Case :-cv-0-gpc-ksc Document Filed 0/0/ Page of 0 0 ANDREW CALCATERRA, derivatively on behalf of BOFI HOLDING, INC., UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF CALIFORNIA and BOFI HOLDING, INC., a Delaware corporation, Plaintiff, vs. GREGORY GARRABRANTS, et al., Defendants, Nominal Defendant. [Caption continues on following page.] Case No. cv GPC (KSC ORDER: GRANTING PLAINTIFFS MOTION TO CONSOLIDATE CASES AND APPROVE SELECTION OF LEAD COUNSEL DENYING DEFENDANTS MOTION TO DISMISS DENYING PLAINTIFFS MOTION TO STRIKE DEFENDANTS MOTION TO DISMISS [ECF Nos.,, ] cv GPC (KSC
Case :-cv-0-gpc-ksc Document Filed 0/0/ Page of 0 0 ZHANG YONG, derivatively on behalf of BOFI HOLDING, INC., and BOFI HOLDING, INC., a Delaware corporation, Plaintiff, vs. GREGORY GARRABRANTS, et al., Defendants, Nominal Defendant. LABORERS PENSION TRUST FUND OF NORTHERN NEVADA, derivatively on behalf of BOFI HOLDING, INC., and BOFI HOLDING, INC., a Delaware corporation, Plaintiff, vs. GREGORY GARRABRANTS, et al., Defendants, Nominal Defendant. Case No. cv0 GPC (KSC Case No. cv0 GPC (KSC cv GPC (KSC
Case :-cv-0-gpc-ksc Document Filed 0/0/ Page of 0 0 Before the Court is Plaintiffs Andrew Calcaterra, Zhang Yong, and Laborers Pension Trust Fund of Northern Nevada s ( Plaintiffs motion to consolidate the three cases above, to appoint a lead plaintiff, and to approve of selection of lead counsel. Pl. Mot., Calcaterra v. Garrabrants, No. :-cv-0-gpc-ksc, ECF No.. The motion is not opposed by Defendants. ECF No. 0. I. Consolidation Fed. R. Civ. P. Rule (a states that [i]f actions before the court involve a common question of law or fact, the court may: ( join for hearing or trial any or all matters at issue in the actions; ( consolidate the actions; or ( issue any other orders to avoid unnecessary cost or delay. To determine whether to consolidate, a court weighs the interest of judicial convenience against the potential for delay, confusion and prejudice caused by consolidation. In re Oreck Corp. Halo Vacuum & Air Purifiers Mktg. & Sales Practices Litig., F.R.D., 0 (C.D. Cal. 0 (citing Southwest Marine, Inc. v. Triple A Mach. Shop, Inc., 0 F. Supp. 0, 0 (N.D. Cal. ; Huene v. United States, F.d 0, 0, on reh g, F.d 0 (th Cir.. A district court has broad discretion in determining whether or not to consolidate actions. See id.; see also Zhu v. UCBH Holdings, Inc., F. Supp. d 0, 0 (N.D. Cal. 00 (citing Southwest Marine, 0 F. Supp. at 0 0. Upon review of the moving papers, the record, and the applicable law, the Court GRANTS parties joint motions to consolidate. Review of the operative complaints show that these cases are shareholder derivative actions brought by respective Plaintiffs against the same Defendants, concerning the same alleged breaches of fiduciary duty committed by Defendants in relation to BofI Federal Bank s banking activities across the same time period, with substantially similar factual allegations, causes of action, and requested relief. Compare Calcaterra Compl., No. :-cv-0-gpc-ksc, ECF No., with Yong Compl., No. :-cv- cv GPC (KSC
Case :-cv-0-gpc-ksc Document Filed 0/0/ Page of 0 0 00-GPC-KSC, ECF No., and Laborers Compl., No. :-cv-00-gpc-ksc, ECF No.. II. Approval of Selection of Lead Counsel Appointment of lead counsel in consolidated actions is particularly warranted because it permits efficient utilization of the Court s and parties resources and helps eliminate any duplication. See, e.g., MacAlister v. Guterma, F.d, (d Cir. ( The benefits achieved by consolidation and the appointment of general counsel, i.e., elimination of duplication and repetition and in effect the creation of a coordinator of diffuse plaintiffs through whom motions and discovery proceedings will be channeled, will most certainly redound to the benefit of all parties to the litigation. ; Dollens v. Zionts, Nos. 0 C et al., 00 U.S. Dist. LEXIS, at * (N.D. Ill. Dec., 00 (granting plaintiffs motion to consolidate and appointing co-lead plaintiffs as well as colead and liaison counsel; see also Sparano v. Lief, No. 0CV0 BTM BLM, 0 WL 00, at * (S.D. Cal. Mar., 0. The decision to establish a leadership structure is within the broad discretion of the trial court. See Manual for Complex Litigation (Fourth 0. (0. Plaintiffs ask the Court to approve their selection of Bottini & Bottini, Inc. as lead counsel. It appears that Bottini & Bottini has substantial experience litigating shareholder derivative actions and has obtained substantial recoveries for a number of clients in such actions. See Bottini Decl., Ex. D, ECF No. -. In light of the firm s substantial experience in shareholder derivative actions, the Court APPROVES Plaintiffs choice of counsel and APPOINTS Bottini & Bottini, Inc. as Lead Counsel. CONCLUSION Accordingly, IT IS HEREBY ORDERED that:. Pursuant to Federal Rule of Civil Procedure (a(, the Court hereby consolidates the above-captioned actions for all purposes under the low numbered cv GPC (KSC
Case :-cv-0-gpc-ksc Document Filed 0/0/ Page of 0 0 case, Case No. :-CV-0-GPC-KSC, and orders that the caption of the action be amended as follows: IN RE: BofI HOLDING, INC. SHAREHOLDER LITIGATION Case No. :-CV-0-GPC-KSC Hon. Gonzalo P. Curiel. The Court GRANTS Plaintiffs motion for approval of selection of lead counsel. The Court APPOINTS Bottini & Bottini as Lead Counsel in the consolidated action.. No defendant shall be required to answer, move against or otherwise respond to the original Complaint filed in any of the above-captioned actions, except as set forth below.. Within fourteen ( days after the entry of this Order, counsel for the plaintiffs and counsel for the defendants shall meet and confer regarding proposals for (a the time for plaintiffs to file a consolidated amended complaint or provide notice of plaintiffs intent to rely upon the original Complaint in Case No. :-CV- 0-GPC-KSC [ECF No. ] (the operative complaint ; (b the time for defendants to respond to the operative complaint; and (c a schedule for briefing any motion to dismiss that may be filed by a defendant. Parties are directed to submit their proposed schedule to the Court within seven ( days following the meet and confer.. Defendants motion to dismiss, ECF No., and Plaintiff Calcaterra s ex parte motion to strike Defendants motion to dismiss, ECF No., are DENIED as moot. IT IS SO ORDERED. cv GPC (KSC
Case :-cv-0-gpc-ksc Document Filed 0/0/ Page of 0 0 Dated: June, 0 cv GPC (KSC