Ferguson et al v. Ruane Cuniff & Goldfarb Inc. et al
| Michael L. Ferguson, Myrl C. Jeffcoat and Deborah Smith |
| Ruane Cuniff & Goldfarb Inc., DST Systems, Inc., The Advisory Committee of the DST Systems, Inc. 401(K) Profit Sharing Plan, The Compensation Committee of the Board of Directors of DST Systems, Inc., George L. Argyros, Tim Bahr, Jerome H. Bailey, Lynn Dorsey Bleil, Lowell L. Bryan, Ned Burke, John W. Clark, Michael G. Fitt, Gary D. Forsee, Steven Gebben, Gregg Wm. Givens, Kenneth Hager, Charles E. Haldeman, Jr., Lawrence M. Higby, Joan Horan, Stephen Hooley, Robert T. Jackson, Gerard M. Lavin, Brent L. Law, Samuel G. Liss, Thomas McDonnell, Jude C. Metcalfe, Travis E. Reed, M. Jeannine Strandjord, Beth Sweetman, Douglas Tapp and Randall Young |
| 1:2017cv06685 |
| September 1, 2017 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| Andrew L. Carter |
| Employee Retirement Income Security Act of 1974 |
| 29 U.S.C. ยง 1001 |
| Plaintiff |
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Filing
369
ORDER DENYING MOTION TO STAY terminating 341 Letter Motion to Seal. Accordingly, the Court DENIES the Arbitration Claimants' motion to stay. With respect to the issue of those arbitration awards already entered against DST, the status of th ose awards will be determined at final judgment, either after trial or after settlement. Additionally, the Court grants DST's motion to file under seal an exhibit to their brief regarding the awards that have been entered against DST. In light of this order, the hearing scheduled for February 4, 2022 is cancelled. The Clerk of Court is respectfully directed to terminate the letter motion at ECF No. 341. (Signed by Judge Andrew L. Carter, Jr on 2/3/2022) (ate)
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Filing
357
ORDER: Therefore, the operative complaint is Plaintiffs' Second Amended Complaint, ECF No. 82. Plaintiffs shall file their amended complaint no later than January 24, 2022. The hearing on the motion to stay is adjourned until Wednesday, January 26, 2022 at 2:30 p.m. ( Amended Pleadings due by 1/24/2022.) (Signed by Judge Andrew L. Carter, Jr on 1/18/2022) (ate)
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Filing
356
ORDER RESCHEDULING HEARING: The telephonic order to show cause hearing scheduled for today, January 12, 2022 at 3:00 p.m. is rescheduled to January 20, 2022 at 3:30 p.m. ( Show Cause Hearing set for 1/20/2022 at 03:30 PM before Judge Andrew L. Carter Jr.) (Signed by Judge Andrew L. Carter, Jr on 1/12/2022) (ate)
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Filing
333
ORDER: Thus, the nature of the injunction weighs against imposing a bond. The Court also notes that DST is separately posting in the Western District of Missouri a bond in the substantial amount of $12,084,500.70 to secure arbitration awards won by the Arbitration Claimants while DST appeals the confirmation of those awards. Accordingly, the Court declines to require the DST Defendants to post a bond. (Signed by Judge Andrew L. Carter, Jr on 11/24/2021) (ate)
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Filing
330
ORDER granting 323 Letter Motion to Seal. In accordance with the Court's ruling at the hearing on November 18, 2021, the DST Defendants' Motion for a Preliminary Injunction is GRANTED. ECF No. 312. The DST Defendants' Motion to S eal is also GRANTED. ECF No. 323. It is hereby ORDERED that all members of the Federal Rule of Civil Procedure 23(b)(1) class certified by this Court on August 17, 2021, including the Arbitration Claimants, are ENJOINED from instituting new action s or litigating in arbitration or other proceedings against the DST Defendants matters arising out of or relating to the facts or transactions alleged in the Ferguson amended complaint. The DST Defendants and the Arbitration Claimants shall submit briefing, not to exceed three pages, regarding the amount of security to be posted. The DST Defendants' brief is due Friday, November 18, 2021. The Arbitration Claimants' response is due Monday, November 22, 2021. The Court orders the D ST Defendants and the Arbitration Claimants to submit briefing on the issue of arbitration awards that have been entered against the DST Defendants. The Parties shall jointly submit a proposed briefing schedule by Wednesday, November 24, 2021. The Clerk of Court is respectfully directed to terminate the letter motion at ECF No. 323. (Signed by Judge Andrew L. Carter, Jr on 11/18/2021) (ate)
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Filing
328
ORDER re: 312 Proposed Order to Show Cause With Emergency Relief, filed by DST Systems, Inc., The Compensation Committee of the Board of Directors of DST Systems, Inc., The Advisory Committee of the DST Systems, Inc. 401(K) Profit Sharing Plan. The Court is in receipt of the parties briefing regarding the DST Defendants Motion for Preliminary Injunction. ECF No. 312. The Court shall hold a telephonic hearing on the motion on Thursday, November 18 at 12:00 p.m. The parties should contact the Court at 1-888-363-4749 (access code: 3768660). SO ORDERED. (Telephone Conference set for 11/18/2021 at 12:00 PM before Judge Andrew L. Carter Jr..) (Signed by Judge Andrew L. Carter, Jr on 10/29/2021) (tg)
