In re Global Brokerage, Inc. f/k/a FXCM Inc. Securities Litigation
- Ronnie Abrams
- 1:17-cv-00916
- U.S. District Court · Southern District of New York
- 2
In re Global Brokerage Securities Litigation: Judge Moses granted a request to seal limited portions of a deposition exhibit.
The parties to the securities litigation, Joseph Patt, and the public’s access to Exhibit 9.
What happened
In re Global Brokerage, Inc. f/k/a FXCM, Inc. Securities Litigation involved a joint request by the plaintiffs and defendants to seal Exhibit 9 to a declaration. The exhibit contained selected deposition testimony from Joseph Patt.
The requested redactions covered Mr. Patt’s personal financial information and confidential information about 683 Capital Partners’ clients, investment strategy, and results. The parties filed a public version with the redactions and a sealed version showing the proposed redactions.
The court granted the sealing application, finding that the minimal, narrowly tailored redactions protected privacy and confidential business information whose disclosure could harm competitive standing. The order was signed by Judge Barbara Moses.
The detailed version
- In re Global Brokerage, Inc. f/k/a FXCM Inc. Securities Litigation · No. 1:17-cv-00916
- Ronnie Abrams
- June 15, 2020
Background
Plaintiffs Shipco Transport Inc., E-Global Trade and Finance Group, Inc., and 683 Capital Partners, LP, and defendants Global Brokerage, Inc. f/k/a FXCM, Inc., Dror Niv, and William Ahdout jointly requested permission to file Exhibit 9 to the Declaration of Israel Dahan under seal. Exhibit 9 contained excerpts from Joseph Patt’s deposition, which the plaintiffs had designated confidential under the protective order.
The requested redactions concerned Mr. Patt’s personal financial information and non-public information about 683 Capital Partners’ clients, investment strategy, and results. The defendants filed a public version of Exhibit 9 with the redactions, while the sealed filing showed the redactions highlighted for the court.
Ruling
The court granted the application. It found that the redactions were minimal and narrowly tailored to protect a witness’s personal financial information and confidential information about a party’s investment strategy and results. The court concluded that these interests outweighed the presumption of public access to judicial documents for Exhibit 9. Judge Barbara Moses signed the order.
Read the full 2-page opinion on CourtListener, the free public archive maintained by the Free Law Project.