Ferguson v. Ruane Cuniff & Goldfarb Inc. ( 2020 )

JACOB A. ADLERSTEIN ALEXIA D. KORBERG JUSTIN ANDERSON ALAN W. KORNBERG 1285 AVENUE OF THE AMERICAS UNIT 5201, FORTUNE FINANCIAL CENTER ALLAN J. ARFFA DANIEL J. KRAMER JONATHAN H. ASHTOR CAITH KUSHNER NEW YORK, NEW YORK 10019-6064 5S DONGSANHUAN ZHONGLU ROBERT A. ATKINS DAVID K. LAKHDHIR CHAOYANG DISTRICT, BEIJING 100020, CHINA DAVID J. BALL JOHN E. LANGE 7372000: TELEPHONE (86-10) 5828-6300 PAULIN: paste BRIANICSEAVING J. STEVEN BAUGHMAN XIAOYU GREG LIU LYNN B. BAYARD LORETTA E. LYNCH (kate 4 98:1) CRAIG A. BENSON JEFFREY D. □□□□□□□ RANDOLPH E. PAUL (1946-1956) HONS BONS Se ee ee MARK S. BERGMAN MARCO V. MASOTTI ’ DAVID M. BERNICK DAVID W. MAYO SIMON H. RIFKIND (1950-1995) HONG KONG JOSEPH J. BIAL ELIZABETH R. MCCOLM LOUIS S. WEISS (1927-1950) BRUCE BIRENBOIM JEAN M. MCLOUGHLIN TELEPHONE (852) 2846-0300 H. CHRISTOPHER BOEHNING ALVARO MEMBRILLERA F. WHARTON (1927-1977) ‘ , ANGELO BONVINO MARK F. MENDELSOHN BavID W. BROWN WILLIAM □□ □□□□□□□ AEDER.CS SUSANNA M. BUERGEL JUDIE NG SHORTELL* 10 NOBLE STREET JESSICA S. CAREY CATHERINE NYARADY DAVID CARMONA JANE B. O’BRIEN FONDON ECA 200);,UNITEDIRINGDOM GEOFFREY R. CHEPIGA ALEX YOUNG K. OH TERED HOM Gitte gies BU Ison WILLIAM A CLARFMAN RELLEY 9. PARKER WRITER'S DIRECT DIAL NUMBER LEWIS R. CLAYTON LINDSAY B. PARKS YAHONNES CLEARY ANDREW M. PARLEN (212) 373-3215 FUKOKU SEIMEI BUILDING RACHAEL G. COFFEY CHARLES J. PESANT i ft JAY COHEN JESSICA E. PHILLIPS* 22 UCHISe WAICH OT CHOME KELLEY A. CORNISH VALERIE E. RADWANER CHIYODA-KU, TOKYO 100-0011, JAPAN CHRISTOPHER J. CUMMINGS JEFFREY J. RECHER 3 a THOMAS VY. DE LA BASTIDE III CARL L. REISNER DIRECT FACSIMILE TELEPHONE (81-3) 3597-8101 MEREDITH DEARBORN LORIN L. REISNER ARIEL J. DECKELBAUM JEANNIE S. RHEE* (212) 492-0215 KAREN L. DUNN WALTER G. RICCIARDI TORONTO-DOMINION CENTRE RSE cieae □□□□ 7ING SPREBR WEST 100 GREGORY A. EZRING ANDREW N. ROSENBERG DIRECT E-MAIL ADDRESS P.O. BOX 226 ANOREW Ce Rie SACO □□□□□ Iclayton aulweiss.com REEESERER Es fete ed tare mee aw ee BRAD J. FINKELSTEIN CHARLES F. “RICK” RULE* y p . TELEPHONE (416) 504-0520 BRIAN P. FINNEGAN RAPHAEL M. RUSSO ROBERTO FINZI ELIZABETH M. SACKSTEDE! PETER E. FISCH JEFFREY D. SAFERSTEIN HARRIS FISCHMAN JEFFREY B. SAMUELS 2001 K STREET, NW ANDREW J. FOLEY KENNETH M. SCHNEIDER WASHINGTON, DC 20006-1047 ANDREW J. FORMAN* ROBERT B. SCHUMER HARRIS B. FREIDUS JOHN M. SCOTT TELEPHONE (202) 223-7300 CHRISTOPHER D. FREY BRIAN SCRIVANI MANUEL S. FREY KYLE T. SEIFRIED ANDREW L. GAINES KANNON K. SHANMUGAM* KENNETH A. GALLO AUDRA J. SOLOWAY SOCIDEEAWARERAVENUE SUInE/Z0° MICHAEL E. GERTZMAN SCOTT M. SONTAG POST OFFICE BOX 32 ADAM M. GIVERTZ SARAH STASNY WILMINGTON, DE 19899-0032 SALVATORE GOGLIORMELLA