Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_16-cv-03938/USCOURTS-cand-3_16-cv-03938-1/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 TO EXTEND DEADLINE TO RESPOND Case No. 16-cv-3938-RS

ARNOLD & PORTER LLP

GILBERT R. SEROTA (Bar No. 75305)

gilbert.serota@aporter.com

ERICA M. CONNOLLY (Bar No. 288822)

erica.connolly@aporter.com

Three Embarcadero Center, 7th Floor

San Francisco, California 94111-4024

Telephone: (415) 471-3100

Facsimile: (415) 471-3400

LOWELL HAKY (No. 178526)

Vice President and Associate General Counsel

MAI KLAASSEN (No. 209546)

Vice President and Associate General Counsel

CHARLES SCHWAB & CO., INC.

211 Main Street

San Francisco, CA 94105

Telephone: (415) 471-3100

Facsimile: (415) 471-3400

Attorneys for Defendants THE CHARLES SCHWAB

CORPORATION and CHARLES SCHWAB & CO., INC.

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

ROBERT CRAGO, Individually And On Behalf

Of All Others Similarly Situated,

Plaintiff,

v.

THE CHARLES SCHWAB CORPORATION,

CHARLES SCHWAB & CO., INC., CHARLES

R. SCHWAB, and WALTER W. BETTINGER

II,

Defendants.

Case No. 3:16-cv-3938-RS

STIPULATION AND [PROPOSED]

ORDER TO EXTEND DEADLINE TO

RESPOND TO COMPLAINT AND TO

VACATE INITIAL CASE

MANAGEMENT CONFERENCE

Case 3:16-cv-03938-RS Document 24 Filed 09/26/16 Page 1 of 4
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-1-

STIPULATION AND [PROPOSED] ORDER TO EXTEND DEADLINE TO RESPOND Case No. 16-cv-3938-RS

WHEREAS, Plaintiff Robert Crago (“Plaintiff”) filed his complaint on July 13, 2016;

WHEREAS, the Court set an initial case management conference for October 13, 2016 (see

ECF No. 13);

WHEREAS, on July 27, 2016, Plaintiff sent a Notice of Lawsuit and Request To Waive

Service of Summons to Defendants The Charles Schwab Corporation, Charles Schwab & Co., Inc.,

Charles R. Schwab, and Walter W. Bettinger II (collectively “Defendants”);

WHEREAS, Defendants agreed to waive service as to The Charles Schwab Corporation and

Charles Schwab & Co., Inc. and sent these waivers to Plaintiff on August 26, 2016;

WHEREAS, pursuant to the Securities Exchange Act of 1934 (as amended by the Private

Securities Litigation Reform Act of 1995) (see 15 U.S.C. §78u-4(a)(3)(i)(II)) and Civ. L.R. 23-1(b),

on September 16, 2016, two sets of parties moved the Court for appointment as lead plaintiff of the

putative class, and the hearing on the motion is set for October 27, 2016 (see ECF Nos. 14, 17);

WHEREAS, Plaintiff Crago has not moved for appointment as lead plaintiff of the putative

class;

WHEREAS, following appointment of lead plaintiff, a new or Amended Complaint will be

filed and Defendants anticipate that they will likely move to dismiss said Complaint;

WHEREAS, these parties agree that in light of the foregoing circumstances and in the

interest of judicial efficiency, administration and justice, as well as conservation of judicial and

private resources, the appointed lead plaintiff who amends or files a new Complaint should be

responsible for responding to Defendants’ intended motion to dismiss;

WHEREAS, the parties have conferred and have agreed to extend the deadline for

Defendants to respond to the Amended Complaint until 30 days after the lead plaintiff files the

Amended Complaint;

WHEREAS, pursuant to the terms of the Securities Exchange Act (as amended by the

PSLRA) (see 15 U.S.C. §78u-4(b)(3)(B)), all discovery is currently stayed pending resolution of

any motion to dismiss filed by Defendants; and

WHEREAS, these parties also agree that the initial case management conference, now set to

occur before the hearing on lead plaintiff, should be vacated.

Case 3:16-cv-03938-RS Document 24 Filed 09/26/16 Page 2 of 4
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STIPULATION AND [PROPOSED] ORDER TO EXTEND DEADLINE TO RESPOND Case No. 16-cv-3938-RS

NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED, SUBJECT TO

APPROVAL BY THIS COURT, by these parties through their respective counsel of record, as

follows:

1. Defendants’ deadline to respond to the Complaint will be extended until 30 days

after the appointed lead plaintiff files a new or Amended Complaint;

2. The initial case management conference currently scheduled for October 13, 2016

will be vacated;

3. These parties have not sought any other extension of time in this action;

4. These parties do not seek to reset these dates for the purpose of delay. The proposed

new dates will not have an effect on any pre-trial and trial dates as the Court has yet to schedule

these dates.

SO STIPULATED.

Dated: September 23, 2016 ARNOLD & PORTER LLP

By: /s/ Gilbert R. Serota

GILBERT R. SEROTA

Attorneys for Defendants THE CHARLES

SCHWAB CORPORATION and

CHARLES SCHWAB & CO., INC.

Dated: September 23, 2016 LEVI & KORSINSKY LLP

By: /s/ Adam McCall

ADAM MCCALL

Attorneys for Plaintiff

ROBERT CRAGO

ATTESTATION

I, Gilbert R. Serota, am the ECF User whose identification and password are being used to

file this Stipulation And [Proposed] Order To Extend Deadline To Respond To Complaint And To

Vacate Initial Case Management Conference. In compliance with Local Rule 5-1(i)(3), I hereby

attest that counsel for plaintiff, Adam McCall, concurs in this filing.

DATED: September 23, 2016.

/s/ Gilbert R. Serota

GILBERT R. SEROTA

Case 3:16-cv-03938-RS Document 24 Filed 09/26/16 Page 3 of 4
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STIPULATION AND [PROPOSED] ORDER TO EXTEND DEADLINE TO RESPOND Case No. 16-cv-3938-RS

[PROPOSED] ORDER

Based on the parties’ stipulation and the good cause described therein, the Court GRANTS

this stipulation. Defendants’ deadline to respond is 30 days after the appointed lead plaintiff for the

putative class files a new or Amended Complaint. The initial case management conference set for

October 13 is vacated.

IT IS SO ORDERED.

DATED:

HON. RICHARD SEEBORG

U.S. District Court Judge

9/26/16

continued to January 5, 2017. Joint case management statement due December 29, 2016. shall be

Case 3:16-cv-03938-RS Document 24 Filed 09/26/16 Page 4 of 4