Snitzer et al v. The Board of Trustees of the American Federation of Musicians and Employers' Pension Fund et al
| Andrew Snitzer and Paul Livant |
| The Board of Trustees of the American Federation of Musicians and Employers' Pension Fund, The Investment Committee of the Board of Trustees of the American Federation of Musicians and Employers' Pension Fund, Raymond M. Hair, Jr., Augustino Gagliardi, Gary Matts, William Moriarty, Brian F. Rood, Laura Ross, Vince Trombetta, Philip E. Yao, Christopher J.G. Brockmeyer, Michael DeMartini, Andrea Finkelstein, Elliot H. Greene, Robert W. Johnson, Alan H. Raphael, Jeffrey Ruthizer, Bill Thomas, Maureen B. Kilkelly and Does 1-6 |
| 1:2017cv05361 |
| July 14, 2017 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| Valerie E. Caproni |
| Employee Retirement Income Security Act of 1974 |
| 28 U.S.C. ยง 1001 |
| Plaintiff |
Follow case documents by RSS
Available Case Documents
The following documents for this case are available for you to view or download:
| Document Text |
|---|
Filing
234
MEMO ENDORSEMENT: on 226 dismissing as moot Motion for Bond. ENDORSEMENT: The Motion for a Rule 7 Bond is hereby dismissed as moot. The Clerk of Court is respectfully directed to mail a copy of this endorsement to Mr. Stoner and note the mailing on the docket. The Clerk of Court is further directed to terminate the open motion at Dkt. 226 and close this case. SO ORDERED. (Signed by Judge Valerie E. Caproni on 10/26/2020) (ama) Transmission to Docket Assistant Clerk for processing.
|
|
Filing
229
ORDER: IT IS HEREBY ORDERED that Mr. Stoner must file his response in opposition to the Motion by no later than Monday, November 2, 2020. Any party that wishes to reply in support of the Motion must do so by no later than Monday, November 9, 2020. Th e Clerk of Court is respectfully directed to mail a copy of this order to Mr. Stoner and note the mailing on the docket. SO ORDERED., ( Responses due by 11/2/2020, Replies due by 11/9/2020.) (Signed by Judge Valerie E. Caproni on 10/20/2020) (ama) Transmission to Docket Assistant Clerk for processing.
|
|
Filing
225
AMENDED FINAL APPROVAL OF THE SETTLEMENT AGREEMENT; AMENDED FINAL JUDGMENT; AMENDED AWARD OF ATTORNEYS' FEES, EXPENSES, AND SERVICE AWARDS; AND AMENDED ORDER OF DISMISSAL WITH PREJUDICE: amending 205 Judgment. ORDERED, ADJUDGED, DECREED, AND F OUND THAT: After extensive settlement negotiations, including a formal mediation, the Parties agreed to settle this case. This Final Approval Order and Judgment incorporates and makes a part hereof the Settlement Agreement (ECF #139-1). The Settlemen t Agreement provides substantial and meaningful relief to the Settlement Class, including the payment of at least $17 million to the Plan and the Plan Trustees' agreement to implement the Governance Provisions specified in Section 8 of the Settlement Agreement. The Court also concludes that, because the Action is being settled rather than litigated, the Court need not consider manageability issues that might otherwise be presented by trial of a class action involving the issues in the Action. For the purposes of Settlement only, Plaintiffs Andy Snitzer and Paul Livant are confirmed as the Class Representatives of the Settlement Class, and Steven A. Schwartz and Robert J. Kriner of Chimicles Schwartz Kriner & Donaldson-Smith LLP an d their firm are confirmed as Class Counsel. The Action is hereby dismissed, with prejudice, on the merits, as against the Defendants, on the terms and conditions set forth in the Settlement Agreement, and without costs to any party except as provide d herein and in the Settlement Agreement. For those defendants who were dismissed without prejudice during the pendency of the litigation, namely Maureen Kilkelly, Andrea Finkelstein, Harold Bradley, Lovie Smith-Wright, Melinda Wagner, Thomas Lee, an d William Foster (see ECF Nos. 39, 71), the Action is dismissed with prejudice as to them as well. The Court has reviewed the objections to Class Counsel's request for attorneys fees and reimbursement of expenses. Having considered all of those objections, Class Counsel are hereby awarded (i) attorneys' fees in the amount of $7,786,500 (29% of the Gross Settlement Amount) plus (ii) reimbursement of their reasonable expenses in the amount of $805,130.07, to be deducted fr om the Gross Settlement Amount. Attorneys' fees in this amount are fair and reasonable in light of the positive results achieved by Class Counsel, the monetary benefits obtained in this Action, the substantial risks associated with this Action, Class Counsel's skill and experience in class action litigation of this type, and the fee awards in comparable cases. Service Awards are awarded to the Class Representatives in the amount of $10,000 each, to be deducted from Class Counsel&# 039;s Attorneys' Fees and Costs and not from the Gross Settlement Amount. Effectuating and enforcing the Settlement and the terms of the Settlement Agreement including payment of the $26.85 million Gross Settlement Amount, implementation of the Governance Provisions, and the payment of Plaintiffs' counsel's attorneys' fees and reimbursement of expenses and Service Awards as ordered by the Court. The above-captioned Action is hereby dismissed in its entirety with prejudice. The Clerk of Court is respectfully directed to terminate all pending motions and deadlines and close the case. And as set forth herein. IT IS SO ORDERED. (Signed by Judge Valerie E. Caproni on 10/06/2020) (ama)
