Declaration Of Helen J. Hodges In Support Of Lead Counsel's ...

ordered the information from “personnel files shall be deemed confidential and shall not be disclosed
by persons given access to the documents in the document depository.” 3/27/03 Order at 3.
124. On July 9, 2003, the Court denied the Outside Directors’ motion for protective order
(Docket No. 1548). The Court said it had “addressed the issue of protective orders on at least two
previous occasions.” Id at 6. The Court held in balancing the privacy interests of Enron’s
executives with the plaintiffs’ necessity, plaintiffs’ demonstrated need “outweighs the privacy
interests,” and held the privacy “procedures already in place” will “protect the use of personal
information.” Id. The Court ordered the requested documents be produced to plaintiffs, and
admonished the parties to refrain from placing social security numbers, account numbers and similar
personal information in public pleadings.
4. Lead Plaintiff Defeats Efforts to Establish a Blanket Protective
Order
125. On behalf of all Enron Class members and the investing public, on September 24,
2002, Lead Plaintiff filed a motion to preclude the filing or production of documents subject to a
protective order (Docket No. 1039). Lead Plaintiff’s motion was made in response to Enron’s filing
a motion for protective order, seeking to conceal from the public key documents and evidence
concerning the securities fraud. Enron was joined by a number of defendants, including the financial
institutions.
126. Lead Counsel vigorously opposed Enron’s motion. Lead Counsel argued on behalf of
all Enron investors, “Plaintiffs seek this relief in the interest of providing full access to these
proceedings for absent Class members, the legal and financial communities, regulatory bodies and
the public at large.” Plaintiffs’ Memorandum of Law in Support of Motion to Preclude the Filing or
Production of Documents Subject to a Protective Order at 1.
127. Lead Plaintiff recognized the Enron litigation had far-reaching implications for
investors, pension funds, business, academics, policy makers and the government, and thus because
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