Mayor and City Council of Baltimore v. Bank of America Corporation et al
| Mayor and City Council of Baltimore |
| Bank of America Corporation, Barclays Bank PLC, Citibank NA, HSBC Holdings plc, J.P. Morgan Chase & Co., Lloyds Banking Group plc, UBS AG and WESTLB AG |
| 1:2011cv05450 |
| August 5, 2011 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| New York |
| Naomi Reice Buchwald |
| Antitrust |
| 15 U.S.C. ยง 1 |
| Plaintiff |
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Filing
747
ORDER granting (720) Letter Motion to Seal in case 1:11-cv-05450-NRB; granting (4307) Letter Motion to Seal in case 1:11-md-02262-NRB. Application granted. So Ordered. (Signed by Judge Naomi Reice Buchwald on 11/26/24) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB (yv)
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Filing
712
ORDER granting (707) Letter Motion to Seal in case 1:11-cv-05450-NRB; granting (4279) Letter Motion to Seal in case 1:11-md-02262-NRB; granting (366) Letter Motion to Seal in case 1:13-cv-00597-NRB; granting (364) Letter Motion to Seal in case 1:13- cv-00626-NRB; granting (365) Letter Motion to Seal in case 1:13-cv-00625-NRB; granting (362) Letter Motion to Seal in case 1:13-cv-00627-NRB; granting (364) Letter Motion to Seal in case 1:13-cv-00667-NRB; granting (440) Letter Motion to Seal in case 1:13-cv-03952-NRB; granting (350) Letter Motion to Seal in case 1:13-cv-05186-NRB; granting (355) Letter Motion to Seal in case 1:13-cv-05187-NRB; granting (348) Letter Motion to Seal in case 1:13-cv-05221-NRB; granting (196) Letter Motion to Seal i n case 1:13-cv-05511-NRB; granting (349) Letter Motion to Seal in case 1:13-cv-05569-NRB; granting (357) Letter Motion to Seal in case 1:13-cv-05616-NRB; granting (373) Letter Motion to Seal in case 1:13-cv-06013-NRB; granting (385) Letter Motion to Seal in case 1:13-cv-06014-NRB; granting (277) Letter Motion to Seal in case 1:13-cv-06020-NRB; granting (292) Letter Motion to Seal in case 1:13-cv-07720-NRB; granting (327) Letter Motion to Seal in case 1:13-cv-08644-NRB; granting (237) Letter Moti on to Seal in case 1:13-cv-08799-NRB; granting (440) Letter Motion to Seal in case 1:14-cv-01757-NRB; granting (251) Letter Motion to Seal in case 1:14-cv-04189-NRB; granting (124) Letter Motion to Seal in case 1:15-cv-04810-NRB. Application granted. So Ordered. (Signed by Judge Naomi Reice Buchwald on 11/22/24) Filed In Associated Cases: 1:11-md-02262-NRB et al. (yv)
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Filing
656
ORDER APPROVING OTC PLAINTIFFS' MOTION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES granting (638) Motion for Attorney Fees in case 1:11-cv-05450-NRB; granting (3865) Motion for Attorney Fees in case 1:11-md-02262-NRB. IT IS HEREBY ORDERED THAT: 1. Class Counsel shall receive $25,228,596.71 in attorneys' fees, to be paid out of the settlement fund created by the settlement with Defendants Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (n/k/a Cooperat ieve Rabobank U.A.), Lloyds Banking Group plc, Lloyds Bank plc, HBOS plc, and Bank of Scotland pie, Royal Bank of Canada, and WestLB AG (n/k/a Portigon AG) and Westdeutsche Immobilienbank AG (n/k/a Westdeutsche Immobilien Servicing AG) (the "Se ttlement"), plus interest on the foregoing amount, accruing from entry of this Order until paid, at the same rate earned by the settlement fund. 2. Class Counsel shall be reimbursed $85,613.16 in costs and expenses reasonably incurred in th e prosecution and settlement of this litigation, to be paid out of the settlement fund created by the Settlement, plus interest on the foregoing amount, accruing from entry of this Order until paid, at the same rate earned by the settlement fund. 3. Susman Godfrey L.L.P. and Hausfeld L.L.P. ("Class Counsel") shall have the sole authority to allocate and distribute any attorneys' fees and expenses awarded from the Settlement pursuant to this order among counsel who performed wor k on behalf of the OTC Plaintiffs in a manner which, in the opinion of Class Counsel, fairly compensates such counsel for their services. (Signed by Judge Naomi Reice Buchwald on 12/12/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB. (mml)
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Filing
654
