| In FX Manipulation Case Fight About
Discovery Hits SDNY Judge Aaron Declines to
Modify
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- The
Source
SDNY COURTHOUSE,
May 7 – In 2018 a 227-page
complaint was filed about
foreign exchange manipulation,
against a slew of banks
including Citigroup, Bank of
America, MUFG, RBS, Barclays,
UBS, HSBC, JP Morgan Chase and
Deutsche Bank.
On June 24,
2020, there was a proceeding
before U.S. District Court for
the Southern District of New
York Magistrate Judge Stewart
D. Aaron. Inner City Press
covered it.
Things got
surprisingly raucous between
the corporate counsel, about
electronic discovery search
terms.
Judge Aaron
said, I am the judge, I am
going to speak. And he did,
ordering the parties to meet
and confer and provide hit
counts to each other, that
relate in any way to FX
trading.
Judge Aaron
set another conference. So it
goes with corporate
litigation.
On
February 26, another
conference was held. Judge
Aaron listened, probed, then
ordered that "each of those
defendants that has not
provided complete hit count
reports to Plaintiffs shale
provide a program report to
the Court regarding such
reports."
On May 7,
Judge Aaron held another
conference, and Inner City
Press again covered it. Judge
Aaron spoke about spade-work
for the seed set. He denied
the plaintiffs' request to
modify the protective order.
"Given the procedural posture
of the second FX action in the
UK, there is no compelling
need for the modification of
the protective order at this
time." Next up? June 17.
The case is
Allianz Global Investors GmbH
et al v. Bank Of America
Corporation et al.,
18-cv-10364 (Schofield /
Aaron).
***
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