Shaev v. Baker, II et al

Filing 269

STIPULATION AND ORDER re 268 STIPULATION WITH PROPOSED ORDER MODIFYING DEADLINES REGARDING ANTICIPATED MOTION FOR PRELIMINARY APPROVAL OF SETTLEMENT AGREEMENT filed by Wells Fargo & Co. Deadline to file motion for preliminary appro val of settlement agreement 2/28/2019. Deadline to file opposition to motion for preliminary approval 3/14/2019. Deadline to file reply to any opposition to motion for preliminary approval 3/21/2019. Hearing on motion for preliminary approval set for 4/4/2019 at 2:00 PM in San Francisco, Courtroom 9, 19th Floor before Judge Jon S. Tigar. Signed by Judge Jon S. Tigar on February 13, 2019. (wsn, COURT STAFF) (Filed on 2/13/2019)

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 Richard H. Klapper (pro hac vice) (klapperr@sullcrom.com) SULLIVAN & CROMWELL LLP 125 Broad Street New York, New York 10004-2498 Telephone: (212) 558-3555 Facsimile: (212) 291-9083 Brendan P. Cullen (SBN 194057) (cullenb@sullcrom.com) Sverker K. Hogberg (SBN 244640) (hogbergs@sullcrom.com) SULLIVAN & CROMWELL LLP 1870 Embarcadero Road Palo Alto, California 94303 Telephone: (650) 461-5600 Facsimile: (650) 461-5700 Christopher M. Viapiano (pro hac vice) (viapianoc@sullcrom.com) SULLIVAN & CROMWELL LLP 1700 New York Avenue, N.W., Suite 700 Washington, D.C. 20006 Telephone: (202) 956-6985 Facsimile: (202) 956-7056 Counsel for Nominal Defendant Wells Fargo & Company 15 [Additional Counsel on Signature Page] 16 17 18 UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 19 20 Lead Case No. 3:16-cv-05541-JST 21 24 STIPULATION AND [PROPOSED] ORDER MODIFYING DEADLINES REGARDING ANTICIPATED MOTION FOR PRELIMINARY APPROVAL OF SETTLEMENT AGREEMENT______________________ 25 The Honorable Jon. S. Tigar 22 23 IN RE WELLS FARGO & COMPANY SHAREHOLDER DERIVATIVE LITIGATION . 26 27 28 STIPULATION AND PROPOSED ORDER CASE NO. 3:16-CV-05541-JST WHEREAS, on January 16, 2019, the parties in the above-captioned action (the “Parties”) 1 2 filed a Joint Case Management Statement & Notice of Settlement, notifying the Court that the 3 Parties had reached an agreement in principle to settle the action and were finalizing the terms of 4 a settlement agreement, and requested that the Court set a briefing and hearing schedule on 5 Plaintiffs’ anticipated motion for preliminary approval of the forthcoming settlement agreement 6 and set aside all other dates in the action (Dkt. No. 266); 7 WHEREAS, on January 21, 2019, the Court set the following deadlines requested by the 8 Parties relating to Plaintiffs’ motion for preliminary approval of the settlement agreement and 9 vacated all other deadlines in the action (Dkt. No. 267): Event 10 Deadline Deadline to file motion for preliminary approval of settlement agreement 14 March 7, 2019 Hearing on motion for preliminary approval 13 February 28, 2019 Deadline to file reply to any opposition to motion for preliminary approval 12 February 14, 2019 Deadline to file opposition to motion for preliminary approval 11 March 21, 2019, at 2:00 p.m. Courtroom, 19th Floor 15 16 17 WHEREAS, the Parties have continued to work diligently with the assistance of Hon. 18 Daniel Weinstein (Ret.) to finalize the terms of the settlement agreement, but are still working to 19 resolve certain issues related to the anticipated settlement agreement; 20 WHEREAS, given the large number of parties and the complexity of the issues involved, 21 the Parties agree that they require additional time to complete negotiations in order to finalize the 22 anticipated settlement agreement, and therefore agree that extending the deadlines relating to 23 Plaintiffs’ anticipated motion for preliminary approval of the settlement agreement will assist in 24 facilitating resolution of the action;1 25 26 27 28 The Parties have not previously sought to modify the deadlines relating to Plaintiffs’ anticipated motion for preliminary approval, but previously have sought and been granted the following time modifications by the Court: (i) on January 