UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF...
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UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK IN RE CITIGROUP INC. BOND LITIGATION Master File No. 08 Civ. 9522 (SHS) ECF Case SUPPLEMENTAL DECLARATION OF STEVEN B. SINGER IN FURTHER SUPPORT OF (1) BOND PLAINTIFFS’ MOTION FOR FINAL APPROVAL OF CLASS ACTION SETTLEMENT AND PLAN OF ALLOCATION; AND (2) BOND COUNSEL’S MOTION FOR AN AWARD OF ATTORNEYS’ FEES AND REIMBURSEMENT OF LITIGATION EXPENSES STEVEN B. SINGER declares as follows: 1. I am a partner in the law firm of Bernstein Litowitz Berger & Grossmann LLP (“BLBG”), the Court-appointed Bond Counsel. I submit this declaration in further support of Bond Plaintiffs’ motion for final approval of the Settlement and Plan of Allocation, and Bond Counsel’s application for an award of attorneys’ fees in connection with services rendered in this Action, as well as for reimbursement of expenses incurred in connection with this Action. 2. I have reviewed the fee objection filed by Vincent Verdiramo and John J. Pentz on behalf of Lexie L. Hopson & Michelle B. Hopson, JT WROS on or about June 26, 2013 (the “Hopson Objection”). 3. The Hopson Objection makes various statements and assumptions regarding the manner in which Bond Counsel employs staff attorneys that are incorrect. For example, all staff attorneys working on this matter for my firm were W-2 employees of BLBG, meaning that the firm paid FICA and Medicare taxes on their behalf, along with state and federal unemployment taxes. The staff attorneys were not issued 1099’s in connection with their employment at BLBG. In addition, the staff attorneys at BLBG have access to a benefits program offered through the Case 1:08-cv-09522-SHS Document 171 Filed 07/15/13 Page 1 of 2
Transcript of UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF...
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
IN RE CITIGROUP INC. BOND LITIGATION
Master File No. 08 Civ. 9522 (SHS)
ECF Case
SUPPLEMENTAL DECLARATION OF STEVEN B. SINGER IN FURTHER SUPPORT OF (1) BOND PLAINTIFFS’ MOTION FOR
FINAL APPROVAL OF CLASS ACTION SETTLEMENT AND PLAN OF ALLOCATION; AND (2) BOND COUNSEL’S MOTION FOR AN AWARD OF ATTORNEYS’ FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
STEVEN B. SINGER declares as follows:
1. I am a partner in the law firm of Bernstein Litowitz Berger & Grossmann LLP
(“BLBG”), the Court-appointed Bond Counsel. I submit this declaration in further support of
Bond Plaintiffs’ motion for final approval of the Settlement and Plan of Allocation, and Bond
Counsel’s application for an award of attorneys’ fees in connection with services rendered in this
Action, as well as for reimbursement of expenses incurred in connection with this Action.
2. I have reviewed the fee objection filed by Vincent Verdiramo and John J. Pentz
on behalf of Lexie L. Hopson & Michelle B. Hopson, JT WROS on or about June 26, 2013 (the
“Hopson Objection”).
3. The Hopson Objection makes various statements and assumptions regarding the
manner in which Bond Counsel employs staff attorneys that are incorrect. For example, all staff
attorneys working on this matter for my firm were W-2 employees of BLBG, meaning that the
firm paid FICA and Medicare taxes on their behalf, along with state and federal unemployment
taxes. The staff attorneys were not issued 1099’s in connection with their employment at BLBG.
In addition, the staff attorneys at BLBG have access to a benefits program offered through the
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firm, which provides for worker’s compensation, health insurance, and a 401(k) program. The
staff attorneys employed by BLBG are also eligible to receive year-end performance bonuses.
4. In addition, the staff attorneys working on this matter did so out of our main
office at 1285 Avenue of the Americas, New York, NY 10019. Indeed, these staff attorneys
work just down the hall from me on the 36th floor. All of the staff attorneys are fully supervised
by on-site attorneys and have full access to secretarial and paralegal support, continuing legal
education programs offered by my firm, and participate in firm events. BLBG also assigns firm
email addresses to all staff attorneys it employs.
5. Attached hereto are true and correct copies of the following documents:
Exhibit 1 Affidavit of Jason Zuena Regarding (A) Mailing of the Notice and Proof of Claim Form and (B) Report on Requests for Exclusion Received
Exhibit 2 Supplemental Declaration of David Kessler in Further Support of Bond Counsel’s Motion for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses filed on Behalf of Kessler Topaz Meltzer & Check, LLP
Exhibit 3 2009 Bankruptcy Billing Rates Report: Top Firms Ranked by Medium Partner Hourly Rate, THE AMERICAN LAWYER (Jan. 26, 2010)
I declare, under penalty of perjury, that the foregoing facts are true and correct. Executed
on July 15, 2013.
