City of Hollywood Firefighters' Pension System v. Wells Fargo & Company

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 CITY OF HOLLYWOOD FIREFIGHTERS' Case No. 23-cv-02445-JST PENSION SYSTEM, et al., 8 Plaintiffs, ORDER GRANTING MOTION TO INTERVENE AND STAY v. Re: ECF No. 127, 130, 131 WELLS FARGO & COMPANY, et al., 11 Defendants.

12 Before the Court is Timothy Himstreet and Montini Family Trust’s (collectively, “Proposed Intervenors” or “State Plaintiffs”) motion to intervene and stay or dismiss. ECF No. 127. The Court will grant the motion and stay the case. I. BACKGROUND This derivative shareholder action arises out of defendant Wells Fargo’s alleged “breaches of fiduciary duty in connection with their failure to comply with federal law, including explicit regulatory requirements established by federal regulators in multiple consent orders since 2018[.]” ECF No. 116 at 4. On January 2, 2024, City of Hollywood Firefighters’ Pension System (“City of Hollywood”) was selected as Lead Plaintiff in this action, ECF No.…