City of Fremont v. Citigroup Global Markets, Inc. et al

Filing 9

STIPULATION AND ORDER STAYING CASE PENDING DETERMINATION BY THE JUDICIAL PANEL ON MDL TO TRANSFER CASE PURSUANT TO 28 USC 1407 AND EXTENDING TIME TO ANSWER OR OTHERWISE RESPOND TO THE COMPLAINT. Signed by Judge Joseph C. Spero on 3/9/9. (klh, COURT STAFF) (Filed on 3/10/2009)

Case 3:09-cv-00926-JCS

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Filed 03/09/2009

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JAMES G. KREISSMAN (Bar No. 206740) [e-mail] m SIMPSON THACHER & BARTLETT LLP 2550 Hanover Street Palo Alto, California 94304 Telephone: [phone] Facsimile: [phone] Attorneys for Defendants Richard S. Fuld, Jr., Christopher M. O'Meara, Michael L. Ainslie, John F. Akers, Roger S. Berlind, Thomas H. Cruikshank, Marsha Johnson Evans, Sir Christopher Gent, Roland A. Hernandez, Henry Kaufman, and John D. Macomber

UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION

CITY OF FREMONT, Plaint iff,

Case No. C 09-0926 JCS

STIPULATION AND [PROPOSED] ORDER STAYING CASE PENDING v. DETERMINATION BY THE JUDICIAL PANEL ON CITIGROUP GLOBAL MARKETS, INC., BANC MULTIDISTRICT LITIGATION TO OF AMERICA SECURITIES, LLC, BNY TRANSFER CASE PURSUANT TO 28 CAPITAL MARKETS, INC., ERNST & YOUNG, U.S.C. § 1407 AND EXTENDING LLP, RICHARD S. FULD, JR., CHRISTOPHER M. TIME TO ANSWER OR O'MEARA, ERIN M. CALLAN, MICHAEL L. OTHERWISE RESPOND TO THE AINSLIE, JOHN F. AKERS, ROGER S. BERLIND, COMPLAINT THOMAS H. CRUIKSHANK, MARSHA JOHNSON EVANS, SIR CHRISTOPHER GENT, ROLAND A. HERNANDEZ, HENRY KAUFMAN, JOHN D. MACOMBER, and DOES 1 through 20, Defendants. WHEREAS on or about February 24, 2009, Plaintiff City of Fremont ("Plaintiff") filed the Complaint in this case in the Superior Court of the State of California, County of Alameda; -1Stipulation and [Proposed] Order Staying Case Pending Transfer Determination by MDL Panel and Extending Time to Respond to Complaint ­ Case No. C 09-0926 JCS

Case 3:09-cv-00926-JCS

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WHEREAS on March 3, 2009, Defendants Richard S. Fuld, Jr., Christopher M. O'Meara, Michael L. Ainslie, John F. Akers, Roger S. Berlind, Thomas H. Cruikshank, Marsha Johnson Evans, Sir Christopher Gent, Roland A. Hernandez, Henry Kaufman, and John D. Macomber timely filed a Notice of Removal in this Court; Defendant Ernst & Young LLP filed a joinder to the Notice of Removal on March 6, 2009; and Defendants Citigroup Global Markets, Inc., Banc of America Securities, LLC and BNY Mellon Capital Markets LLC filed a joinder to the Notice of Removal on March 6, 2009; WHEREAS cases sharing common questions of fact with this case have previously been transferred from this District by the Judicial Panel on Multidistrict Litigation (the "MDL Panel") to the Honorable Lewis A. Kaplan of the United States District Court for the Southern District of New York pursuant to 28 U.S.C. § 1407; WHEREAS on March 5, 2009, certain Defendants filed a "tag-along" notice with the MDL Panel to inform the MDL Panel that this action is related to other actions previously transferred by the MDL Panel to the Southern District of New York; WHEREAS previously removed related cases, Zenith Insurance Co. v. Fuld, et al., Case No. C 08-5352-SC, San Mateo County Investment Pool v. Fuld, et al., Case No. C 085353-SC, Lou Solton, Monterey County Treasurer, on behalf of the Monterey County Investment Pool, v. Fuld, et al., Case No. C 08-5167 SC, and City o f South San Francisco v. Citigroup Global Markets Inc., et al., Case No. C 09-0501 SC, were stayed by the Honorable Samuel Cont i pending transfer of the actions by the MDL Panel to the Southern District of New York; WHEREAS Plaintiff does not intend to oppose the MDL Panel's transfer of this action to the Southern District of New York; WHEREAS Plaintiff intends to file a motion to remand in this action following transfer of the action to the Southern District of New York, or earlier if permitted by that Court; NOW, THEREFORE, pursuant to Civ. L.R. 6-1(a), the undersigned parties hereby stipulate that: This case shall be stayed pending issuance of a transfer order by the MDL Panel; -2Stipulation and [Proposed] Order Staying Case Pending Transfer Determination by MDL Panel and Extending Time to Respond to Complaint ­ Case No. C 09-0926 JCS

