You're viewing Docket Item 42.1 from the case Doral Bank Puerto Rico v. Washington Mutual Asset Acceptance Corporation et al. View the full docket and case details.

Download this document:





The Honorable Marsha J. Pechman






UNITED STATES DISTRICT COURT

WESTERN DISTRICT OF WASHINGTON

AT SEATTLE


Case No.: 09-1557 (MJP)







[PROPOSED] ORDER APPOINTING
DORAL BANK LEAD PLAINTIFF
AND APPROVING ITS SELECTION
OF LEAD COUNSEL



























1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

v.

Plaintiff,

DORAL BANK PUERTO RICO, on Behalf of
Itself and All Others Similarly Situated,





WASHINGTON MUTUAL ASSET
ACCEPTANCE CORPORATION; DAVID
BECK; DIANE NOVAK; THOMAS
LEHMANN; STEPHEN FORTUNATO;
DONALD WILHELM WAMU CAPITAL
CORPORATION; MOODY’S INVESTORS
SERVICES, INC.; THE MCGRAW-HILL
COPMANIES, INC.; FIRST AMERICAN
CORPORATION and FIRST AMERICAN
EAPPRAISEIT, LLC,



Defendants.










[PROPOSED] ORDER APPOINTING DORAL
BANK LEAD PLAINTIFF
No. 09-cv-01557-MJP

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28




WHEREAS, putative class member, Doral Bank Puerto Rico (“Doral Bank”), has

moved, pursuant to §21D(a)(3) of the Securities Act of 1933, for appointment as lead plaintiff

and for approval of Cohen Milstein Sellers & Toll PLLC (“Cohen Milstein”) as lead counsel for

plaintiff and the Class, and good cause appearing therefore:

IT IS HEREBY ORDERED as follows:

1.

Doral Bank is the most adequate plaintiff and is appointed as lead plaintiff for the

Class in this action (and any subsequently consolidated or related actions) to represent the Class.

2.

Lead plaintiff’s selection of Cohen Milstein as lead counsel for the Class is

hereby approved. The law firm of Cohen Milstein are appointed as lead counsel pursuant to

§27(a)(3)(B)(v) of the Securities Act. The law firm Tousley Brain Stephens PLLC is appointed

as liaison counsel for the Class.

3.

At the direction of lead plaintiff, lead counsel shall have the authority to speak for

all plaintiffs and class members in all matters regarding the litigation including, but not limited

to, pre-trial proceedings, motion practice, trial and settlement, and shall make all work

assignments in such a manner as to facilitate the orderly and efficient prosecution of this

litigation an to avoid duplicative or unproductive effort. Additionally, lead counsel shall have

the following responsibilities:

(a)

(b)

to brief and argue motions;

to

initiate and conduct discovery,

including, without

limitation,

coordination of discovery with defendants’ counsel, the preparation of written

interrogatories, requests for admission, and requests for production of documents;

(c)

(d)

to direct and coordinate the examination of witnesses in depositions;

to act as spokesperson at pretrial conferences;


[PROPOSED] ORDER APPOINTING
DORAL BANK LEAD PLAINTIFF
No. C09-1557-MJP

1

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28



(e)

to call and chair meetings of plaintiffs’ counsel as appropriate or necessary

from time to time;

(f)

to initiate and conduct any settlement negotiations with counsel for

defendants;

(g)

to provide general coordination of the activities of plaintiffs’ counsel and

to delegate work responsibilities to selected counsel as may be required in such a manner

as to lead to the orderly and efficient prosecution of this litigation and to avoid

duplication or unproductive effort;

(h)

(i)

to consult with and employ experts;

to receive and review periodic time reports of all attorneys on behalf of

plaintiffs, to determine if the time is being spent appropriately and for the benefit of

plaintiffs, and to determine and distribute plaintiffs’ attorneys’ fees; and

(j)

to perform such other duties as may be expressly authorized by further

order of this Court.

4.

Lead counsel shall be responsible for coordinating all activities and appearances

on behalf of the Class and for disseminating notices and orders of this Court.

5.

No motion, application or request for discovery shall be served or filed, or other

pretrial proceedings initiated, on behalf of lead plaintiff, except through lead counsel.

6.

All notices, proposed orders, pleadings, motions, discovery, and memoranda

requiring a response in less than 30 days shall be served upon Lead Counsel and defense counsel

by the Court’s Electronic Case Filing (“ECF”) system, overnight mail service, telecopy, and/or

hand delivery.

7.

All other service shall take place by regular mail.


[PROPOSED] ORDER APPOINTING
DORAL BANK LEAD PLAINTIFF
No. C09-1557-MJP

2

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28



8.

Lead counsel for the Class shall be available and responsible for communications

to and from the Court.

9.

Defendants’ counsel may rely upon all agreements made with lead counsel, or

other duly authorized representatives of lead plaintiff.

10.

This Order shall apply to each case subsequently filed in this Court or transferred

to this Court, unless a party objecting to the consolidation of such case or to any other provision

of this Order files within ten (10) days after the date upon which a copy of this Order is mailed to

counsel for such party, an application for relief from this Order or any provision herein and this

Court deems it appropriate to grant such application.



IT IS SO ORDERED.









_______________________________
UNITED STATES DISTRICT JUDGE
Hon. Marsha J. Pechman















DATED this ____ day of March, 2010.







Presented by:

/s// Christopher Lometti
Christopher Lometti (pro hac vice)
COHEN MILSTEIN SELLERS & TOLL PLLC
150 East 52nd Street, 30th Floor
New York, NY 10022
Tel: 212-838-7797
Fax: 212-838-7745
[email protected]

/s/ Nancy A. Pacharzina_____
Nancy A. Pacharzina, WSBA# 25946
Kim D. Stephens, WSBA #11984
TOUSLEY BRAIN STEPHENS PLLC
1700 Seventh Avenue, Suite 2200

[PROPOSED] ORDER APPOINTING
DORAL BANK LEAD PLAINTIFF
No. C09-1557-MJP

3

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28



Seattle, WA 98101
Tel: 206-682-5600
Fax: 206-682-2992
[email protected]
[email protected]




[PROPOSED] ORDER APPOINTING
DORAL BANK LEAD PLAINTIFF
No. C09-1557-MJP

4