Hefler v. Wells Fargo & Company et al

Filing 90

STIPULATION AND ORDER re 89 STIPULATION WITH PROPOSED ORDER TO SET BRIEFING SCHEDULE filed by Wells Fargo & Company. Signed by Judge Jon S. Tigar on May 3, 2017. (wsn, COURT STAFF) (Filed on 5/3/2017)

1 Richard H. Klapper (pro hac vice)
([e-mail])
2 SULLIVAN & CROMWELL LLP
125 Broad Street
New York, New York 10004
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Telephone: [phone]
4 Facsimile: [phone]
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Brendan P. Cullen (SBN 194057)
([e-mail])
Sverker K. Hogberg (SBN 244640)
([e-mail])
Ryan J. McCauley (SBN 264913)
([e-mail])
SULLIVAN & CROMWELL LLP
1870 Embarcadero Road
Palo Alto, California 94303
[phone]
Telephone:
[phone]
Facsimile:

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Christopher M. Viapiano (pro hac vice)
([e-mail])
SULLIVAN & CROMWELL LLP
1700 New York Avenue, N.W., Suite 700
Washington, D.C. 20006
[phone]
Telephone:
[phone]
Facsimile:

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Counsel for Defendant Wells Fargo & Company

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[Additional Counsel on Signature Page]

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UNITED STATES DISTRICT COURT
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NORTHERN DISTRICT OF CALIFORNIA
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)
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Plaintiffs,
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vs.
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WELLS FARGO & COMPANY, JOHN G.
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STUMPF, JOHN R. SHREWSBERRY, CARRIE )
L. TOLSTEDT, TIMOTHY J. SLOAN, DAVID )
M. CARROLL, DAVID JULIAN, HOPE A.
)
HARDISON, MICHAEL J. LOUGHLIN, AVID )
MODJTABAI, JAMES M. STROTHER, JOHN D.)
BAKER II. JOHNS. CHEN. LLOYD H. DEAN. )

GARY HEFLER, MARCELO MIZUKI, GUY
SOLOMONOV, and UNION ASSET
MANAGEMENT HOLDING AG, Individually
and on Behalf of All Others Similarly Situated,

Case No. 3:16-cv-05479-JST

JOINT STIPULATION AND
[PROPOSED] ORDER TO SET
BRIEFING SCHEDULE
The Hon. Jon S. Tigar

SUWVAN

b.
CROMWEU. u.r

JOINT STIPULATION AND [PROPOSED] ORDER TO SET BRIEFING SCHEDULE
CASE No.3: 16-CV-054 79-JST

1 ELIZABETH A. DUKE, SUSAN E. ENGEL,
ENRIQUE HERNANDEZ JR., DONALD M.
2 JAMES, CYNTHIA H. MILLIGAN, FEDERICO
F. PENA, JAMES H. QUIGLEY, JUDITH M.
3 RUNSTAD, STEPHEN W. SANGER, SUSAN G.
SWENSON, and SUZANNE M. VAUTRINOT,
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Defendants.
_________________________________)
WHEREAS, on January 5, 2017, the Court held a hearing on Plaintiff Union Asset

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Management Holding AG's ("Union" or "Lead Plaintiff') motion to consolidate the above captioned

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action to appoint Union as Lead Plaintiff, and to approve Union's selection of counsel for the class (Dkt.

9 No. 29) (the "Lead Plaintiff Motion");
WHEREAS, on January 5, 2017, the Court granted the Lead Plaintiff Motion (Dkt. No.

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58);

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WHEREAS, on November 21, 2016, the Court entered the parties' Joint Stipulation and

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[Proposed] Order to Enlarge Time to Respond to Complaint (Dkt. No. 23), which extended the time in

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which defendants Wells Fargo & Company, John G. Stumpf, John R. Shrewsberry, and Carrie Tolstedt

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(together, the "Original Defendants") could respond to any complaint in this action until 60 days after

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Lead Plaintiff filed a consolidated class action complaint;

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WHEREAS, on January 11, 2017, the Lead Plaintiff and the Original Defendants

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(together, the "Original Parties") filed a Joint Stipulation and [Proposed] Order to Continue Case

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Management Conference and Set Briefing Schedule (Dkt. No. 63) (the "Initial Joint Stipulation");
WHEREAS, on January 11, 2017, the Court entered the Initial Joint Stipulation (Dkt. No.

