Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_08-cv-01510/USCOURTS-cand-3_08-cv-01510-98/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:77 Securities Fraud

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United States District Court

For the Northern District of California

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IN THE UNITED STATES DISTRICT COURT

FOR THE NORTHERN DISTRICT OF CALIFORNIA

IN RE: 

CHARLES SCHWAB CORPORATION

SECURITIES LITIGATION.

This Document Relates

To All Cases.

 /

No. C 08-01510 WHA

ORDER REGARDING 

UNTIMELY OPT OUTS

At yesterday’s hearing, the undersigned heard from the following class members (or their

legal representatives) seeking permission to opt out of the class after the deadline: (1) Professor

Jack Garvey, (2) The Union Mission, (3) and Mr. Robert Westervelt. The requests by these three

class members will be ruled on shortly. Based upon the declarations submitted by counsel,

however, there are additional class members that did not file timely opt-out requests but now seek

to opt out. One of these class members — Mr. Thomas Chowattukunnel — filed a formal motion

during the hearing yesterday seeking permission to opt out of the class. A briefing schedule will

be set forth as to Mr. Chowattukunnel’s request, and it will also be decided in due course. 

The remaining class members who filed untimely opt-out requests with Gilardi, however,

have not made formal requests to the Court seeking permission to opt out of the class. For these

class members, counsel should meet and confer and have these individuals and entities in mind in

their negotiations with respect to the adjustment clause. They should also promptly notify all 

Case 3:08-cv-01510-WHA Document 720 Filed 04/27/10 Page 1 of 2
United States District Court

For the Northern District of California

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such persons that any motion to be allowed to opt out late due to excusable neglect should be

filed BY MAY 14, 2010, as a formal motion in court. To be clear, any class member who has

made an untimely request to opt out of the class — with the exception of those mentioned in this

order or others who, by stipulation between the parties, have had their late requests granted —

should be given notice that they must file a formal motion by this deadline.

Dated: April 27, 2010. WILLIAM ALSUP

UNITED STATES DISTRICT JUDGE

Case 3:08-cv-01510-WHA Document 720 Filed 04/27/10 Page 2 of 2