Nicholson v. The Bank of Nova Scotia et al

Filing 118

ORDER: IT IS HEREBY ORDERED that by no later than Thursday, April 22, 2021, Plaintiffs must file a supplemental submission addressing the issues raised at the Fairness Hearing. In addition to the issues raised at the hearing, Plaintiffs also must address the following: as set forth herein. SO ORDERED. (Signed by Judge Valerie E. Caproni on 4/09/2021) Filed In Associated Cases: 1:14-md-02573-VEC et al. (ama)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
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IN RE:
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LONDON SILVER FIXING, LTD.,
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ANTITRUST LITIGATION
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This Document Relates to All Actions
:
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USDC SDNY
DOCUMENT
ELECTRONICALLY FILED
DOC #:
DATE FILED: 4/9/2021

14-MD-2573 (VEC)
14-MC-2573 (VEC)
ORDER

VALERIE CAPRONI, United States District Judge:
WHEREAS on April 8, 2020, Plaintiffs and Defendant Deutsche Bank appeared for a
Fairness Hearing with respect to the Deutsche Bank Settlement;
IT IS HEREBY ORDERED that by no later than Thursday, April 22, 2021, Plaintiffs
must file a supplemental submission addressing the issues raised at the Fairness Hearing. In
addition to the issues raised at the hearing, Plaintiffs also must address the following:
1. Were the Court to grant Plaintiffs’ motion for attorneys’ fees and expenses as initially
requested and Plaintiffs were to reach a future settlement with one or both remaining
Defendants, how would this impact Plaintiffs’ future lodestar analysis and expenses?
Would Plaintiffs’ future lodestar “double count” work that was already reflected in the
Deutsche Bank lodestar or would Plaintiffs’ lodestar be limited to work completed after
October 2020?1
2. In exercising the Court’s discretion to award reasonable attorneys’ fees, how should the
Court weigh the four-year delay between the motion for preliminary approval of the
settlement agreement and the motion to approve the notice plan? Given that Plaintiffs’
counsel could have filed the motion to approve the notice plan much more quickly, why

Plaintiffs’ counsel reports that the Deutsche Bank lodestar reflects time worked from the inception of this
matter through October 2020. See, e.g., Fees Mem. of Law, Dkt. 485 at 21.
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should the settlement class have to incur the costs of attorneys’ fees and expenses for this
lengthy period of time?

SO ORDERED.
Date: April 9, 2021
New York, NY

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VALERIE CAPRONI
United States District Judge

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