|
|
Filing
205
FINAL APPROVAL OF THE SETTLEMENT AGREEMENT; FINAL JUDGMENT; AWARD OF ATTORNEYS' FEES, EXPENSES, AND SERVICE AWARDS; AND ORDER OF DISMISSAL WITH PREJUDICE: ORDERED, ADJUDGED, DECREED, AND FOUND THAT: This case arises out of Plaintiffs' alleg ations, inter alia, that Defendants violated the Employee Retirement Income Security Act of 1974, as amended, and breached their fiduciary duties in connection with certain investment decisions they made and the processes used by them to make those d ecisions from 2010 to the OCIO Management Date in 2017. After extensive settlement negotiations, including a formal mediation, the Parties agreed to settle this case. This Final Approval Order and Judgment incorporates and makes a part hereof the Set tlement Agreement (ECF #139-1) The Settlement Agreement provides substantial and meaningful relief to the Settlement Class, including the payment of at least $17 million to the Plan and the Plan Trustees' agreement to implement the Governan ce Provisions specified in Section 8 of the Settlement Agreement. The Court also concludes that, because the Action is being settled rather than litigated, the Court need not consider manageability issues that might otherwise be presented by trial of a class action involving the issues in the Action. For the purposes of Settlement only, Plaintiffs Andy Snitzer and Paul Livant are confirmed as the Class Representatives of the Settlement Class, and Steven A. Schwartz and Robert J. Kriner of Chimic les Schwartz Kriner & Donaldson-Smith LLP and their firm are confirmed as Class Counsel. The Action is hereby dismissed, with prejudice, on the merits, as against the Defendants, on the terms and conditions set forth in the Settlement Agreement, and without costs to any party except as provided herein and in the Settlement Agreement. The Court has reviewed the objections to Class Counsel's request for attorneys' fees and reimbursement of expenses. Having considered all of those objecti ons, Class Counsel are hereby awarded (i) attorneys' fees in the amount of $7,786,500 (29%) of the Gross Settlement Amount) plus (ii) reimbursement of their reasonable expenses in the amount of $713,204.45, to be deducted from the Gross Settlement Amount. Attorneys' fees in this amount are fair and reasonable in light of the positive results achieved by Class Counsel, the monetary benefits obtained in this Action, the substantial risks associated with this Action, Class Counsel's skill and experience in class action litigation of this type, and the fee awards in comparable cases. Service Awards are awarded to the Class Representatives in the amount of $10,000 each, to be deducted from Class Counsel's Attorneys' Fees and Costs and not from the Gross Settlement Amount. By reason of the Settlement, and approval hereof, there is no just reason for delay and this Final Approval Order and Judgment shall be deemed a final judgment pursuant to the F ederal Rules of Civil Procedure. Effectuating and enforcing the Settlement and the terms of the Settlement Agreement including payment of the $26.85 million Gross Settlement Amount, implementation of the Governance Provisions, and the payment of Plaintiffs' counsel's attorneys' fees and reimbursement of expenses and Service Awards as ordered by the Court; The above-captioned Action is hereby dismissed in its entirety with prejudice. The Clerk of Court is respectfully directed to terminate all pending motions and deadlines and close the case. And as set forth herein. IT IS SO ORDERED. (Signed by Judge Valerie E. Caproni on 8/28/2020) (ama)
|
|
Filing
204
ORDER: IT IS HEREBY ORDERED that the pro se objectors-Ms. Bryant, Mr. Hosticka, and Mr. Stonershall each have five minutes to address the Court. The Court notes for the record that chambers has emailed instructions for appearing via video to Ms. Brya nt, Mr. Hosticka, Mr. Stoner, and all counsel. IT IS FURTHER ORDERED that Mr. Walfish' and Mr. Stoner's additional submissions (attached) are filed on ECF for purposes of maintaining an accurate record. Because they were submitted beyond th e objection deadline, Class Counsel need not respond in writing. Because Mr. Walfish and Mr. Stoner are each appearing at the hearing, they may raise any relevant issues they wish orally, and Class Counsel should be prepared to address them. IT IS FURTHER ORDERED that Class Counsel make this Order available on the settlement website no later than the close of business today, August 24, 2020. SO ORDERED. (Signed by Judge Valerie E. Caproni on 8/24/2020) (ama)
|
|
Filing
202
ORDER: IT IS HEREBY ORDERED that the fairness hearing shall proceed via video conference, using the Skype platform. In advance of the conference, counsel for the parties and counsel for the ad hoc coalition of objectors will each receive a link, via email, to participate by video. Chambers will also email all objectors who previously expressed an interest in attending the fairness hearing, to inquire whether they would like to speak at the hearing; any objector who confirms, before 12:00 P.M. on August 21, 2020, that he or she would like to speak will receive a link to participate via video. Recipients of a video link are ordered not to share or otherwise distribute the link to anyone else. All other objectors or interested member s of the public may listen to the hearing by dialing 1-917-933-2166, using Conference ID: 83851271. IT IS FURTHER ORDERED that Class Counsel must make this Order available on the settlement website no later than August 18, 2020. SO ORDERED. (Signed by Judge Valerie E. Caproni on 8/17/2020) ( Telephone Conference set for 8/26/2020 at 10:00 AM before Judge Valerie E. Caproni.) (ks) Modified on 8/17/2020 (ks).
