Judge Robert Sweet
Wang's 2011 complaint alleging securities laws violations arising from losses when Bear Stearns collapsed in 2008—filed in California's Central District—was coordinated with In re Bear Stearns Securities Litigation (Securities Action). A June 6, 2011, case management order governed discovery for all consolidated or coordinated actions, and stated that all discovery obtained in the Securities Action, consolidated actions, or coordinated actions was deemed discovery in all actions. The Securities Action was settled on Nov. 29, 2012. District court denied Wang's motion for suggesting to the Judicial Panel on Multidistrict Litigation that her case be remanded to the Central District of California. Pretrial proceedings have not been completed in actions consolidated or coordinated with the Securities Action, and significant pretrial proceedings remain for plaintiffs choosing to opt-out of the settlement class. Further, the Panel had previously rejected Wang's assertion that her complaint alleged unique claims under California's securities laws, requiring unique discovery. Also, the court had already acquired significant familiarity with the complex issues relevant to the Securities Action and to the opt-out actions, including Wang's.
