Gelb v. Fed. Reserve Bank of N.Y., No. 12-04880, 2014 WL 4402205 (S.D.N.Y. Sept. 5, 2014) (Carter, Jr., J.)

Gelb v. Fed. Reserve Bank of N.Y., No. 12-04880, 2014 WL 4402205 (S.D.N.Y. Sept. 5, 2014) (Carter, Jr., J.)

Re: Request for records concerning certain registered and book-entry securities

Disposition: Denying defendant's motion for summary judgment and plaintiff's cross-motion for summary judgment

• Litigation Considerations, Adequacy of Search:  The court holds that "[d]efendant has failed to meet its burden because it submitted an inadequately detailed declaration" which "is conclusory and therefore deficient."  The court explains that the declarant at issue "does not describe the system within which he was working, how he conducted the search, the scope of his search, an estimate of the amount of time this search took, or any other detail from which the Court might conclude that his search was, in fact, adequate."
   
• Litigation Considerations, Discovery:  "The Court has considered Plaintiff's cross-motion for discovery, but does not find additional discovery necessary at this time."