Fairfield Greenwich Group - Securities Class Action

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Copyright (c) 2001
Stanford Law School

Fairfield Greenwich Group Summary: According to the complaint, this is a class action on behalf of investors in Fairfield Sentry Limited ("Fairfield Sentry" or the "Fund") seeking to recoup losses resulting from the Fund's estimated $7 billion in assets being almost entirely invested in a Ponzi scheme conducted by Bernard Madoff and his firm Bernard L. Madoff Investment Securities ("BMIS"). Plaintiffs' losses resulted from the breach of fiduciary duty and gross negligence of the Fund Investment Manager, Placement Agent, Custodian, and others, as well as the negligent representations made by the Fund Placement Agent and its principals and related entities. In addition, the Fund Administrator,Investment Manager and Placement Agent, and their principals and related entities, all unjustly enriched themselves by taking fees predicated on the phony profits reported by the Madoff Ponzi scheme. Plaintiffs are entitled to a constructive trust over such fees, and to preliminary and permanent injunctive relief to secure such recovery.

On January 30, 2009, the Court consolidated three separate actions: Anwar v. Fairfield Greenwich Group, Docket No. 1:09-cv-00118-VM; Pacific West Health Medical Center Inc. Employees Retirement Trust v. Fairfield Greenwich Group, Docket No. 1:09-cv-00134-VM; and Inter-American Trust v. Greenwich Group, Docket No. 1:09-cv-00301-VM. The Master Docket has been established under Anwar et al. v. Fairfield Greenwich Limited, et al., Docket No. 09 CV 00118. The Court designates Lovell Stewart Halebian LLP, Wolf Popper LLP and Boies, Schiller & Flexner LLP as Interim Co-Lead Counsel.

On January 30, 2009, consolidation order and order for appointment of interim co-lead counsel was entered into the court record.

On March 23, 2009, it was ordered that the Clerk of Court close the referenced higher numbered case, 09 Civ. 2222, as a separate action and remove it from the Court's database of open cases.

On March 24, 2009 and March 31, 2009, three orders of consolidation were granted and entered into the court record.

On April 24, 2009, consolidated amended complaint and jury demand were filed with the court on behalf of the plaintiffs.

On May 05, 2009, and May 06, 2009, two orders of consolidation were granted and entered into the court record.

On July 07, 2009, an order appointing lead plaintiff and lead counsel was granted by the court.

On September 18, 2009, an amended complaint was filed against the defendants.

On September 29, 2009, a Second Consolidated complaint was filed with the court against the defendants.

On October 14, 2009, an order to consolidate the related cases was granted by the court under the docket number: 09-cv-00118.

On December 10, 2009, the Clerk of Court was directed to consolidate the two cases captioned above for all pretrial purposes and all filings in connection with the consolidated action be docketed against the remaining lower number case, 09 Civ. 0118.

On March 12, 2010, an order consolidating four new cases was entered into the Court’s record.

On March 24, 2010, Pursuant to Rule 41(a)(1)(A)(i) of the Federal Rules of Civil Procedure, the plaintiff(s) and or their counsel(s), thereby gave notice that the above-captioned action was voluntarily dismissed without prejudice against the defendant(s) Lion Fairfield Capital Management Limited.

On June 23, 2010, the Court issued an Order that directed the Clerk of Court to consolidate two cases captioned above for all pretrial purposes under the docket numbers 09 Civ. 0118 and MDL No. 2088.

On August 18, 2010, a Decision and Order was issued by the Court granting in part and denying in part the defendants’ motion to dismiss.

On September 7, 2010, the Plaintiffs Standard Chartered Bank International (Americas) Limited and StanChart Securities International, Inc., voluntarily dismissed this action without prejudice.

On September 14, 2010, the Court found that the forum selection clauses in the disputed contracts were binding on some of the parties and that the Court was an inappropriate forum for adjudicating the disputes, thereby dismissing more Defendants from this suit.

On September 20, 2010, an order was issued by the Court denying the defendant’s motion for reconsideration.