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Filing
318
ORDER: The Court denies DST's request for a temporary restraining order. The Arbitration Claimants are ordered to show cause why a preliminary injunction should not be issued pursuant to Rule 65 of the Federal Rules of Civil Procedure enjoi ning the Arbitration Claimants from instituting new actions or litigating in arbitration or other proceedings against the DST Defendants regarding matters arising out of or relating to the facts or transactions alleged in the amended complaint. Th e Arbitration Claimants shall submit a response to the application, in writing, by September 21, 2021. Any response by the DST Defendants shall be submitted by October 12, 2021. The Parties shall be sure to address what, if any, application judicial estoppel should have on this application. SO ORDERED. (Signed by Judge Andrew L. Carter, Jr on 8/31/2021) (rj)
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Filing
311
MEMORANDUM AND ORDER granting 300 Motion to Certify Class; denying 265 Motion re: 300 MOTION to Certify Class (renewed pursuant to ECF No. 296)., 265 MOTION for Preliminary Approval of Class Action Settlement and for Related Relief as to RCG Defendants., 266 MOTION for Preliminary Approval of Class Action Settlement and for Related Relief as to DST Defendants., 298 MOTION for Leave to File Third Amended Complaint (renewed pursu ant to ECF No. 296). ; denying 266 Motion re: 300 MOTION to Certify Class (renewed pursuant to ECF No. 296)., 265 MOTION for Preliminary Approval of Class Action Settlement and for Related Relief as to RCG Defenda nts., 266 MOTION for Preliminary Approval of Class Action Settlement and for Related Relief as to DST Defendants., 298 MOTION for Leave to File Third Amended Complaint (renewed pursuant to ECF No. 296). ; granting 298 Motion for Leave to File Document. Accordingly, the Court denies Plaintiffs' motions for premilitary approval of the class action settlements. (ECF Nos. 265, 266.) Accordingly, the Court denies Plaintiffs' motions for premilitary approval of the class action settlements. (ECF Nos. 265, 266.) For the reasons set forth above, Plaintiff's motion for leave to file a third amended complaint is granted. (ECF No. 298.) Plaintiffs' motion for class certification pursuan t to Rule 23 is granted. (ECF No. 300.) Additionally, Plaintiffs' motions for preliminary approval of the class action settlements are denied. (ECF Nos. 265, 266.) Likewise, the identical motion for preliminary approval of the class settlement in 20 CV 7092 (ECF No. 8) is denied for the reasons above. SO ORDERED. (Signed by Judge Andrew L. Carter, Jr on 8/17/2021) (rj)
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Filing
303
NOTICE AND ORDER FOR WITHDRAWAL OF COUNSEL: Please take notice that, upon the annexed declaration, and subject to the approval of the Court, Joshua D. Kaye hereby withdraws as counsel for defendants DST Systems, Inc., the Advisory Committee of the DST Systems, Inc., 401(k) Profit Sharing Plan, and the Compensation Committee of the Board of Directors of DST Systems, Inc. (the "DST Defendants"). Lewis R. Clayton, Jessica S. Carey, and Jeffrey J. Recher of Paul, Weiss, Rifkind, Wharton & Garrison LLP will continue to represent the DST Defendants in this proceeding. Attorney Joshua David Kaye terminated. (Signed by Magistrate Judge Barbara C. Moses on 4/26/2021) (cf)
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Filing
296
ORDER denying without prejudice 124 Motion for Leave to File Document; denying without prejudice 126 Motion to Certify Class. In light of the Second Circuits opinion in Cooper v. Ruane Cunniff & Goldfarb Inc., Docket No. 17-2805 (2d Cir. Ma r. 4, 2021), Plaintiffs' motion for leave to file a third amended complaint is denied without prejudice, (ECF No. 124), and Plaintiffs motion for class certification pursuant to Rule 23 is denied without prejudice. (ECF No. 126.) Additionall y, the Court grants the following motions to seal. (ECF Nos. 169, 177, 181, 184, 188, 200, 207.) Plaintiffs shall renew their motions for class certification and leave to file a third amended complaint by April 5, 2021. Defendants and the arbitra tion claimants shall submit any response by May 3, 2021. Plaintiffs shall reply by May 10, 2021. The parties shall address what, if any, effect the Copper opinion has on the motion for class certification and motion for leave to file a third amended complaint. (Signed by Judge Andrew L. Carter, Jr on 3/8/2021) (cf)
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Filing
293
ORDER granting 283 Letter Motion to Seal. So Ordered. (Signed by Judge Andrew L. Carter, Jr on 2/12/2021) (js)
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Filing
264
ORDER:In light of Plaintiffs' proposed settlement with the RCG and DST Defendants, the Intervenor Arbitration Claimants shall file any opposition to the Preliminary Approval Orders by January 18, 2021. So Ordered (Responses due by 1/18/2021) (Signed by Judge Andrew L. Carter, Jr on 1/11/2021) (js)
