Date: 08-11-2013

Case Style: Blue Cross Blue Shield of Minnesota et al v. Wells Fargo Bank, N.A.

Case Number: 0:11-cv-02529-DWF-JJG

Judge:

Court: United States District Court for the District of Minnesota (Ramsey County)

Plaintiff's Attorney: Michael V Ciresi, Thomas L Hamlin, Mathew R Korte, Munir R Meghjee, Vincent J Moccio, Stephen F Simon, Brock J Specht, Roberta B Walburn

Defendant's Attorney: Manuel F Cachan, Michael R Cashman, Erin J Cox, Lindsey A Davis, Richard M Hagstrom, Lawrence T Hofmann, Michael E Jacobs, Justin H Jenkins, William A McNab, Daniel J Millea, Brooks F Poley, James S Reece, Bradley R Schneider, John N Sellner, Bart H Williams, Rory D Zamansky

Description: Blue Cross Blue Shield of Minnesota and others sued Wells Fargo & Company on a securities law violation and fraud theories claiming that they suffered financial losses as a result of mismanagement of a securities lending program. The Plaintiffs claimed that the bank put its own interest instead of the nonprofit investors and wasn't honest about how risky the program was.

Wells Fargo denied wrongdoing and claimed that the unit had a good track record until the financial crisis hit in 2008.

Court minutes from July 15, 2013 to August 9, 2013:

07/15/2013 513 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 7/15/2013. Plaintiffs' witness Robert Smith; trial to resume on Wednesday, July 17, 2013. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) (Entered: 07/16/2013)

07/17/2013 517 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 7/17/2013. Plaintiffs' witnesses Robert Smith, Lucinda Hruska-Claeys. Trial continued to 7/18/2013. (Court Reporter Jeanne Anderson) (BJS) (Entered: 07/19/2013)

07/18/2013 514 STIPULATION Regarding Admission of Documents Into Evidence by Administrative Committee of the Joint Hospitals Pension Board, Blue Cross Blue Shield of Minnesota, CentraCare Health System, Jerome Foundation, Meijer, Inc., Nebraska Methodist Health System, Inc., North Memorial Health Care, Supplemental Benefit Committee of the International Truck and Engine Corp. Retiree Supplemental Benefit Trust, The Board of Trustees of the Chicago Area Joint Welfare Committee for the Pointing, Cleaning and Caulking Industry Local 52, The Board of Trustees of the Tuckpointers Local 52 Pension Trust Fund, The El Paso County Retirement Plan, The Order of Saint Benedict, The Twin City Hospitals-Minnesota Nurses Association Pension Plan Committee, Wells Fargo Bank, N.A.. (Attachments: # 1 Exhibit(s) A)(Moccio, Vincent) (Entered: 07/18/2013)

07/18/2013 515 CERTIFICATE OF SERVICE ON PROPOSED ORDER by Administrative Committee of the Joint Hospitals Pension Board, Blue Cross Blue Shield of Minnesota, CentraCare Health System, Jerome Foundation, Meijer, Inc., Nebraska Methodist Health System, Inc., North Memorial Health Care, Supplemental Benefit Committee of the International Truck and Engine Corp. Retiree Supplemental Benefit Trust, The Board of Trustees of the Chicago Area Joint Welfare Committee for the Pointing, Cleaning and Caulking Industry Local 52, The Board of Trustees of the Tuckpointers Local 52 Pension Trust Fund, The El Paso County Retirement Plan, The Order of Saint Benedict, The Twin City Hospitals-Minnesota Nurses Association Pension Plan Committee re 514 Stipulation,,, Regarding Admission of Documents Into Evidence (Moccio, Vincent) (Entered: 07/18/2013)

07/18/2013 516 ORDER ON STIPULATION REGARDING ADMISSION OF DOCUMENTS INTO EVIDENCE.1. Exhibits listed on Exhibit A to the parties' Stipulation Regarding Admission of Documents Into Evidence, dated July 18, 2013, are admissible and hereby admitted into evidence. 2. The information contained on Exhibit A is for identification purposes only and shall not be interpreted as being a binding description or characterization of any Trial Exhibit or the grounds for admission of any Trial Exhibit. 3. Exhibit A is not intended to be an exhaustive list of the trial exhibits prepared by Defendant and sent or presented to a Plaintiff by Defendant. Nothing herein shall be deemed as a waiver of either party's right to offer into evidence additional trial exhibits of the type listed on Exhibit A, or a waiver of either party's right to object to such additional exhibits. Signed by Judge Donovan W. Frank on 7/18/2013. (BJS) (Entered: 07/18/2013)

