrict Litigation. Plaintiffs' request is, at best, premarure. Currently
before the Court are two issues that must be resolved before any discussion of remand
could be appropriate: (1) whether the Standard Chartered Cases should be dismissed in
their entirety pursuant to SL USA; and (2) whether the Court should accede to plaintiffs'
efforts to preclude SCB from filing a motion for swnmary judgment on specified claims.
The Court's thoughtful consideration of these matters should be respected, not
interrupted.
With respect to the SLUSA issue, which plaintiffs ignore entirely in their
letter, SCB's motion to dismiss, if granted, would be wholly dispositive of the Standard
Chartered Cases. As for SCB's contemplated motion for summary judgment, if granted,
it would substantially narrow the number of cases and the issues that remain for trial.
Even if the Court considers certain contemplated arguments an "uphill battle" - and SCB
does not believe the hill will prove as steep as plaintiffs suggest - plaintiffs cannot
declare themselves the victors before the battle has even begun. Indeed. the Court has
been clear that it has not prejudged any of plaintiffs' claims or any of SCB's defenses.

(Sept. 29, 2014 Tr. at 47:12-16.)

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Honorable Victor Marrero
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This complex litigation has been well-managed by the Court so as to
ensure that legal and factual issues common among the Standard Chartered Cases are
resolved consistently. The Court should continue to do so. Plaintiffs' request for a
conference at this juncture should be denied.

Sharon L. Nelles
cc:

Standard Chartered Plaintiffs' Steering Committee (by 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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