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In re Wells Fargo & Company Shareholder Derivative Litigation, 3:16-cv-05541-JST. (2019)

Court: District Court, N.D. California Number: infdco20190214b65 Visitors: 10
Filed: Feb. 13, 2019
Latest Update: Feb. 13, 2019
Summary: STIPULATION AND [PROPOSED] ORDER MODIFYING DEADLINES REGARDING ANTICIPATED MOTION FOR PRELIMINARY APPROVAL OF SETTLEMENT AGREEMENT JON S. TIGAR , District Judge . WHEREAS, on January 16, 2019, the parties in the above-captioned action (the "Parties") filed a Joint Case Management Statement & Notice of Settlement, notifying the Court that the Parties had reached an agreement in principle to settle the action and were finalizing the terms of a settlement agreement, and requested that th
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STIPULATION AND [PROPOSED] ORDER MODIFYING DEADLINES REGARDING ANTICIPATED MOTION FOR PRELIMINARY APPROVAL OF SETTLEMENT AGREEMENT

WHEREAS, on January 16, 2019, the parties in the above-captioned action (the "Parties") filed a Joint Case Management Statement & Notice of Settlement, notifying the Court that the Parties had reached an agreement in principle to settle the action and were finalizing the terms of a settlement agreement, and requested that the Court set a briefing and hearing schedule on Plaintiffs' anticipated motion for preliminary approval of the forthcoming settlement agreement and set aside all other dates in the action (Dkt. No. 266);

WHEREAS, on January 21, 2019, the Court set the following deadlines requested by the Parties relating to Plaintiffs' motion for preliminary approval of the settlement agreement and vacated all other deadlines in the action (Dkt. No. 267):

Event Deadline Deadline to file motion for preliminary approval of February 14, 2019 settlement agreement Deadline to file opposition to motion for preliminary February 28, 2019 approval Deadline to file reply to any opposition to motion for March 7, 2019 preliminary approval Hearing on motion for preliminary approval March 21, 2019, at 2:00 p.m. Courtroom, 19th Floor

WHEREAS, the Parties have continued to work diligently with the assistance of Hon. Daniel Weinstein (Ret.) to finalize the terms of the settlement agreement, but are still working to resolve certain issues related to the anticipated settlement agreement;

WHEREAS, given the large number of parties and the complexity of the issues involved, the Parties agree that they require additional time to complete negotiations in order to finalize the anticipated settlement agreement, and therefore agree that extending the deadlines relating to Plaintiffs' anticipated motion for preliminary approval of the settlement agreement will assist in facilitating resolution of the action;1

WHEREAS, because all deadlines in this action have been vacated, save for those relating to Plaintiffs' anticipated motion for preliminary approval of the settlement agreement, the time modifications requested by the Parties below will not affect the schedule for the case except as set forth below.

NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED, between the Parties, by and through their Counsel, and subject to the Court's approval, that the deadlines relating to Plaintiffs' anticipated motion for preliminary approval of the settlement agreement be modified as follows:

Event Previous Deadline New Deadline Deadline to file motion for February 14, 2019 February 28, 2019 preliminary approval of settlement agreement Deadline to file opposition to February 28, 2019 March 14, 2019 motion for preliminary approval Deadline to file reply to any March 7, 2019 March 21, 2019 opposition to motion for preliminary approval Hearing on motion for March 21, 2019, at 2:00 p.m. April 4, 2019, at 2:00 p.m. preliminary approval Courtroom, 19th Floor Courtroom, 19th Floor

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.

ORDER

PURSUANT TO STIPULATION, IT IS SO ORDERED.

FootNotes


1. 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 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).
Source:  Leagle

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