Labins v. The Charles Schwab Corporation et al

Filing 877

ORDER REGARDING LETTER FROM JAMES EDWARDS O/B/O SCIENTIFIC SPINAL PENSION PLAN. Signed by Judge Alsup on September 27, 2010. (whalc2, COURT STAFF) (Filed on 9/27/2010)

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In re Charles Schwab Corp. Securities Litigation Doc. 877 1 2 3 4 5 6 7 8 9 10 IN RE: CHARLES SCHWAB CORPORATION SECURITIES LITIGATION. This Document Relates To All Cases. / No. C 08-01510 WHA IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA United States District Court 11 For the Northern District of California 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 ORDER REGARDING LETTER FROM JAMES EDWARDS O/B/O SCIENTIFIC SPINAL PENSION PLAN The appended letter and e-mail from James Edwards were received on July 7, 2010, and August 4, 2010, respectively. Counsel were copied on the letter but not the e-mail. The letter is phrased as an objection to the federal securities class settlement agreement. It states a request to be excluded from the settlement agreement but not the class. Such a request is not the same as a motion to opt-out of the class, because exclusion from a settlement agreement is governed by the terms of that agreement. Mr. Edwards' e-mail, however, requests exclusion from the class. Both requests are therefore construed as an opt-out motion. Class counsel included a response to Mr. Edward's letter in its memorandum in support of final approval of the federal securities class settlement agreement (Dkt. No. 838 at 23). Neither side received Mr. Edwards' e-mail, however, and defendants have not had an opportunity to comment at all. Counsel are directed to inform the Court whether they oppose the motion, by NOON ON OCTOBER 1, 2010. Additionally, if Mr. Dockets.Justia.com 1 2 3 4 5 6 7 8 9 10 Edwards actually filed a timely exclusion request, counsel shall please inform the Court. Counsel shall serve their briefs on the applicant. IT IS SO ORDERED. Dated: September 27, 2010. WILLIAM ALSUP UNITED STATES DISTRICT JUDGE United States District Court 11 For the Northern District of California 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2

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