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64), pursuant to which the Lead Plaintiff was to file a consolidated class action complaint on or before

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March 6, 2017; the Original Defendants are to respond to the consolidated class action complaint, by

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filing motions to dismiss or otherwise, on or before May 5, 2017; Lead Plaintiff is to file oppositions to

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the Original Defendants' motions to dismiss, if any, on or before July 7, 2017; and the Original

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Defendants are to file replies in support of their motions to dismiss, if any, on or before August 11,

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2017;

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SUUJ\'AN

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CROMWEU.UP

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JOINT STIPULATION AND [PROPOSED] ORDER TO SET BRIEFING SCHEDULE

CASE No. 3:16-CV-05479-JST

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WHEREAS, on March 6, 2017, Lead Plaintiff and individual plaintiffs Gary Hefler,

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Marcelo Mizuki, and Guy Solomonov (together, "Plaintiffs") filed a Consolidated Class Action

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Complaint for Violations of the Federal Securities Laws (the "Consolidated Complaint") (Dkt. No. 72);

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WHEREAS, the Consolidated Complaint for the first time asserts claims against 21 new

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defendants who were not previously parties to this action: (1) Timothy J. Sloan, (2) David M. Carroll,

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(3) David Julian, (4) Hope A. Hardison, (5) Michael J. Loughlin, (6) Avid Modjtabai, (7) James M.

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Strother, (8) John D. Baker II, (9) JohnS. Chen, (10) Lloyd H. Dean, (11) Elizabeth A. Duke, (12)

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Susan E. Engel, (13) Enrique Hernandez Jr., (14) Donald M. James, (15) Cynthia H. Milligan, (16)

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Federico F. Pefta, (17) James H. Quigley, (18) Judith M. Runstad, (19) Stephen W. Sanger, (20) Susan

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G. Swenson, and (21) Suzanne M. Vautrinot (together, the "New Defendants");
WHEREAS, the New Defendants were not previously parties to this action and many of
them have only recently retained counsel for this action;
WHEREAS, counsel for Plaintiffs, the Original Defendants, and the New Defendants

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have met and conferred and, in light of the large number ofNew Defendants and in order to coordinate

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all briefing on the same schedule, have agreed to a revised briefing schedule for the Original

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Defendants' and New Defendants' (together, "Defendants") forthcoming motions to dismiss the

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Consolidated Class Action Complaint;

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WHEREAS, the parties agree that nothing in this Stipulation will be construed as a
waiver of any of Defendants' or Plaintiffs rights or positions in law or in equity;
NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED, between
Plaintiffs, by and through their counsel, and Defendants, by and through their counsel, that:

1.

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motions to dismiss or otherwise, on or before June 19, 2017.
2.

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Plaintiffs shall file oppositions to Defendants' motions to dismiss, if any, on or
before August 21,2017.

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Defendants shall respond to the Consolidated Class Action Complaint, by filing

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Defendants shall file replies in support of their motions to dismiss, if any, on or
before September 25, 2017.

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SUUJV,\.~

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CROMWELL UP

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JOINT STIPULATION AND [PROPOSED] ORDER TO SET BRIEFING SCHEDULE
CASE No. 3: 16-CV-054 79-JST

Is/ Brendan P Cullen
Brendan P. Cullen (SBN 194057)
Sverker K. Hogberg (SBN 244640)
Rvan J. McCaulev (SBN 264913)
SULLIVAN & CROMWELL LLP
1870 Embarcadero Road
Palo Alto, California 94303
Telephone: [phone]
Facsimile: [phone]

Richard H. Klapper (pro hac vice)
([e-mail])
SULLIVAN & CROMWELL LLP
125 Broad Street
New York, New York 10004
Telephone: [phone]
Facsimile: [phone]
Christopher M. Viapiano (pro hac vice)
SULLIVAN & CROMWELL LLP
1700 New York Avenue, N.W., Suite 700
Washington, D.C. 20006
Telephone: [phone]
Facsimile: [phone]

Counsel for Defendant Wells Fargo &
Comvanv

lsi Grant P Fonda
Grant P. Fondo (SBN 181530)
([e-mail])
Lloyd Winawer (SBN 157823)
Nicholas A. Reider (SBN 296440)
GOODWIN PROCTER LLP
135 Commonwealth Drive
Menlo Park, CA 94025
San Francisco, CA 94105-2997
Telephone: [phone]
Facsimile: [phone]
Counsel for Defendant John G. Stumpf

lsi Ismail Ramsev
Katharine Ann Kates (SBN 155534)
([e-mail])
Ismail Ramsev (SBN 189820)
Miles Ehrlich (SBN 237954)
JOINT STIPULATION AND [PROPOSED] ORDER TO SET BRIEFING SCHEDULE

CASE NO. 3:16-CV-05479-JST

RAMSEY & EHRLICH LLP
803 Hearst A venue
Berkeley, California 94 71 0
Telephone: [phone]
Facsimile: [phone]

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Counsel for Defendant John R.
Shrewsberrv

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Dated: May 3, 2017
lsi Enu A Majnjgj

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Enu A. Mainigi (pro hac vice)
([e-mail])
Leslie Cooper Vigen (pro hac vice)
WILLIAMS & CONNOLLY LLP
725 Twelfth Street N. W.
Washington, DC 20005
Telephone: [phone]
Facsimile: [phone]

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Jeffrey E. Faucette (SBN 193066)
(j [e-mail])
SKAGGSFAUCETTELLP
One Embarcadero Center, Suite 500
San Francisco, CA 94111
Telephone: [phone]
Facsimile: [phone]

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Counsel for Defendant Carrie L. Tolstedt