07/18/2013 518 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 7/18/2013. Plaintiffs' witness Lucinda Hruska-Claeys. Trial continued to 7/22/2013 at 9:00 a.m. (Court Reporter Jeanne Anderson/Timothy Willette) (BJS) (Entered: 07/19/2013)

07/22/2013 519 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 7/22/2013. Plaintiffs' witnesses: Lucinda Hruska-Claeys, Videotaped Deposition of Kirk Hartman, Michael Hogan. Trial to continue 7/23/2013. (Court Reporter Jeanne Anderson/Kristine Mousseau) (BJS) (Entered: 07/23/2013)

07/23/2013 520 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 7/23/2013. Plaintiffs' witness Michael Hogan. Trial to resume on 7/24/2013. (Court Reporter Jeanne Anderson/Timothy Willette) (BJS) (Entered: 07/24/2013)

07/24/2013 521 SECOND ORDER REGARDING DEPOSITION DESIGNATIONS OF JOHN G. STUMPF. 1. Except to the extent modified herein or stipulated to by the parties, the Court adopts its rulings in its July 11, 2013 Order, (Doc. No. 511 ). 2. The Court makes the following rulings on the Plaintiffs' request for designations or redesignations: (see Order for additional information). Signed by Judge Donovan W. Frank on 7/24/2013. (BJS) (Entered: 07/24/2013)

07/24/2013 522 SECOND ORDER REGARDING DEPOSITION DESIGNATIONS OF RICHARD M. KOVACEVICH. 1. Except to the extent modified herein or stipulated to by the parties, the Court adopts its rulings in its July 11, 2013 Order, (Doc. No. 510 ). 2. The Court makes the following rulings on the Plaintiffs' request for designations or redesignations: (see Order for additional information). Signed by Judge Donovan W. Frank on 7/24/2013. (BJS) (Entered: 07/24/2013)

07/24/2013 523 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 7/24/2013. Plaintiffs' witnesses: Michael Hogan, Cynthia Gehrig. Trial continued to 7/25/2013. (Court Reporter Jeanne Anderson/Kristine Mousseau) (BJS) (Entered: 07/25/2013)

07/25/2013 524 ORDER. Cynthia Gehrig is ordered to appear before the Court on Thursday, July 25, 2013 at 9 a.m. to continue her trial testimony. Signed by Judge Donovan W. Frank on 7/24/2013. (BJS) (Entered: 07/25/2013)

07/25/2013 525 ORDER REGARDING DEPOSITION DESIGNATIONS OF JANICE M. JANSKY. 1. Absent stipulation of the parties, the Court makes the rulings as listed on Exhibit A, attached hereto, with respect to the designations and objections relating to the Discovery Deposition of Janice M. Jansky taken on July 24, 2012 and the Trial Deposition of Janice M. Jansky taken on July 20, 2013. Signed by Judge Donovan W. Frank on 7/25/2013. (Attachments: # 1 Exhibit A)(BJS) (Entered: 07/25/2013)

07/25/2013 526 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 7/25/2013. Plaintiffs' witnesses Cynthia Gehrig, William Patefield, David Klemmer. Trial continued to July 26, 2013. (Court Reporter Jeanne Anderson/Carla Bebault/Tim Willette) (BJS) (Entered: 07/26/2013)

07/26/2013 527 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 7/26/2013. Plaintiffs' witnesses David Klemmer, Michael Benusa. Trial continued to Monday, July 29, 2013. (Court Reporter Jeanne Anderson/Timothy Willette) (BJS) (Entered: 07/29/2013)

07/29/2013 531 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 7/29/2013. Plaintiffs' witnesses: Michael Benusa, Videotaped Deposition of Janice Jansky, Ryan Johnson, Videotaped Deposition of Richard M. Kovacevich. Trial continued to July 30, 2013. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) (Entered: 07/30/2013)

07/30/2013 528 BRIEF Plaintiffs' Memorandum in Opposition to Defendant's Proposed Deduction of SLP Earnings From Damages. (Meghjee, Munir) (Entered: 07/30/2013)

