IN RE DIDI GLOBAL INC. SECURITIES LITIGATION

Background

The plaintiffs asked the court to maintain a permanent seal on Exhibit 4 to their reply declaration supporting class certification. Exhibit 4 contained excerpts from a deposition taken under Federal Rule of Civil Procedure 30(b)(6). The plaintiffs said the excerpts included private personal information about Alaka Holdings Ltd.’s designee, including a home address, biographical information, and family affairs. They also said the exhibit contained information about Alaka’s and its designee’s trading strategies, objectives, and transactions.

The plaintiffs separately asked the court to seal Exhibits D–G to a declaration and portions of the related brief and declaration that referred to those exhibits. According to the filing, the underwriter defendants had designated the information in Exhibits D–G as “FOR ATTORNEYS’ OR EXPERTS’ EYES ONLY.”

Court’s Analysis

The filing relied on the Second Circuit’s framework in Lugosch v. Pyramid Co. of Onondaga. Under that framework, the court weighs the public’s right to access court records against competing interests, including privacy. Sealing is permitted when it is necessary to protect an important interest and is narrowly tailored to do so.

The plaintiffs argued that the privacy interests in Exhibit 4 outweighed the presumption of public access. They also noted that the exhibit had been temporarily sealed for about five months and that no intervenor had asked for access.

Ruling

Judge Valerie Figueredo granted the motion to seal Exhibit 4. The court directed the parties to make a showing under Lugosch before permanently sealing Exhibits D–G. The order therefore granted the request concerning Exhibit 4 but did not state that the request concerning Exhibits D–G was granted or denied.