Turkle Trust v. Wells Fargo & Company

Filing 19

ORDER by Judge Claudia Wilken Granting 14 Stipulation TO APPOINT INTERIM CLASS COUNSEL PURSUANT TO FED. R. CIV. P. 23(G)(3) (ndr, COURT STAFF) (Filed on 2/21/2012)

1
2
3
4
5
6
7

Robert C. Schubert (S.B.N. 62684)
[e-mail]
Willem F. Jonchkeer (S.B.N. 178748)
[e-mail]
Jason A. Pikler (S.B.N. 245722)
[e-mail]
SCHUBERT JONCKHEER & KOLBE LLP
Three Embarcadero Center, Suite 1650
San Francisco, California 94111
Telephone: [phone]
Facsimile: [phone]

Edwin C. Schreiber (S.B.N. 41066)
[e-mail]
Eric A. Schreiber (S.B.N. 194851)
[e-mail]
SCHREIBER & SCHREIBER, INC.
16501 Ventura Boulevard, Suite 401
Encino, California 91436-2068
Telephone: [phone]
Facsimile: [phone]

Attorneys for Plaintiff James L. Turkle Trust
[Additional Counsel on Signature Page]

8
9
10
11
12
13
14

Bruce A. Ericson (State Bar No. 76342)
[e-mail]
Jeffrey Jacobi (State Bar No. 252884)
[e-mail]
PILLSBURY WINTHROP SHAW
PITTMAN LLP
50 Fremont Street
San Francisco, CA 94105
Telephone: [phone]
Facsimile: [phone]
Attorneys for Defendant Wells Fargo &
Company

15
16

UNITED STATES DISTRICT COURT

17

NORTHERN DISTRICT OF CALIFORNIA

18
19
20

JAMES L. TURKLE TRUST, individually
and on behalf of all others similarly
situated,

21
Plaintiff,
22

Case No. C 11-06494-CW
STIPULATION TO APPOINT INTERIM
CLASS COUNSEL PURSUANT TO
FED. R. CIV. P. 23(G)(3) AND
[PROPOSED] ORDER

v.
23
24
25

WELLS FARGO & COMPANY, a
Delaware Corporation,
Defendant.

26
27
28
STIPULATION TO APPOINT INTERIM CLASS
COUNSEL AND [PROPOSED] ORDER
CASE NO. C 11-06494-CW

1

Plaintiff James L. Turkle Trust (“Turkle Trust” or “Plaintiff”) and Defendant Wells Fargo

2

& Company (“Wells Fargo” or “Defendant”), by and through the undersigned attorneys, hereby

3

agree and stipulate as follows:

4

Whereas Fed. R. Civ. P. 23(g)(3) states that the “court may designate interim counsel to

5

act on behalf of a putative class before determining whether to certify the action as a class

6

action”;

7

Whereas in the interest of the efficient conduct of this litigation, Defendant does not

8

oppose designation at this time of Schubert Jonckheer & Kolbe LLP and Schreiber & Schreiber,

9

Inc. to serve as interim counsel to act on behalf of the putative class, while expressly reserving its

10

right to oppose class certification on any grounds;

11

Whereas a duplicative class action involving Wells Fargo’s redemption of Wachovia

12

Capital Trust X 7.85% Trust Preferred Securities (“Capital X TruPS”) was filed in the United

13

States District Court of the Central District of California on December 28, 2011 (Gilberti v. Wells

14

Fargo & Company, No. 11-10749-JFW);

15

Whereas the plaintiff in the Central District of California action, through his counsel

16

Schreiber & Schreiber, Inc., voluntarily dismissed the action on January 18, 2012, so as to

17

concentrate litigation involving the Capital X TruPS in a single judicial district;

18

Whereas the parties believe there is a possibility that additional actions relating to the

19

redemption of Capital X TruPS might be filed and that the appointment of interim class counsel

20

would help to ensure that the parties’ pre-certification litigation efforts are conducted efficiently;

21

and

22

Whereas Plaintiff submits with this stipulation the Declarations of Robert C. Schubert and

23

Edwin C. Schreiber, which provide the court with a foundation under Fed. R. Civ. P. 23(g)(1) for

24

determining that Schubert Jonckheer & Kolbe LLP and Schreiber & Schreiber, Inc., are qualified

