Crago v. Charles Schwab & Co., Inc. et al

Filing 147

STIPULATION AND ORDER RE 146 For Extension of Class Certification Schedule AS MODIFIED BY THE COURT. Motion Hearing set for 3/11/2021 at 01:30 PM in San Francisco, Courtroom 03, 17th Floor before Judge Richard Seeborg. Signed by Judge Richard Seeborg on 9/5/19. (cl, COURT STAFF) (Filed on 9/5/2019)

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LIONEL Z. GLANCY (#134180)
[e-mail]
JOSHUA L. CROWELL (#295411)
[e-mail]
GARTH SPENCER (pro hac vice)
[e-mail]
GLANCY PRONGAY & MURRAY LLP
1925 Century Park East, Suite 2100
Los Angeles, California 90067
Telephone: [phone]
Facsimile: [phone]
LAWRENCE P. EAGEL (pro hac vice)
[e-mail]
DAVID J. STONE (#208961)
[e-mail]
MELISSA A. FORTUNATO (#319767)
[e-mail]
BRAGAR EAGEL & SQUIRE, P.C.
885 Third Avenue, Suite 3040
New York, New York 10022
Telephone: [phone]
Facsimile: [phone]
Attorneys for Lead Plaintiffs Robert Wolfson and Frank
Pino and Co-Lead Counsel for the Class

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA
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ROBERT CRAGO, Individually And On Behalf
Of All Others Similarly Situated,

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Plaintiff,

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v.
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CHARLES SCHWAB & CO., INC., and THE
CHARLES SCHWAB CORPORATION,

Case No. 3:16-cv-3938-RS
CLASS ACTION
JOINT STIPULATION AND [PROPOSED]
ORDER FOR EXTENSION OF CLASS
CERTIFICATION SCHEDULE
AS MODIFIED BY THE COURT

Defendants.

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STIPULATION AND [PROPOSED] ORDER
Case No. 3:16-cv-3938-RS

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Pursuant to Local Rule 6-2, Lead Plaintiffs Robert Wolfson and Frank Pino and named

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plaintiff Scott Posson (“Plaintiffs”), and Defendants Charles Schwab & Co., Inc. and The Charles

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Schwab Corporation (“Defendants” or “Schwab” and, together with Plaintiffs, the “Parties”), by and

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through their respective counsel, for good cause, hereby stipulate as follows:

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WHEREAS, on April 15, 2019, the Court entered a Case Management Scheduling Order
setting the case schedule through the class certification hearing (ECF No. 144);
WHEREAS, the Parties have engaged in class certification and merits discovery and are
continuing to meet and confer in good faith regarding outstanding issues;

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WHEREAS, in connection with class certification discovery, Plaintiffs seek from third-party

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UBS Securities, LLC (“UBS”) the production of additional data regarding trade orders that Schwab

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routed to UBS during the Class Period;

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WHEREAS, Plaintiffs were unable to reach an agreement with UBS regarding the

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production of trade data and on March 5, 2019, Plaintiffs filed a Motion to Compel Production in

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the United States District Court for the Southern District of New York (the “Motion to Compel”);

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WHEREAS, oral argument was held on the Motion to Compel on May 29, 2019, during

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which the court instructed the parties to continue to meet and confer regarding the scope of the

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production with the understanding that UBS must begin the process of complying with Plaintiffs’

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subpoena;

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WHEREAS, Plaintiffs have continued to meet and confer with UBS, and UBS has been

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producing trading data on a rolling basis, but production of the necessary trade data is not yet

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complete, and UBS has indicated that it needs additional time to complete its production;

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WHEREAS, Plaintiffs need an extension of the current class certification deadlines to
accommodate the receipt of full trade data from UBS;

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WHEREAS, at Plaintiffs’ request, Defendants have agreed, with the Court’s approval, to

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modify the Case Management Scheduling Order to extend the deadlines through the class

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certification hearing;

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WHEREAS, this is the Parties’ third request for an extension of the deadlines in the Case
Management Scheduling Order;
-1STIPULATION AND [PROPOSED] ORDER
Case No. 3:16-cv-3938-RS

NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED, SUBJECT TO

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APPROVAL BY THIS COURT, as follows:
The deadlines through the class certification hearing shall be as follows:

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Event
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Deadline

Pre-class certification fact depositions

April 24, 2020
May 27, 2020

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Plaintiffs’ expert disclosures and report(s) concerning
class certification (including any backup materials)

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Defendants’ expert disclosures and report(s) concerning
class certification (including any backup materials)

August 12, 2020

Plaintiffs’ rebuttal report(s) concerning class
certification (including any backup materials)

October 1, 2020

Expert depositions concerning class certification

October 16, 2020-October 30,
2020

Plaintiffs’ class certification motion and Daubert
challenges

November 17, 2020

Defendants’ class certification opposition, Daubert
challenges, and Daubert opposition

January 19, 2021

Plaintiffs’ reply brief, opposition to Daubert challenges,
and reply to Daubert challenges of Defendants’
expert(s)

February 5, 2021

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Defendants’ reply to Daubert challenges of Plaintiffs’
experts

February 24, 2021

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Class Certification Hearing

TBD (as soon as is
practicable on a date
convenient to the court)

Date for Parties to Seek to Engage in Private Mediation

July 15, 2020

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IT IS SO STIPULATED.

