Northstar Financial Advisors Inc. v. Schwab Investments et al

Filing 83

ORDER dismissing Schwab and Schwab Total Bond Market re 76 . Signed by Judge Illston on 3/4/09. (ts, COURT STAFF) (Filed on 3/6/2009)

Case 3:08-cv-04119-SI

Document 76

Filed 03/04/2009

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Joseph J. Tabacco, Jr. (75484) [e-mail] Christopher Heffelfinger (118058) [e-mail] James C. Magid (233043) [e-mail] BERMAN DEVALERIO 425 California Street, Suite 2100 San Francisco, CA 94104 Telephone: [phone] Facsimile: [phone] Local Counsel for Plaintiff Northstar Financial Advisors, Inc. [Additional Counsel on Signature Page] UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA

NORTHSTAR FINANCIAL ADVISORS, INC., on Behalf of Itself and all Others Similarly Situated, Plaintiff, v. SCHWAB INVESTMENTS, CHARLES SCHWAB & CO., INC., CHARLES SCHWAB INVESTMENT MANAGEMENT, INC., and SCHWAB TOTAL BOND MARKET FUND, Defendants.

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Case No. C-08-4119 SI CLASS ACTION STIPULATION AND [PROPOSED] ORDER DISMISSING WITHOUT PREJUDICE CHARLES SCHWAB & CO., INC. AND SCHWAB TOTAL BOND MARKET FUND NUNC PRO TUNC

[C-08-4119 SI] STIPULATION AND [PROPOSED] ORDER DISMISSING WITHOUT PREJUDICE CHARLES SCHWAB & CO., INC. AND SCHWAB TOTAL BOND MARKET FUND NUNC PRO TUNC

Case 3:08-cv-04119-SI

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I nvestments, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc., and Schwab Total Bond Market Fund ( ), by and through their counsel, hereby jointly

submit a stipulated request for an order dismissing, without prejudice, Charles Schwab & Co., Inc. and the Schwab Total Bond Market Fund. RECITALS WHEREAS, the above-captioned action Northstar Financial Advisors v. Schwab Investments, et al., No. C-08-4119 SI was filed on August 28, 2008; WHEREAS, the initial complaint named as defendants Schwab Investments, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc., and Schwab Total Bond Market Fund; WHEREAS, on February 19, 2009, this Court granted in part and denied in part the to file an amended complaint by no later than March 2, 2009 ;

WHEREAS, on March 2, 2009, Northstar filed its First Amended Complaint; WHEREAS, the First Amended Complaint no longer asserts claims against Charles Schwab & Co., Inc., or the Schwab Total Bond Market Fund; WHEREAS, in making their assessments as to which defendants should remain in the case Northstar did not have adequate time to dismiss without prejudice Charles Schwab & Co., Inc. and Schwab Total Bond Fund prior to filing its Amended Complaint on March 2, 2009; WHEREAS, in order to avoid confusion as to which defendants are still in the case, Northstar removed Charles Schwab & Co., Inc. and Schwab Total Bond Fund as defendants from both the caption and the body of the Amended Complaint; and

[C-08-4119 SI] STIPULATION AND [PROPOSED] ORDER DISMISSING WITHOUT PREJUDICE CHARLES SCHWAB & CO., INC. AND SCHWAB TOTAL BOND MARKET FUND NUNC PRO TUNC

Case 3:08-cv-04119-SI

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WHEREAS, Northstar now seeks an order nunc pro tunc approving the dismissal without prejudice of both Charles Schwab & Co., Inc. and Schwab Total Bond Fund, effective as of March 2, 2009; WHEREAS, no consideration was proffered by Defendants nor received by Northstar for the dismissal of Charles Schwab & Co., Inc. and Schwab Total Bond Fund; and WHEREAS, Northstar has not yet filed a motion for class certification; STIPULATION IT IS HEREBY STIPULATED for Northstar and Defendants: 1. The previously named defendants, Charles Schwab & Co., Inc. and the Schwab Total Bond Market Fund shall be dismissed from the instant action, without prejudice. 2. The dismissal without prejudice of Charles Schwab & Co., Inc. and the Schwab Total Bond Market Fund shall be applied nunc pro tunc to precede the filing of the First Amended Complaint on March 2, 2009. 3. Subject to Court approval, the notice provisions of Federal Rule of Procedure 23(e) need not and shall not apply to this dismissal. 4. The dismissal is without costs or fees to any party. WOLF POPPER LLP By: /s Robert C. Finkel ROBERT C. FINKEL (admitted pro hac vice) 845 Third Avenue New York, NY 10022 Telephone: [phone] Facsimile: [phone] approval, by and between counsel

Dated: March 4, 2009

[C-08-4119 SI] STIPULATION AND [PROPOSED] ORDER DISMISSING WITHOUT PREJUDICE CHARLES SCHWAB & CO., INC. AND SCHWAB TOTAL BOND MARKET FUND NUNC PRO TUNC

Case 3:08-cv-04119-SI

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Marc J. Gross Bryan Plocker GREENBAUM ROWE SMITH & DAVIS LLP 75 Livingston Street, Suite 301 Roseland, NJ 07068 Telephone: [phone] Facsimile: [phone] Attorneys for Plaintiff Northstar Financial Advisors, Inc. Joseph J. Tabacco, Jr. Christopher T. Heffelfinger James C. Magid BERMAN DEVALERIO 425 California Street, Suite 2100 San Francisco, CA 94104 Telephone: [phone] Facsimile: [phone] Local Counsel for Plaintiff Northstar Financial Advisors, Inc. MORRISON & FOERSTER LLP By:

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/s______________________ DOROTHY L. FERNANDEZ

425 Market Street San Francisco, California 94105-2482 Telephone: [phone] Facsimile: 415.268.7522 Email: [e-mail] Darryl P. Rains K.C. Allan Waldron 755 Page Mill Road Palo Alto, California 94304-1018 Telephone: [phone] Facsimile: 650.494.0792 Email:[e-mail]; [e-mail] Attorneys for Defendants Schwab Investments, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc., and Schwab Total Bond Market Fund

[C-08-4119 SI] STIPULATION AND [PROPOSED] ORDER DISMISSING WITHOUT PREJUDICE CHARLES SCHWAB & CO., INC. AND SCHWAB TOTAL BOND MARKET FUND NUNC PRO TUNC

Case 3:08-cv-04119-SI

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PURSUANT TO STIPULATION, IT IS SO ORDERED.

HONORABLE SUSAN ILLSTON UNITED STATES DISTRICT JUDGE

[C-08-4119 SI] STIPULATION AND [PROPOSED] ORDER DISMISSING WITHOUT PREJUDICE CHARLES SCHWAB & CO., INC. AND SCHWAB TOTAL BOND MARKET FUND NUNC PRO TUNC

Case 3:08-cv-04119-SI

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I, Christopher T. Heffelfinger, am the ECF user whose ID and password are being used to file this Stipulation and [Proposed] Order Dismissing Without Prejudice Charles Schwab & Co., Inc. and Schwab Total Bond Market Fund Nunc Pro Tunc. In compliance with General Order 45, X.B., I hereby attest that Robert C. Finkel, co-counsel for Plaintiff Northstar, and Dorothy L Fernandez, counsel for defendants, have concurred in this filing. s/ Christopher T. Heffelfinger

[C-08-4119 SI] STIPULATION AND [PROPOSED] ORDER DISMISSING WITHOUT PREJUDICE CHARLES SCHWAB & CO., INC. AND SCHWAB TOTAL BOND MARKET FUND NUNC PRO TUNC