| December 20, 2019 |  Filing 190 CLERK'S JUDGMENT re: 189 Memorandum & Opinion. in favor of Nasdaq, Inc. against ETF Managers Group, LLC, Exchange Traded Managers Group, LLC in the amount of $ 80,581,134.85. It is hereby ORDERED, ADJUDGED AND DECREED: That for the reasons stated in the Court's Opinion and Order dated December 20, 2019, following a 10-day bench trial, the Court holds that Nasdaq has established, in multiple respects, its claims for breach of contract against ETFMG; Nasdaq, however, has no t established its claims for breach of duty of good faith and fair dealing, conversion, unfair competition, unjust enrichment, or quantum meruit; the Court also hold that ETFMG has failed to establish any of its counterclaims; the Court further finds that Nasdaq is entitled to an award of the following in compensatory damages: (i) $10,908,711 in retrospective damages, with prejudgment interest of 9% thereon to be measured as of November 1, 2017, in the amount of $2,095,369.12; (ii ) $67 million in prospective damages; and (iii) $494,461.36 in damages under the Wholesaling Agreement, with prejudgment interest of 5% over the Federal Reserve rate of 1.5% thereon to be measured as of May 16, 2017, in the amount of $82,593.37 for a total sum of $80,581,134.85; the Court declines to award punitive damages or equitable relief. (Signed by Clerk of Court Ruby Krajick on 12/20/2019) (Attachments: # 1 Notice of Right to Appeal)(dt) |
| December 10, 2019 | Filing 186 ORDER: The Court, in preparing its decision, is interested in identifying each specific expense item which ETFMG's practice of "netting" caused Nasdaq to pay but which was outside the scope of Nasdaq's obligations under the Wholes aling Agreement. The Court accordingly directs the following: 1. By Friday, December 13, 2019, at noon, Nasdaq is to submit a letter identifying each specific such expense item (including by dollar amount) and identifying all admitted evidence, docum entary and testimonial, bearing on why this expense item was (a) incurred by Nasdaq as a result of ETFMG's practice of netting, (b) outside the scope of Nasdaq's obligations under the Wholesaling Agreement, and (c) not independently agreed to by Nasdaq or ISE. Nasdaq may briefly explain why the cited evidence demonstrates these propositions, and as further set forth in this order. (Signed by Judge Paul A. Engelmayer on 12/10/2019) (jwh) |
| December 3, 2019 | Filing 183 ORDER: Upon review of the record, the Court is unable to find profit and loss statements for SILJ between August 2016 and July 2017. The Court requests the parties jointly to direct the Court to such documents, if they exist in the record. If they do not, the Court invites, but does not require, the parties to stipulate to the profit or loss for SILJ for each month during that period by Thursday, December 4, 2019. The Court does not invite argument on this point. (Signed by Judge Paul A. Engelmayer on 12/3/2019) (jwh) |
