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IN RE COLONIAL BANCGROUP, INC. SECURITIES LITIGATION

Case No. 2:09-CV-00104-RDP-WC.

In re COLONIAL BANCGROUP, INC. SECURITIES LITIGATION

United States District Court, M.D. Alabama, Northern Division.

September 9, 2013.

Attorney(s) appearing for the Case

Public Pension Fund Group, (DESIGNATED AS LEAD PLAINTIFF) class members Arkansas Teacher Retirement System, State-Boston Retirement System, Norfolk County Retirement System, and City of Brockton Retirement System, Plaintiff, represented by Alan I. Ellman , Labaton Sucharow LLP, Angelina Nguyen , Labaton Sucharow, Christopher J. Keller , Labaton Sucharow LLP, Craig A. Martin , Labaton Sucharow LLP, Douglas Scott Wilens , Robbins Geller Rudman & Dowd LLP, Gerald Clark Brooks, Jr. , Brooks Law Group, LLC, Henry Lewis Gillis , Thomas Means Gillis & Seay PC, Ira M Levee , Lowenstein Sandler PC, Jack Reise , Robbins Geller Rudman Dowd, LLP, James W. Johnson , Labaton Sucharow LLP, Michael Stephen Dampier , Law Offices of M. Stephen Dampier, P.C., Michael S Etkin , Lowenstein Sandler PC, Paul J Geller , Robbins Geller Rudman & Dowd LLP, Stefanie J. Sundel , Labaton Sucharow LLP, Steven A. Schwartz , Chimicles & Tikellis LLP, Thomas A. Dubbs , Labaton Sucharow LLP, Thomas G Hoffman, Jr. , Labaton Sucharow LLP, Timothy N Mathews , Chimicles & Tikellis LLP, Tyrone Carlton Means , Thomas Means Gillis & Seay PC, Matthew C Moehlman , Labaton Sucharow LLP & Nicole M. Zeiss , Labaton Sucharow LLP.

The Horace F. Moyer and Joan M. Moyer Living Trust, Plaintiff, represented by Alan I. Ellman , Labaton Sucharow LLP, Angelina Nguyen , Labaton Sucharow, Christopher J. Keller , Labaton Sucharow LLP, Gerald Clark Brooks, Jr. , Brooks Law Group, LLC, Henry Lewis Gillis , Thomas Means Gillis & Seay PC, James W. Johnson , Labaton Sucharow LLP, Jeffrey A. Klafter , KLAFTER OLSEN & LESSER LLP, Stefanie J. Sundel , Labaton Sucharow LLP & Tyrone Carlton Means , Thomas Means Gillis & Seay PC.

City of Worcester, Plaintiff, represented by Gerald Clark Brooks, Jr. , Brooks Law Group, LLC, Henry Lewis Gillis , Thomas Means Gillis & Seay PC, James W. Johnson , Labaton Sucharow LLP, Matthew C Moehlman , Labaton Sucharow LLP, Thomas A. Dubbs , Labaton Sucharow LLP & Tyrone Carlton Means , Thomas Means Gillis & Seay PC.

Robert E. Lowder, Defendant, represented by Enrique Jose Gimenez , Lightfoot Franklin & White LLC, James Fletcher Hughey, III , Robert David Segall , Copeland Franco Screws & Gill, Samuel Holley Franklin , Lightfoot Franklin & White LLC & Mitchell David Greggs , Maynard Cooper & Gale, PC.

Sarah H. Moore, Defendant, represented by Enrique Jose Gimenez , Lightfoot Franklin & White LLC, James Fletcher Hughey, III , Robert David Segall , Copeland Franco Screws & Gill, Samuel Holley Franklin , Lightfoot Franklin & White LLC & Mitchell David Greggs , Maynard Cooper & Gale, PC.

T. Brent Hicks, Defendant, represented by Enrique Jose Gimenez , Lightfoot Franklin & White LLC, James Fletcher Hughey, III , Robert David Segall , Copeland Franco Screws & Gill & Samuel Holley Franklin , Lightfoot Franklin & White LLC.