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Dated: May 3, 2017

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Is/ Cristina C Arguedas

Cristina C. Arguedas (SBN 87787)
([e-mail])
Laurel L. Headley (SBN 152306)
Ted W. Cassman (SBN 98932)
ARGUEDAS, CASSMAN & HEADLEY LLP
803 Hearst A venue
Berkeley, CA 94 71 0
Telephone: [phone]
Facsimile: [phone]

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Counsel for Defendant Michael J Loughlin

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Dated: May 3, 2017
lsi Nanci I. Clarence

Nanci L. Clarence (SBN 12286)
(nclarence@clarencedyer .com)
Josh A. Cohen (SBN 217853)
Adam F. Shearer (SBN 279073)

SUWVAN

&
(ROMWEU..U.P

JOINT STIPULATION AND [PROPOSED] ORDER TO SET BRIEFING SCHEDULE

CASE No.3: 16-CV-05479-JST

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CLARENCE, DYER & COHEN LLP
899 Ellis Street
San Francisco, CA 94109
Telephone: [phone]
Facsimile: [phone]

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Counsel for Defendant Timothy J Sloan

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Dated: May 3, 2017

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Is/ Timothv P Cmdo
Timothy P. Crudo (SBN 143835)
([e-mail])
COBLENTZ PATCH DUFFY & BASS LLP
One Montgomery Street, Suite 3000
San Francisco, CA 941 04
Telephone: [phone]
Facsimile: [phone]

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Counsel for Defendants David Julian and
Avid Moditabai

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Dated: May 3, 2017
Is/ Marv G McNamara

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Mary G. McNamara (SBN 147131)
([e-mail])
Ed Swanson (SBN 159859)
([e-mail])
SWANSON & MCNAMARA LLP
300 Montgomery Street, Suite 1100
San Francisco. CA 94104
Telephone: [phone]
Facsimile: [phone]

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Counsel for Defendant Hove A. Hardison

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Dated: May 3, 2017

lsi Walter F Brown
Walter F. Brown (SBN 130248)
([e-mail])
James N. Kramer (SBN 154709)
[e-mail])
ORRICK. HERRINGTON & SUTCLIFFE LLP
The Orrick Building
405 Howard Street, San Francisco 94105
Telephone: [phone]
Counsel for Defendants David M Carroll and
James M Strother

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SUWVA..,.

&.
CROMWEU. LLP

JOINT STIPULATION AND [PROPOSED] ORDER TO SET BRIEFING SCHEDULE
CASE No. 3: 16-CV-054 79-JST

Is/ Jordan Eth

Jordan Eth (SBN 121617)
[e-mail])
Morrison & Foerster LLP
425 Market Street,
San Francisco, CA 94105
Telephone: [phone]
Facsimile: [phone]

Counsel for Defendants John D. Baker II,
John S. Chen, Lloyd H Dean, Elizabeth A.
Duke, Susan E. Engel, Enrique Hernandez
Jr., Donald M James, Cynthia H Milligan,
Federico F Pena, James H Quigley,
Judith M Runstad, Stephen W Sanger,
Susan G. Swenson, and Suzanne M
Vautrinot

lsi Wj])iam H Narwold
William H. Narwold (admitted vro hac vice)
MOTLEY RICE LLC
One Corporate Center, 20 Church St.
Hartford, Connecticut 06103
Telephone: [phone]
GreggS. Levin (admitted pro hac vice)
MOTLEY RICE LLC
28 Bridgeside Blvd.
Mt. Pleasant, South Carolina 29464
Telephone: [phone]

Counsel for Lead Plaintiff
Shawn A. Williams (SBN 213113)
Jason C. Davis (SBN 253370)
Aelish M. Baig (SBN 201279)
ROBBINS GELLER RUDMAN
&DOWDLLP
Post Montgomery Center
One Montgomery Street, Suite 1800
San Francisco, California 94104
Telephone: [phone]

Liaison Counsel

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SUUJVAN

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CRoMWEll. LLP

JOINT STIPULATION AND [PROPOSED] ORDER TO SET BRIEFING SCHEDULE
CASE No. 3: 16-CV-054 79-JST

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ATTESTATION PURSUANT TO GENERAL ORDER 45
I, Brendan P. Cullen, in compliance with General Order 45, Section X(B), hereby attest

3 that I obtained the concurrence of all ofthe above-listed counsel in filing this document.
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DATED: May 3, 2017

Is/ Brendan P. Cullen
Brendan P. Cullen

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CROMWEU. U.P

JOINT STIPULATION AND [PROPOSED] ORDER TO SET BRIEFING SCHEDULE
CASE No. 3: 16-CV-054 79-JST

[PROPOSED) ORDER

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2 THE FOREGOING STIPULATION IS APPROVED AND IT IS SO ORDERED.
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4 Dated:

May 3, 2017
THE HONORABLE JON S. TIGAR
UNITED STATES DISTRICT JUDGE

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JOINT STIPULATION AND [PROPOSED] ORDER TO SET BRIEFING SCHEDULE
CASE No. 3:16-CV-05479-JST