Duane & Virginia Lanier Trust et al v. SandRidge Energy, Inc. et al

Filing 43

ORDER re 5 MOTION to Compel and 19 CROSS MOTION for Protective Order as set forth herein. Signed by Honorable Charles Goodwin on 02/04/2019. (jb)

UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF OKLAHOMA
DUANE & VIRGINIA LANIER
)
TRUST, individually and on behalf of )
all others similarly situated, et al.,
)
)
Plaintiffs,
)
)
vs.
)
)
SANDRIDGE MISSISSIPPIAN
)
TRUST I et al.,
)
)
Defendants.
)

Case No. MC-18-7-G

ORDER
This matter came on for hearing on the Motion to Compel Compliance with
Subpoenas (Doc. No. 5) filed by Lead Plaintiffs Duane & Virginia Lanier Trust, Ivan
Nibur, Jase Luna, Matthew Willenbucher, and Deborah Rath and the Cross-Motion for
Entry of Protective Order (Doc. No. 19) filed by non-parties Merrill Lynch, Pierce, Fenner
& Smith Incorporated (“Merrill Lynch”), Morgan Stanley & Co. LLC (“Morgan Stanley”),
Raymond James & Associates, Inc. (“Raymond James”), and RBC Capital Markets, LLC
(“RBC”). Upon review of the record and after consideration of the information and
argument presented by counsel, the Court memorializes its rulings made at the hearing and
ORDERS as follows with regard to the subpoenas duces tecum served on April 21, 2018,
in Duane & Virginia Lanier Trust v. SandRidge Energy, Inc., Case No. CIV-15-634-G
(W.D. Okla.) (“Lanier Trust”):
(1) As to the documents sought from Merrill Lynch and RBC, the Court DENIES
the Motion to Compel Compliance with Subpoenas and GRANTS in part the Cross-Motion

for Entry of Protective Order. The Court DENIES the latter motion insofar as Merrill
Lynch and RBC’s request for attorney fees and costs.
(2) As to the documents sought from Morgan Stanley and Raymond James, the
Court GRANTS the Motion to Compel Compliance with Subpoenas and DENIES the
Cross-Motion for Entry of Protective Order.
(3) The Court FINDS that Morgan Stanley’s and Raymond James’ compliance with
the subpoenas duces tecum served in Lanier Trust, see Declaration of Jonathan Horne Ex.
7 (Doc. No. 3-7); id. Ex. 9 (Doc. 3-9), is not contingent on the Court’s ruling on the Motion
for Partial Judgment on the Pleadings pending in that action, and DIRECTS Lead Plaintiffs,
Morgan Stanley, and Raymond James to confer and agree on a date upon which document
production should begin.
(4) In light of Morgan Stanley’s and Raymond James’ status as recipients of Rule
45 subpoenas, and the likelihood that many of the requested documents will be duplicates
of documents produced by Defendants in Lanier Trust, the Court further ORDERS that
Lead Plaintiffs’ counsel in Lanier Trust shall bear 100% of the costs incurred by Morgan
Stanley and Raymond James in “processing and producing” the requested documents, see
Declaration of Andrew R. Escobar (Doc. No. 22) at ¶ 9, but Morgan Stanley and Raymond
James shall remain responsible for any expenses they incur in “review[ing]” documents for
the purpose of responding to this Order, see id. at ¶ 10.
IT IS SO ORDERED this 4th day of February, 2019.