Case 3:09-cv-00926-JCS

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Plaint iff's time within which to file a motion to remand shall be extended until such time as ordered by Judge Kaplan in the Southern District of New York following transfer of this action; and Defendants' time within which to answer or otherwise respond to the Complaint is extended to 30 days from the issuance of an order deciding Plaintiff's remand motion or such time as ordered by Judge Kaplan in the Southern District of New York following transfer of this action. Dated: March 9, 2009

/s/ James G. Kreissman JAMES G. KREISSMAN SIMPSON THACHER & BARTLETT LLP Attorneys for Defendants RICHARD S. FULD, JR., CHRISTOPHER M. O'MEARA, MICHAEL L. AINSLIE, JOHN F. AKERS, ROGER S. BERLIND, THOMAS H. CRUIKSHANK, MARSHA JOHNSON EVANS, SIR CHRISTOPHER GENT, ROLAND A. HERNANDEZ, HENRY KAUFMAN, and JOHN D. MACOMBER /s/ George S. Trevor GEORGE S. TREVOR PEARSON, SIMON, WARSHAW & PENNY, LLP Attorneys for Plaintiff CITY OF FREMONT /s/ Peter R. Boutin PETER R. BOUTIN CHRISTOPHER A. STECHER KEESAL, YOUNG & LOGAN Attorneys for Defendants CITIGROUP GLOBAL MARKETS, INC., BANC OF AMERICA SECURITIES, LLC, and BNY MELLON CAPITAL MARKETS, LLC

-3Stipulation and [Proposed] Order Staying Case Pending Transfer Determination by MDL Panel and Extending Time to Respond to Complaint ­ Case No. C 09-0926 JCS

Case 3:09-cv-00926-JCS

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1 2 3 4 5 6 7 8 9 10 11 /s/ James K. Lynch JAMES K. LYNCH LATHAM & WATKINS LLP Attorneys for Defendant ERNST & YOUNG LLP /s/ Joshua Judah Pollack JOSHUA JUDAH POLLACK PROSKAUER ROSE LLP Attorneys for Defendant ERIN CALLAN ATTESTATION PURSUANT TO GENERAL ORDER 45, § X

I, James G. Kreissman, attest pursuant to General Order 45, § X, that concurrence in the filing of this Stipulation has been obtained from each of the other signatories above. 12 13 14 15 16 March 9, 2009 17 DATED: ___________________ 18 19 20 21 22 23 24 25 26 27 28 -4Stipulation and [Proposed] Order Staying Case Pending Transfer Determination by MDL Panel and Extending Time to Respond to Complaint ­ Case No. C 09-0926 JCS

/s/ James G. Kreissman JAMES G. KREISSMAN

PURSUANT TO STIPULATION, IT IS SO ORDERED.:
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________________________ Honorable Joseph C. Spero United States Magistrate Judge
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