Hart L. Robinovitch, AZ Bar No. 020910
2 ZIMMERMAN REED P.L.L.P.
14646 N. Kierland Boulevard, Suite 145
3 Scottsdale, AZ 85254
Telephone: 480.348.6400
4 Email: [email protected]
5 Timothy J. Becker (admitted Pro Hao Vice)
Carolyn G. Anderson (admitted Pro Hac Vice)
6 Anne T. Regan (ggnitted Pro Hac Vice)
ZIMME N ED P.L.L.P.
7 651 Nicollet Mall, Suite 501
Minneapolis, Minnesota 55402
8 Telephone: 612.341.0400
9 Email: 1]·b@Z111I11II€€d.CO11l
Richard A. Lockridge (admitted Pro Hac Vice)
10 Gregg M. Fishbein (admitted Pro Hac Vice)
Mag E. Briedé (admitted Pro Hac Vice)
1 1 LO KRIDGE GRINDAL NAUEN, P.L.L.P.
100 Washington Avenue South, Suite 2200
12 Minneapolis, Minnesota 55401
Telephone: 612.339.6900
13 Email: [email protected]
14 Attorneys for PZaim‘#s and the Putative Class
15 UNITED STATES DISTRICT COURT
16 DISTRICT OF ARIZONA
17 John Haritos, David and Emily Austin, Case No.: 02-2255 PHX—PGR
Michael Tooley, and Omar Shahine, On
18 Behalf of Themselves and All Others (Assigned to the Honorable
19 Similarly Situated, Paul . Rosenblatt)
20 Plaintiffs,
21 v. i
American Express Financial
22 Advisors, Inc., aka Ameriprise Financial,
Inc.,
23
24 [Additional Counsel below]
25
26
27
28
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Case 2:O2—cv—O2255—PGR Document 178 Filed O2/28/2006 Page 1 of 4
1 William J. Maledon, Esq. (No. 3670)
7 OSBORN MALEDON PA
' 2929 North Central Avenue (Suite 2100)
3 Phoenix, Arizona 85012-2794
4 Telephone: 602.640.9331
Facsimile: 602.640.6079
5
Peter K. Vigeland (pro hac vice)
6 David W. Bowker (pro hac vice)
7 WILMER CUTLER PICKERING HALE AND DORR LLP
399 Park Avenue
8 New York, New York 10022
9 Telephone: 212.230.8800
IO Facsimile: 212.230.8888
1 1 Attorneys for Dej%ndcznt
12 Jo1Nr smrus Rnronr
13
14 Pursuant to the Court’s January 3, 2006 Order, Defendant American Express
Financial Advisors, Inc. ("AEFA") (now Ameriprise Financial) and Plaintiffs J ohi
15
16 1-laritos, David Austin, Emily Austin, Omar Shahine and Michael Tooley ("Plaintiffs")
respectfully submit this Joint Status Report to inform the court of the status of th
17
proposed settlement in a related putative class action in the Southern District of Ne
18
York, entitled In Re American Express F inonciol Advisors, Case No. 04-CV- 1773 (DAB)
19
("In re AEFA").
20
21 A. Case Background
22 As this Court is aware, the parties in In re AEFA, signed a Memorandum o
23 Understanding on October 21, 2005, setting forth a settlement agreement in principal.
24 AEFA believes that any settlement will have the effect of mooting the putative class
25 action pending before this Court; Plaintiffs take no position on mootness at this time. In
26 light of this pending settlement, on December 23, 2005, the parties to the instant action
27 filed a stipulation to stay the proceedings before this Court. The Court entered an order
28 on January 3, 2006, accepting that stay, but requested that the parties file this joint status
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Case 2:O2—cv—O2255—PGR Document 178 Filed O2/28/2006 Page 2 of 4
l report "if no ruling has been made by [February 28, 2006] concerning the proposed
2 settlement in In re AEFA Securities Litigation? Jan. 6, 2006 Order at 2.
3 B. Status of the In Re AEFA Settlement Proceedings
4
5 The parties in In re AEFA are currently engaging in confirmatory discovery to
6 confirm the fairness and reasonableness of the terms of the proposed settlement. As par
7 of the discovery process, Defendants have produced approximately 480,000 pages o
8 documents to the plaintiffs, and the plaintiffs have noticed and will be taking, in March
9 and April 2006, the depositions of l2 employees of the Defendant entities. ln addition,
10 Defendant AEFA has spent considerable time and energy collecting data that will allow
U plaintiffs to create a fair plan of allocation of settlement proceeds between the differin_
17 subsets of class members. The parties expect that such confirmatory discovery will be
13 complete by the end of April 2006.
14 The parties in In re AEFA have also drafted a preliminary stipulation of settlemen
15 that will be submitted to Judge Deborah Batts in the Southern District of New York
16 following the completion of confirmatory discovery. The parties anticipate filing tha
17 stipulation with the Court in April 2006, and will, at that time, provide notice of th
18 pending settlement to members of the proposed class.
19 February 28, 2006 Respectfully submitted,
20
ZIMMERMAN REED, P.L.L.P.
2l
72 s/ Carolyn G. Anderson
T Carolyn G. Anderson (Pro Hao Vice)
23 Timothy J. Becker (Pro Hac Vice)
74 Anne T. Regan (Pro I-Iac Vice)
“ 651 Nicollet Mall, Suite 50l
2 5 Minneapolis, Minnesota 55402
26 Telephone: 6l2.34l.0400
Facsimile: 612.34].0844
27 Email: [email protected]
7 Email; [email protected]
“8 Email: [email protected]
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Case 2:O2—cv—O2255—PGR Document 178 Filed O2/28/2006 Page 3 of 4
1 ZIMMERMAN REED, P.L.L.P.
7 Barry G. Reed, AZ Bar N0. 020906
“ Hart L. R0bin0vitc1i, AZ Bar N0. 020910
3 14646 N. Kierland Bculevard, Suite 145
4 Scettsdale, AZ 85254
Teleplicne: 480.348.6400
5 r Facsimile: 480.348.6415
6 Email: [email protected]
Email: [email protected]
7
3 LOCKRIDGE GRINDAL NAUEN,
P.L.L.P.
9 Richard A. Leckridge (Pr0 I-lac Vice)
IO Gregg M. Fislibein (Pr0 Hac Vice)
100 Wasliingtcn Avenue Scuth, Suite 2200
11 Minneapelis, Minnescta 55401
12 Telephcnez 612.339.6900
Email: ra10c1
14 Atterneysfor the PZc1i11t%* and the Putcztive
15 Class
16
17 OSBORN MALEDON, P.A.
18 s/ William J. Maledcn
William J. Maledcn, Atty. N0. 003670
19 2929 N0rtli Central Avenue #2100
20 Plieenix, Ariz0na 85012-2794
Telepliene: 602.640.9000
21
22 WILMER CUTLER PICKERIN G HALE
and DORR LLP
23 Peter K. Vigeland (Admitted Pr0 Hac Vice)
74 David Bcwker (Admitted Pr0 Hac Vice)
" 399 Park Avenue
25 Nevv Y0rl<, New Y0rl< 10022
26 Teleplienez 2l2.230.8800
27 Attorneys for Defendcmt
28
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