Opinion

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CLEARY GOTTLIEB STEEN & HAMILTON LLP

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BY ECF ee

Honorable Lewis A. Kaplan (Ff

United States District Judge SO ORD) FRED

Southern District of New York

Daniel Patrick Moynihan

United States Courthouse

500 Pearl Street LEWIS A. KAPLAN, USD

Court Room 21B / ‘B (26

New York, New York 10007-1312

Re: Edmar Financial Company, LLC et al v. Currenex, Inc. et al, Case No. 21-

cv-06598 (LAK) (S.D.N.Y.), Defendant Goldman Sachs & Co. LLC’s

Motion to Seal Exhibits Cited in Plaintiffs’ Class Certification Papers

Dear Judge Kaplan:

On behalf of Defendant Goldman Sachs & Co. LLC (“Goldman”), and pursuant to the

Stipulation and Order of Confidentiality so-ordered in this action on October 18, 2023 (ECF No.

113) and the Joint Stipulation and Order Regarding Class Certification Sealing and Page Limits

(ECF No. 387), we respectfully request that seven documents attached as exhibits to Plaintiffs’

motion for class certification (ECF Nos. 389-91) (the “Motion”), and portions of the Motion

reflecting information from those documents, remain under seal.

Specifically, Goldman requests that the following remain under seal:

e Exhibit 17 to the Brockett Declaration (ECF 391-17 (Schonberg Transcript));

e Exhibit 18 to the Brockett Declaration (ECF 391-18 (GS-EDMAR-00920851));

e Exhibit 19 to the Brockett Declaration (ECF 391-19 (GS-EDMAR-00002650));

e Exhibit 28 to the Brocket Declaration (ECF 391-28 (GS-EDMAR-00336920));

e Exhibit 45 to the Brockett Declaration (ECF 391-45 (GS-EDMAR-00001574));

e Exhibit 46 to the Brockett Declaration (ECF 391-46 (GS-EDMAR-00827316));

e Exhibit 47 to the Brockett Declaration (ECF 391-47 (GS-EDMAR-00368325)).

It is clear from the face of each document that it contains commercially sensitive and/or

proprietary information, including without limitation regarding trading strategies and information

Cleary Gottlieb Steen & Hamilton LLP or an affiliated entity has an office in each of the locations listed above.

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Hon. Lewis A. Kaplan, p. 2

about the fees that Goldman paid for use of the Currenex platform. Specifically, Exhibits 18 and

19 include pricing information and Exhibits 28, 45, 46 and 47 include information regarding

Goldman’s trading and other business strategies. Exhibit 17 contains excerpts from a deposition

transcript which reflect sensitive financial and proprietary information about Goldman’s trading

strategies on different FX platforms and the commission rates that Goldman paid for use of the

Currenex platform. As a result, each document was appropriately designated as “Highly

Confidential” pursuant to the Court’s Protective Order and should be redacted because its

disclosure could cause competitive harm to Goldman. Courts have recognized that documents

that reflect “internal pricing strategies and competitive pricing data [are] sufficiently sensitive to

warrant redaction” and routinely permit parties to seal documents like the ones at issue here. Jn

re Digital Music Antitrust Litig., 321 F.R.D. 64, 82 n.1 (S.D.N.Y. 2017); see also In re B&C KB

Holding GmbH, 2023 WL 2021299, at *1 (S.D.N.Y. Feb. 14, 2023) (courts “routinely permit

parties to seal or redact commercially sensitive information in order to protect confidential

business and financial information”).

For the same reasons articulated above, the Court has previously granted sealing requests

with respect to Exhibit 18 (See ECF Nos. 170, 175, and 232), Exhibit 45 (See ECF Nos. 257,

273, and 344), and portions of the same transcript as Exhibit 17 (See ECF Nos. 295, 322, and

345).

For the reasons set forth above, the Court should order that the exhibits at issue and

references to them in Plaintiffs’ Motion remain sealed.

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Hon. Lewis A. Kaplan, p. 3

Dated: December 2, 2025

New York, New York

Respectfully submitted,

/s/ Rishi N. Zutshi

Carmine D. Boccuzzi, Jr.

(cboccuzzi@cgsh.com)

Rishi N. Zutshi

(rzutshi@cgsh.com)

CLEARY GOTTLIEB STEEN & HAMILTON LLP

One Liberty Plaza

New York, New York 10006

T: 212-225-2000

F: 212-225-3999

Attorneys for Defendant Goldman Sachs & Co. LLC

cc: Counsel of Record