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-2STIPULATION AND [PROPOSED] ORDER
Case No. 3:16-cv-3938-RS

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Dated: September 3, 2019

GLANCY PRONGAY & MURRAY LLP
By: Joshua L. Crowell
Joshua L. Crowell (#295411)
[e-mail]
Lionel Glancy (#134180)
lglancy @glancylaw.com
Vahe Mesropyan (#307244)
[e-mail]
Garth Spencer (pro hac vice)
[e-mail]
1925 Century Park East, Suite 2100
Los Angeles, California 90067
Telephone: [phone]
Facsimile: [phone]
Attorneys for Lead Plaintiff Frank Pino and CoLead Counsel for the Class
BRAGAR EAGEL & SQUIRE, P.C.
Lawrence P. Eagel (pro hac vice)
[e-mail]
David J. Stone (#208961)
[e-mail]
Melissa A. Fortunato (#319767)
[e-mail]
885 Third Avenue, Suite 3040
New York, New York 10022
Telephone: [phone]
Facsimile: [phone]
Attorneys for Lead Plaintiff Robert Wolfson and
Co-Lead Counsel for the Class

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LEVI & KORSINSKY, LLP
Eduard Korsinsky
[e-mail]
Nicholas I. Porritt (pro hac vice)
[e-mail]
Nancy A. Kulesa
[e-mail]
Christopher J. Kupka
[e-mail]
55 Broadway, 10th Floor
New York, New York 10006
Telephone: [phone]
Facsimile: [phone]

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Attorneys for Plaintiff Scott Posson

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-3STIPULATION AND [PROPOSED] ORDER
Case No. 3:16-cv-3938-RS

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Dated: September 3, 2019

ARNOLD & PORTER
By: Gilbert R. Serota
Gilbert R. Serota (#75305)
[e-mail]
Three Embarcadero Center, 10th Floor
San Francisco, CA 94111-4024
Telephone: [phone]
Facsimile: [phone]

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SIDLEY AUSTIN LLP
Alex Kaplan (pro hac vice)
[e-mail]
Jon W. Muenz (pro hac vice)
jmuenz@sidley
787 Seventh Avenue
New York, NY 10019
Telephone: [phone]
Facsimile: [phone]

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Attorneys for Defendants

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ATTESTATION

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I, Joshua Crowell, am the ECF User whose identification and password are being used to file
this Proposed Order for Extension of Class Certification Schedule. In compliance with Local Rule
5-1(i)(3), I hereby attest that Counsel for Defendants concur in this filing.

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DATED: September 3, 2019
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s/ Joshua Crowell
Joshua Crowell

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-4STIPULATION AND [PROPOSED] ORDER
Case No. 3:16-cv-3938-RS

[PROPOSED] ORDER

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Based on the Parties’ stipulation and the good cause described therein, the Court GRANTS
this stipulation. The following schedule shall apply:
Event

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Deadline

Pre-class certification fact depositions

April 24, 2020
May 27, 2020

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Plaintiffs’ expert disclosures and report(s) concerning
class certification (including any backup materials)

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Defendants’ expert disclosures and report(s) concerning
class certification (including any backup materials)

August 12, 2020

Plaintiffs’ rebuttal report(s) concerning class
certification (including any backup materials)

October 1, 2020

Expert depositions concerning class certification

October 16, 2020-October 30,
2020

Plaintiffs’ class certification motion and Daubert
challenges

November 17, 2020

Defendants’ class certification opposition, Daubert
challenges, and Daubert opposition

January 19, 2021

Plaintiffs’ reply brief, opposition to Daubert challenges,
and reply to Daubert challenges of Defendants’
expert(s)

February 5, 2021

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Defendants’ reply to Daubert challenges of Plaintiffs’
experts

February 24, 2021

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Class Certification Hearing

TBD (as soon as practicable
on a date convenient to the
Court) March 11, 2021

Date for Parties to Seek to Engage in Private Mediation

July 15, 2020

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Absent a showing of extraordinary cicumstances, no further extensions will be granted.
IT IS SO ORDERED.

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DATED: __________________
September 5, 2019

Hon. Richard Seeborg
U.S. District Court Judge

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-5STIPULATION AND [PROPOSED] ORDER
Case No. 3:16-cv-3938-RS