Ferguson v. Ruane Cuniff & Goldfarb Inc. ( 2021 )

WELOO, INTE IRITINITY, WILes INT WIN ATYAININD ONIN LLI EDWARD T. ACKERMAN KYLE J. KIMPLER JACOB A. ADLERSTEIN ALEXIA D. KORBERG ALLAN J ARFEAS DANIEL □□□□□□□□□ 1285 AVENUE OF THE AMERICAS UNIT 5201, FORTUNE FINANCIAL CENTER NEW YORK, NEW YORK 10019-6064 5 DONGSANHUAN ZHONGLU ROBERTA ATKINS BAVID □□□□□□□□ CHAOYANG DISTRICT, BEIJING 100020, CHINA = (212) 373-3000 TELEPHONE (86-10) 5828-6300 Seger eee neAy □□□□ □□ SDNY JOHN F. BAUGHMAN XIAOYU GREG LIU J. STEVEN BAUGHMAN LORETTA E. LYNCH HONG KONG CLUB BUILDING, 12TH FLOOR HN Be Bee JEEPRey □□□□□□ | 3A CHATER ROAD, CENTRAL MITCHELL L. BERG DAVID W. MAYO HONG KONG MARK S. BERGMAN ELIZABETH R. MCCOLM DAVID M. BERNICK JEAN M. MCLOUGHLIN FILED TELEPHONE (852) 2846-0300 JOSEPH J. BIAL ALVARO MEMBRILLERA BRUCE BIRENBOIM MARK F. MENDELSOHN ANGELO BoNVINO NINS WILLIAM B □□□□□□□ 10 NOBLE STREET BAvIBWSROWN CAPERINE □□□□□□□ FILED: February 12, 2021 LONDON EC2¥ 7JU, UNITED KINGDOM SUSANNA M. BUERGEL Pe □□□ SALNUMBER.SS™” EMER DY Ao rrReY CHEPIGA RECLEY □ PARKER REMAN LINDA □□□□□□□□ (212) 373-3215 FUKOKU SEIME] BUILDING LEWIS R. CLAYTON JEFFREY J. RECHER 2-2 UCHISAIWAICHO 2-CHOME YAHONNES CLEARY CARL L. REISNER CHIYODA-KU, TOKYO 100-0011, JAPAN SOV GGHEN ESBREY TeANNIE □□□□□ DIRECT FACSIMILE TELEPHONE (81-3) 3597-8101 CHRISTOPHER J) CUMMINGS WALTER □□□□□□□ (212) 492-0215 rononrowommion center AEE Ta Den eseawaene"° 77 KING STREET WEST, SUITE 3100 ‘a DIRECT E-MAIL ADDRESS FO. BOX 226 ROSS A. FIELDSTON RAPHAEL □□□□□ + TORONTO, ONTARIO MSK iJ3 Iclayton@paulweiss.com TELEPHONE (416) 504-0520 BRIAN PE PINNEGAN JEFFREY B: □□□□□□□ ROBERTO FINZI KENNETH M. SCHNEIDER PETER E. FISCH ROBERT B. SCHUMER 2001 K STREET, NW ANDREW J FOLEY. BRIAN □□□□□□□□ WASHINGTON, DC 20006-1047 ANDREW J. FORMAN* KYLE T. SEIFRIED HARRIS B. FREIDUS KANNON K. SHANMUGAM* TELEPHONE (202) 223-7300 CHRISTOPHER D. FREY DAVID R. SICULAR MANUEL S. FREY AUDRA J. SOLOWAY ANDREW L. GAINES SCOTT M. SONTAG 500 DELAWARE AVENUE, SUITE 200 HENIMETNA GALE, rete □□ □□□□ a Soe eee avin ne enone February 10. 2021 TELEPHONE (302) 88=-4410 De CoUP □□□ oarein See □□□ y ? ROBERTO J. GONZALEZ* MONICA K. THURMOND CATHERINE L. GOODALL DANIEL J. TOAL ERIC GOODISON LAURA C. TURANO CHARLES H. GOOGE, JR. CONRAD VAN LOGGERENBE ANDREW G. GORDON LIZA M. VELAZQUEZ BRIAN S. GRIEVE MICHAEL VOGEL UDI GROFMAN RAMY J. WAHBEH NICHOLAS GROOMBRIDGE LAWRENCE G. WEE BRUCE A. GUTENPLAN THEODORE V. WELLS, JR. ALAN 5S. HALPERIN LINDSEY L. WIERSMA CLAUDIA HAMMERMAN STEVEN J. WILLIAMS BRIAN S. HERMANN LAWRENCE |. WITDORCHIC VIA ECF MICHELE HIRSHMAN AUSTIN WITT DAVID S. HUNTINGTON MARK B. WLAZLO AMRAN HUSSEIN JULIA TARVER MASON WOO LORETTA A. IPPOLITO JENNIFER H. WU BRIAN UANSON SSRDAN ©, YARETT The Honorable Andrew L. Carter, Jr. JENS. JOHNSON KAYE Ni YOSHINO str; ee oa □□□□□ United States District Judge PATRICK N. KARSNITZ T ROBERT ZOCHOWSKI, JR. JOHN C. KENNEDY Thurgood Marshall *NOT ADMITTED TO THE NEW YORK BAR United States Courthouse Co Pa ee ee coy nt ee 40 Foley Square i fey = pietd □□ N DORS Bagg haat i 4 TH New York, NY 10007 Bi Vals Lad Le ee Re: — Ferguson, et al. v. Ruane, Cunniff & Goldfarb, Inc., et al., 17-CV-06685-ALC Dear Judge Carter: . . . 