07/30/2013 529 AFFIDAVIT in Support re 528 Brief Plaintiffs' Memorandum in Opposition to Defendant's Proposed Deduction of SLP Earnings From Damages. (Attachments: # 1 Exhibit(s) TX 34, # 2 Exhibit(s) TX 31074, # 3 Placeholder for Exhibit TX 33123 [Filed Under Seal], # 4 Exhibit(s) TX 35114, # 5 Exhibit(s) TX 39049, # 6 Exhibit(s) A, # 7 Placeholder for Exhibit B [Filed Under Seal], # 8 Placeholder for Exhibit C [Filed Under Seal], # 9 Exhibit(s) D)(Meghjee, Munir) DOCUMENTS RECEIVED IN CLERKS OFFICE 7/30/13. Modified on 8/1/2013 (GMW). (Entered: 07/30/2013) 07/30/2013 530 CERTIFICATE OF SERVICE by Administrative Committee of the Joint Hospitals Pension Board, Blue Cross Blue Shield of Minnesota, CentraCare Health System, Jerome Foundation, Meijer, Inc., Nebraska Methodist Health System, Inc., North Memorial Health Care, Supplemental Benefit Committee of the International Truck and Engine Corp. Retiree Supplemental Benefit Trust, The Board of Trustees of the Chicago Area Joint Welfare Committee for the Pointing, Cleaning and Caulking Industry Local 52, The Board of Trustees of the Tuckpointers Local 52 Pension Trust Fund, The El Paso County Retirement Plan, The Order of Saint Benedict, The Twin City Hospitals-Minnesota Nurses Association Pension Plan Committee re 529 Affidavit in Support, FILED UNDER SEAL [Exhibits TX 33123, B and C] (Meghjee, Munir) (Entered: 07/30/2013)

07/30/2013 532 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 7/30/2013. Plaintiffs' witness: Videotaped Deposition of John Stumpf; Plaintiff rests. Defendant's witnesses: Roger Adams, David Sylvester. Trial to resume on 7/31/2013. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) (Entered: 07/30/2013)

07/31/2013 533 RESPONSE re 528 Brief Wells Fargo Bank, N.A.'s Response to Plaintiffs' Memorandum in Opposition to Defendant's Proposed Deduction of SLP Earnings From Damages filed by Wells Fargo Bank, N.A.. (Zamansky, Rory) (Entered: 07/31/2013)

07/31/2013 534 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 7/31/2013. Trial to continue on 8/1/2013. (Court Reporter Jeanne Anderson) (BJS) (Entered: 08/01/2013)

08/01/2013 535 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 8/1/2013. Defendant's witnesses: David Sylvester, Laurissa Ahlstrand. Trial to resume on 8/2/2013. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) Modified on 8/5/2013 (akl). (Entered: 08/02/2013)

08/02/2013 536 STIPULATION [AMENDED] Regarding Admission of Documents Into Evidence (Governing Documents) by Administrative Committee of the Joint Hospitals Pension Board, Blue Cross Blue Shield of Minnesota, CentraCare Health System, Jerome Foundation, Meijer, Inc., Nebraska Methodist Health System, Inc., North Memorial Health Care, Supplemental Benefit Committee of the International Truck and Engine Corp. Retiree Supplemental Benefit Trust, The Board of Trustees of the Chicago Area Joint Welfare Committee for the Pointing, Cleaning and Caulking Industry Local 52, The Board of Trustees of the Tuckpointers Local 52 Pension Trust Fund, The El Paso County Retirement Plan, The Order of Saint Benedict, The Twin City Hospitals-Minnesota Nurses Association Pension Plan Committee, Wells Fargo Bank, N.A.. (Attachments: # 1 Exhibit(s) A, # 2 Exhibit(s) B)(Moccio, Vincent) (Entered: 08/02/2013)

08/02/2013 537 CERTIFICATE OF SERVICE ON PROPOSED ORDER by Administrative Committee of the Joint Hospitals Pension Board, Blue Cross Blue Shield of Minnesota, CentraCare Health System, Jerome Foundation, Meijer, Inc., Nebraska Methodist Health System, Inc., North Memorial Health Care, Supplemental Benefit Committee of the International Truck and Engine Corp. Retiree Supplemental Benefit Trust, The Board of Trustees of the Chicago Area Joint Welfare Committee for the Pointing, Cleaning and Caulking Industry Local 52, The Board of Trustees of the Tuckpointers Local 52 Pension Trust Fund, The El Paso County Retirement Plan, The Order of Saint Benedict, The Twin City Hospitals-Minnesota Nurses Association Pension Plan Committee re 536 Stipulation,,, [AMENDED] Regarding Admission of Documents Into Evidence (Governing Documents) (Moccio, Vincent) (Entered: 08/02/2013)