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Filing
255
ORDER: In light of Plaintiffs' settlement in principle with the RCG Defendants, the remaining Parties shall file a status letter regarding where the briefing stands on Plaintiffs' motion to amend and motion for class certification by January 5, 2021. So ordered. (Signed by Judge Andrew L. Carter, Jr on 12/23/2020) (js)
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Filing
252
ORDER: The Court has received a joint letter-application, via email, requesting that all current discovery deadlines be vacated in contemplation of settlement. Absent extraordinary circumstances not present here, the Court does not accept letter-applications by email. The parties are directed to file their scheduling request on the Court's electronic docket. (Signed by Magistrate Judge Barbara C. Moses on 12/17/2020) (jwh)
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Filing
248
ORDER: The Court has received and reviewed the parties' confidential joint letter dated December 4, 2020. It is hereby ORDERED that, no later than December 16, 2020, the parties shall again submit a joint confidential settlement status update letter, via email, to Moses_NYSDChambers@nysd.uscourts.gov. (Signed by Magistrate Judge Barbara C. Moses on 12/7/2020) (cf)
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Filing
246
ORDER: It is hereby ORDERED that, no later than December 4, 2020, the parties shall submit a joint confidential settlement status update letter via email to Moses_NYSDChambers@nysd.uscourts.gov. SO ORDERED. (Signed by Magistrate Judge Barbara C. Moses on 12/2/2020) (ks)
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Filing
245
ORDER granting 241 Letter Motion to Seal. So Ordered. (Signed by Judge Andrew L. Carter, Jr on 11/30/2020) (js)
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Filing
239
REVISED ORDER: All remaining fact discovery,including depositions, shall be completed no later than January 8, 2021. Depositions of experts shall be completed no later than April 5, 2021. All discovery shall be completed no later than April 5, 2021. (As further set forth in this Order.) ( Deposition due by 4/5/2021., Discovery due by 4/5/2021., Fact Discovery due by 1/8/2021.) (Signed by Magistrate Judge Barbara C. Moses on 11/19/2020) (cf)
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Filing
237
ORDER: All remaining fact discovery,including depositions, shall be completed no later than January 8, 2021. Depositions of experts shall be completed no later than April 5, 2021. All discovery shall be completed no later than April 5, 2021. (As further set forth in this Order.) (Deposition due by 4/5/2021., Discovery due by 4/5/2021., Fact Discovery due by 1/8/2021.) (Signed by Magistrate Judge Barbara C. Moses on 11/12/2020) (cf)
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Filing
236
ORDER granting 233 Letter Motion to Seal. The Court grants the DSTDefendants' motion to keep the letter response kept under seal. So Ordered. (Signed by Judge Andrew L. Carter, Jr on 11/9/2020) (js)
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Filing
204
ORDER: The Court received a call from James Stapleton who stated that he is an arbitrator presiding in one of the arbitrations related to this matter. He requested an update from the Court regarding the pending motion for class certification and the Court's timetable for deciding the motion. The motion for class certification is still under consideration by the Court and the Court does not have a timeframe for deciding the motion at this time. If the parties wish, they may provide this inf ormation to the relevant arbitrators. The Court does not intend to contact Mr. Stapleton to provide this information or discuss the pending motion for class certification at all. By 11:00 a.m. tomorrow morning, the parties should respond to this Order, providing the Court with their thoughts on this proposed course of action. (Signed by Judge Andrew L. Carter, Jr on 8/19/2020) (rj)
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Filing
198
ORDER: This matter is scheduled for Oral Argument on August 13, 2020 at 10:00 a.m. Each of the four partiesthe Ferguson Plaintiffs, Defendants, Arbitration Claimants, and Canfield/Mendon Plaintiffsin that order, will have six minutes for opening statements. In the same order, the parties will then each have two minutes for rebuttal. In the same order, each party will also have three minutes for closing statements. (Signed by Judge Andrew L. Carter, Jr on 8/11/2020) (rj)
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Filing
195
ORDER. RCG shall promptly produce to plaintiffs the complete RCG Settlement Agreement, including exhibits, and all Releases executed to date by Settling Plaintiffs. RCG may designate these documents "Confidential" pursuant to the Protective Order. SO ORDERED. (Signed by Magistrate Judge Barbara C. Moses on 8/10/20) (yv) (Main Document 195 replaced on 8/10/2020) (cf). Modified on 8/10/2020 (cf).
