Pension Trust Fund For Operating Engineers v. DeVry Education Group, Inc. et al

Northern District of Illinois, ilnd-1:2016-cv-05198

STATUS Report Regarding Settlement by Utah Retirement Systems

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Case: 1:16-cv-05198 Document #: 141 Filed: 08/21/19 Page 1 of 5 PageID #:2419 UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION PENSION TRUST FUND FOR OPERATING ENGINEERS, Individually and on Behalf of All Case No. 1:16-CV-05198 Others Similarly Situated, Plaintiff, Hon. Jorge L. Alonso v. DEVRY EDUCATION GROUP, INC., DANIEL HAMBURGER, RICHARD M. GUNST, PATRICK J. UNZICKER, AND TIMOTHY J. WIGGINS, Defendants. JOINT STATUS REPORT REGARDING SETTLEMENT Lead Plaintiff Utah Retirement Systems ("URS" or "Lead Plaintiff") and Defendants Adtalem Global Education Inc. f/k/a DeVry Education Group, Inc., Daniel Hamburger, Richard M. Gunst, Patrick J. Unzicker, and Timothy J. Wiggins ("Defendants," and together with Lead Plaintiff "the Parties") hereby submit this Joint Status Report Regarding Settlement. 1. On May 28, 2019, the Parties informed the Court that they had executed a term sheet agreeing to settle this case in principle following a mediation. The Parties therefore jointly sought to vacate the discovery deadlines and stay the case. ECF No. 132. On May 30, 2019, the Court granted the Parties' motion. The Court's Order further provided that "Lead Plaintiffs shall file a motion for preliminary approval of the class settlement or a joint status report by 6/27/19." ECF No. 135. Case: 1:16-cv-05198 Document #: 141 Filed: 08/21/19 Page 2 of 5 PageID #:2419 2. On June 25, 2019 and July 29, 2019, the Parties filed Joint Status Reports informing the Court that they were still working to negotiate the terms of the settlement agreement. ECF Nos. 139 and 140. 3. The Parties continue to work diligently to negotiate the remaining terms of their agreement to settle this action. The Parties anticipate completing the documentation of the proposed settlement and presenting it for the Court's consideration by September 4, 2019. The Parties do not anticipate asking for any additional extensions of the date by which to file the motion seeking preliminary approval the class settlement. 4. The Parties therefore respectfully request that the Court issue an order requiring them to file, on or before September 4, 2019, a motion seeking preliminary approval of the settlement together with the executed settlement agreement. Dated: August 21, 2019 Respectfully submitted, /s/ Carol C. Villegas Carol C. Villegas (pro hac vice) Jonathan Gardner (pro hac vice) Theodore J. Hawkins (pro hac vice) LABATON SUCHAROW LLP 140 Broadway New York, New York 10005 (212) 907-0700 cvillegas@labaton.com jgardner@labaton.com thawkins@labaton.com Mark S. Willis LABATON SUCHAROW LLP 1050 Connecticut Avenue, NW, Suite 500 Washington, D.C. 20036 202-772-1880 mwillis@labaton.com Counsel for Lead Plaintiff Utah Retirement Systems 2 Case: 1:16-cv-05198 Document #: 141 Filed: 08/21/19 Page 3 of 5 PageID #:2419 Kenneth A. Wexler Mark R. Miller WEXLER WALLACE LLP 55 West Monroe, Suite 3300 Chicago, IL 60603 (312) 346-2222 kaw@wexlerwallace.com mrm@wexlerwallace.com Liaison Counsel for Lead Plaintiff Utah Retirement Systems /s/ Philip S. Khinda Philip S. Khinda (pro hac vice) Patricia Palacios (pro hac vice) STEPTOE & JOHNSON LLP 1330 Connecticut Ave. NW Washington, D.C. 20036 (202) 429-3000 pkhinda@steptoe.com ppalacios@steptoe.com William R. Andrichik STEPTOE & JOHNSON LLP 115 S. LaSalle Street, Suite 3100 Chicago, Illinois 60603 (312) 577-1300 wandrichik@steptoe.com Attorneys for Defendants Adtalem Global Education Inc. f/k/a DeVry Education Group, Inc., Richard M. Gunst, Patrick J. Unzicker, and Timothy J. Wiggins /s/ Sean M. Berkowitz Sean M. Berkowitz Eric R. Swibel LATHAM & WATKINS LLP 330 North Wabash, Suite 2800 Chicago, IL 60611 Telephone: (312) 876-7700 sean.berkowitz@lw.com eric.swibel@lw.com 3 Case: 1:16-cv-05198 Document #: 141 Filed: 08/21/19 Page 4 of 5 PageID #:2419 Attorneys for Defendant Daniel Hamburger 4 Case: 1:16-cv-05198 Document #: 141 Filed: 08/21/19 Page 5 of 5 PageID #:2419 CERTIFICATE OF SERVICE I hereby certify that on August 21, 2019, I caused the foregoing to be filed with the Clerk of the Court using the Court's CM/ECF system. Notice of this filing will be sent to all counsel of record through the Court's CM/ECF system. Dated: August 21, 2019 /s/ Theodore J. Hawkins Theodore J. Hawkins 5