JOINT STATEMENT REGARDING SETTLEMENT NEGOTIATIONS; STIPULATION AND PROPOSED ORDER VACATING NOVEMBER 2, 2012 COMPLIANCE HEARING

YVONNE GONZALEZ ROGERS, District Judge.

Pursuant to the Court's Order (Dkt. No. 123), all of the parties to the above-captioned cases jointly submit the following Joint Statement and Stipulation regarding the status of settlement negotiations in this case and the related case, Rogers v. Thompson et al, 12-cv-0203 YGR:

The parties' Memorandum of Understanding in connection with settlement of this litigation provides for confirmatory discovery. This process is underway, but has not been completed. Although the parties are hopeful that any disputes about the scope and nature of the documents to be produced will be resolved, it remains possible that this issue will require mediation. Plaintiffs take the position that such confirmatory discovery, including an interview with certain of the Wells Fargo Defendant directors, will inform them as to whether they can remain advocates for the terms in the Memorandum of Understanding and move forward with a Stipulation of Settlement.

The Memorandum of Understanding also left open the question of whether or not the parties could agree on an award for plaintiffs' counsel of attorneys fees and reimbursement of expenses. It provided for mediation as a means of resolving the issue. On October 23, 2012, Plaintiffs, Wells Fargo and the Wells Fargo Defendants' counsel mediated the issue of a possible fee award with the assistance of mediator Randy Wulff Unfortunately, they were unable to reach agreement. Pending a subsequent agreement among the parties, they have agreed that this issue will be left for resolution by the Court with the assistance of legal and factual submissions by the parties.

Only if confirmatory discovery is complete and a Stipulation of Settlement has been filed and subject to the written confidentiality agreement between these parties, Plaintiffs have agreed to provide Wells Fargo and counsel for the Wells Fargo Defendants with their time records in such form as will provide for reasonable and necessary protection of confidentiality, including applicable work product and attorney-client privilege. This disclosure will include applicable billing rates for all time recorded for these matters, along with all of their expense documentation. This material will be provided sufficiently in advance of any submission by the Wells Fargo Defendants to allow for review and comment in the final submissions, if necessary. In the event that Defendants believe that Plaintiffs' counsel's disclosures are insufficient, Defendants reserve the right to request the assistance of the Court in compelling further disclosure.

During the next two weeks the parties will attempt to meet and confer on all remaining issues and provide the Court with a schedule for all remaining matters. If settlement is abandoned, the parties will provide the Court with a schedule for supplemental briefing and a hearing date for the pending motions to dismiss.

THEREFORE, the parties, by and through their undersigned counsel of record, hereby agree and stipulate to the following:

1. The Compliance Hearing regarding Settlement scheduled for November 2, 2012, at 3:00 p.m., shall be vacated;

2. Counsel shall file a stipulation with a proposed schedule for all remaining matters before the Court no later than November 16, 2012.

IT IS SO STIPULATED.

ATTESTATION UNDER GENERAL ORDER 45

I, Gilbert R. Serota, am the ECF User whose ID and password are being used to file this Joint Scheduling Plan. In compliance with General Order 45, X.B., I hereby attest that all the signatories above have concurred in this filing.

PURSUANT TO STIPULATION, IT IS SO ORDERED.