TARUN M. STEWART NEIL GOLDMAN ERIC ALAN STONE November 6, 2020 TELEPHONE (302) 655-4410 MATTHEW B. GOLDSTEIN AIDAN SYNNOTT ROBERTO J. GONZALEZ* BRETTE TANNENBAUM CATHERINE L. GOODALL RICHARD C. TARLOWE ERIC GOODISON MONICA K. THURMOND CHARLES H. GOOGE, JR. DANIEL J. TOAL ANDREW G. GORDON LAURA C. TURANO BRIAN S. GRIEVE CONRAD VAN LOGGERENBE UDI GROFMAN LIZA M. VELAZQUEZ NICHOLAS GROOMBRIDGE MICHAEL VOGEL BRUCE A. GUTENPLAN RAMY J. WAHBEH CLAUDIA HAMMERMAN THEODORE □ WELLS, JR BRIAN S. HERMANN LINDSEY L. WIERSMA USDC SDNY MICHELE HIRSHMAN STEVEN J. WILLIAMS rs ROBERT E. HOLO LAWRENCE I. WITDORCHIC DOCUMENT DAVID S. HUNTINGTON AUSTIN WITT AMRAN HUSSEIN MARK B. WLAZLO LORETTA A. IPPOLITO JULIA TARVER MASON WOC + + WILLIAM A. ISAACSON* JENNIFER H. WU ELECTRONICALLY FILED JAREN JANGHORBANI BETTY YAP* BRIAN M. JANSON JORDAN E. YARETT bpoc#: JEH C. JOHNSON KAYE N. YOSHINO MEREDITH J. KANE TONG YU PATRICK RARSNITZ TAURIE Mt □□□□□□□ DATE FILED: November 9, 2020 JOHN C. KENNEDY T. ROBERT ZOCHOWSKI, JR *NOT ADMITTED TO THE NEW YORK BAR *ADMITTED TO THE CALIFORNIA BAR Re: — Canfield, et al. v. SS&C Technologies Holdings, Inc., et al., 18-CV-08913-ALC Mendon, et al. v. SS&C Technologies Holdings, Inc., et al., 18-CV-10252-ALC Ferguson et al v. Ruane, Cunniff & Goldfarb, Inc., et al., 17-CV-06685-ALC SAP See FRA TT, eRe eer re Pevigghons fa CE ew rl JORS □□□ □ ° Bite te F A a □□ Dear Judge Carter: dds EOE □□ . . 1 We represent the DST Defendants in these actions.’ Pursuant to Your Honor’s Individual Practices, we write to request permission to file and maintain under seal a response filed contemporaneously herewith to the letter filed under seal by Andrew Schermerhorn on November 4, 2020 (see ECF Nos. 84-85 (Canfield); 230-31 (Ferguson); 81-82 (Mendon). We respectfully submit that the letter submitted by Mr. Schermerhorn and the accompanying response should be maintained under seal. 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”). PAUL, WEIOo, RIFRINIT, WARIS @& □□□ RIOWIN LL The Honorable Andrew L. Carter, Jr. 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 □□□□□□□□□□□□□□□□□□□□□ “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 IIT”), 71 F.3d 1044, 1050-51 (2d Cir. 1995). Courts in this district have found sealing warranted in similar circumstances. See In re: General Motors, 2015 WL 9480477 at *1, n.1 (S.D.N.Y. Dec. 29, 2015); see also Fernandez v. City of New York, 457 F. Supp. 3d 364, 400-401 (S.D.N.Y. 2020). Respectfully submitted, /s/ Lewis R. Clayton Lewis R. Clayton ce: All Counsel of Record (by ECF Filing) (Sistas Com HON. ANDREW I CANTER, JA. WMFPED STATES DISTRIGT JUDGE i November 9, 2020 The Court grants the DST Defendants’ motion to keep their letter response kept under seal.