White v. Wells Fargo Bank, N.A., et al

Filing 40

ORDER denying without prejudice 27 Motion to Dismiss; granting 29 Motion to Stay; granting 31 Motion to Stay the Rule 26(f) meeting and entry of a scheduling order; denying as moot 20 Motion to Dismiss for Failure to State a Claim. Signed by Chief Judge James C. Dever, III on 9/27/2016. (Briggeman, N.)

IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF NORTH CAROLINA
WESTERN DIVISION
No. 5:16-CV-152-D

RICHARD WHITE,
Plaintiff,

v.
WELLS FARGO & COMPANY, and
WELLS FARGO BANK, N.A.,
Defendants.

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ORDER

On June 13, 2016, Wells Fargo & Company and Wells Fargo Bank, N.A. ("defendants") filed
a motion to stay pending arbitration [D.E. 29] and a motion to stay the Ru1e 26(f) meeting and entry
of a schedu1ing order [D.E. 31]. See [D.E. 30, 32]. On June 16,2016, Richard White ("White" or
"plaintiff') objected to the motion to stay [D.E. 33]. On June 28, 2016, White responded in
opposition to the motion to stay [D.E. 34].
The court has considered the entire record and governing law. See, e.g., Landis v. N. Am.
Co., 299 U.S. 248, 254--58 (1936); J.J. Ryan & Sons. Inc. v. Rhone Pou1enc Textile. S.A., 863 F.2d
315, 320--21 (4th Cir. 1988); Am. Home Assurance Co. v. Vecco Concrete Constr. Co., 629 F.2d
961, 964 (4th Cir. 1980). Staying this action pending the arbitration between White and Wells Fargo
Securities, LLC will promote judicial economy, avoid confusion and inconsistent resu1ts, and will
not undu1y prejudice the parties to this action or create undue hardship. Accordingly, defendants'
motion to stay pending arbitration [D.E. 29] is GRANTED, and the action is STAYED pending final
resolution ofthe Financial Industry Regulatory Authority arbitration captioned White v. Wells Fargo
Securities. LLC, FINRA-DR Arbitration Case No. 15-01223. The parties promptly shall file a notice

with this court after final resolution of the arbitration. Moreover, defendants' motion to stay the
Ru1e 26(f) meeting and entry of a schedu1ing order [D.E. 31] is GRANTED, and all pretrial
discovery and deadlines in this action are STAYED pending final resolution of the arbitration.
Defendants' motion to dismiss plaintiff's complaint [D.E. 20] is DENIED as moot in light of the
amended complaint. Defendants' motion to dismiss plaintiff's amended complaint [D.E. 27] is
DENIED without prejudice. The amended complaint remains pending. Defendants may file another
motion to dismiss the amended complaint after final resolution of the arbitration.
SO ORDERED. This i. i day of September 2016.

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