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Filing
180
ORDER: The Court hereby schedules oral argument on the pending motion for class certification for August 13, 2020 at 10:00 a.m. The parties should appear by telephone. Plaintiffs should initiate the call to the other parties, and once all relevan t parties are on the line, should contact the Court at 1-888-363-4749 (Conference Code: 3768660) on the date and time specified above., Oral Argument via telephone set for 8/13/2020 at 10:00 AM before Judge Andrew L. Carter Jr. (Signed by Judge Andrew L. Carter, Jr on 7/20/2020) (rj)
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Filing
166
ORDER granting 163 LETTER MOTION for Discovery Conference or Resolution of Discovery Dispute. Defendant RCG is hereby ORDERED to provide the Settlement Agreement (as that term is defined in the joint letter at Dkt. No. 163) to the Court, for in camera review, no later than July 14, 2020, along with a copy of the arbitrators' decision regarding the parallel dispute between the DST Parties and the Claimants, if such decision has been issued. The document(s) shall be emailed to Moses_NYSDChambers@nysd.uscourts.gov. SO ORDERED. (Signed by Magistrate Judge Barbara C. Moses on 7/13/2020) (jca)
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Filing
123
ORDER, It is hereby ORDERED that: The parties shall substantially complete written discovery with respect to documents and information readily available through electronic or other remote means (including the service of privilege logs in accorda nce with Local Civil Rule 26.2 as to documents or information withheld on privilege grounds) no later than June 8, 2020. Judge Moses will conduct a further telephonic status conference on June 4, 2020, at 10:00 a.m. At that time, counsel are direct ed to call the Court's conference line (888)557-8511 and enter the access code 7746387. In advance of the conference, and no later than June 1, 2020, the parties shall submit a joint letter updating the Court on the progress of discovery, out lining in general terms documents that have been produced in response to written discovery and documents that have not yet been produced. It is the intention of the Court to set further discovery deadlines at the June 4 conference, including deadlines for depositions and expert discovery. SO ORDERED. ( Discovery due by 6/8/2020., Telephone Conference set for 6/4/2020 at 10:00 AM before Magistrate Judge Barbara C. Moses.) (Signed by Magistrate Judge Barbara C. Moses on 4/9/20) (yv)
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Filing
121
ORDER: In light of the ongoing national public health emergency, the status conference scheduled for April 9, 2020, at 10:00 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 4/9/2020 at 10:00 AM before Magistrate Judge Barbara C. Moses.) (Signed by Magistrate Judge Barbara C. Moses on 3/19/2020) (ama)
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Filing
120
ORDER: The Court is in receipt of Defendants' letter motion requesting a pre- motion conference in anticipation of their motion to dismiss. Given that a motion to disqualify is pending in a related case involving some of the same law firms, Defendants' motion requesting a conference is DENIED without prejudice. (Signed by Judge Andrew L. Carter, Jr on 2/5/2020) (rj)
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Filing
119
STIPULATED PROTECTIVE ORDER...regarding procedures to be followed that shall govern the handling of confidential material...(As further set forth in this Order.) Notwithstanding the designation of material as "Confidential" in discovery, t here is no presumption that such Confidential Discovery Material will be filed with the Court under seal. The parties shall follow Judge Moses's Individual Practices with respect to pretrial requests for filing under seal. (Signed by Magistrate Judge Barbara C. Moses on 1/31/2020) (cf)
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Filing
96
OPINION & ORDER re: 86 MOTION to Dismiss Plaintiffs' 401(K)-Related Allegations filed by DST Systems, Inc., The Compensation Committee of the Board of Directors of DST Systems, Inc., The Advisory Committee of the DST Syst ems, Inc. 401(K) Profit Sharing Plan. For the foregoing reasons, Defendants' Partial Motion to Dismiss is GRANTED. The Clerk of Court is respectfully directed to terminate the motion at docket entry number 86. (Signed by Judge Andrew L. Carter, Jr on 9/18/2019) (mro)
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