25

to serve as interim counsel on behalf of the putative Class of investors in Capital X TruPS (the

26

declarations being submitted only by Plaintiff, with Defendant reserving the right to contest the

27

declarations’ assertions at a future date);

28
-2-

STIPULATION TO APPOINT INTERIM CLASS
COUNSEL AND [PROPOSED] ORDER
CASE NO. C 11-06494-CW

1
2
3

IT IS HEREBY STIPULATED AND AGREED, by and through the undersigned
attorneys for the parties, subject to the Court’s approval, that:
Pursuant to Fed. R. Civ. P 23(g)(3), the Court may appoint the law firms of Schubert

4

Jonckheer & Kolbe LLP and Schreiber & Schreiber, Inc. as Interim Co-Lead Class Counsel to act

5

on behalf of the putative class in this case and in any additional actions on behalf of investors in

6

Capital X TruPS that might be consolidated with this case.

7
8

IT IS SO STIPULATED.
Dated: February 3, 2012

9

SCHUBERT JONCKHEER & KOLBE LLP
By: /s/ Robert C. Schubert
Robert C. Schubert
Willem F. Jonckheer
Jason A. Pikler
Three Embarcadero Center
Suite 1650
San Francisco, CA 94111
Telephone: [phone]
Facsimile: [phone]

10
11
12
13
14

SCHREIBER & SCHREIBER, INC.
Edwin C. Schreiber
Eric A. Schreiber
16501 Ventura Boulevard, Suite 401
Encino, California 91436-2068
Telephone: [phone]
Facsimile: [phone]

15
16
17
18

LAW OFFICE OF PETER A. LAGORIO
Peter A. Lagorio
63 Atlantic Avenue
Boston, Massachusetts 02110
Telephone: [phone]
Facsimile: [phone]

19
20
21

Attorneys for Plaintiff James L. Turkle Trust

22

26

PILLSBURY WINTHROP SHAW PITTMAN LLP
By: /s/ Bruce A. Ericson
Bruce A. Ericson
50 Fremont Street
San Francisco, CA 94105
Telephone: [phone]
Facsimile: [phone]

27

Attorneys for Wells Fargo & Company

23
24
25

Dated: February 3, 2012

28
-3-

STIPULATION TO APPOINT INTERIM CLASS
COUNSEL AND [PROPOSED] ORDER
CASE NO. C 11-06494-CW

1
2
3

I, Jason A. Pikler, am the ECF User whose ID and password are being used to file this
Stipulation. In compliance with General Order 45, section X.B., I hereby attest that I have on file
the concurrences for any signatures indicated by a “conformed” signature (/s/) within this e-filed
document.
By: /s/ Jason A. Pikler
Jason A. Pikler

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
-4-

STIPULATION TO APPOINT INTERIM CLASS
COUNSEL AND [PROPOSED] ORDER
CASE NO. C 11-06494-CW

1

[PROPOSED] ORDER

2

The Court has considered the above stipulation and the related Declarations of Robert C.

3

Schubert and Edwin C. Schreiber. Pursuant to Fed. R. Civ. P 23(g), the Court finds that the law

4

firms of Schubert Jonckheer & Kolbe LLP and Schreiber & Schreiber, Inc. will adequately and

5

fairly represent the interests of the Class in pre-class certification proceedings. Accordingly, the

6

Court hereby appoints Schubert Jonckheer & Kolbe LLP and Schreiber & Schreiber, Inc. as

7

Interim Co-Lead Class Counsel to act on behalf of the putative class in this case and in any

8

additional actions on behalf of investors in Wachovia Capital Trust X 7.85% Trust Preferred

9

Securities (“Capital X TruPS”) that might be consolidated with this case.

10

This order is without prejudice to the rights of Defendant to oppose class certification or

11

appointment of Schubert Jonckheer & Kolbe LLP and Schreiber & Schreiber, Inc. as regular class

12

counsel on any grounds, including adequacy of representation under Fed. R. Civ. P 23(a) and (g).

13

IT IS SO ORDERED.

14
15
16

Date: _________________
2/21/2012

__________________________________
The Honorable Claudia Wilken

17
18
19
20
21
22
23
24
25
26
27
28
-5-

STIPULATION TO APPOINT INTERIM CLASS
COUNSEL AND [PROPOSED] ORDER
CASE NO. C 11-06494-CW