Free Order on Motion for Partial Summary Judgment - District Court of Delaware - Delaware

* Case 1:07-cv-00372-SLR Document 35 Filed 01/31/2008 Page 1 of 3
Case 1:07-cv-00372-***-l\/IPT Document 30-2 Filed 01/30/2008 Page 1 of 3
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE
INTERNATIONAL BROTHERHOOD OF )
ELECTRICAL WORKERS LOCAL 98 )
PENSION FUND, )
)
Plaintiff, )
) C.A. No. 07-372-***
ANGELO R. MOZILO, HENRY G. )
CISNEROS, ROBERT L. DONATO, )
HARLEY W. SNYDER, JEFFREY M. )
CUNNINGHAM, MARTIN R. MELONE, )
ROBERT T. PARRY, OSCAR P. )
ROBERTSON, KEITH P. RUSSELL, )
MICHAEL E. DOUGHERTY, and )
COUNTRYWIDE FINANCIAL )
CORPORATION, )
)
Defendants. )
‘ )
ADAM BLUMBERG, )
)
Plaintiff, )
) C.A. No. 07-717-***
v. )
)
NGELO R. MOZILO, HENRY G. )
CISNEROS, ROBERT L. DONATO, )
HARLEY W. SNYDER, JEFFREY M. )
CUNNINGHAM, MARTIN R. MELONE, )
ROBERT T. PARRY, OSCAR P. )
ROBERTSON, KEITH P. RUSSELL, )
MICHAEL E. DOUGHERTY, DAVID )
SAMBOL, KATHLEEN BROWN and )
COUNTRYWIDE FINANCIAL )
CORPORATION, )
)
Defendants. )
|PROPOSED| ORDER
WHEREAS on January 15, 2008, plaintiffs in the above-entitled actions filed a motion
for partial summary judgment ("M0tion for Partial Summary Judgment");
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~ Case 1:07-cv-00372-SLR Document 35 Filed O1/31/2008 Page 2 of 3
Case 1:07-cv-00372-***-l\/IPT Document 30-2 Filed 01/30/2008 Page 2 of 3
WHEREAS, on January 18, 2008, defendants Countrywide Financial Corporation
("Countrywide") Angelo R. Mozilo, Hemy G. Cisneros, Robert L. Donato, Harley W. Snyder,
Jeffrey M. Cunningham, Martin R. Melone, Robert T. Parry, Oscar P. Robertson, Keith P.
Russell and David Sambol filed an emergency motion to stay the motion for partial summary
judgment ("Motion to Stay");
WHEREAS defendants Michael Dougherty and Kathleen Brown joined in the Motion to
Stay;
WHEREAS plaintiffs on January 22, 2008 filed an opposition to the Motion to Stay; and
WHEREAS on January 24, 2008, the Court heard argument from counsel for the parties
on the Motion to Stay;
NOW THEREFORE having considered the written submissions and oral argument of the
parties, and for good cause shown, IT 1S HEREBY ORDERED AS FOLLOWS:
1. Plaintiffs’ Motion for Partial Summary Judgment is denied as premature, with
leave to re-file if and when appropriate. The Court notes, among other things, that it has not yet
determined if subject matter jurisdiction exists over the claims at issue, mindful of Defendants’
stated intention to move to dismiss these actions on the grounds that plaintiffs did not make
demand on the Countrywide board of directors prior to tiling these cases. The Court also notes
that it appears discovery would be appropriate in these actions prior to the consideration and
disposition of any motion for summary judgment.
2. Plaintiffs shall file a consolidated amended complaint on or before February 13,
2008.
3. Defendants shall move, answer or otherwise respond to the consolidated amended
complaint on or before February 27, 2008.
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RLFI-3248393-l

Case 1:07-cv-00372-SLR Document 35 Filed 01/31/2008 Page 3 of 3
Case ‘l:O7—cv—OO372-***—l\/IPT Document 30-2 Filed O1/30/2008 Page 3 of 3
4. Defendants shall file any motions to transfer venue on or before February 27,
2008.
5. In the event that defendants file any motions to dismiss or motions to transfer
venue, plaintiffs shall file any opposition briefs on or before March 12, 2008, and defendants
shall file any reply briefs on or before March 26, 2008.
6. The parties shall confer regarding the timing of any discovery.
SO ORDERED this day of LZ_?0ll% , 2008.
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' norable Ma if Thynge
• States Magistrate Judge
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