ORDER: WHEREAS no class member has objected to the settlements that will be addressed at the fairness hearing scheduled for December 12, 2023 at 11:00 a.m. (the "Fairness Hearing"); and WHEREAS the OTC Plaintiffs have filed written submiss ions regarding the fairness, reasonableness, and adequacy of those settlements, the Court will hold the Fairness Hearing telephonically. Chambers will post dial-in instructions on the MDL and OTC Plaintiff Action dockets on the morning of December 12, 2023. (Signed by Judge Naomi Reice Buchwald on 11/27/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB. (mml)
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Filing
634
FINAL JUDGMENT AND ORDER GRANTING FINAL APPROVAL OF SETTLEMENT WITH DEFENDANTS MUFG BANK, LTD., THE NORINCHUKIN BANK, AND SOCIETE GENERALE: NOW, THEREFORE, IT IS HEREBY ORDERED, ADJUDGED AND DECREED: 1. This Court has subject matter jurisdiction o ver this action and personal jurisdiction over MUFG Bank, Ltd., The Norinchukin Bank, and Societe Generale for purposes of this settlement, and all members of the OTC Class (defined in paragraph 6, infra). 2. All terms in initial capitalization used in this Final Judgment and Order shall have the same meanings as set forth in the Settlement Agreement, unless otherwise defined herein. FINAL APPROVAL OF SETTLEMENT: 3. Upon review of the record, including the order preliminarily approving the Se ttlement and the submissions in support of the Settlement and preliminary certification, the Court finds that the Settlement resulted from arm's-length negotiations between highly experienced counsel and falls within the range of possible appr oval. 4. Pursuant to Rule 23(e) of the Federal Rules of Civil Procedure, the Court hereby grants final approval of the Settlement on the basis that it is fair, reasonable, and adequate as to, and in the best interests of, all OTC Class Members, wi thin the meaning of, and in compliance with all applicable requirements of, Federal Rule of Civil Procedure 23; the Court directs the Settlement's consummation according to the terms. In reaching this conclusion, the Court has considered the f actors set forth in Federal Rule of Civil Procedure 23(e) and City of Detroit v. Grinnell Corp., 495 F.2d 448, 463 (2d Cir. 1974), abrogated on other grounds by Goldberger v. Integrated Res., Inc., 209 F.3d 43 (2d Cir. 2000). Moreover, the Court c oncludes as follows, as further set forth herein. FINAL APPROVAL OF THE PLAN OF DISTRIBUTION: 5. Upon review of the record, the Court finds that the pro rata Plan of Distribution has a reasonable, rational basis and is fair and adequate. Theref ore, the Plan of Distribution is hereby finally approved, as further set forth. CERTIFICATION OF THE SETTLEMENT CLASS: 6. Pursuant to Rule 23 of the Federal Rules of Civil Procedure, the Court certifies, solely for purposes of effectuating the Sett lement set forth in the Settlement Agreement, the settlement class (the "Class" or "OTC Class" or "Settlement Class") that is defined as further set forth. 7. The Court's certification of the Class as provided her ein is without prejudice to, or waiver of the rights of, any defendant to contest certification of any other class proposed in these actions (i.e., the actions included in the above-captioned multi-district litigation). The Court's finding s in this Final Judgment and Order shall have no effect on the Court's order certifying for class treatment OTC Plaintiffs' antitrust claims or any certification order that may be issued in this action in the future. The findings that follow in paragraphs 89 are limited to this particular order and are made only in the context of this particular settlement, as further set forth. IV. CLASS COUNSEL: 10. Pursuant to Rule 23(g) of the Federal Rules of Civil Procedure, and solely for settlement purposes, the following firms are designated as settlement class counsel ("Class Counsel") for the Class: HAUSFELD LLP, SUSMAN GODFREY L.L.P. FINAL APPROVAL OF CLASS NOTICE: 11. Upon review of the record, the Court finds that the Class Notice constituted due, adequate, and sufficient notice of the Settlement and was the best notice practicable under the circumstances and satisfied the requirements of Federal Rules of Civil Procedure 23(c)(2)(B) and 23(e)(1), due proces s, and any other applicable law. Therefore, the Class Notice is finally approved, as further set forth. 