Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_08-cv-01994/USCOURTS-cand-3_08-cv-01994-3/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

MIKE LABINS, on behalf of himself and all

others similarly situated,

Plaintiff,

 v.

CHARLES SCHWAB CORPORATION,

CHARLES SCHWAB & CO. INC.,

CHARLES SCHWAB INVESTMENT

MANAGEMENT, INC., CHARLES R.

SCHWAB, EVELYN DILSAVER,

RANDALL W. MERK and GEORGE

PEREIRA,

Defendants. /

GERRY HAGEMAN, on behalf of himself and

all others similarly situated,

Plaintiff,

 v.

CHARLES SCHWAB CORPORATION,

CHARLES SCHWAB & CO. INC.,

CHARLES SCHWAB INVESTMENT

MANAGEMENT, INC., CHARLES R.

SCHWAB, EVELYN DILSAVER,

RANDALL W. MERK and GEORGE

PEREIRA,

Defendants. /

No. C 08-01510 WHA

No. C 08-01733 WHA

No. C 08-01936 WHA

No. C 08-01994 WHA

No. C 08-02058 WHA

No. C 08-02487 WHA

ORDER CONSOLIDATING

ACTIONS AND REQUESTING

INFORMATION FROM LEAD

PLAINTIFF CANDIDATES

Case 3:08-cv-01994-WHA Document 18 Filed 06/11/08 Page 1 of 4
United States District Court

For the Northern District of California

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W. MERRILL GLASGOW, on behalf of

himself and all others similarly situated,

Plaintiff,

 v.

CHARLES SCHWAB CORPORATION,

CHARLES SCHWAB & CO. INC.,

CHARLES SCHWAB INVESTMENT

MANAGEMENT, INC., CHARLES R.

SCHWAB, EVELYN DILSAVER,

RANDALL W. MERK and GEORGE

PEREIRA,

Defendants. /

NILS FLANZRAICH and JILL

FLANZRAICH, on behalf of himself and all

others similarly situated,

Plaintiff,

 v.

CHARLES SCHWAB CORPORATION,

CHARLES SCHWAB & CO. INC.,

CHARLES SCHWAB INVESTMENT

MANAGEMENT, INC., CHARLES R.

SCHWAB, SCHWAB INVESTMENTS;

SCHWAB YIELDPLUS FUND SELECT

SHARES; EVELYN DILSAVER; RANDALL

W. MERK, and GEORGE PEREIRA,

Defendants. /

Case 3:08-cv-01994-WHA Document 18 Filed 06/11/08 Page 2 of 4
United States District Court

For the Northern District of California

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VINAYAK R. PAI DEFINED BENEFITS

PENSION PLAN, on behalf of himself and all

others similarly situated,

Plaintiff,

 v.

CHARLES SCHWAB CORPORATION,

CHARLES SCHWAB & CO. INC.,

CHARLES SCHWAB INVESTMENT

MANAGEMENT, INC., SCHWAB

INVESTMENTS, CHARLES R. SCHWAB,

EVELYN DILSAVER, RANDALL W.

MERK, GREGORY HAND, GEORGE

PEREIRA, DONALD F. DOWARD,

MARIANN BYERWALTER, WILLIAM A.

HASLER, ROBERT G. HOLMES, GERALD

B. SMITH, DONALD R. STEPHENS,

MICHAEL W. WILSEY, and JEFF LYONS,

Defendants. / 

ROBERT LEVINS and KARL KYZER, on

behalf of himself and all others similarly

situated,

Plaintiffs,

 v.

CHARLES SCHWAB CORPORATION,

CHARLES SCHWAB & CO. INC.,

CHARLES SCHWAB INVESTMENT

MANAGEMENT, INC., CHARLES R.

SCHWAB, EVELYN DILSAVER,

RANDALL W. MERK, MARIANN

BYERWALTER, DONALD F. DORWARD,

WILLIAM A. HASLER, ROBERT G.

HOLMES, GERALD B. SMITH, DONALD R.

STEPHENS, and MICHAEL W. WILSEY,

Defendants. /

Many parties have moved to consolidate the above-entitled related civil actions. No

opposition having been received, this order hereby CONSOLIDATES the actions for all purposes,

pursuant to FRCP 42(a). The caption of these consolidated cases shall be “In re Charles

Schwab Corp. Securities Litigation,” and the files of this action shall be maintained in one file

Case 3:08-cv-01994-WHA Document 18 Filed 06/11/08 Page 3 of 4
United States District Court

For the Northern District of California

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under Master File No. C 08-01510 WHA. Any other actions now pending or hereafter filed in

this district which arise out of the same facts and claims as alleged in these related actions shall

be consolidated for all purposes, if and when they are brought before this Court and the Court

accepts the transfer and approves consolidation.

The motions to appoint lead plaintiff and lead counsel are currently set for Wednesday,

July 2, 2008. As opposed to “group” candidates, the Court wishes to evaluate the qualifications

of single investors, either institutional investors or individuals, to serve as lead plaintiff. See In

re Network Assocs., Inc., Sec. Litig., 76 F. Supp. 2d 1017, 1019–27 (N.D. Cal. 1999) (Alsup, J.). 

The Court is particularly interested in considering single investors with large losses and in

evaluating their experience in managing litigation. Any “group” of movants must narrow its

candidates to one or two single investors and file answers to the appended questionnaire by

WEDNESDAY, JUNE 25, 2008, including the certification called for therein. 

Each candidate must attend the hearing on July 2, 2008, and be prepared to answer

questions. They should also be prepared to critique the methodology used by competing

candidates. The Court would also appreciate defense counsel to attend the hearing on lead

plaintiff selection. Defense counsel should be prepared to address the accuracy of the

methodology used by candidates to assess their damage claims. 

All questionnaires and other submissions shall be served both by facsimile and by mail

on all counsel named on the Court’s appended service list. Counsel are responsible for

contacting each other and obtaining the correct facsimile number. Applications for class

counsel shall be deferred until after the lead plaintiff has been appointed. 

IT IS SO ORDERED.

Dated: June 11, 2008. 

WILLIAM ALSUP

UNITED STATES DISTRICT JUDGE

Case 3:08-cv-01994-WHA Document 18 Filed 06/11/08 Page 4 of 4