Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_08-cv-01962/USCOURTS-cand-3_08-cv-01962-2/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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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

LINDELL VAN DYKE, et al.

Plaintiffs,

 v.

WELLS FARGO AND CO., et al.

Defendants.

 /

No. 08-01962 JSW

ORDER VACATING ORDER

GRANTING PLAINTIFFS’

MOTION FOR APPOINTMENT

AS LEAD PLAINTIFF AND

APPROVING LEAD PLAINTIFFS’

SELECTION OF LEAD COUNSEL

On August 6, 2008, this Court issued an Order granting Plaintiffs uncontested Motion

for Appointment as Lead Plaintiff and Approving Lead Plaintiffs’ Selection of Lead Counsel. 

Upon review of the parties’ stipulation regarding the resetting of deadlines and the case

management conference in this action, it has come to the Court’s attention that this action is the

subject of a pending Motion to Transfer for Coordination before the Judicial Panel on MultiDistrict Litigation with respect to In re Auction Rate Securities Litigation (ARS) Marketing

Litigation, MDL No. 1979. 

“If more than one action on behalf of a class asserting substantially the same claim or

claims arising under this chapter has been filed, and any party has sought to consolidate those

actions for pretrial purposes or for trial, the court shall not make the determination required by

clause (i) until after the decision on the motion to consolidate is rendered.” 15 U.S.C. § 78u4(a)(B)(3)(ii) (emphasis added). 

//

Case 3:08-cv-01962-JSW Document 23 Filed 08/07/08 Page 1 of 2
United States District Court

For the Northern District of California

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In light of the pending motion to transfer this matter to the pending MDL proceeding,

and given the requirements of 15 U.S.C. § 78u-4(a)(B)(3)(ii), the Court’s Order granting

Plaintiffs’ motion for appointment of lead counsel is VACATED pending a ruling on the motion

to transfer or pending a further showing from Plaintiffs that this Court has the authority to rule

on their motion before a decision is rendered in the MDL proceedings. 

IT IS SO ORDERED.

Dated: August 7, 2008 

JEFFREY S. WHITE

UNITED STATES DISTRICT JUDGE

Case 3:08-cv-01962-JSW Document 23 Filed 08/07/08 Page 2 of 2