Khoury et al v. FXCM Inc. et al
| Tony Khoury |
| FXCM Inc., Dror Niv and Robert Lande |
| 1:2017cv00916 |
| February 7, 2017 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| New York |
| Ronnie Abrams |
| Securities/Commodities/Exchanges |
| 15 U.S.C. ยง 78 |
| Plaintiff |
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Filing
381
ORDER FOR DISTRIBUTION OF CLASS ACTION SETTLEMENT FUNDS granting (377) Motion for Disbursement of Funds in case 1:17-cv-00916-RA-BCM. NOW, THEREFORE, IT IS HEREBY ORDERED THAT: Plaintiffs' Motion for Distribution of Class Action Settlement Fu nds is GRANTED. As further set forth by this Order. If any funds remain in the Net Settlement Fund by reason of uncashed checks, or otherwise, after the Claims Administrator has made reasonable and diligent efforts to have Authorized Claimants who ar e entitled to participate in the distribution of the Net Settlement Fund cash their distribution checks, then any balance remaining in the Net Settlement Fund six months after the initial distribution of such funds shall be used: (i) first, to pay an y amounts mistakenly omitted from the initial distribution to Authorized Claimants who would receive at least a $10.00 payment; (ii) second, to pay any additional Administrative Costs incurred in administering the Settlement; and (iii) finally, to make a second distribution to Authorized Claimants who cashed their checks from the initial distribution and who would receive at least $10.00 from such second distribution, after payment of the estimated costs or fees to be incurred in admi nistering the Net Settlement Fund and in making this second distribution, if such second distribution is economically feasible. If six months after such second distribution, if undertaken, or if such second distribution is not undertaken, any funds shall remain in the Net Settlement Fund, any funds remaining in the Net Settlement Fund shall be donated to a non-profit charitable organization chosen by Class Counsel, with the approval of the Court. This Court retains jurisdiction over any further application or matter which may arise in connection with this action. (Signed by Judge Ronnie Abrams on 6/7/2024) Filed In Associated Cases: 1:17-cv-00916-RA-BCM, 1:17-cv-00955-RA, 1:17-cv-01028-RA, 1:17-cv-02506-RA (tg) Transmission to Finance Unit (Cashiers) for processing.
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Filing
371
ORDER A settlement hearing is scheduled in this matter for July 7, 2023 at 3:00 p.m. Unless the parties request otherwise, the Court will hold this hearing telephonically. Call-In Number: (888) 363-4749; Access Code: 1015508#. This conference line is open to the public. SO ORDERED. (Telephone Conference set for 7/7/2023 at 03:00 PM before Judge Ronnie Abrams.) (Signed by Judge Ronnie Abrams on 6/14/2023) (jca)
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Filing
351
ORDER granting 350 Letter Motion for Extension of Time to File. Application granted. SO ORDERED. (Signed by Judge Ronnie Abrams on 1/30/2023) (ate)
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Filing
349
ORDER granting 348 Letter Motion for Extension of Time to File. Application granted. SO ORDERED. (Signed by Judge Ronnie Abrams on 1/20/2023) (ate)
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Filing
347
ORDER STAYING ACTION granting 346 Letter Motion to Stay re: 346 JOINT LETTER MOTION to Stay Action addressed to Judge Ronnie Abrams from Joshua Baker and Israel Dahan dated 12/23/22. This matter comes before the Court on the Parties joint letter motion, filed December 23, 2022. Upon consideration of the Parties motion, and good cause appearing therefor, the Court GRANTS the Parties motion and hereby ORDERS that: 1. The action shall be stayed to allow the Parties to doc ument the settlement and all upcoming deadlines and proceedings, including trial, pretrial deadlines, and all deadlines and requirements set forth in the Courts Order dated November 29, 2022 (ECF No. 329), are vacated. 2. The Parties shall execute a stipulation of settlement and Plaintiffs shall file a motion for preliminary approval of the settlement within 30 days of the entry of this Order. (Signed by Judge Ronnie Abrams on 12/23/2022) (ate)
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Filing
327