23, 2017 (Dkt. No. 78) the Parties requested to continue a case management conference; (ii) on October 13, 2017 and November 10, 2017 the Parties filed stipulations concerning the deadline to answer the complaint in this action (Dkt. No. 175; 182); (iii) on August 23, 2018, Plaintiffs requested to vacate a deadline regarding the 1 STIPULATION AND PROPOSED ORDER CASE NO. 3:16-CV-05541-JST 1 WHEREAS, because all deadlines in this action have been vacated, save for those relating 2 to Plaintiffs’ anticipated motion for preliminary approval of the settlement agreement, the time 3 modifications requested by the Parties below will not affect the schedule for the case except as set 4 forth below. 5 NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED, between the 6 Parties, by and through their Counsel, and subject to the Court’s approval, that the deadlines 7 relating to Plaintiffs’ anticipated motion for preliminary approval of the settlement agreement be 8 modified as follows: 9 10 11 12 13 14 15 16 Event Previous Deadline New Deadline Deadline to file motion for preliminary approval of settlement agreement February 14, 2019 February 28, 2019 Deadline to file opposition to motion for preliminary approval February 28, 2019 March 14, 2019 Deadline to file reply to any opposition to motion for preliminary approval March 7, 2019 March 21, 2019 Hearing on motion for preliminary approval March 21, 2019, at 2:00 p.m. Courtroom, 19th Floor April 4, 2019, at 2:00 p.m. Courtroom, 19th Floor 17 18 19 20 21 22 23 24 25 26 27 28 submission of a joint discovery letter brief and to continue the deadline to submit a proposal regarding the case schedule, and on October 9, 2018, pursuant to the Court’s August 24, 2018 Order (Dkt. No. 247), the Parties proposed changes to the schedule in this action (Dkt. No. 255); and (iv) on January 21, 2019, the Court vacated the case management conference scheduled for January 23, 2019 (Dkt. No. 267). 2 STIPULATION AND PROPOSED ORDER CASE NO. 3:16-CV-05541-JST 1 2 Dated: February 13, 2019 LIEFF CABRASER HEIMANN & BERNSTEIN, LLP 3 By: 4 Richard M. Heimann (063607) rheimann@lchb.com Katherine C. Lubin (259826) kbenson@lchb.com Michael K. Sheen (288284) msheen@lchb.com LIEFF CABRASER HEIMANN & BERNSTEIN, LLP 275 Battery Street, 29th Floor San Francisco, CA 94111-3339 Telephone: (415) 956-1000 Facsimile: (415) 956-1008 5 6 7 8 9 10 11 12 13 14 15 16 17 18 /s/ Richard M. Heimann Steven E. Fineman (140335) sfineman@lchb.com Daniel P. Chiplock (Pro hac vice) dchiplock@lchb.com Nicholas Diamand (Pro hac vice) ndiamand@lchb.com Michael J. Miarmi (Pro hac vice) mmiarmi@lchb.com Sean A. Petterson (Pro hac vice) spetterson@lchb.com LIEFF CABRASER HEIMANN & BERNSTEIN, LLP 250 Hudson Street, 8th Floor New York, NY 10013-1413 Telephone: (212) 355-9500 Facsimile: (212) 355-9592 Attorneys for Plaintiff Fire & Police Pension Association of Colorado and Co-Lead Counsel 19 20 21 22 23 24 25 26 27 28 3 STIPULATION AND PROPOSED ORDER CASE NO. 3:16-CV-05541-JST 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Maya Saxena (Pro hac vice) msaxena@saxenawhite.com Joseph E. White, III (Pro hac vice) jwhite@saxenawhite.com Lester R. Hooker (241590) lhooker@saxenawhite.com Adam D. Warden (Pro hac vice) awarden@saxenawhite.com Dianne M. Anderson (286199) danderson@saxenawhite.com SAXENA WHITE P.A. 150 East Palmetto Park Road, Suite 600 Boca Raton, FL 33432 Telephone: (561) 394-3399 Facsimile: (561) 394-3382 Steven B. Singer (Pro hac vice) ssinger@saxenawhite.com Kyla Grant (Pro hac vice) kgrant@saxenawhite.com Sara DiLeo (Pro hac vice) sdileo@saxenawhite.com SAXENA WHITE P.A. 10 Bank Street, 8th Floor White Plains, NY 10606 Telephone: (914) 437-8551 Facsimile: (888) 631-3611 Attorneys for Co-Lead Plaintiff The City of Birmingham Retirement and Relief System and Co-Lead Counsel 16 17 18 19 20 21 22 23 24 25 26 27 28 4 STIPULATION AND PROPOSED ORDER CASE NO. 3:16-CV-05541-JST 1 SULLIVAN & CROMWELL LLP 2 By: /s/ Brendan P. Cullen 3 4 5 6 7 Brendan P. Cullen (SBN 194057) (cullenb@sullcrom.com) Sverker K. Hogberg (SBN 244640) (hogbergs@sullcrom.com) SULLIVAN & CROMWELL LLP 1870 Embarcadero Road Palo Alto, California 94303 Telephone: (650) 461-5600 Facsimile: (650) 461-5700 8 Attorneys for Nominal Defendant Wells Fargo & Co. 9 10 GOODWIN PROCTER LLP 11 By: 12 Grant P. Fondo (gfondo@goodwinlaw.com) Lloyd Winawer (lwinawer@goodwinlaw.com) Nicholas A. Reider (nreider@goodwinlaw.com) GOODWIN PROCTER LLP 601 Marshall Street Redwood City, CA 94063 Telephone: (650) 752-3100 Facsimile: (650) 853-1038 13 14 15 16 17 18 19 20 21 22 /s/ Grant P. Fondo Richard M. Strassberg (pro hac vice) (rstrassberg@goodwinlaw.com) Daniel P. Roeser (pro hac vice) (droeser@goodwinlaw.com) GOODWIN PROCTER LLP 620 8th Avenue New York, NY 10018 Telephone: (212) 813-8800 Facsimile: (212) 355-3333 23 Attorneys for Defendant John G. Stumpf 24 25 26 27 28 5 STIPULATION AND PROPOSED ORDER CASE NO. 3:16-CV-05541-JST 1 CLARENCE DYER & COHEN LLP 2 By: /s/ Nanci L. Clarence 3 4 5 6 7 Nanci L. Clarence (nclarence@clarencedyer.com) Josh A. Cohen (jcohen@clarencedyer.com) CLARENCE DYER & COHEN LLP 899 Ellis Street San Francisco, CA 94109 Telephone: (415) 749-1800 Facsimile: (415) 749-1694 8 Attorneys for Defendant Timothy J. Sloan 9 RAMSEY & EHRLICH LLP 10 By: /s/ Ismail Ramsey 11 12 13 14 15 Miles Ehrlich (miles@ramsey-ehrlich.com) Ismail Ramsey (izzy@ramsey-ehrlich.com) RAMSEY & EHRLICH LLP 803 Hearst Avenue Berkeley, CA 94710 Telephone: (510) 548-3600 Facsimile: (510) 291-3060 16 Attorneys for Defendant John R. Shrewsberry 17 18 19 20 21 22 23 24 25 26 27 28 6 STIPULATION AND PROPOSED ORDER CASE NO. 3:16-CV-05541-JST 1 WILLIAMS & CONNOLLY LLP 2 By: /s/ Enu A. Mainigi 3 4 5 6 Enu A. Mainigi (pro hac vice) (emainigi@wc.com) WILLIAMS & CONNOLLY LLP 725 Twelfth Street, N.W. Washington D.C. 20005 Telephone: (202) 434-5000 Facsimile: (202) 434-5029 7 Attorneys for Defendant Carrie Tolstedt 8 9 ARGUEDAS, CASSMAN & HEADLEY, LLP 10 By: 11 Cristina C. Arguedas (Bar No. 87787) arguedas@achlaw.com Ted W. Cassman (Bar No. 98932) cassman@achlaw.com Laurel L. Headley (Bar No. 152306) headley@achlaw.com 803 Hearst Avenue Berkeley, CA 94710 (510) 845-3000 (Tel) (510) 845-3003 (Fax) 12 13 14 15 /s/ Ted W. Cassman 16 Attorneys for Defendant Michael Loughlin 17 18 19 20 21 22 23 24 25 26 27 28 7 STIPULATION AND PROPOSED ORDER CASE NO. 3:16-CV-05541-JST 1 SHEARMAN & STERLING LLP 2 By: 3 John F. Cove, Jr. john.cove@shearman.com Emily V. Griffen egriffen@shearman.com Alethea M. Sargent (alethea.sargent@shearman.com) SHEARMAN & STERLING LLP 535 Mission Street, 25th Floor San Francisco, CA 94105 Telephone: (415) 616-1100 Facsimile: (415) 616-1199 4 5 6 7 8 9 10 11 12 13 14 15 16 /s/ John F. Cove, Jr. Stuart Baskin (pro hac vice) (sbaskin@shearman.com) John Gueli (jgueli@shearman.com) SHEARMAN & STERLING LLP 599 Lexington Avenue New York, NY 10022 Telephone: (212) 848-4000 Facsimile: (212) 848-7179 Attorneys for Defendants John D. Baker II, Elaine L. Chao, John S. Chen, Lloyd H. Dean, Elizabeth A. Duke, Susan E. Engel, Enrique Hernandez, Jr., Donald M. James, Cynthia H. Milligan, Federico F. Peña, James H. Quigley, Judith M. Runstad, Stephen W. Sanger, Susan G. Swenson and Suzanne M. Vautrinot 17 18 19 20 21 22 23 24 25 26 27 28 8 STIPULATION AND PROPOSED ORDER CASE NO. 3:16-CV-05541-JST 1 2 3 ATTESTATION PURSUANT TO GENERAL ORDER 45 I, Brendan P. Cullen, in compliance with General Order 45, Section X(B), hereby attest that I obtained the concurrence of all of the above-listed counsel in filing this document. 4 5 DATED: February 13, 2019 /s/ Brendan P. Cullen 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 STIPULATION AND PROPOSED ORDER CASE NO. 3:16-CV-05541-JST 1 ORDER 2 3 PURSUANT TO STIPULATION, IT IS SO ORDERED. 4 5 6 Dated: February 13, 2019 THE HON. JON S. TIGAR UNITED STATES DISTRICT JUDGE 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 STIPULATION AND PROPOSED ORDER CASE NO. 3:16-CV-05541-JST

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