|
|
Filing
186
ORDER: IT IS HEREBY ORDERED that the attached class member communications are filed on ECF for purposes of maintaining an accurate public record. All attachments were postmarked on or before July 27, 2020. SO ORDERED. (Signed by Judge Valerie E. Caproni on 7/30/2020) (ama)
|
|
Filing
183
ORDER: IT IS HEREBY ORDERED that the attached class member communications are filed on ECF for purposes of maintaining an accurate public record. IT IS FURTHER ORDERED that Mr. Stoner's second request for reconsideration is DENIED. Although Mr. Stoner disclaims moving for the reconsideration, which he now concedes he cannot do as an unnamed and non-appearing class member, the letter invites the Court to reconsider its decision sua sponte, which is nothing more than an attempt to skirt the fact that Mr. Stoner has not appeared in this action. The request is therefore denied; the Court further notes that it sees no basis for sanctioning Class Counsel, who has complied with this Court's deadlines and orders; nor does Mr. Stoner' ;s request for information related to his ethics complaints or other claims not raised in this case justify disclosure of privileged documents, which would be released not only to class members but to the broader public. While the parties' reque st to bar Mr. Stoner from further excessive filings is understandable, the Court does not see a need to do so at this time. As the parties note, the objections deadline is three days from now, on July 27, 2020. After that deadline, any unsolicited ob jections filed by any class member, including Mr. Stoner, will be rejected asuntimely, and no further response shall be required. Mr. Stoner is warned, however, that further attempts to re-litigate issues already decided by the Court may result in sa nctions, including a bar against further submissions. Because the parties' request to bar Mr. Stoner from further submissions is hereby denied, no further response from Mr. Stoner is requested, and any such response will be disregarded as moot. A copy of this Order has been emailed to Mr. Stoner as a courtesy. SO ORDERED. (Signed by Judge Valerie E. Caproni on 7/24/2020) Copies Mailed By Chambers. (ama)
|
|
Filing
180
ORDER: IT IS HEREBY ORDERED that the attached objections are filed on ECF for purposes of maintaining an accurate public record. SO ORDERED. (Signed by Judge Valerie E. Caproni on 7/20/2020) (ama)
|
|
Filing
178
ORDER: IT IS HEREBY ORDERED that Mr. Stoner's requests are denied, for the reasons that follow. While the Court has carefully considered Mr. Stoner's views as a putative class member and repeatedly ordered the parties to respond whenev er there is any conceivable merit to his arguments, Mr. Stoner has not appeared as a party in this case and cannot usurp the role of the class representatives. Like any other objecting class member, Mr. Stoner may submit his objections for cons ideration in a timely manner and be heard at the fairness hearing. There are, however, over 100,000 class members, Dkt. 163, and the Court has an obligation to ensure that the fairness hearing proceeds expeditiously and in the best interests of all members, not merely the most vocal. All other provisions as further set forth in this order. So Ordered. (Signed by Judge Valerie E. Caproni on 7/16/2020) Copies Mailed By Chambers. (js)
|
|
Filing
175
ORDER: IT IS HEREBY ORDERED that the Depositions are to be disclosed to the class members and posted on the settlement website, no later than July 15, 2020. While the Court agrees that the most probative information is already summarized and disc losed in the existing materials, there is value in allowing class members to review the evidence firsthand. Furthermore, while only three class members requested additional disclosures, the Court has received many more objections to the final appr oval of the settlement, and the added transparency may alleviate some class members' concerns. To the extent that such material could be marshalled in support of non-meritorious objections, counsel has ample opportunity to respond to such obj ections as they arise. The Court, however, finds that further litigation preceding any disclosure of the Notes, which have been requested by only one class member, would unnecessarily delay the fairness hearing and eventual resolution of this case ; the request for the disclosure of the Notes is, therefore, denied. IT IS FURTHER ORDERED THAT Class Counsel's request to disclose the parties' summary judgment statements is denied. The documents were stricken from the record as prematurely submitted. Accordingly, they are neither judicial documents nor evidence. SO ORDERED. (Deposition due by 7/15/2020.) (Signed by Judge Valerie E. Caproni on 7/13/2020) (jca)
|
|
Filing
171
SEALED ORDER: Plaintiff's counsel must file a response no later than July 7, 2020, addressing inadvertently disclosed emails. SO ORDERED. (Signed by Judge Valerie E. Caproni on 7/06/2020) (ama) Modified on 7/7/2020 (ama).