ORDER denying 320 Motion for Certificate of Appealability. For the foregoing reasons, Defendants' Motion to Certify the Court's August 17, 2022 Order for Interlocutory Appeal is denied. SO ORDERED.. (Signed by Judge Ronnie Abrams on 10/31/2022) (ks)
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Filing
323
ORDER: If Plaintiffs intend to respond to Defendants' motion, they shall do so no later than October 4, 2022. Defendants shall file a reply, if any, no later than October 11, 2022. ( Responses due by 10/4/2022, Replies due by 10/11/2022.) (Signed by Judge Ronnie Abrams on 9/23/2022) (ate)
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Filing
317
GRANTING MOTION FOR LEAVE TO WITHDRAW AS COUNSEL: Upon consideration of Motion for Leave to Withdraw as Counsel, and for good cause shown, it is HEREBY ORDERED THAT David A. Rosenfeld of Robbins Geller Rudman & Dowd LLP is hereby withdrawn as co unsel of record. The Clerk of the Court is directed to remove the above-named attorney and law firm from the docket as well as the ECF Service List. (Signed by Judge Ronnie Abrams on 9/2/2022) Filed In Associated Cases: 1:17-cv-00916-RA-BCM, 1:17-cv-00955-RA, 1:17-cv-01028-RA, 1:17-cv-02506-RA (ate)
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Filing
291
ORDER granting in part and denying in part 237 Motion in Limine; denying 242 Motion in Limine; denying 247 Motion for Summary Judgment. Pending before the Court are Defendants Global Brokerage, Inc., Dror Niv, and William Ahdout's m otion for summary judgment, motion to exclude the reports, testimony, and opinions of Adam Werner, and motion to exclude the reports, testimony, and opinions of John E. Barron. For reasons that will be articulated at the conference scheduled on Au gust 19, 2022 at 1:00 p.m., the motion for summary judgment is denied; the motion to exclude Werners reports, testimony, and opinions is denied; and the motion to exclude Barrons reports, testimony, and opinions is granted in part and denied in part. The Clerk of Court is respectfully directed to terminate the motions pending at docket numbers 237, 242, and 247. SO ORDERED.. (Signed by Judge Ronnie Abrams on 8/17/2022) (ks)
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Filing
290
ORDER: The Court will hold a conference in this case on August 19, 2022 at 1:00 p.m. The conference will be held telephonically. The parties may access the conference with the following information: Dial-In Number (888) 363-4749; Access Code 1015508#. ( Telephone Conference set for 8/19/2022 at 01:00 PM before Judge Ronnie Abrams.) (Signed by Judge Ronnie Abrams on 8/11/2022) (ate)
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Filing
286
ORDER granting 274 Letter Motion to Seal. Application granted. SO ORDERED.. (Signed by Judge Ronnie Abrams on 1/21/2022) (tg)
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Filing
273
ORDER granting 260 Letter Motion to Seal. Application granted. SO ORDERED.. (Signed by Judge Ronnie Abrams on 12/10/2021) (jca)
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Filing
232
ORDER ADOPTING REPORT AND RECOMMENDATIONS for 174 Motion to Certify Class filed by 683 CAPITAL PARTNERS, LP, Shipco Transport, Inc., E-Global Trade and Finance Group Inc., 229 Report and Recommendations., Accordingly, Plaintiffs' class certification motion is granted in part (as to FXCM's Class A common stock) and denied in part (as to the 2.25% Convertible Senior Notes due 2018). As recommended by Judge Moses, the following class is hereby certified pursuant to R ule 23(a) and (b)(3): All persons and/or entities that purchased or otherwise acquired publicly traded Global Brokerage, Inc., f/k/a FXCM Inc. ("FXCM") Class A common stock, during the period March 15, 2012 through February 6, 2017, both dates inclusive. Excluded from the Class are: (i) Defendants; (ii) current and former officers, employees, consultants and directors of FXCM and FXCM Holdings, LLC; (iii) siblings, parents, children, spouses, and household members of any person e xcluded under (i) and (ii); (iv) any entities affiliated with, controlled by, or more than 5% owned by, any person excluded under (i) through (iii); and (v) the legal representatives, heirs, successors or assigns of any person excluded under ( i) through (iv). Additionally, Shipco and E-Global are hereby appointed as Class Representatives, and the Rosen Law Firm, P.A. is appointed as Class Counsel. The Clerk of Court is respectfully directed to terminate the motion pending at Dkt. 174. The Clerk of Court is further directed to lift the stay entered on August 21, 2021. See Dkt. 204. SO ORDERED. (Signed by Judge Ronnie Abrams on 3/23/2021) (rj)
