Janssen v. OppenheimerFunds, Inc. et al

Filing 49

MINUTE ORDER: The stay imposed in these cases during the pendency of proceedings before the MDL panel is LIFTED. Defendants' 7 Motion to Transfer Case is denied without the need for further briefing. The 43 Motion for Joinder is denied as moot. The parties position statements, due within ten days of the MDL panels Order, shall focus on the consolidation issue as well as on any agreement among the parties as to Lead Plaintiff and Lead counsel selection, by Judge John L. Kane on 06/24/09.(wjc, )

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO Judge John L. Kane Civil Action No. 09-cv-386-JLK
RONALD J. JANSSEN, Individually and on Behalf of all Others Similarly Situated,

Plaintiff, v. OPPENHEIMERFUNDS, INC., et al., Defendants. __________________________________________________ Civil Action No. 09-cv-525-JLK HELGA PETERS, Individually and on Behalf of all Others Similarly Situated, Plaintiff, v. OPPENHEIMERFUNDS, INC. et al., Defendants. MINUTE ORDER Judge John L. Kane ORDERS 1. The stay imposed in these cases during the pendency of proceedings before the MDL panel is LIFTED. 2. Defendants' Motions to Transfer Janssen and Peters (i.e. the "Champion Fund") cases to the Southern District of New York (Doc. 7 in 09-cv-386 (Janssen) and Doc. 15 in 09-cv-525 (Peters) are DENIED without the need for further briefing. While these cases are not part of the Rochester Fund MDL, the overlapping defendants and concomitant efficiencies that will result from keeping them here far outweigh the grounds asserted by Defendants for transferring them to the Southern District of New York. 3. The various Motions for Joinder (Doc. 43 in 09-cv-386 and Docs. 26 and 40 in

09-cv-525) are DENIED as MOOT. 4. Unless brought within the MDL as tagalong actions, Janssen and Peters will remain separate and distinct from it for filing and docketing purposes. It is anticipated, however, that the cases will be part of all hearings and pretrial proceedings scheduled in the MDL cases. 5. In light of these rulings, the parties' position statements, due within ten days of the MDL panel's Order, shall focus on the consolidation issue as well as on any agreement among the parties as to Lead Plaintiff and Lead counsel selection.

Dated: June 24, 2009