On September 21, 2010, a Clerk's Judgment was entered in connection with the defendant’s motion to dismiss that was granted by the Court.

On October 04, 2010, a Decision and Order was issued by the Court dismissing the lead plaintiff’s complaint was Granted in part and Denied in part.

On November 16, 2010, a Decision and Order granted the motion of plaintiff for reconsideration of the Court's Decision and Order dated October 4, 2010.

On December 16, 2010, the Court issued an order directing the Clerk of Court to consolidate two cases captioned 10 Civ. 9196 and 09 Civ. 0118 for all pretrial purposes. All filings in connection with the consolidated action will be docketed under 09 Civ. 0118.

On January 08, 2011, the Court issued an order directing the Clerk of Court to consolidate two cases captioned 11 Civ. 0813 and 09 Civ. 0118 for all pretrial purposes. All filings in connection with the consolidated action will be docketed under 09 Civ. 0118. On February 28, 2011, the plaintiffs filed a Second Amended Complaint.

On February 28, 2011, the plaintiffs filed a Second Amended Complaint.

On July 21, 2011, the Court issued an order granting the plaintiffs motion to dismiss the complaint against two of the named defendants based on forum selection issues and the plaintiffs' intention to file suit against these defendants in the proper jurisdiction of Singapore. On August 30, 2011, the Court issued an Order granting the Plaintiff's Motion to Voluntarily Dismiss certain counts and against certain individual defendants. The case continues against remaining defendants under the remaining counts.

On November 4, 2011, the Court issued an order granting one of the plaintiffs in the case's request to dismiss all charges against all defendants. The case continues by other plaintiffs against the defendants.

INDUSTRY CLASSIFICATION:
SIC Code:
Sector: Financial
Industry: Investment Services

COMPANY/ISSUER NAME:	Fairfield Greenwich Group
COMPANY/ISSUER TICKER:
COMPANY WEBSITE:

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Pasha S. Anwar, et al. v. Fairfield Greenwich Group, et al.

COURT: S.D. New York	DOCKET NUMBER: 09-CV-00118
JUDGE NAME: Hon. Victor Marrero
DATE FILED: 01/07/2009	SOURCE:
CLASS PERIOD START: 08/14/2006	CLASS PERIOD END: 12/11/2008
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Lovell Stewart Halebian LLP (former New York) 500 Fifth Avenue, New York, NY, 10110 (voice) 212.608.1900, (fax) 212.719.4677, info@lshllp.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Notice of Removal
Type: Notice		Date on the document: 01/07/2009
Consolidation Order And Order For Appointment Of Interim Co-Lead Counsel
Type: Order of Consolidation		Date on the document: 01/27/2009
Consolidation Order And Order For Appointment Of Interim Co-Lead Counsel
Type: Order of Consolidation		Date on the document: 01/27/2009
U.S. District Court Civil Docket
Type: Docket		Date on the document: 01/30/2009
Order
Type: Order of Consolidation		Date on the document: 03/23/2009
Order
Type: Order of Consolidation		Date on the document: 10/14/2009
Plaintiff's Voluntary Notice Of Dismissal Without Prejudice
Type: Notice		Date on the document: 09/07/2010

