In re Charles Schwab Corp. Securities Litigation

Filing 925

ORDER REGARDING SUBMISSIONS ON THE VALIDITY OF DEFENDANTS NOTICE OF TERMINATION. Signed by Judge Alsup on November 10, 2010. (whalc2, COURT STAFF) (Filed on 11/10/2010)

In re Charles Schwab Corp. Securities Litigation

Doc. 925

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 SUBMISSIONS ON THE VALIDITY OF DEFENDANTS' NOTICE OF TERMINATION

Both sides' submissions should discuss whether discovery should be allowed and/or an evidentiary hearing should be held to consider: (1) verbal and written communications between the two sides during the negotiations on the scope of the release and the meaning of "17200 claim," (2) verbal and written communications between the two sides during the negotiations on whether a new opportunity for opt-out should be given, (3) internal discussions and communications within the two law firms on these subjects (to see if anyone was truly misled or was aware of the issue now raised and remained silent). In this connection, both law firms must immediately interdict, if they have not already, any deletion of emails, instant messages, text messages, and memoranda on these subjects or otherwise relevant to the intent of the agreement. All relevant evidence must be preserved. No decision has been made that such an evidentiary hearing is warranted but the input of both sides is requested on the question. IT IS SO ORDERED. Dated: November 10, 2010.

WILLIAM ALSUP UNITED STATES DISTRICT JUDGE
Dockets.Justia.com