08/02/2013 538 ORDER REGARDNG DEPOSITION DESIGNATIONS OF RAY STOUPA. 1. Absent stipulation of the parties, the Court makes the rulings as listed on Exhibit A, attached hereto, with respect to the designations and objections relating to the Deposition of Ray Stoupa taken on September 20, 2012. Absent further order of the Court, the exhibits made reference to in the deposition shall not be admissible through Mr. Stoupa. Signed by Judge Donovan W. Frank on 08/02/2013. (Attachments: # 1 Exhibit(s) A (rlb) (Entered: 08/02/2013)

08/02/2013 547 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 8/2/2013. Defendant's witnesses: Myron Glucksman, John Peavy, Matthew Grimes. Trial to continue on Monday, 8/5/2013. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) (Entered: 08/06/2013)

08/04/2013 539 STIPULATION [AMENDED] Regarding Admission of Documents Into Evidence by Administrative Committee of the Joint Hospitals Pension Board, Blue Cross Blue Shield of Minnesota, CentraCare Health System, Jerome Foundation, Meijer, Inc., Nebraska Methodist Health System, Inc., North Memorial Health Care, Supplemental Benefit Committee of the International Truck and Engine Corp. Retiree Supplemental Benefit Trust, The Board of Trustees of the Chicago Area Joint Welfare Committee for the Pointing, Cleaning and Caulking Industry Local 52, The Board of Trustees of the Tuckpointers Local 52 Pension Trust Fund, The El Paso County Retirement Plan, The Order of Saint Benedict, The Twin City Hospitals-Minnesota Nurses Association Pension Plan Committee, Wells Fargo Bank, N.A.. (Moccio, Vincent) (Entered: 08/04/2013)

08/04/2013 540 CERTIFICATE OF SERVICE ON PROPOSED ORDER by Administrative Committee of the Joint Hospitals Pension Board, Blue Cross Blue Shield of Minnesota, CentraCare Health System, Jerome Foundation, Meijer, Inc., Nebraska Methodist Health System, Inc., North Memorial Health Care, Supplemental Benefit Committee of the International Truck and Engine Corp. Retiree Supplemental Benefit Trust, The Board of Trustees of the Chicago Area Joint Welfare Committee for the Pointing, Cleaning and Caulking Industry Local 52, The Board of Trustees of the Tuckpointers Local 52 Pension Trust Fund, The El Paso County Retirement Plan, The Order of Saint Benedict, The Twin City Hospitals-Minnesota Nurses Association Pension Plan Committee re 539 Stipulation,,, AMENDED Stipulation Regarding Admission of Documents Into Evidence (Moccio, Vincent) (Entered: 08/04/2013)

08/04/2013 541 MOTION for Judgment as a Matter of Law by Wells Fargo Bank, N.A.. (Jenkins, Justin) (Entered: 08/04/2013)

08/04/2013 542 MEMORANDUM in Support re 541 MOTION for Judgment as a Matter of Law filed by Wells Fargo Bank, N.A.. (Attachments: # 1 LR7.1/LR72.2 Word Count Compliance Certificate)(Jenkins, Justin) (Entered: 08/04/2013)

08/04/2013 543 Declaration of Justin H. Jenkins in Support of 542 Memorandum in Support of Motion filed by Wells Fargo Bank, N.A.. (Attachments: # 1 Exhibit(s) 1-12, # 2 Exhibit(s) 13, # 3 Exhibit(s) 14-21, # 4 Exhibit(s) 22-27)(Jenkins, Justin) (Entered: 08/04/2013)

08/04/2013 544 CERTIFICATE OF SERVICE ON PROPOSED ORDER by Wells Fargo Bank, N.A. re 541 MOTION for Judgment as a Matter of Law (Jenkins, Justin) (Entered: 08/04/2013)

08/05/2013 545 BRIEF Wells Fargo Bank's Objections and Responses to Draft Jury Instructions. (Zamansky, Rory) (Entered: 08/05/2013)

08/05/2013 546 AMENDED ORDER ON STIPULATION REGARDING ADMISSION OF DOCUMENTS INTO EVIDENCE (GOVERNING DOCUMENTS). 1. Exhibits listed on Exhibit A to the parties' Amended Stipulation Regarding Admission of Documents Into Evidence (Governing Documents), dated August 2, 2013, are admissible and hereby admitted into evidence during the jury phase of the trial. 2. Exhibits listed Exhibit B to the parties' Amended Stipulation Regarding Admission of Documents Into Evidence (Governing Documents), dated August 2, 2013, are admissible and hereby admitted into evidence during the bench trial phase of the trial. 3. The information contained on Exhibits A and B are for identification purposes only and shall not be interpreted as being a binding description or characterization of any Trial Exhibit or the grounds for admission of any Trial Exhibits. Signed by Judge Donovan W. Frank on 8/5/2013. (BJS) (Entered: 08/05/2013)

