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FactSet Research Systems Inc.
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Notice | Filed: February 20, 2024 | Entered: February 20, 2024 Dinosaur Financial Group LLC et al v. Defendants CUSIP Global Services et al
Anti-Trust | New York Southern
Notice of Appearance
NOTICE OF APPEARANCE by Elana Katcher on behalf of Dinosaur Financial Group LLC, Swiss Life Investment Management Holding AG..(Katcher, Elana)
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Order | Filed: January 22, 2024 | Entered: January 23, 2024 Dinosaur Financial Group LLC et al v. Defendants CUSIP Global Services et al
Anti-Trust | New York Southern
Order on Motion for Conference
MEMO ENDORSEMENT re: 130 LETTER RESPONSE in Opposition to Motion addressed to Judge Katherine Polk Failla from James J. Kovacs dated January 19, 2024; granting in part and denying in part 129 Letter Motion for Conference re: 129 LETTER MOTION for Conference re: Discovery Dispute addressed to Judge Katherine Polk Failla from Ronald J. Aranoff, Leiv Blad, and Robert N. Kaplan dated January 16, 2024. ENDORSEMENT: The Court has reviewed Plaintiffs' letter request for a Local Rule 37.2 Conference, and FactSet's response in opposition. (See Dkt. #129 (Pl. Letter); 130 (Def. Opp.)). Broadly, Plaintiffs seek an order compelling Defendant FactSet Research Systems Inc. ("FactSet") to produce non-privileged documents concerning a 2009 investigation by the European Commission ("EC"), to the extent that those documents "specifically discuss whether the CUSIP identifiers are copyrighted or copyrightable." (Pl. Letter 1). Plaintiffs seek three categories of non-privileged communications: (i) internal communications within FactSet's predecessor, Defendant S&P Global, Inc. ("S&P"); (ii) communications between S&P and Defendant American Bankers Association ("ABA" and together with FactSet and S&P, "Defendants"); and (iii) communications by S&P to the European Commission (the "EC"). (Pl. Letter 1). As set forth herein, Plaintiffs' application is GRANTED IN PART. While FactSet is correct that the Court dismissed Plaintiffs' declaratory judgment claim premised on CUSIP numbers being not copyrightable as a matter of law, Plaintiffs are correct that the question of whether Defendants believed that the CUSIP numbers were copyrightable is relevant to the issue of whether Defendants' proffered business justifications for their licensing policy were pretextual. (Pl. Letter 1; Def. Opp. 2). See Dinosaur Fin. Grp. LLC v. S&P Glob., Inc., No. 22 Civ. 1860 (KPF), 2023 WL 4562031, at *18-21 (S.D.N.Y. July 14, 2023). Likewise, FactSet's objections that copyright law varies by geography are best put to the merits of the case, and do not foreclose Plaintiffs' position that the issue of Defendants' beliefs regarding the copyright laws of various jurisdictions are relevant, at least for the purposes of discovery. (Def. Opp. 3). The Court also cannot accept FactSet's passing argument that these documents are irrelevant due to the mere passage of time. (Id.). To the extent that discovery of these documents would burden FactSet, it may indicate as much in its responses to Plaintiffs' requests for production. Ultimately, however, non-privileged communications reflecting Defendants' discussions of the EC investigation and whether the CUSIP identifiers are copyrighted or copyrightable are relevant to the theories of liability in this case. That said, the Court takes seriously the confidentiality obligations imposed by EC regulations and will not order the production of materials that are properly within the scope of FactSet's cited regulations, or any specific protective orders entered into by and between Defendants and the EC in connection with the investigation. (Def. Opp. 2-3). See In re Int. Rate Swaps Antitrust Litig., No. 16 Misc. 2704 (PAE), 2018 WL 5919515, at *3 (S.D.N.Y. Nov. 13, 2018) (observing that "U.S. courts presented with similar disputes[] uphold[] the application of the EC's confidentiality requirements for documents created as part of EC investigations, even after such investigations have terminated" (collecting cases)). While no EC regulator has made a specific objection to discovery in this matter, the Court's determination respects the "EC's unambiguous directives as to the confidential treatment it intended for its written communications with the subjects of its investigations, and the legitimate interests served by such confidentiality." Id. (citing Ings v. Ferguson, 282 F.2d 149, 152 (2d Cir. 1960) ("Upon fundamental principles of international comity, our courts dedicated to the enforcement of our laws should not take such action as may cause a violation of the laws of a friendly neighbor or, at the least, an unnecessary circumvention of its procedures"). Accordingly, FactSet may withhold documents from production to the extent that the materials are covered by a nondisclosure obligation arising from the EC's investigation and the EC's broader regulations. Other non-privileged documents, however, that simply reference the EC investigation are properly within the scope of Plaintiffs' request. The Clerk of Court is directed to terminate the ... (truncated)
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Response | Filed: January 19, 2024 | Entered: January 19, 2024 Dinosaur Financial Group LLC et al v. Defendants CUSIP Global Services et al
Anti-Trust | New York Southern
Response in Opposition to Motion
LETTER RESPONSE in Opposition to Motion addressed to Judge Katherine Polk Failla from James J. Kovacs dated January 19, 2024 re: 129 LETTER MOTION for Conference re: Discovery Dispute addressed to Judge Katherine Polk Failla from Ronald J. Aranoff, Leiv Blad, and Robert N. Kaplan dated January 16, 2024. . Document filed by FactSet Research Systems Inc...(Kovacs, James)
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