Pendleton v. Reid et al

Filing 17

ORDER granting (15) Motion to Consolidate Cases for Discovery, Trial. All further pleadings to be electronically filed to: 5:16CV37only. Member Case: 5:16CV45 to be administratively closed; granting (11) Motion to Consolidate Cases for Discovery, Trial. Plf Curtis R. Pendleton appointed Interim Lead Plaintiff. Law firms of Faruqi & Faruqi, LLP, and Ademi & O'Reilly, LLP, shall serve as Interim Co-Lead Counsel, law firm of Ward Black Law shall serve as Interim Co-Liaison Counsel, and law firm of Levi & Korsinsky shall serve as additional class counsel. Signed by District Judge Richard Voorhees on 3/31/2016. (cbb)

IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
STATESVILLE DIVISION
CIVIL ACTION NOS. 5:16-CV-00037-RLV-DSC & 5:16-CV-00045-RLV-DSC
CURTIS R. PENDLETON,
INDIVIDUALLY AND ON BEHALF OF
ALL OTHERS SIMILARLY SITUATED,
Plaintiff,
v.
ROBERT L. REID, ET AL.,
Defendants.

FLOYD SCROGHAM, INDIVIDUALLY
AND ONBEHALF OF ALL OTHERS
SIMILARLY SITUATED,
Plaintiff,
v.
ROBERT L. REID, ET AL.,
Defendants.

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ORDER

THIS MATTER IS BEFORE THE COURT on the Plaintiffs’ Unopposed Motions for
Consolidation of Related Cases and Appointment of Interim Co-Lead Counsel (hereinafter, the
“Consolidation Motions”). [Doc. No. 15] (Civil Action No. 5:16-CV-00037); [Doc. No. 11] (Civil
Action No. 5:16-CV-00045). For good cause shown, the Court GRANTS the Consolidation
Motions.
IT IS, THEREFORE, ORDERED THAT
(1)

The above-captioned actions are hereby consolidated for all purposes into one
action (the “Consolidated Action”);
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(2)

Following this Order, litigation-related documents need only be filed in the
Consolidated Action;

(3)

The caption of the Consolidated Action shall be “IN RE COMMUNITYONE
BANCORP CONSOLIDATED STOCKHOLDER LITIGATION,” except the
action shall be recorded, henceforth, only as Civil Action No. 5:16-CV-00037;

(4)

Plaintiff Curtis R. Pendleton is appointed Interim Lead Plaintiff for the proposed
class in the Consolidated Action;

(5)

The law firms of Faruqi & Faruqi, LLP, and Ademi & O'Reilly, LLP shall serve as
Interim Co-Lead Counsel;

(6)

The law firm of Ward Black Law shall serve as Interim Co-Liaison Counsel;

(7)

The law firm of Levi & Korsinsky, LLP shall serve as additional class counsel;

(8)

Defendants take no position as to the appointment of lnterim Lead Plaintiff, Interim
Co-Lead Counsel, Interim Co-Liaison Counsel, or additional class counsel.
Defendants do not waive, and expressly preserve, all rights and defenses, and
nothing in this Order shall be interpreted or construed as a determination as to the
appropriateness of the proposed class, class representative, or class counsel;

(9)

All documents previously filed to date in any of the cases consolidated herein are
deemed filed and are a part of the record in the Consolidated Action. The complaint
filed on February 29, 2016 in the Pendleton action shall be designated the operative
complaint (“Operative Complaint”). See [Doc. No. 1] (Civil Action No. 5:16-CV00037). Plaintiffs and Defendants shall confer with respect to a schedule for
answering or otherwise responding to the Operative Complaint. Defendants need

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not respond to any complaint or discovery requests filed in any action subject to
consolidation with the Consolidated Action;
(10)

Defendants’ counsel may rely upon all agreements made with Interim Co-Lead
Counsel, and such agreements shall be binding on all Plaintiffs;

(11)

Interim Co-Lead Counsel shall set policy for Plaintiffs for the prosecution of this
litigation, delegate and monitor the work performed by Plaintiffs’ attorneys to
ensure that there is no duplication of effort or unnecessary expense, coordinate on
behalf of Plaintiffs with respect to the initiation and conduct of discovery
proceedings, and provide supervision and coordination of the activities of
Plaintiffs’ counsel;

(12)

Interim Co-Lead Counsel, in consultation with Interim Co-Liaison Counsel, shall
assume the following powers and responsibilities:
(a)

coordinate and direct the preparation of pleadings;

(b)

coordinate and direct the briefing and argument of motions;

(c)

coordinate and direct the conduct of discovery and other pretrial
proceedings;

(d)

coordinate and direct class certification proceedings;

(e)

coordinate the selection of counsel to act as Plaintiffs’ spokesperson at
pretrial conferences;

(f)

call meetings of Plaintiffs’ counsel as they deem necessary and appropriate
from time to time;

(g)

conduct any and all settlement negotiations with counsel for the Defendants;

(h)

coordinate and direct the preparation for trial and trial of this matter, and to

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delegate work responsibilities to selected counsel as may be required; and
(i)

coordinate and direct any other matters concerning the prosecution or
resolution of the Consolidated Action;

(13)

Plaintiffs’ Interim Co-Liaison Counsel shall also be responsible for coordinating all
activities and appearances on behalf of Plaintiffs and for the dissemination of
notices and orders of this Court, as well as for communications to and from this
Court. No motion, request for discovery, or other pretrial or trial proceedings shall
be initiated or filed by any Plaintiffs except through Plaintiffs’ Interim Co-Liaison
Counsel; and

(14)

This Order shall apply to this Consolidated Action and any future-filed actions
relating to the subject matter of this case. When an action or document that properly
belongs as part of the Consolidated Action is hereafter filed, the parties are
HEREBY ORDERED to bring any such action, or related filing, to the Court’s
attention promptly. Counsel are to assist in assuring that counsel in subsequent
actions receive notice of this Order.

SO ORDERED.
Signed: March 31, 2016

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