The opinion
Application GRANTED for substantially the reasons stated in this
letter.
June 22, 2021
The Clerk of Court is respectfully directed to maintain the entries a
VIA ECF documents at Dkt. Nos. 718, 720, 723, 725, 726, 727, 733, 735, 738
740, 743, 748, 751 and 753 under seal with access limited to the
The Honorable Lorna G. Schofield individuals listed in Appendix A to this letter and to close the motic
United States District Judge at Dkt. No. 715.
Thurgood Marshall U.S. Courthouse
40 Foley Square Dated: March 21, 2022 (
New York, New York 10007 New York, New York crates Duran JUDGE
Re: = Nypl, et al. v. JPMorgan Chase & Co, et al., Case No. 1:15-cv-9300
Dear Judge Schofield:
Pursuant to Rule I.D.3 of Your Honor’s Individual Rules and Procedures for Civil Cases, the
parties respectfully seek leave to file under seal limited portions of the papers in support of and in
opposition to plaintiffs’ motion for class certification and the parties’ Daubert motions (the
“Parties’ Submissions”) as set forth below.
Certain portions of the Parties’ Submissions quote directly from or otherwise refer to documents
that have been designated as “Highly Confidential” under the Stipulation and Order of
Confidentiality (hereinafter the “Protective Order”) because they contain “material regarding
trading and investment strategies, pricing and cost information, customer lists, business strategy,
trade secrets and other commercial or financial information, the disclosure of which to another
Party or non-party would create a substantial risk of causing the Disclosing Party to suffer
significant competitive or commercial disadvantage ... .” (ECF No. 249 at 2-3.) In particular,
these documents disclose confidential, proprietary information concerning how each bank sets
retail foreign exchange rates for the purchase of physical foreign currency at its retail branches in
the United States. Because the process used to set these rates reflects confidential pricing
information and sensitive business strategies, the parties respectfully request that it not be
disclosed publicly. (See ECF No. 597, July 20, 2020 Order (granting plaintiffs’ motion to seal
portions of a joint letter containing similar information for this reason).) The proposed redactions
in the Parties’ Submissions are narrowly tailored to ensure that the bulk of the Parties’ Submissions
will be publicly available on the docket.
The parties also respectfully request that the Court protect from public disclosure certain
deposition testimony that is not material to class certification but has been designated Highly
Confidential under the Protective Order. By allowing the parties to file these transcripts under
seal, the Court would be protecting from disclosure testimony that is not material to class
certification but contains information that was designated Highly Confidential, while allowing
public access to that testimony that is material to class certification through the parties’ legal briefs.
As the Court knows, the Second Circuit has recognized that the right of public access to judicial
documents is not absolute and “the court must balance competing considerations against it.” See
Lugosch vy. Pyramid Co. of Onondaga, 435 F.3d 110, 119-20 (2d Cir. 2006). For instance,
documents may be sealed where “closure is essential to preserve higher values and is narrowly
red to serve that interest.” see also Nixon v. Warner Commc’ns., Inc.
(1978) (“[T]he decision as to access is one best left to the sound discretion of the trial court, a
circumstances of the particular case.”).
720, 2013 WL 211096, at *4 (N.D. Okla. Jan. 18, 2013) (“Courts
agreement.”).
Pursuant to Rule I.D.3 of Your Honor’s Individual Rules and Procedures of
Parties’ Submissions
. Further pursuant to Rule I.D.3 of Your Honor’s Individual Rules and
SHEARMAN & STERLING LLP SULLIVAN & CROMWELL LLP
By: s/ Adam S. Hakki* By: s/ Matthew A. Schwartz*
Adam S. Hakki Matthew A. Schwartz
Jeffrey J. Resetarits Maeghan O. Mikorski
Attorneys for Defendants Bank of Attorneys for Defendants
America Corporation and Bank of Barclays PLC and Barclays Capital
America, N.A. Ine.
COVINGTON & BURLING LLP LOCKE LORD LLP
By: s/ Andrew A. Ruffino* By: s/ J. Matthew Goodin*
Andrew A. Ruffino Roger B. Cowie
Andrew D. Lazerow Gregory T. Casamento
J. Matthew Goodin
Julia C. Webb
Attorneys for Defendants Citicorp, Attorneys for Defendants HSBC Bank
Citigroup Inc. and Citibank N.A. USA, N.A. and HSBC North America
Holdings, Inc.
SKADDEN, ARPS, SLATE, DAVIS POLK & WARDWELL LLP
MEAGHER & FLOM LLP
By: s/ Boris Bershteyn By: s/ Paul S. Mishkin*
Boris Bershteyn Paul S. Mishkin
Peter S. Julian Adam G. Mehes
Tansy Woan Alexander Bystryn
Attorneys for Defendants JPMorgan Attorneys for Defendant The Royal
Chase & Co. and JPMorgan Chase Bank of Scotland plc, now known as
Bank, N.A NatWest Markets Ple
GIBSON, DUNN & CRUTCHER LLP
By: s/Eric J. Stock*
Eric J. Stock
Melanie L. Katsur
Attorneys for Defendant UBS AG
*Signatures used with permission pursuant to S.D.N.Y. ECF Rule 8.5
APPENDIX A
Alioto Law Firm Law Offices of Lingel H. Winters
Joseph M. Alioto Lingel H. Winters
Thomas P. Pier
Attorneys for Plaintiffs Attorneys for Plaintiffs
Nedeau Law Firm Law Offices of Lawrence G. Papale
Christopher A Nedeau Lawrence Papale
Attorneys for Plaintiffs Attorneys for Plaintiffs
SHEARMAN & STERLING LLP SULLIVAN & CROMWELL LLP
Adam S. Hakki Matthew A. Schwartz
Jeffrey J. Resetarits Maeghan O. Mikorski
George B. Adams
Attorneys for Defendants Bank of America Attorneys for Defendants Barclays PLC and
Corporation and Bank of America, N.A. Barclays Capital Inc.
COVINGTON & BURLING LLP LOCKE LORD LLP
Andrew A. Ruffino Roger B. Cowie
Andrew D. Lazerow Gregory T. Casamento
J. Matthew Goodin
Julia C. Webb
Attorneys for Defendants Citicorp, Citigroup | Attorneys for Defendants HSBC Bank USA,
Inc. and Citibank N.A. N.A. and HSBC North America Holdings, Inc.
SKADDEN, ARPS, SLATE, DAVIS POLK & WARDWELL LLP
MEAGHER & FLOM LLP
Paul S. Mishkin
Boris Bershteyn Adam G. Mehes
Peter S. Julian Alexander Bystryn
Tansy Woan
Attorneys for Defendants JPMorgan Chase & | Attorneys for Defendant The Royal Bank of
Co. and JPMorgan Chase Bank, N.A Scotland plc, now known as NatWest Markets
Ple
GIBSON, DUNN & CRUTCHER LLP
Eric J. Stock
Melanie L. Katsur
Attorneys for Defendant UBS AG