26. There is no just reason for delay in the entry of this Final Judgment and Order, and immediate entry by the Clerk of the Court is expressly directed pursuant to Rule 54(b) of the Federal Rules of Civil Procedure. IT IS SO ORDERED. Societe Generale terminated. Motions terminated: (3733 in 1:11-md-02262-NRB, 625 in 1:11-cv-05450-NRB) MOTION to Approve Final Approval of Settlem ent with Defendants MUFG Bank, Ltd., The Norinchukin Bank, and Societe Generale filed by City of New Britain, Yale University, Jennie Stuart Medical Center, Inc., Mayor and City Council of Baltimore, Vistra Energy Corp. (Signed by Judge Naomi Reice Buchwald on 10/17/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB (mml)
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Filing
632
ORDER: WHEREAS no class member has objected to the settlements that will be addressed at the fairness hearing scheduled for October 17, 2023 at 11:00 a.m. (the "Fairness Hearing"); and WHEREAS the OTC Plaintiffs have filed written sub missions regarding the fairness, reasonableness, and adequacy of those settlements, the Court will hold the Fairness Hearing telephonically. Chambers will post dial-in instructions on the MDL and OTC Plaintiff Action dockets on the morning of October 17, 2023. ( Telephone Conference set for 10/17/2023 at 11:00 AM before Judge Naomi Reice Buchwald.) (Signed by Judge Naomi Reice Buchwald on 10/10/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB (ate)
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Filing
613
ORDER APPROVING OTC PLAINTIFFS' NOTICE PLAN FOR SETTLEMENT WITH DEFENDANTS COOPERATIEVE RABOBANK U.A., LLOYDS BANKING GROUP PLC, LLOYDS BANK PLC, HBOS PLC, BANK OF SCOTLAND PLC, ROYAL BANK OF CANADA, PORTIGON AG, AND WESTDEUTSCHE IMMOBILIEN SER VICING AG AND APPOINTING A CLAIMS ADMINISTRATOR AND ESCROW AGENT in case 1:11-cv-05450-NRB; granting (3698) Motion re: (3698 in 1:11-md-02262-NRB) MOTION For an Order Approving Notice Plan for Settlement with Defendants Cooperatieve Raboban k U.A., Lloyds Banking Group, plc, Lloyds Bank plc, HBOS plc, Bank of Scotland plc, Royal Bank of Canada, Portigon AG, and Westdeutsche Immobilien Servicing in case 1:11-md-02262-NRB. IT IS on this 1st day of August, 2023; ORDERED that OTC Pl aintiffs' Motion for an Order Approving Notice Plan for Settlement with Defendants Rabobank, Lloyds, RBC, and Portigon and Appointing a Claims Administrator and Escrow Agent is GRANTED as follows: The Court appoints Angeion Group, LLC as the C laims Administrator. The Court appoints Huntington Bank as the Escrow Agent. A final approval hearing shall be set for December 12, 2023 at 11:00am, or other time as is convenient to the Court, but no earlier than one week after the deadlin e for reply memoranda in support of OTC Plaintiffs' motion for final approval and motion for an award of attorneys' fees, reimbursement of expenses, and service awards. (Signed by Judge Naomi Reice Buchwald on 8/1/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB (ate)
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Filing
522
MEMORANDUM & ORDER: Further, the settling defendants submitted that such amotion might prove unnecessary if NCUA's then-pending motion to be excused from its failure to timely seek exclusion from the settlements was denied. After the filing of t hat letter, the Court issued its decision on NCUA's motion on July 10, 2019. That decision determined that NCUA' s motion should be considered as a Rule 60 (b) motion, i.e. one seeking relief from judgments already entered. The treatment of NCUA's motion under Rule 60(b) is of significance in several ways. The denial of NCUA's motion meant that the settlements, the related releases and the subsequent judgments were binding on NCUA when they were entered. Thus, when NCUA filed its amended pleading on April 12, 2019 reciting claims against the settling defendants, it had already released the claims it sought to include in that pleading. The July 10, 2019 decision simply left the status quo in place. Thus, any order (such as the one proposed) implying that the July 10, 2019 Memorandum and Order dismissed any claims would be inaccurate because the operative documents were the pre-existing judgments. No further order is necessary. The Court regrets any additional work that was required of counsel because it did not reach this decision sooner. (Signed by Judge Naomi Reice Buchwald on 12/03/2019) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB, 1:13-cv-07394-NRB(ama)