REFERENCE COMPLAINT

In re: Fairfield Greenwich Group Securities Litigation

COURT: S.D. New York	DOCKET NUMBER: 09-CV-00118
JUDGE NAME:
DATE FILED: 09/29/2009	SOURCE:
CLASS PERIOD START: 08/14/2006	CLASS PERIOD END: 12/11/2008
TYPE OF COMPLAINT: Second Amended and Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Boies, Schiller & Flexner LLP (New York) 575 Lexington Avenue, New York, NY, 10022 (voice) 212.446.2383, (fax) 212.446.2350, Lovell Stewart Halebian LLP (former New York) 500 Fifth Avenue, New York, NY, 10110 (voice) 212.608.1900, (fax) 212.719.4677, info@lshllp.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Amended Complaint
Type: Complaint		Date on the document: 04/24/2009
Order
Type: Order		Date on the document: 05/05/2009
Order
Type: Order		Date on the document: 05/06/2009
Amended order
Type: Order		Date on the document: 06/04/2009
Order
Type: Order		Date on the document: 06/09/2009
Order
Type: Order		Date on the document: 06/25/2009
Order
Type: Order		Date on the document: 07/07/2009
Amended Complaint
Type: Complaint		Date on the document: 09/18/2009
Second Consolidated Amended Complaint
Type: Complaint		Date on the document: 09/29/2009
U.S. District Court Civil Docket
Type: Docket		Date on the document: 10/06/2009
Order
Type: Order		Date on the document: 12/10/2009
Order
Type: Order of Consolidation		Date on the document: 03/12/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 03/16/2010
Notice Of Voluntary Dismissal Of Defendant Lion Fairfield Capital Management Ltd.
Type: Notice		Date on the document: 03/24/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 04/07/2010
Order
Type: Order		Date on the document: 06/23/2010
Decision and Order
Type: Order		Date on the document: 08/18/2010
Decision And Amended Order
Type: Order		Date on the document: 08/20/2010
Decision And Order
Type: Order		Date on the document: 09/13/2010
Decision And Order
Type: Order		Date on the document: 09/14/2010
Decision And Order
Type: Order		Date on the document: 09/20/2010
Amended Statement Of Standard Chartered International (USA) Ltd. And Standard Chartered Plc
Type: Other		Date on the document: 09/21/2010
Judgment
Type: Other		Date on the document: 09/21/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 09/21/2010
Decision And Order
Type: Order		Date on the document: 10/04/2010
Stipulation Dismissing Counts 9, 10, And 11 of The Second Consolidated Amended Complaint Against Defendant Gregory Bowes
Type: Other		Date on the document: 10/28/2010
Decision And Order
Type: Order		Date on the document: 11/16/2010
Order
Type: Order		Date on the document: 12/16/2010
Order
Type: Order		Date on the document: 02/08/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 02/08/2011
Order
Type: Order of Consolidation		Date on the document: 02/10/2011
Order
Type: Order of Consolidation		Date on the document: 02/14/2011
Plaintiff Valladolid's Second Amended Complaint For Breach Of Fiduciary Duty And Gross Negligence
Type: Complaint		Date on the document: 02/28/2011
Stipulation And Order Dismissing The Operative Complaints Filed Against Standard Chartered International (USA) Ltd., Standard Chartered Bank (Switzerland) S.A. And Standard Chartered PLC In The Above-Captioned Actions
Type: Order		Date on the document: 07/21/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 07/25/2011
Stipulation And Order Dismissing Stanchart Securities International And Counts One And Two Of Plaintiffs' Amended Complaint
Type: Order		Date on the document: 08/30/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 09/01/2011
Stipulated Order Of Dismissal With Prejudice
Type: Other		Date on the document: 02/22/2012
U.S. District Court Civil Docket
Type: Docket		Date on the document: 02/22/2012
Order Preliminarily Approving Settlement And Providing For Notice
Type: Other		Date on the document: 12/14/2012

OTHER DOCUMENTS
Verified Class Action Complaint - Jury Trial Demanded
Case Name and/or Number: Pacific West Health Medical Center Inc. Employees Retirement Trust , et al. v. Fairfield Greenwich Group, et al.
Type: Complaint		Date on the document: 01/08/2009
Class Action
Case Name and/or Number: Inter-American Trust, et al. v. Fairfield Greenwich Group, et al.
Type: Complaint		Date on the document: 01/12/2009
U.S. District Court Civil Docket
Case Name and/or Number: Inter-American Trust, et al. v. Fairfield Greenwich Group, et al.
Type: Docket		Date on the document: 01/30/2009
U.S. District Court Civil Docket
Case Name and/or Number: Pacific West Health Medical Center Inc. Employees Retirement Trust, et al. v. Fairfield Greenwich Group, et al.
Type: Docket		Date on the document: 01/30/2009

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