State Compensation Insurance Fund v. Metropolitan West Securities LLC et al

Filing 217

ORDER GRANTING 216 STIPULATION STAYING CASE PENDING OUTCOME OF ADR PROCEDURE. Signed by Judge JEFFREY S. WHITE on 4/18/12. (jjoS, COURT STAFF) (Filed on 4/18/2012)

Case3:09-cv-02959-JSW Document216 Filed04/16/12 Page1 of 3

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MUNGER, TOLLES & OLSON LLP
Marc T.G. Dworsky (SB# 157413)
James C. Rutten (SB# 201791)
Eric P. Tuttle (SB# 248440)
Keith R.D. Hamilton (SB# 252115)
355 South Grand Avenue, 35th Floor
Los Angeles, California 90071-1560
[phone]; [phone] (fax)
[e-mail], [e-mail],
[e-mail], [e-mail]

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Attorneys for WELLS FARGO BANK, N.A.
(successor by merger to Defendant WACHOVIA
BANK, N.A.) and Defendant METROPOLITAN
WEST SECURITIES LLC

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UNITED STATES DISTRICT COURT
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NORTHERN DISTRICT OF CALIFORNIA – SAN FRANCISCO DIVISION
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STATE COMPENSATION INSURANCE
FUND,

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Plaintiff,

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CASE NO. CV 09-02959 JSW (EDL)
STIPULATION AND [PROPOSED] ORDER
STAYING CASE PENDING OUTCOME OF
ADR PROCEDURE

vs.
METROPOLITAN WEST SECURITIES
LLC; WACHOVIA BANK, N.A.; DOES
1 through 10, inclusive; and DOES 11
through 20, inclusive,

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Defendants.
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17174976.1

CASE NO. CV 09-2959 JSW (EDL)
STIPULATION AND [PROPOSED] ORDER STAYING CASE

Case3:09-cv-02959-JSW Document216 Filed04/16/12 Page2 of 3

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WHEREAS on March 6, 2012, the parties attended a mediation session before Antonio
Piazza, Esq. of Mediation Negotiations;

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WHEREAS as a result of that mediation session, the parties have determined to resolve
their disputes through a binding alternative dispute resolution (“ADR”) procedure;

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WHEREAS the in-person sessions of the ADR procedure are expected to commence by
June 2012, subject to potential scheduling conflicts that may require different timing;

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WHEREAS the parties’ selection of an ADR procedure, with the assistance of Mr. Piazza,

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contemplates that they will seek to stay further litigation in this Court pending the outcome of the

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ADR procedure, and once the ADR procedure is completed, will promptly file a stipulation of

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dismissal of this lawsuit;

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WHEREAS the parties commit to advise the Court promptly of any developments that
may affect the continued appropriateness of a stay;

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NOW THEREFORE, IT IS HEREBY STIPULATED BY AND AMONG THE PARTIES

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HERETO AND THEIR COUNSEL OF RECORD THAT this lawsuit is stayed in its entirety

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until a stipulation of dismissal is filed or until further order of the Court.

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Date: April 16, 2012

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MUNGER, TOLLES & OLSON LLP
By:

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Attorneys for Defendants WELLS FARGO
BANK, N.A. (successor by merger to
WACHOVIA BANK, N.A.) and
METROPOLITAN WEST SECURITIES LLC

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/s/ James C. Rutten
James C. Rutten

Date: April 16, 2012

BARGER & WOLEN LLP

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The Court HEREBY STRIKES Plaintiff's
motion for summary judgment without
prejudice to re-filing if necessary.

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By:

/s/ Travis R. Wall
Travis R. Wall

Attorneys for Plaintiff STATE
COMPENSATION INSURANCE FUND

PURSUANT TO STIPULATION, IT IS SO ORDERED:
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DATED:

April 18, 2012

__________________________________
The Honorable Jeffrey S. White
United States District Judge

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17174976.1

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CASE NO. CV 09-2959 JSW (EDL)

STIPULATION AND [PROPOSED] ORDER STAYING CASE