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Filing
219
ORDER granting 217 Letter Motion to Seal. Application GRANTED. Although the Forbearance Agreement is a "judicial document" as that term is used in Lugosch v. Pyramid Co. of Onondaga, 435 F.3d 110, 119 (2d Cir. 2006), there are adequat e countervailing factors justifying the sealing, including the fact that the document to be sealed is signed by and would reveal apparently nonpublic financial information about non-parties. (Signed by Magistrate Judge Barbara C. Moses on 10/30/2020) (cf)
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Filing
204
ORDER granting 203 Letter Motion to Stay. Application GRANTED. Discovery is STAYED pending further order of the Court. However, the evidentiary hearing scheduled for October 15, 2020 will remain on the Court's calendar. No later than October 7, 2020, the parties shall submit a joint letter, informing the Court as to whether the mediation was successful. (Signed by Magistrate Judge Barbara C. Moses on 8/21/2020) (cf)
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Filing
192
ORDER granting 190 Letter Motion to Seal. APPLICATION GRANTED. Having reviewed the document as to which sealing is requested, the Court notes that the redactions are minimal and are narrowly tailored to protect the privacy of a witness's pe rsonal financial information and the confidentiality of non-public information concerning a party's investment strategy and results, the disclosure of which could harm its competitive standing. The Court therefore concludes that, for substanti ally the reasons set forth in the parties' joint letter, the presumption of public access applicable to all judicial documents is outweighed, in the case of Exhibit 9, by "competing considerations," Lugosh v. Pyramid Co. of Onandaga, 435 F.3d 110, 11920 (2d Cir. 2006).. (Signed by Magistrate Judge Barbara C. Moses on 6/15/2020) (cf)
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Filing
179
ORDER granting 161 Motion to Add. All parties having consented to the grant of plaintiffs' motion to add E-Global Trade and Finance Group Inc. (E-Global) as a party plaintiff, and having further agreed that the addition of E-Global will n ot affect the pretrial schedule in this action or prejudice defendants' rights regarding class certification, the motion (Dkt. No. 161) is GRANTED. Plaintiffs shall file their third amended complaint, including E-Global as a named plaintiff, no later than April 20,2020. (As further set forth in this Order.) (Signed by Magistrate Judge Barbara C. Moses on 4/13/2020) (cf)
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Filing
172
ORDER: Due to a conflict on the Court's calendar, the telephonic case management conference scheduled for April 13, 2020, at 11:00 a.m., is ADJOURNED to April 13, 2020, at 12:30 p.m. At that time, the parties shall call into the below teleconference: Call in number: 888-557-8511 Access Code: 7746387. ( Telephone Conference set for 4/13/2020 at 12:30 PM before Magistrate Judge Barbara C. Moses.) (Signed by Magistrate Judge Barbara C. Moses on 4/9/2020) (cf)
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Filing
164
ORDER: In light of the ongoing national public health emergency, the case management conference scheduled for April 13, 2020, at 11:00 a.m., will be conducted telephonically. At that time, the parties shall call into the below teleconference: Call in number: 888-557-8511 Access Code: 7746387. SO ORDERED., ( Telephone Conference set for 4/13/2020 at 11:00 AM before Magistrate Judge Barbara C. Moses.) (Signed by Magistrate Judge Barbara C. Moses on 3/19/2020) (ama)
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Filing
163
