SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK PHOENIX LIGHT SF LIMITED, et al., Plaintiffs, vs. J.P. MORGAN SECURITIES LLC, et al., Defendants. X X Index No. 651755/2012 STIPULATION AND [PROPOSED] ORDER ADMINISTRATIVELY CLOSING ACTION
WHEREAS, this action (the "Initial Action") was commenced by the filing of a Summons with Notice on May 22, 2012; WHEREAS, on December 14, 2012, defendants filed a joint motion to dismiss the complaint in the Initial Action; WHEREAS, following full briefing of defendants' motion, the Court heard oral argument on defendants' motion on April 24, 2013; WHEREAS, at the April 24, 2013 hearing, the Court orally granted defendants' motion without prejudice, and further directed plaintiffs to re-plead their claims as separate actions against each of the separate defendant groups named in the Initial Action, and to obtain new index numbers for each of the separate actions; WHEREAS, pursuant to the Court's directives, plaintiffs have re-pled the claims in the Initial Action in separate complaints, which were filed under separate index numbers, see Phoenix Light SF Limited, et al. v. Credit Suisse AG, et al., Index No. 653123/2013, Phoenix Light SF Limited, et al. v. The Goldman Sachs Group, Inc. et al., Index No. 652356/2013, Phoenix Light SF Limited, et al. v. JPMorgan Chase & Co., et al., Index No. 652921/2013, Phoenix Light SF Limited, et al. v. Morgan Stanley, et al., Index No. 652986/2013, Phoenix Light SF Limited, et al. v. The Royal Bank of Scotland Group Plc, et al., Index No. 653060/2013, Phoenix Light SF Limited, et al. v. Merrill Lynch & Co., Inc., et al., Index No. 653235/2013 (the "New Actions"), and all proceedings with regard to the claims asserted in the Initial Action are now pending under the foregoing index numbers assigned to the New Actions; WHEREAS, despite the foregoing, the Clerk's office continues to carry the Initial Action as an open action.
IT IS HEREBY STIPULATED AND AGREED, by and between the undersigned, the attorneys of record for all the parties to the Initial Action, subject to the approval of the Court, as follows: The Clerk of the Court is directed to administratively close the Initial Action on the records of the Court; and Such action will have no impact on the timeliness of plaintiffs' claims in the New Actions and shall not be deemed to be a "voluntary discontinuance" or a "dismissal of the complaint for neglect to prosecute the action," for purposes of C.P.L.R. 205. ROBBINS GELLER RUDMAN & DOWD LLP ARTHUR C. LEAHY PATRICK W. DANIELS SCOTT H. SAHAM LUCAS F. OLTS NATHAN R. LINDELL CAROLINE M. ROBERT s/ NATHAN R. LINDELL NATHAN R. LINDELL 655 West Broadway, Suite 1900 San Diego, CA 92101-3301 Telephone: 619/231-1058 619/231-7423 (fax) ROBBINS GELLER RUDMAN & DOWD LLP SAMUEL H. RUDMAN WILLIAM J. GEDDISH 58 South Service Road, Suite 200 Melville, NY 11747 Telephone: 631/367-7100 631/367-1173 (fax) Attorneys for Plaintiffs
SIDLEY AUSTIN LLP ANDREW W. STERN TOM A. PASKOWITZ J. KARIM AOUN s/ TOM A. PASKOWITZ TOM A. PASKOWITZ 787 Seventh Avenue New York, NY 10019 Telephone: 212/839-5300 212/839-5599 (fax) Attorneys for Defendants J.P. Morgan Securities LLC, EMC Mortgage LLC, J.P. Morgan Mortgage Acquisition Corp., Chase Home Finance LLC, Structured Asset Mortgage Investments II Inc., Chase Mortgage Finance Corporation, J.P, Morgan Acceptance Corporation I, Bear Stearns Asset Backed Securities I LLC, JP Morgan Chase & Co. and The Bear Stearns Companies LLC CRAVATH, SWAINE & MOORE LLP RICHARD W. CLARY JULIE A. NORTH RICHARD J. STARK MICHAEL T. REYNOLDS LAUREN A. MOSKOWITZ OMID H. NASAB s/ RICHARD J. STARK RICHARD J. STARK Worldwide Plaza 825 Eighth Avenue New York, NY 10019 Telephone: 212/474-1000 212/474-3700 (fax) Attorneys for Defendants Credit Suisse Securities (USA) LLC, DLJ Mortgage Capital, Inc., Credit Suisse First Boston Mortgage Securities Corp., Asset Backed Securities Corp. and Credit Suisse AG
DAVIS POLK & WARDWELL LLP JAMES P. ROUHANDEH DANIEL J. SCHWARTZ JANE M. MORRIL CARISSA M. PILOTTI s/ JAMES P. ROUHANDEH JAMES P. ROUHANDEH 450 Lexington Avenue New York, NY 10017 Telephone: 212/450-4000 212/450-4800 (fax) Attorneys for Defendants Morgan Stanley, Morgan Stanley & Co. LLC, Morgan Stanley Mortgage Capital Holdings LLC, Morgan Stanley ABS Capital I Inc., Morgan Stanley Capital I Inc., Saxon Capital, Inc., Saxon Funding Management LLC and Saxon Asset Securities Company SULLIVAN & CROMWELL LLP RICHARD H. KLAPPER THEODORE EDELMAN TRACY RICHELLE HIGH JESSICA P. STOKES s/ RICHARD H. KLAPPER RICHARD H. KLAPPER 125 Broad Street New York, NY 10004-2498 Telephone: 212/558-4000 212/558-3588 (fax) Attorneys for Defendants The Goldman Sachs Group, Inc., Goldman, Sachs & Co., Goldman Sachs Mortgage Company and GS Mortgage Securities Corporation - 4 -
SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP JAY B. KASNER CHRISTOPHER P. MALLOY SCOTT D. MUSOFF s/ CHRISTOPHER P. MALLOY CHRISTOPHER P. MALLOY 4 Times Square New York, NY 10036 Telephone: 212/735-3000 212/735-2000 (fax) Attorneys for Defendants Merrill Lynch, Pierce, Fenner & Smith Incorporated, Merrill Lynch Mortgage Lending, Inc., First Franklin Financial Corporation, Merrill Lynch Mortgage Investors, Inc. and Merrill Lynch & Co., Inc. GIBSON, DUNN & CRUTCHER LLP ROBERT F. SERIO ARIC H. WU GABRIEL HERRMANN s/ GABRIEL HERRMANN GABRIEL HERRMANN 200 Park Avenue 47th Floor New York, NY 10166-0193 Telephone: 212/351-4000 212/351-4035 (fax) Attorneys for Defendants RBS Securities Inc., RBS Financial Products Inc. (f/k/a Greenwich Capital Financial Products, Inc.), RBS Acceptance Inc., The Royal Bank of Scotland Group Plc and Financial Asset Securities Corp.
* * * O R D E R IT IS SO ORDERED. DATED: THE HONORABLE CHARLES E. RAMOS, J.S.C. - 6 -