08/05/2013 548 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 8/5/2013. Defendant's witnesses: Matthew Grimes, John McConnell, Videotaped Deposition of Ray Stoupa. Charge conference held. Trial continued to Tuesday, 8/6/2013. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) (Entered: 08/06/2013)

08/05/2013 550 AMENDED Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 8/5/2013. Defendant's witnesses: Matthew Grimes, John McConnell, Videotaped Deposition of Ray Stoupa. Charge Conference held. Defendant's motion to dismiss for judgment as matter of law is DENIED. Trial continued Tuesday, 8/6/2013. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) (Entered: 08/07/2013)

08/06/2013 549 ORDER ON STIPULATION REGARDING ADMISSION OF DOCUMENTS INTO EVIDENCE. 1. Exhibits listed on Exhibit A to the parties' Stipulation Regarding Admission of Documents Into Evidence, dated July 18, 2013, are admissible and hereby admitted into evidence. 2. The information contained on Exhibit A is for identification purposes only and shall not be interpreted as being a binding description or characterization of any Trial Exhibit or the grounds for admission of any Trial Exhibit. 3. Exhibit Numbers TX 11314, TX 12001 and TX 12750 are removed from the original stipulation and are not to be admitted by stipulation in this matter. In addition, TX 11999-1, TX 12009-1, TX 12009-2 and TX 33683-1 are replacing TX 11999, TX 12009 and TX 33683. Thus, TX 11999, TX 12009 and TX 33683 are not to be admitted by stipulation in this matter from the original stipulation. 4. Exhibit A is not intended to be an exhaustive list of the trial exhibits prepared by Defendant and sent or presented to a Plaintiff by Defendant. Nothing herein shall be deemed as a waiver of either party's right to offer into evidence additional trial exhibits of the type listed on Exhibit A, or a waiver of either party's right to object to such additional exhibits. Signed by Judge Donovan W. Frank on 8/6/2013. (BJS) (Entered: 08/06/2013)

08/06/2013 551 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 8/6/2013. Charge conference continued; closing arguments. Trial continued to 8/7/2013. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) (Entered: 08/08/2013)

08/07/2013 552 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial continued on 8/7/2013. Jury instructed; case to the jury at 10:20 a.m. Jury returned without a verdict; jury to resume deliberations on 8/8/2013. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) (Entered: 08/08/2013)

08/07/2013 553 Minute Entry for proceedings held before Judge Donovan W. Frank: Bench Trial begun on 8/7/2013. Plaintiffs' witnesses: John Orner, Michael Julien. Bench trial to resume on 8/8/2013. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) (Entered: 08/08/2013)

08/08/2013 554 Minute Entry for proceedings held before Judge Donovan W. Frank: Jury Trial completed on 8/8/2013. Jury verdict returned for Defendant; Clerk to file Verdict form. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) (Entered: 08/09/2013)

08/08/2013 555 Minute Entry for proceedings held before Judge Donovan W. Frank: Bench Trial completed on 8/8/2013. Plaintiffs' witnesses: Michael Julien, Thomas Rivkin, Susan Slocum, Donn Viola. Defendant's witness: Laurissa Ahlstrand. Both sides rest. Proposed findings of fact to be submitted 8/29/2013. (Court Reporter Jeanne Anderson/Carla Bebault) (BJS) (Entered: 08/09/2013)

08/09/2013 556 TEXT ONLY ENTRY: NOTICE to Attorneys: As of this date, all jury trial exhibits have been returned to the parties. (BJS) (Entered: 08/09/2013)

08/09/2013 557 REDACTED JURY VERDICT. Pursuant to Fed. R. Civ. P. 5.2, unredacted version of this document is filed under seal. (Attachments: # 1 SEALED Original Unredacted Jury Verdict)(GMW) (Entered: 08/09/2013)

08/09/2013 558 Joint Exhibit List. (Attachments: # 1 Exhibit List)(BJS) (Entered: 08/09/2013)

08/09/2013 559 Final Jury Instructions. (BJS) (Entered: 08/09/2013)

Outcome: Defendant's verdict.

Plaintiff's Experts:

Defendant's Experts:

Comments: Editor's Comments: The fact that the Court's docket contained more than 500 entries is indicative of the intensity of the litigation of this case.