ORDER: The President of the United States has declared a national emergency due to the spread of the COVID-19 virus, and the Centers for Disease Control have noted that the best way to prevent illness is to minimize person-to-person con tact. In order to protect public health while promoting the "just, speedy, and inexpensive determination of every action and proceeding," Fed. R. Civ. P. 1, it is hereby ORDERED, pursuant to Fed. R. Civ. P. 30(b)(3) and (b)(4), that all depositions in this action may be taken via telephone, videoconference, or other remote means, and may be recorded by any reliable audio or audiovisual means. This Order does not dispense with the requirements set forth in Fed. R. Civ. P. 30(b) (5), including the requirement that, unless the parties stipulate otherwise, the deposition be "conducted before an officer appointed or designated under Rule 28," and that the deponent be placed under oath by that officer. For avoidan ce of doubt, a deposition will be deemed to have been conducted "before" an officer so long as that officer attends the deposition via the same remote means (e.g., telephone conference call or video conference) used to connect all othe r remote participants, and so long as all participants (including the officer) can clearly hear and be heard by all other participants. It is further ORDERED, pursuant to Fed. R. Civ. P. 16(b)(4), that all unexpired deadlines for the completi on of fact depositions, fact discovery, expert depositions, expert discovery, and/or all discovery are hereby EXTENDED for a period of 30 days. Nothing in this Order prevents the parties from seeking to further modify the pretrial schedule in this action in light of the COVID-19 pandemic (or for any other good cause). Prior to seeking such relief, the parties must, as always, meet and confer (via remote means) in a good faith effort to reach agreement on how best to fulfill the goals of Rule 1 while avoiding unnecessary health risks. (Signed by Magistrate Judge Barbara C. Moses on 3/17/2020) (mro)
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Filing
154
ORDER: For the reasons stated on the record during the status conference held on February 4, 2020, it is hereby ORDERED that Judge Moses will conduct a status conference on February 26, 2020, at 10:00 a.m. One week prior to that date, on F ebruary 19, 2020, the parties shall submit a joint status letter outlining the progress of discovery to date. If no discovery controversies exist at that time, the parties may request that the conference be held telephonically or that it be adjourned sine die. ( Status Conference set for 2/26/2020 at 10:00 AM before Magistrate Judge Barbara C. Moses.) (Signed by Magistrate Judge Barbara C. Moses on 2/4/2020) (mro)
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Filing
135
OPINION & ORDER re: (117 in 1:17-cv-00916-RA) MOTION to Dismiss - Defendants' Motion to Dismiss Second Amended Consolidated Securities Class Action Complaint filed by Dror Niv, Robert Lande, Global Brokerage, Inc. f/k/a FXCM In c., William Ahdout, (126 in 1:17-cv-00916-RA) LETTER MOTION for Leave to File a Sur-Reply addressed to Judge Ronnie Abrams from Phillip Kim dated July 2, 2018 filed by 683 CAPITAL PARTNERS, LP, Shipco Transport, Inc. For the foregoing reasons, Defendants' motion to dismiss Plaintiffs' second amended complaint is granted with respect to Defendant Robert Lande, and denied with respect to Defendants Global Brokerage, Inc., Dror Niv, and William Ahdout. Spec ifically, the Court concludes that Plaintiffs have adequately alleged that Global Brokerage, Inc., Dror Nov, and William Ahdout committed securities fraud with regard to: (1) the agency-model statements identified by Plaintiffs from the beginning of the Class Period through the end of FXCM and Effex's order flow arrangement; (2) the order flow statements identified by Plaintiffs from the beginning of the Class Period through the Company's 2014 10-K; and (3) Plaintiffs' fa ilure to disclose Effex as a VIE from the beginning of the Class Period through the end of FXCM and Effex's order flow arrangement. In light of this Opinion and Order, Plaintiffs' July 2, 2018 letter motion for leave to file a sur-re ply in support of their second amended complaint is hereby denied as moot. The Clerk of Court is respectfully directed to terminate items 117 and 126 on the docket and dismiss Defendant Lande from this action. Counsel for the remaining parties s hall appear for a conference on May 9, 2019, at 3:30 p.m. No later than one week before this conference, theparties shall jointly submit a proposed case management plan and scheduling order. A template for the order is available at http://nysd.uscourts.gov/judge/Abrams. SO ORDERED. (Robert Lande and Robert N. Lande terminated.) (Signed by Judge Ronnie Abrams on 3/28/2019) Filed In Associated Cases: 1:17-cv-00916-RA, 1:17-cv-00955-RA, 1:17-cv-01028-RA, 1:17-cv-02506-RA(anc)
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