Opinion
00 Civ. 0648 (LAK).
December 13, 2000.
ORDER
By order dated November 30, 2000, the Court directed the parties to show cause why it should not appoint one or more experts for purposes there defined. The Court has received responses from Sotheby's, Christie's and plaintiffs' lead counsel. Having considering those responses, it is hereby ORDERED, as follows:
1. The Court hereby appoints Kenneth G. Elzinga, Professor of Economics, University of Virginia, and Denise Martin, National Economic Research Associates, Inc. (the "Court Experts"), as experts to advise the Court concerning:
(a) Defendants' plan for fair-market valuation of discount certificates, and
(b) The competitive consequences of the issuance of such certificates.
The Court Experts, on or before January 16, 2001, shall file with the Court a report or reports, as they see fit, addressing the questions raised by the proposal to include discount certificates as part of the settlement, including specifically and without limitation the questions of the fair market value of said certificates and whether the issuance of such certificates would have undesirable and/or unreasonable anticompetitive effects.
2. Professor Elzinga shall be compensated for his services at the rate of $450 per hour. Dr. Martin shall be compensated at the rate of $375 per hour. Each shall be reimbursed for their reasonable expenses incurred in carrying out their tasks. In addition, they may apply to the Court for approval of the employment of additional personnel on the project should that prove useful or necessary.
3. The fees and expenses of the Court Experts shall be paid 50 percent by Sotheby's and 50 percent by Christie's. The Court Experts shall render their bills to Sotheby's and Christie's at the conclusion of the assignment. Should either or both of those defendants object to any such bill, the Court will resolve the objection.
4. The parties shall provide to the Court Experts such information as they reasonably may request, after first conferring with one another to avoid the making of duplicative requests, subject to any appropriate privilege objections. The Court will resolve any disputes over the production of information to the Court Experts.
5. The Court Experts shall comply with the Confidentiality Order previously entered in this case insofar as it applies to any information furnished to them by the parties that may have been designated as Confidential.
6. Professor Elzinga and National Economic Research Associates, Inc. each has advised the Court that he or it is currently advising one or more of the law firms representing parties in this case in connection with unrelated matters. While the Court preliminarily has determined that this presents no obstacle to their serving as Court Experts, any party may make any objection it may have by motion filed on or before December 20, 2000.