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

Filing 24

STIPULATION AND ORDER RE 23 STIPULATION WITH PROPOSED ORDER to Extend Deadline to Respond to Complaint and to Vacate Initial Case Management Conference. Initial Case Management Conference previously set for 10/13/2016 continued to 1/5/2017 at 10:00 AM in Courtroom 3, 17th Floor, San Francisco. Case Management Statement due by 12/29/2016. Signed by Judge Richard Seeborg on 9/26/16. (cl, COURT STAFF) (Filed on 9/26/2016)

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ARNOLD & PORTER LLP
GILBERT R. SEROTA (Bar No. 75305)
[e-mail]
ERICA M. CONNOLLY (Bar No. 288822)
[e-mail]
Three Embarcadero Center, 7th Floor
San Francisco, California 94111-4024
Telephone: [phone]
Facsimile: [phone]
LOWELL HAKY (No. 178526)
Vice President and Associate General Counsel
MAI KLAASSEN (No. 209546)
Vice President and Associate General Counsel
CHARLES SCHWAB & CO., INC.
211 Main Street
San Francisco, CA 94105
Telephone: [phone]
Facsimile: [phone]
Attorneys for Defendants THE CHARLES SCHWAB
CORPORATION and CHARLES SCHWAB & CO., INC.

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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,
Plaintiff,

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v.
THE CHARLES SCHWAB CORPORATION,
CHARLES SCHWAB & CO., INC., CHARLES
R. SCHWAB, and WALTER W. BETTINGER
II,

Case No. 3:16-cv-3938-RS
STIPULATION AND [PROPOSED]
ORDER TO EXTEND DEADLINE TO
RESPOND TO COMPLAINT AND TO
VACATE INITIAL CASE
MANAGEMENT CONFERENCE

Defendants.

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STIPULATION AND [PROPOSED] ORDER TO EXTEND DEADLINE TO RESPOND

Case No. 16-cv-3938-RS

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WHEREAS, Plaintiff Robert Crago (“Plaintiff”) filed his complaint on July 13, 2016;

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WHEREAS, the Court set an initial case management conference for October 13, 2016 (see

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ECF No. 13);

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WHEREAS, on July 27, 2016, Plaintiff sent a Notice of Lawsuit and Request To Waive

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Service of Summons to Defendants The Charles Schwab Corporation, Charles Schwab & Co., Inc.,

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Charles R. Schwab, and Walter W. Bettinger II (collectively “Defendants”);

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WHEREAS, Defendants agreed to waive service as to The Charles Schwab Corporation and
Charles Schwab & Co., Inc. and sent these waivers to Plaintiff on August 26, 2016;

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WHEREAS, pursuant to the Securities Exchange Act of 1934 (as amended by the Private

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Securities Litigation Reform Act of 1995) (see 15 U.S.C. §78u-4(a)(3)(i)(II)) and Civ. L.R. 23-1(b),

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on September 16, 2016, two sets of parties moved the Court for appointment as lead plaintiff of the

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putative class, and the hearing on the motion is set for October 27, 2016 (see ECF Nos. 14, 17);

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WHEREAS, Plaintiff Crago has not moved for appointment as lead plaintiff of the putative
class;
WHEREAS, following appointment of lead plaintiff, a new or Amended Complaint will be
filed and Defendants anticipate that they will likely move to dismiss said Complaint;
WHEREAS, these parties agree that in light of the foregoing circumstances and in the

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interest of judicial efficiency, administration and justice, as well as conservation of judicial and

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private resources, the appointed lead plaintiff who amends or files a new Complaint should be

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responsible for responding to Defendants’ intended motion to dismiss;

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WHEREAS, the parties have conferred and have agreed to extend the deadline for

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Defendants to respond to the Amended Complaint until 30 days after the lead plaintiff files the

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Amended Complaint;

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WHEREAS, pursuant to the terms of the Securities Exchange Act (as amended by the

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PSLRA) (see 15 U.S.C. §78u-4(b)(3)(B)), all discovery is currently stayed pending resolution of

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any motion to dismiss filed by Defendants; and

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WHEREAS, these parties also agree that the initial case management conference, now set to
occur before the hearing on lead plaintiff, should be vacated.
-1STIPULATION AND [PROPOSED] ORDER TO EXTEND DEADLINE TO RESPOND

Case No. 16-cv-3938-RS

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

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APPROVAL BY THIS COURT, by these parties through their respective counsel of record, as

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follows:

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1.

Defendants’ deadline to respond to the Complaint will be extended until 30 days

after the appointed lead plaintiff files a new or Amended Complaint;

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2.

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will be vacated;

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3.

These parties have not sought any other extension of time in this action;

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4.

These parties do not seek to reset these dates for the purpose of delay. The proposed

The initial case management conference currently scheduled for October 13, 2016

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new dates will not have an effect on any pre-trial and trial dates as the Court has yet to schedule

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these dates.

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SO STIPULATED.
Dated: September 23, 2016

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ARNOLD & PORTER LLP
By:

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Attorneys for Defendants THE CHARLES
SCHWAB CORPORATION and
CHARLES SCHWAB & CO., INC.

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/s/ Gilbert R. Serota
GILBERT R. SEROTA

Dated: September 23, 2016

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LEVI & KORSINSKY LLP
By:

/s/ Adam McCall
ADAM MCCALL

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Attorneys for Plaintiff
ROBERT CRAGO

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ATTESTATION

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I, Gilbert R. Serota, am the ECF User whose identification and password are being used to

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file this Stipulation And [Proposed] Order To Extend Deadline To Respond To Complaint And To

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Vacate Initial Case Management Conference. In compliance with Local Rule 5-1(i)(3), I hereby

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attest that counsel for plaintiff, Adam McCall, concurs in this filing.

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DATED: September 23, 2016.

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/s/ Gilbert R. Serota
GILBERT R. SEROTA
-2STIPULATION AND [PROPOSED] ORDER TO EXTEND DEADLINE TO RESPOND

Case No. 16-cv-3938-RS

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[PROPOSED] ORDER
Based on the parties’ stipulation and the good cause described therein, the Court GRANTS

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this stipulation. Defendants’ deadline to respond is 30 days after the appointed lead plaintiff for the

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putative class files a new or Amended Complaint. The initial case management conference set for
shall be
October 13 is vacated. continued to January 5, 2017. Joint case management
statement due December 29, 2016.
IT IS SO ORDERED.

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DATED: 9/26/16

HON. RICHARD SEEBORG
U.S. District Court Judge

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-3-

STIPULATION AND [PROPOSED] ORDER TO EXTEND DEADLINE TO RESPOND

Case No. 16-cv-3938-RS