Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-4_16-cv-05541/USCOURTS-cand-4_16-cv-05541-15/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:78m(a) Securities Exchange Act

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STIPULATION AND PROPOSED ORDER

CASE NO. 3:16-CV-05541-JST

Richard H. Klapper (pro hac vice)

(klapperr@sullcrom.com)

SULLIVAN & CROMWELL LLP

125 Broad Street

New York, New York 10004-2498

Telephone: (212) 558-3555

Facsimile: (212) 291-9083

Brendan P. Cullen (SBN 194057) 

(cullenb@sullcrom.com)

Sverker K. Hogberg (SBN 244640)

(hogbergs@sullcrom.com)

SULLIVAN & CROMWELL LLP

1870 Embarcadero Road

Palo Alto, California 94303

Telephone: (650) 461-5600

Facsimile: (650) 461-5700

Christopher M. Viapiano (pro hac vice)

(viapianoc@sullcrom.com)

SULLIVAN & CROMWELL LLP

1700 New York Avenue, N.W., Suite 700

Washington, D.C. 20006

Telephone: (202) 956-6985

Facsimile: (202) 956-7056

Counsel for Nominal Defendant 

Wells Fargo & Company

[Additional Counsel on Signature Page]

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

IN RE WELLS FARGO & COMPANY

SHAREHOLDER DERIVATIVE

LITIGATION

.

Lead Case No. 3:16-cv-05541-JST

STIPULATION AND [PROPOSED] 

ORDER MODIFYING DEADLINES 

REGARDING ANTICIPATED 

MOTION FOR PRELIMINARY 

APPROVAL OF SETTLEMENT 

AGREEMENT______________________

The Honorable Jon. S. Tigar

Case 4:16-cv-05541-JST Document 269 Filed 02/13/19 Page 1 of 11
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STIPULATION AND PROPOSED ORDER

CASE NO. 3:16-CV-05541-JST

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 

settlement agreement

February 14, 2019

Deadline to file opposition to motion for preliminary 

approval

February 28, 2019

Deadline to file reply to any opposition to motion for 

preliminary approval

March 7, 2019

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

 

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 

Case 4:16-cv-05541-JST Document 269 Filed 02/13/19 Page 2 of 11
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2

STIPULATION AND PROPOSED ORDER

CASE NO. 3:16-CV-05541-JST

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 

preliminary approval of 

settlement agreement

February 14, 2019 February 28, 2019

Deadline to file opposition to 

motion for preliminary 

approval

February 28, 2019 March 14, 2019

Deadline to file reply to any 

opposition to motion for 

preliminary approval

March 7, 2019 March 21, 2019

Hearing on motion for 

preliminary approval 

March 21, 2019, at 2:00 p.m.

Courtroom, 19th Floor

April 4, 2019, at 2:00 p.m.

Courtroom, 19th Floor

 

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).

Case 4:16-cv-05541-JST Document 269 Filed 02/13/19 Page 3 of 11
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3

STIPULATION AND PROPOSED ORDER

CASE NO. 3:16-CV-05541-JST

Dated: February 13, 2019 LIEFF CABRASER HEIMANN & BERNSTEIN, LLP

By: /s/ Richard M. Heimann

Richard M. Heimann (063607)

rheimann@lchb.com

Katherine C. Lubin (259826)

kbenson@lchb.com

Michael K. Sheen (288284)

msheen@lchb.com

LIEFF CABRASER HEIMANN & BERNSTEIN, LLP

275 Battery Street, 29th Floor

San Francisco, CA 94111-3339

Telephone: (415) 956-1000

Facsimile: (415) 956-1008

Steven E. Fineman (140335)

sfineman@lchb.com

Daniel P. Chiplock (Pro hac vice)

dchiplock@lchb.com

Nicholas Diamand (Pro hac vice)

ndiamand@lchb.com

Michael J. Miarmi (Pro hac vice)

mmiarmi@lchb.com

Sean A. Petterson (Pro hac vice)

spetterson@lchb.com 

LIEFF CABRASER HEIMANN & BERNSTEIN, LLP

250 Hudson Street, 8th Floor

New York, NY 10013-1413

Telephone: (212) 355-9500

Facsimile: (212) 355-9592

Attorneys for Plaintiff Fire & Police Pension Association 

of Colorado and Co-Lead Counsel

Case 4:16-cv-05541-JST Document 269 Filed 02/13/19 Page 4 of 11
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4

STIPULATION AND PROPOSED ORDER

CASE NO. 3:16-CV-05541-JST

Maya Saxena (Pro hac vice)

msaxena@saxenawhite.com

Joseph E. White, III (Pro hac vice)

jwhite@saxenawhite.com

Lester R. Hooker (241590)

lhooker@saxenawhite.com

Adam D. Warden (Pro hac vice)

awarden@saxenawhite.com

Dianne M. Anderson (286199)

danderson@saxenawhite.com

SAXENA WHITE P.A.

150 East Palmetto Park Road, Suite 600

Boca Raton, FL 33432

Telephone: (561) 394-3399

Facsimile: (561) 394-3382

Steven B. Singer (Pro hac vice)

ssinger@saxenawhite.com

Kyla Grant (Pro hac vice)

kgrant@saxenawhite.com

Sara DiLeo (Pro hac vice)

sdileo@saxenawhite.com 

SAXENA WHITE P.A.