1 We represent the DST Defendants in this action." Pursuant to Your Honor’s Individual Practices, we write to request permission to file certain exhibits , oe . , we related to the DST Defendants’ Response to the Arbitration Claimants’ Opposition to tee. . . Ferguson Plaintiffs’ Motion for Preliminary Approval of Class Action Settlement and for ‘6 ” Related Relief (the ““Response”) under seal. As Your Honor is aware, Arbitration Counsel in the above-captioned action represent numerous arbitration claimants. Certain exhibits we intend to submit in support of the Response contain information related to the arbitrations brought by Arbitration Counsel on behalf of their clients. Those materials include: | The “DST Defendants” are DST Systems, Inc. (“DST”), the Advisory Committee of the DST Systems, Inc. 401(k) Profit Sharing Plan (the “Advisory Committee”), and the Compensation Committee of the Board of Directors of DST (the “Compensation Committee”). PAWL, WEISS, RIFRINIY, WHAKRIYN © OAKRKRISOVWN The Honorable Andrew L. Carter, Jr. ° An arbitrator’s order (Declaration of Jeffrey J. Recher dated February 10, 2021 (“Recher Decl.”) Ex. A); and, ° An excerpt from a report by Dr. Donald M. May, Arbitration Claimants’ expert. (Recher Decl. Ex. B). One of the arbitration agreements entered into by the parties provides that “[t]he arbitration and hearing shall be confidential, but only to the extent allowed under applicable law.” Out of an abundance of caution, the DST Defendants request that the foregoing materials be filed under seal in order to protect the confidentiality interests of the arbitration claimants, if any, in the contents of their arbitration proceedings. While a presumption of public access applies to judicial documents, i.e., documents relevant to the performance of the judicial function and useful in the judicial process, the weight of the presumption is “governed by the role of the material at issue” and the resulting value of such information to the public. See Lugosch v. Pyramid Co. of Onondaga, 435 F.3d 110, 119 (2d Cir. 2006); United States v. Amodeo (“Amodeo I”), 44 F.3d 141, 145 (2d Cir. 1995). Courts must also balance against the weight of the presumption any countervailing factors, such as “the privacy interests of those resisting disclosure”—including “the degree to which the subject matter 1s traditionally considered private rather than public”—and the “nature and degree of injury” resulting from disclosure. See Lugosch, 435 F.3d at 120; United States v. Amodeo (“Amodeo IT”), 71 F.3d 1044, 1050-51 (2d Cir. 1995). Respectfully submitted, /s/ Lewis R. Clayton Lewis R. Clayton ce: All Counsel of Record (by ECF Filing) HONANDREWTL. GARTER, Ja. UNITED STATES DISTRICT JUDGE February 12, 2021