Corient Services LLC v. Halladay
- Vargas
- 1:24-cv-08395
- U.S. District Court · Southern District of New York
- 1
In Corient Services v. Halladay, Judge Vargas granted permission to redact confidential business information from two hearing transcripts.
Corient Services, LLC and Corient Partners, LLC, whose request to redact information from two proceeding transcripts was granted; the unredacted transcripts must remain under seal.
What happened
Corient Services LLC and Corient Partners LLC asked in Corient Services LLC v. Halladay for permission to redact proprietary and commercially sensitive information from transcripts of court proceedings held on November 14 and 21, 2024.
The information concerned the acquisition of Corient Capital Partners, LLC, including the valuation of a closely held business and related financial information. The court found that disclosure could significantly harm Corient’s competitive position and that protecting the information outweighed the public’s qualified First Amendment right of access.
Judge Jeannette A. Vargas granted the request. The plaintiffs must file redacted transcripts publicly and file the unredacted transcripts under seal; the Clerk was directed to terminate ECF No. 76.
The detailed version
- Corient Services LLC v. Halladay · No. 1:24-cv-08395
- Vargas
- Jan. 8, 2025
Background Corient Services, LLC and Corient Partners, LLC asked the court for permission to redact certain proprietary and commercially sensitive information from transcripts of proceedings held on November 14 and 21, 2024. The information related to the acquisition of Corient Capital Partners, LLC, including the valuation of a closely held business and related financial information.
Court’s Analysis The court found that the plaintiffs sufficiently showed that the information qualified as confidential business information. It determined that disclosure could materially harm the plaintiffs’ competitive position and potentially cause Corient a significant competitive disadvantage. The court also concluded that, in this instance, the interest in protecting confidential business information outweighed the qualified First Amendment presumption that court proceedings and records should be publicly accessible.
Ruling The court granted the plaintiffs’ request for permission to redact the specified information. The plaintiffs were directed to file redacted transcripts on the public docket and file the unredacted transcripts under seal. The Clerk of Court was directed to terminate ECF No. 76. The order was issued by Judge Jeannette A. Vargas.
Read the full 1-page opinion on CourtListener, the free public archive maintained by the Free Law Project.