Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_05-cv-04518/USCOURTS-cand-3_05-cv-04518-9/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 28:1331 Fed. Question: Securities Violation

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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

RONALD SIEMERS, individually and on

behalf of all others similarly situated,

Plaintiff,

 v.

WELLS FARGO & CO.; WELLS FARGO

FUNDS MANAGEMENT, LLC; WELLS

CAPITAL MANAGEMENT, INC.; H.D.

VEST INVESTMENT SERVICES; WELLS

FARGO INVESTMENTS, LLC; STEPHENS,

INC.; SEI INVESTMENTS DISTRIBUTION

CO.; WELLS FARGO FUNDS TRUST,

Defendants. /

No. C 05-04518 WHA

ORDER RE LEAD COUNSEL

On May 18, 2006, Milberg Weiss Bershad & Schulman LLP and two of its partners,

David J. Bershad and Steven G. Schulman, were indicted for alleged crimes committed in their

representation of plaintiffs in cases similar to this one. First Superceding Indictment, United

States v. Milberg Weiss Bershad & Schulman LLP, CR 05-587(A)-CAS (C.D. Cal. May 18,

2006). Mr. Schulman is admitted pro hac vice to represent lead plaintiff Ronald Siemers in this

very action (Order Granting Application for Admission of Steven G. Schulman Pro Hac Vice,

Jan. 31, 2006). Since the indictment, other lead plaintiffs elsewhere in America have moved to

have Milberg Weiss replaced as lead counsel. US judge deals Milberg a blow in Medtronic

case, Reuters, June 7, 2006, available at http://today.reuters.com/. 

Case 3:05-cv-04518-WHA Document 98 Filed 06/08/06 Page 1 of 2
United States District Court

For the Northern District of California

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Lead plaintiff in this action is ORDERED TO CONSULT with a lawyer not affiliated with

Milberg Weiss Bershad & Schulman LLP about whether he and the putative class should

continue to be represented by Milberg Weiss and by Mr. Schulman. Lead plaintiff serves as a

fiduciary for the putative class. With that responsibility in mind, he also must conduct other

necessary due diligence to determine if representation by Mr. Schulman and Milberg Weiss is in

his best interest and in the best interest of the putative class, including to consult with

independent counsel. 

After such review, lead plaintiff is ORDERED TO NOTIFY THE COURT BY NOON,

FRIDAY, JUNE 23, 2006, either on his own or through counsel not affiliated with Milberg Weiss,

whether he believes that lead counsel ought to be replaced. 

Lead counsel is ORDERED to give this order to lead plaintiff immediately, and to advise

the Court if Mr. Schulman is still representing lead plaintiff. 

IT IS SO ORDERED.

Dated: June 8, 2006 

WILLIAM ALSUP

UNITED STATES DISTRICT JUDGE

Case 3:05-cv-04518-WHA Document 98 Filed 06/08/06 Page 2 of 2