Anwar et al v. Fairfield Greenwich Limited et al

Filing 1574

ENDORSED LETTER addressed to Judge Victor Marrero from Robert C. Finkel dated 11/9/2016 re: Accordingly, Co-Lead Counsel respectfully request that the proposed distribution orders be entered by the Court. With the Court's permission, upon entry of the accompanying orders, we will file the Rabe Declaration and exhibits on Pacer. ENDORSEMENT: The Clerk of Court is directed to enter into the public record of this action the letter above submitted to the Court by Co-Lead Counsel. SO ORDERED. (Signed by Judge Victor Marrero on 11/10/2016) (kl)

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November 9, 2016

USDC SDNY
DOCUMENT

By Hand Delivery

Honorable Victor Marrero
United States District Court
Southern District of New York
500 Pearl Street
New York, NY 10007
Re:

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Anwar, et al v. Fairfield Greenwich Limited, et al.
Master File No. 09-CV-00118 CVM) CFM)

Dear Judge Marrero:

We are one of plaintiffs' Co-Lead Counsel in the above Anwar action.
We respectfully submit two proposed orders, approving, respectively, distribution of the
Citco and PwC Net Settlement Funds to Authorized Claimants. The two proposed orders are
supported by the accompanying Declaration of Jason Rabe In Support of Entry of Orders For
Distribution of the Citco and PwC Net Settlement Funds. The Citco and PwC Defendants,
respectively, consent to entry of the proposed orders.
Co-lead Counsel are submitting the proposed orders, rather than proceeding by formal
motion, pursuant to Your Honor's prior December 16, 2014 Order (Dkt. No. 1342), with respect
to distribution of the Fairfield Greenwich Net Settlement Fund, that "[n]o motion practice should
be necessary for this purpose."
The Citco Net Settlement Fund derives from the $125 million class action settlement that
was approved by Your Honor on November 20, 2015 in a Final Judgment and Order of
Dismissal (Dkt. No. 1457). No appeals were taken from that Final Judgment, which is now final.
As stated in the Rabe Declaration, the Citco Net Settlement Fund consists of $82,818,476.22,
calculated by subtracting from the gross settlement fund (including interest) the amounts
approved by Your Honor as fees and expenses pursuant to the Citco Final Judgment (Dkt. No.

Doc.# l 89800vl

WOLF POPPER LLP

Honorable Victor Marrero
November 9, 2016
Page 2

1457, ~ 21), escrow fees, and the amounts identified in the Rabe
the Claim Administrator's fees and expenses.

Declaration(~~

19, 21-22) as

The PwC Net Settlement Fund derives from the $55 million class action settlement that
was approved by Your Honor on May 6, 2015, in a Final Judgment and Order of Dismissal (Dkt.
No. 1569). No appeals were taken from that Final Judgment, which is now final. As stated in
the Rabe Declaration, the PwC Net Settlement Fund consists of $36,457,927.88, calculated by
subtracting from the gross settlement fund (including interest) the amounts awarded by Your
Honor as fees and expenses pursuant to the PwC Final Judgment (Dkt. No. 1569, ~ 21), escrow
fees, and the amounts identified in the Rabe Declaration(~~ 20-22) as the Claim Administrator's
fees and expenses.
Co-Lead Counsel have worked closely with Rust on the administration of the respective
settlements and concur with Rust's conclusions with respect to the acceptance and rejection of
claims.
Accordingly, Co-Lead Counsel respectfully request that the proposed distribution orders
be entered by the Court. With the Court's permission, upon entry of the accompanying orders,
we will file the Rabe Declaration and exhibits on Pacer.
Respectfully submitted,

/Id ( f:;v1
Robert C. Finkel

RCF:rd
Enclosures
cc: David Barrett, Esq.
Sara L. Cave, Esq.
Timothy A. Duffy, Esq.

DATE