/s/ Steve B. Singer STEVEN B. SINGER
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Exhibit 1
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EXHIBIT A
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EXHIBIT A
1. Mariane P. Arnold andCharles M. ArnoldCamp Hill, PA
10. Hoag Hospital FoundationNewport Beach, CA
2. M. Joan Bienz andM. Joan Bienz IRAAustell, GA
11. Hoag Memorial HospitalPresbyterian
Newport Beach, CA
3. Marilyn Carley andMarilyn Carley IRAFayetteville, GA
12. Dan JohnsonMillington, TN
4. Barbara L. DellingerSolon, OH
13. Norman L. Juliot Family Trust,U/A DTD 11-15-1993 and
Norman L. Juliot andBonnie L. Juliot, individually and astrustees of the trustBrooklyn Park, MN
5. Francis J. Detchemendy andBebe J. DetchemendyCornelius, NC
14. David C. Kave andDavid C. Kave IRAYankton, SD
6. Halina ElronTel Aviv, Israel
15. Adrienne Joan KleindienstMoorestown, NJ
7. Charles GruverHomerville, GA
16. Steven M. Luurs andSteven M. Luurs IRAN. Muskegon, MI
8. Lillian K. HaleDayton, NV
17. Doris L. McCunn (deceased)by Thomas H. McCunn, Jr., ExecutorNew Kensington, PA
9. Dolores I. HeikkilaJackson, MI
18. Edith NaiserHouston, TX
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19. New Hope Mennonite ChurchBelton, MO
27. Judith R. VerdoornLady Lake, FL
20. Nykredit Realkredit A/SCopenhagen, Denmark
28. Donald VivesAuburn, AL
21. Commonwealth ofPennsylvania – PublicSchool Employees’Retirement System
Harrisburg, PA
29. Lionel Walters andLionel Walters IRAGainesville, VA
22. Pennsylvania MunicipalRetirement Board
Harrisburg, PA
30. Judy Y. Williams andJudy Y. Williams IRAHapeville, GA
23. Laverne Z. RowlandElk Grove, CA
31. U/W Arthur Yatkin Prop TrustFBO Shirley Yatkin et al.(with assets held in accountidentified in request for exclusion)by W. Wechsler and J. Ratner,Trustees
Avon, CT
24. John T. Schneider andRose O. SchneiderToms River, NJ
25. Donald L. SnowdenCumming, GA
26. State of New Jersey,Department of Treasury,Division of Investment(“DOI”) and the DOI Fundsit manages
Trenton, NJ
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Exhibit 2
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Exhibit 3
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Page 1
1 of 1 DOCUMENT
Copyright 2010 ALM Media Properties, LLC All Rights Reserved
Further duplication without permission is prohibited
The American Lawyer (Online)
January 26, 2010 Tuesday
LENGTH: 400 words
HEADLINE: Top Firms Ranked by Medium Partner Hourly Rate
BYLINE: Special to the american lawyer magazine
BODY:
Order the 2009 Bankruptcy Billing Rates Report
Firm Median Part-ner Rate*
Partner Rate Range
Number of Partners in the Filings
Median As-sociate Rate
Associate Rate Range
Number of Associates in the Filings
Notable Fil-ings
Simpson Thacher
$980 $785 ; $1,000
30 $530 $280 ; $690 85 Lehman Brothers, Washington Mutual, Inc.
ClearyGottlieb
$960 $725 ; $980 47 $495 $235 ; $910 132 Nortel Net-works, Apex Silver Mines Limited
Shearman & Sterling
$950 $850 ; $1,065
12 $525 $345 ; $675 28 Worldspace, Inc., Wash-ington Mutual
Davis Polk $948 $730 ; $985 14 $530 $440 ; $695 66 BearingPoint, Star Tribune Holdings Corporation
Skadden $945 $743 ; $1,050
38 $540 $356 ; $680 96 BearingPoint, Mrs. Fields Original Cookies, Inc.
Paul, Weiss $925 $800 ; $1,025
24 $520 $395 ; $660 41 Buffets Holdings, Inc., Tronox Incorporated
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Page 2 Top Firms Ranked by Medium Partner Hourly Rate The American Lawyer (Online) January 26, 2010 Tuesday
Cadwalader $900 $700 ;
$1,050 29 $480 $335 ; $620 114 Lyondell
Chemical Company
Milbank, Tweed
$900 $700 ; $995 55 $550 $420 ; $710 171 Lehman Brothers
Bingham McCutchen
$880 $575 ; $995 31 $440 $300 ; $665 45 BearingPoint, Lehman Brothers
Quinn Emanuel
$860 $660 ; $970 24 $420 $370 ; $760 33 Lehman Brothers, Washington Mutual, Inc.
Willkie Farr & Gallagher
$855 $690 ; $995 26 $520 $290 ; $685 72 Journal Reg-ister Co.
Weil, Gotshal $843 $650 ; $980 142 $465 $355 ; $835 487 Lehman Brothers, BearingPoint
Gibson, Dunn $840 $635 ; $995 29 $495 $345 ; $710 38 Building Ma-terials Hold-ing Corp, Special De-vices, Inc.
Fried, Frank $835 $735 ; $895 18 $470 $360 ; $600 34 Aleris Inter-national Inc, Cooper-Standard Holdings Inc.
Latham & Watkins
$830 $600 ; $1,025
57 $490 $350 ; $705 76 Eddie Bauer Holdings, Spansion, Inc.
Paul, Has-tings
$825 $695 ; $950 39 $505 $345 ; $655 54 Spansion, Inc.
White & Case $825 $700 ; $1,050
21 $598 $365 ; $685 46 WCI Com-munities Inc.
Dechert $825 $690 ; $965 13 $490 $355 ; $665 29 AGT Crunch Acquisition LLC, Arclin US Holdings
METHODOLOGY: The Bankruptcy Billing Rates project contains over 13,000 bankruptcy entries for the period August 2008 through August 2009, encompassing the Southern District of NY and Delaware courts. The rates are merely a snap-shot of what lawyers were charging in 2008 and 2009, and were culled exclusively from court documents submitted to the nation's two busiest bankruptcy courts - the Southern District of NY and Delaware - by firms seeking compensation for le-gal work done in Chapter 11 cases filed between Aug. 1, 2008, and Aug. 31, 2009. * Median rates exclude discounts on lawyers travel time. Source: ALM Legal Intelligence
LOAD-DATE: September 19, 2011
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