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Filing
520
MEMORANDUM & ORDER: denying (2838) Motion in case 1:11-md-02262-NRB; denying (279) Motion in case 1:13-cv-07394-NRB. As we noted at the outset of this opinion, NCUA failed to exclude itself from the four settlements and the Litigation Class despite direct mail, multiple notices in the financial press, and dozens of ECF notifications. To find on these facts that NCUA has demonstrated a showing of "excusable neglect" or affirmatively expressed its intent to opt out by "actively li tigating" its individual action would effectively write those legal standards out of the law. We decline to do so. For the foregoing reasons, NCUA's motion for exclusion from the OTC class settlements and the OTC Litigation Class is denied. The Clerk of Court is respectfully directed to terminate the pending motions listed at docket entries 2838 in 11 MD 2262 and 279 in 13 CV 7394. SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 7/10/2019) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB, 1:13-cv-07394-NRB (ama)
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Filing
514
MEMORANDUM AND ORDER: granting in part and denying in part (2546) Motion for Leave to File Document; granting in part and denying in part (2551) Motion for Leave to File Document; granting in part and denying in part (2552) Motion for Leave to File Document; granting in part and denying in part (2562) Motion to Amend/Correct; granting in part and denying in part (2563) Motion to Amend/Correct; granting in part and denying in part (2620) Motion for Judgment on the Pleadings; granting in part a nd denying in part (2622) Motion to Dismiss in case 1:11-md-02262-NRB; granting in part and denying in part (327) Motion for Leave to File Document in case 1:12-cv-05723-NRB; granting in part and denying in part (293) Motion to Amend/Correct in case 1:13-cv-03952-NRB; denying (286) Motion to Dismiss in case 1:13-cv-07005-NRB; granting in part and denying in part (244) Motion to Amend/Correct in case 1:13-cv-07394-NRB; granting in part and denying in part (251) Motion to Amend/Correct in case 1:1 4-cv-01757-NRB; granting in part and denying in part (56) Motion to Dismiss in case 1:18-cv-01540-NRB; granting in part and denying in part (432) Motion to Amend/Correct in 11-cv-05450-NRB; ; The motions for leave to amend brought by Freddie Mac, Pri ncipal, the FDIC, and the NCUA are granted in part and denied in part. Lender plaintiffs' motion for leave to amend is denied. Moving plaintiffs are ordered to file their amended complaints in accordance with our rulings in this opinion by April 16, 2019. Defendants' motion for partial dismissal of Schwab's and Doral's claims is granted in part and denied in part. As agreed upon by the FDIC and defendants, Doral's surviving claims will be incorporated into the amended co mplaint filed by the FDIC on behalf of the 38 other failed banks. The motion for partial judgment on OTC plaintiffs' pleadings brought by Bank of America, N.A. and JPMorgan Chase Bank, N.A. is granted in part and denied in part. This Memorandum and Order resolves the motions listed at docket entries 2544, 2546, 2551, 2552, 2562, 2563, 2620, and 2622. SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 3/25/2019) Filed In Associated Cases: 1:11-md-02262-NRB et al. (ama)
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Filing
465
MEMORANDUM AND ORDER: granting in part and denying in part (312) Motion for Attorney Fees; granting in part and denying in part (353) Motion for Attorney Fees in case 1:11-cv-05450-NRB; granting in part and denying in part (2278) Motion for Attorn ey Fees; granting in part and denying in part (2386) Motion for Attorney Fees in case 1:11-md-02262-NRB. OTC plaintiffs' motions for attorneys' fees, litigation expenses, and incentive awards as to the Barclays settlement (ECF No. 2278 and ECF No. 312 in Case 11 Civ. 5450) and as to the Citi settlement (ECF No. 2386 and ECF No. 353 in Case 11 Civ. 5450) are granted in part and denied in part. OTC plaintiffs are awarded $14,855,689.55 in reimbursement for litigation expenses incur red through July 27, 2017. The Mayor and City Council of Baltimore, Maryland; the City of New Britain, Connecticut; Yale University; Vistra Energy Corp.; and Jennie Stuart Medical Center, Inc. are each awarded $25,000 as an incentive award for a total of $125,000 across those five plaintiffs. OTC plaintiffs' counsel are awarded $43,478.572.43 in attorneys' fees, representing 18.5 percent of the aggregate settlement fund across the two settlements net of expenses and incentive awards. SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 8/14/2018) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB (ama)