10 Bank Street, 8th Floor

White Plains, NY 10606

Telephone: (914) 437-8551

Facsimile: (888) 631-3611

Attorneys for Co-Lead Plaintiff The City of Birmingham 

Retirement and Relief System and Co-Lead Counsel

Case 4:16-cv-05541-JST Document 269 Filed 02/13/19 Page 5 of 11
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5

STIPULATION AND PROPOSED ORDER

CASE NO. 3:16-CV-05541-JST

SULLIVAN & CROMWELL LLP

By: /s/ Brendan P. Cullen

Brendan P. Cullen (SBN 194057)

(cullenb@sullcrom.com)

Sverker K. Hogberg (SBN 244640)

(hogbergs@sullcrom.com)

SULLIVAN & CROMWELL LLP

1870 Embarcadero Road

Palo Alto, California 94303

Telephone: (650) 461-5600

Facsimile: (650) 461-5700

Attorneys for Nominal Defendant Wells Fargo & Co.

GOODWIN PROCTER LLP

By: /s/ Grant P. Fondo

Grant P. Fondo

(gfondo@goodwinlaw.com)

Lloyd Winawer

(lwinawer@goodwinlaw.com)

Nicholas A. Reider

(nreider@goodwinlaw.com)

GOODWIN PROCTER LLP

601 Marshall Street

Redwood City, CA 94063

Telephone: (650) 752-3100

Facsimile: (650) 853-1038

Richard M. Strassberg (pro hac vice)

(rstrassberg@goodwinlaw.com)

Daniel P. Roeser (pro hac vice)

(droeser@goodwinlaw.com)

GOODWIN PROCTER LLP

620 8th Avenue

New York, NY 10018

Telephone: (212) 813-8800

Facsimile: (212) 355-3333

Attorneys for Defendant John G. Stumpf

Case 4:16-cv-05541-JST Document 269 Filed 02/13/19 Page 6 of 11
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6

STIPULATION AND PROPOSED ORDER

CASE NO. 3:16-CV-05541-JST

CLARENCE DYER & COHEN LLP

By: /s/ Nanci L. Clarence

Nanci L. Clarence

(nclarence@clarencedyer.com)

Josh A. Cohen

(jcohen@clarencedyer.com)

CLARENCE DYER & COHEN LLP

899 Ellis Street

San Francisco, CA 94109

Telephone: (415) 749-1800

Facsimile: (415) 749-1694

Attorneys for Defendant Timothy J. Sloan

RAMSEY & EHRLICH LLP

By: /s/ Ismail Ramsey

Miles Ehrlich

(miles@ramsey-ehrlich.com)

Ismail Ramsey

(izzy@ramsey-ehrlich.com)

RAMSEY & EHRLICH LLP

803 Hearst Avenue

Berkeley, CA 94710

Telephone: (510) 548-3600

Facsimile: (510) 291-3060

Attorneys for Defendant John R. Shrewsberry

Case 4:16-cv-05541-JST Document 269 Filed 02/13/19 Page 7 of 11
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STIPULATION AND PROPOSED ORDER

CASE NO. 3:16-CV-05541-JST

WILLIAMS & CONNOLLY LLP

By: /s/ Enu A. Mainigi

Enu A. Mainigi (pro hac vice)

(emainigi@wc.com)

WILLIAMS & CONNOLLY LLP

725 Twelfth Street, N.W.

Washington D.C. 20005

Telephone: (202) 434-5000

Facsimile: (202) 434-5029

Attorneys for Defendant Carrie Tolstedt

ARGUEDAS, CASSMAN & HEADLEY, LLP

By: /s/ Ted W. Cassman

Cristina C. Arguedas (Bar No. 87787)

arguedas@achlaw.com

Ted W. Cassman (Bar No. 98932)

cassman@achlaw.com

Laurel L. Headley (Bar No. 152306)

headley@achlaw.com

803 Hearst Avenue

Berkeley, CA 94710

(510) 845-3000 (Tel)

(510) 845-3003 (Fax)

Attorneys for Defendant Michael Loughlin

Case 4:16-cv-05541-JST Document 269 Filed 02/13/19 Page 8 of 11
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STIPULATION AND PROPOSED ORDER

CASE NO. 3:16-CV-05541-JST

SHEARMAN & STERLING LLP

By: /s/ John F. Cove, Jr.

John F. Cove, Jr.

john.cove@shearman.com

Emily V. Griffen

egriffen@shearman.com

Alethea M. Sargent

(alethea.sargent@shearman.com)

SHEARMAN & STERLING LLP

535 Mission Street, 25th Floor

San Francisco, CA 94105

Telephone: (415) 616-1100

Facsimile: (415) 616-1199

Stuart Baskin (pro hac vice)

(sbaskin@shearman.com)

John Gueli

(jgueli@shearman.com)

SHEARMAN & STERLING LLP

599 Lexington Avenue

New York, NY 10022

Telephone: (212) 848-4000

Facsimile: (212) 848-7179

Attorneys for Defendants John D. Baker II, Elaine L. 

Chao, John S. Chen, Lloyd H. Dean, Elizabeth A. Duke, 

Susan E. Engel, Enrique Hernandez, Jr., Donald M. 

James, Cynthia H. Milligan, Federico F. Peña, James H. 

Quigley, Judith M. Runstad, Stephen W. Sanger, Susan G. 

Swenson and Suzanne M. Vautrinot

Case 4:16-cv-05541-JST Document 269 Filed 02/13/19 Page 9 of 11
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STIPULATION AND PROPOSED ORDER

CASE NO. 3:16-CV-05541-JST

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.

DATED: February 13, 2019 /s/ Brendan P. Cullen

Case 4:16-cv-05541-JST Document 269 Filed 02/13/19 Page 10 of 11
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STIPULATION AND PROPOSED ORDER

CASE NO. 3:16-CV-05541-JST

ORDER

PURSUANT TO STIPULATION, IT IS SO ORDERED.

Dated:

THE HON. JON S. TIGAR 

UNITED STATES DISTRICT JUDGE

February 13, 2019

Case 4:16-cv-05541-JST Document 269 Filed 02/13/19 Page 11 of 11