|
|
Filing
170
ORDER: IT IS HEREBY ORDERED that the parties must file a joint letter setting forth their respective positions in response to the requests for additional disclosures, no later than July 10, 2020. SO ORDERED. (Signed by Judge Valerie E. Caproni on 7/03/2020) (ama)
|
|
Filing
161
ORDER: IT IS HEREBY ORDERED that, no later than 5:00 P.M. on May 15, 2020, the parties must review the Court's revisions and either adopt the changes and file a final version of the proposed documents on ECF, or file a joint letter explaining th e basis for any objection(s) to the Court's revisions. To the extent that there are any objections, the parties must attach proposed revisions and provide Word versions to the Court via email. SO ORDERED. (Signed by Judge Valerie E. Caproni on 5/14/2020) (ama)
|
|
Filing
156
ORDER: IT IS HEREBY ORDERED that, no later than 5:00 P.M. on May 11, 2020, the parties must review the Court's revisions and either adopt the changes and re-file the proposed settlement notice on ECF, or file a joint letter explaining the basis for any objection(s) to the Court's revisions. SO ORDERED. (Signed by Judge Valerie E. Caproni on 5/04/2020) (ama)
|
|
Filing
152
ORDER: IT IS HEREBY ORDERED that the parties must file a joint response, explaining whether they intend to make the Amended Complaint available on the settlement website in unredacted form, and if not, why not. That response is due by April 28, 2020. The Court finds that Mr. Stoner's remaining objections are better addressed after preliminary approval and the disclosureof relevant documents to class members. SO ORDERED., ( Responses due by 4/28/2020) (Signed by Judge Valerie E. Caproni on 4/22/2020) (ama)
|
|
Filing
146
ORDER: IT IS HEREBY ORDERED that the telephone conference is rescheduled for April 8, 2020, at 2:00 P.M. All parties and interested members of the public should attend the conference by calling 1-888-363-4749, using the access code 3121171 and the se curity code 6350. Callers who are not speaking at the teleconference are reminded to mute their phones to avoid disrupting the proceeding. (Telephone Conference set for 4/8/2020 at 02:00 PM before Judge Valerie E. Caproni.) (Signed by Judge Valerie E. Caproni on 4/6/2020) (jwh)
|
|
Filing
140
ORDER: IT IS HEREBY ORDERED that the parties must jointly submit a supplemental memorandum of law, no later than April 17, 2020, explaining why the posting of the settlement documents on a website constitutes adequate notice for those 21,881 class members. The memorandum must also discuss alternative or supplemental methods of notice. SO ORDERED. (Signed by Judge Valerie E. Caproni on 3/31/2020) (jca)
|
|
Filing
134
ORDER: IT IS HEREBY ORDERED that the parties must appear for a teleconference with the Court at 2:30 P.M. on February 14, 2020, or submit an update in writing on or before February 12, 2020. The current deadlines for the submission of proposed fi ndings of fact and conclusions of law, the final pretrial conference, and the bench trial are adjourned pending further order. So Ordered. (Telephone Conference set for 2/14/2020 at 02:30 PM before Judge Valerie E. Caproni.) (Signed by Judge Valerie E. Caproni on 1/30/2020) (js)
|
Use the links below to access additional information about this case on the US Court's PACER system. A subscription to PACER is required.
Access this case on the New York Southern District Court's Electronic Court Filings (ECF) System
- Search for Party Aliases
- Associated Cases
- Attorneys
- Case File Location
- Case Summary
- Docket Report
- History/Documents
- Parties
- Related Transactions
- Check Status
Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia.
