Filed: Nov. 01, 2017
Latest Update: Nov. 01, 2017
Summary: CLASS ACTION STIPULATION AND PROPOSED ORDER REGARDING DEFINITION OF CERTIFIED CLASS WILLIAM ALSUP , District Judge . STIPULATION REGARDING DEFINITION OF CERTIFIED CLASS IT IS HEREBY STIPULATED AND AGREED, by and between counsel for the Parties to this action, as follows: 1. WHEREAS on October 20, 2017 this Court certified a class in the above referenced action; 2. WHEREAS the Court's Order re Class Certification provides a purchase cut-off date for the class of June 8, 2016; 3. WHEREA
Summary: CLASS ACTION STIPULATION AND PROPOSED ORDER REGARDING DEFINITION OF CERTIFIED CLASS WILLIAM ALSUP , District Judge . STIPULATION REGARDING DEFINITION OF CERTIFIED CLASS IT IS HEREBY STIPULATED AND AGREED, by and between counsel for the Parties to this action, as follows: 1. WHEREAS on October 20, 2017 this Court certified a class in the above referenced action; 2. WHEREAS the Court's Order re Class Certification provides a purchase cut-off date for the class of June 8, 2016; 3. WHEREAS..
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CLASS ACTION
STIPULATION AND PROPOSED ORDER REGARDING DEFINITION OF CERTIFIED CLASS
WILLIAM ALSUP, District Judge.
STIPULATION REGARDING DEFINITION OF CERTIFIED CLASS
IT IS HEREBY STIPULATED AND AGREED, by and between counsel for the Parties to this action, as follows:
1. WHEREAS on October 20, 2017 this Court certified a class in the above referenced action;
2. WHEREAS the Court's Order re Class Certification provides a purchase cut-off date for the class of June 8, 2016;
3. WHEREAS the parties agree that, for the reasons stated in the Court's order regarding tracing issues, the appropriate cut-off date for Section 11 claims is June 8, 2015 rather than June 8, 2016.
NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED by the parties, subject to the Court's approval, that the Class Definition should be as follows:
All persons and entities who purchased or otherwise acquired the common stock of LendingClub Corporation ("LendingClub" or the "Company") during the period from December 11, 2014 through May 6, 2016 (for claims under the Exchange Act of 1934) and all those who purchased or acquired LendingClub common stock during the period from December 11, 2014 through June 8, 2015 (for claims under the 1933 Securities Act) and were damaged thereby (collectively, the "Class"). Excluded from the Class are short sellers who incurred losses during the class period as a result of their short sales, defendants and their families, the officers, directors, and affiliates of defendants, at all relevant times, members of their immediate families and their legal representatives, heirs, successors or assigns, and any entity in which defendants have or had a controlling interest. Notwithstanding the foregoing, the Class shall include any investment company or pooled investment fund, including, but not limited to, mutual fund families, exchange traded funds, fund of funds and hedge funds, in which the Underwriter Defendants, or any of them, have, has or may have a direct or indirect interest, or as to which any Underwriter Defendant's affiliates may act as an investment advisor, but as to which any Underwriter Defendant alone or together with any of its respective affiliates is neither a majority owner nor the holder of a majority beneficial interest.
IT IS SO STIPULATED, THROUGH COUNSEL OF RECORD.
ATTESTATION
I, Kyle Batter, am the ECF User whose ID and password are being used to file this Stipulated and Proposed Order Regarding Definition of Certified Class. In compliance with Civil Local Rule 5-1(i)(3), I hereby attest that Jason A. Forge, Diane M. Doolittle, Charlene S. Shimada, Robert J. Liubicic, and Simona G. Strauss have concurred in this filing.
/s/Kyle Batter
___________________________
Kyle Kenneth Batter
* * *
ORDER
PURSUANT TO STIPULATION, IT IS SO ORDERED.