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Filing
443
MEMORANDUM, ORDER, AND JUDGMENT: granting (308) Motion to Approve in case 1:11-cv-05450-NRB; granting (2274) Motion to Approve ; granting (2376) Motion to Approve in case 1:11-md-02262-NRB. The motions for final approval of the OTC-Barclays settle ment (ECF No. 2274 and ECF No. 308 in Case 11 Civ. 5450) and final approval of the OTC-Citi settlement (ECF No. 2376) are granted. The motions for attorneys' fees, expenses, and incentive awards (ECF Nos. 2278 and 2386) remain under consideratio n and will be addressed in a forthcoming order. The Clerk of the Court is respectfully directed to enter partial final judgment consistent with this memorandum and order pursuant to Rule 54 (b) of the Federal Rules of Civil Procedure. SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 8/01/2018) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB (ama)
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Filing
161
MEMORANDUM AND ORDER: denying (407) Letter Motion to Compel in case 1:11-cv-02613-NRB; denying (1554) Letter Motion to Compel in case 1:11-md-02262-NRB; denying (204) Letter Motion to Compel in case 1:12-cv-05723-NRB. Plaintiffs' request to comp el Tradition America's compliance with their document subpoenas is denied without prejudice. IT IS SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 10/05/2016) (Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB, 1:12-cv-05723-NRB). (ama)
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Filing
146
MEMORANDUM AND ORDER re: 140 LETTER MOTION for Conference addressed to Judge Naomi Reice Buchwald from Jason M. Hall dated February 12, 2016 filed by Royal Bank of Canada, Credit Suisse Group AG. For the reasons stated above, def endants' requests to file motions to strike class allegations from the Mortgagor, OTC, and Exchange-Based complaints are denied, except that we strike the nationwide class allegations in the Mortgagor complaint. The Clerk is directed to terminate the motions listed in the appendix. IT IS SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 5/12/2016) (ama)
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Filing
135
MEMORANDUM AND ORDER terminating 103 Motion to Dismiss; terminating 107 Motion to Dismiss; terminating 110 Motion to Dismiss. The Clerk is directed to terminate the motions listed in the appendix. Weglarz and Nagel are dismissed in their ent irety. The Clerk is directed to enter judgment and to report the judgment to the Judicial Panel on Multidistrict Litigation and the United States District Courts for the Northern District of Illinois (Weglarz) and the Western District of Wisconsin ( Nagel). Berkshire Bank is dismissed except as to the claims of Directors Financial Group, and is dismissed as to the BBA entities. The Clerk is directed to terminate the Berkshire Bank, the Government Development Bank for Puerto Rico, the British Ban kers' Association, BBA Enterprises Ltd., and BBA Libor Ltd. as parties. Payne is dismissed except as to plaintiff Riveras claims against defendant Bank of America, N.A. The Clerk is directed to terminate all other parties. The OTC Plaintiffs are granted leave to amend their consolidated complaint to include claims of SEIU (only against CSGAG or CSAG, and only for claims arising on or after May 13, 2008), Jennie Stuart Medical Center (only against Bank of America, N.A.), and Miami Children&# 039;s Hospital, but not claims of TCEH or Highlander Realty. Highlander Realty is dismissed in its entirety. The Clerk is directed to enter judgment and to report the judgment to the Judicial Panel on Multidistrict Litigation and the United States District Court for the District of Massachusetts. (As further set forth in this Order.) (Signed by Judge Naomi Reice Buchwald on 11/3/2015) (kgo)
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