# Opinion > District Court, S.D. New York · July 23, 2026 URL: https://www.frixlaw.com/law-library/cases/11433210 ## Case - **Full name:** California State Teachers’ Retirement System v. UBS AG et al. - **Court:** District Court, S.D. New York - **Decided:** July 23, 2026 - **Opinion:** 100trialcourt - **Cited by:** 0 later opinions in the Frix Law Library ## Citator (automated) - No negative treatment found by the automated citator. That is not the same as a confirmation that the case is good law; read the citing cases. - Full citator and citing cases: https://www.frixlaw.com/law-library/cases/11433210 ## Opinion text King & Spalding LLP King 8 New Yor New Yer 108 Spaiding T: +1 212 556 2100 F: +1 212 556 2222 kslaw.com David S. Lesser Partner T: +1 212 556 2261 dlesser@kslaw.com tape fe. July 17, 2026 A ere ee af fox VIA ECE PN yA A: O , p&er~ The Honorable P. Kevin Castel _. of United States District Court for the Southern District of New York «© att 500 Pearl Street ~ LG bh / I □□ New York, NY 10007-1312 EL a Jee" &j 4 2 > o Re: California State Teachers’ Retirement System v. UBS AG et al., 13-cv-2811 (PKC) (S.D.N.Y.) Dear Judge Castel: We write on behalf of Defendant The Royal Bank of Scotland ple (n/k/a NatWest Markets plc) (“NatWest”) in the above captioned action. / Pursuant to Rule 5 of the Court’s Individual Practices in Civil Cases, NatWest respectfully moves the Court to provisionally treat as sealed Exhibit 5 to the Declaration of David S. Lesser in Support of NatWest’s Motion to Dismiss the Fifth Amended Complaint (“Exhibit 5”) (Dkt. 682-5). ] As with Exhibit 3 to the Declaration of Jefferson E. Bell in Support of Defendants’ Letter-Brief, Dkt. 641-3, Exhibit 5 is a confidential settlement agreement resolving claims in the separate Allianz Global Investors GmbH, et al. v. Bank of America Corporation, et al., 1:18-cv-10364 (LGS) (S.D.N.Y.) litigation. Accordingly, for the same reasons discussed in the parties’ earlier sealing requests, Dkts. 639, 652, 657, and granted in this Court’s order, Dkt. 663 at 3-4, NatWest respectfully requests that the Court permit NatWest to file Exhibit 5 under seal. The settlement agreement is confidential, not otherwise public, and concerns settling entities that are not parties to this action. This Court has already held that the full “25-page” agreement “has no apparent bearing on the anticipated motion, implicates the privacy interests of non-parties, relates to the important goal of advancing private settlement, and likely need not be subject to public inspection.” Dkt. 663 at 4. See, e.g., SEC v. Tel. Grp. Inc., 2020 WL 3264264, at *3 (S.D.N.Y. June 17, I 2020) (Castel, J.) (“protecting the confidentiality of the settlement negotiation process represents a significant countervailing factor that can outweigh the presumption of public access and warrant the sealing of settlement negotiations materials”); Spin Master, Ltd. v. Aomore-US, 2024 WL 3250815, at *2 (S.D.N.Y. June 28, 2024) (where a settlement agreement implicates “innocent third parties not presently before the Court,” there is a “heavy weight placed on their interest,” and the “right to public access to these documents is outweighed”). Further, in line with the Court’s guidance, Defendants have narrowly tailored their request and seek only to seal the settlement agreement itself, having The Honorable P. Kevin Castel July 17, 2026 Page 2 otherwise “endeavor[ed] to submit without redaction the relevant release language of the Allianz Settlement that... bars CALSTRS’s claims.” Dkt. 663 at 3. Today, NatWest will file a copy Exhibit 5 provisionally under seal, in accordance with Rule 5 of the Court’s Individual Practices. If the Court is not inclined to grant NatWest’s request, NatWest respectfully requests the opportunity to notify the relevant third parties. NatWest further requests that the Court grant an exception to the requirement of formal motion practice supported by a memorandum of law and an affidavit as required by the Court’s Individual Practices, Rule 4. See Dkts. 307, 627, 663, 673 (granting similar requests). We appreciate the Court’s consideration of this matter. Respectfully submitted, /s/ David S. Lesser David S. Lesser Cc: Counsel of Record (via ECF) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/11433210. Public record. Not legal advice.