PricewaterhouseCoopers LLP, Defendant, represented by Edward Hamilton Wilson, Jr. , Ball Ball Matthews & Novak PA, Elizabeth V Tanis , King & Spalding LLP, Geoffrey Michael Ezgar , King & Spalding, LLP, Shelby S. Guilbert, Jr. , King & Spalding LLP, Tabor Robert Novak, Jr. , Ball Ball Matthews & Novak PA, Thomas Edward Walker , Johnston Barton Proctor & Rose LLP & Drew David Dropkin , King & Spalding LLP.

Banc of America Securities LLC, Defendant, represented by Alan Frederick Enslen , Maynard, Cooper & Gale, P.C., Armistead Inge Selden, III , Maynard Cooper & Gale, PC, Carl Stanley Burkhalter , Maynard, Cooper & Gale, P.C., Kathryn Dietrich Perreault , Maynard Cooper & Gale, PC, Richard Jon Davis , Maynard Cooper & Gale & Steven Lee McPheeters , Maynard, Cooper & Gale, P.C..

Citigroup Global Markets Inc., Defendant, represented by Alan Frederick Enslen , Maynard, Cooper & Gale, P.C., Armistead Inge Selden, III , Maynard Cooper & Gale, PC, Carl Stanley Burkhalter , Maynard, Cooper & Gale, P.C., Kathryn Dietrich Perreault , Maynard Cooper & Gale, PC, Richard Jon Davis , Maynard Cooper & Gale & Steven Lee McPheeters , Maynard, Cooper & Gale, P.C..

Credit Suisse Securities (USA) LLC, Defendant, represented by Alan Frederick Enslen , Maynard, Cooper & Gale, P.C., Armistead Inge Selden, III , Maynard Cooper & Gale, PC, Carl Stanley Burkhalter , Maynard, Cooper & Gale, P.C., Kathryn Dietrich Perreault , Maynard Cooper & Gale, PC, Richard Jon Davis , Maynard Cooper & Gale & Steven Lee McPheeters , Maynard, Cooper & Gale, P.C..

Deutsche Bank Securities Inc., Defendant, represented by Alan Frederick Enslen , Maynard, Cooper & Gale, P.C., Armistead Inge Selden, III , Maynard Cooper & Gale, PC, Carl Stanley Burkhalter , Maynard, Cooper & Gale, P.C., Kathryn Dietrich Perreault , Maynard Cooper & Gale, PC, Richard Jon Davis , Maynard Cooper & Gale & Steven Lee McPheeters , Maynard, Cooper & Gale, P.C..

Morgan Keegan & Company, Inc., Defendant, represented by Alan Frederick Enslen , Maynard, Cooper & Gale, P.C., Armistead Inge Selden, III , Maynard Cooper & Gale, PC, Carl Stanley Burkhalter , Maynard, Cooper & Gale, P.C., Kathryn Dietrich Perreault , Maynard Cooper & Gale, PC, Richard Jon Davis , Maynard Cooper & Gale & Steven Lee McPheeters , Maynard, Cooper & Gale, P.C..

Morgan Stanley & Co. Inc., Defendant, represented by Alan Frederick Enslen , Maynard, Cooper & Gale, P.C., Armistead Inge Selden, III , Maynard Cooper & Gale, PC, Carl Stanley Burkhalter , Maynard, Cooper & Gale, P.C., Kathryn Dietrich Perreault , Maynard Cooper & Gale, PC, Richard Jon Davis , Maynard Cooper & Gale & Steven Lee McPheeters , Maynard, Cooper & Gale, P.C..

RBC Dain Rauscher Inc., Defendant, represented by Alan Frederick Enslen , Maynard, Cooper & Gale, P.C., Armistead Inge Selden, III , Maynard Cooper & Gale, PC, Carl Stanley Burkhalter , Maynard, Cooper & Gale, P.C., Kathryn Dietrich Perreault , Maynard Cooper & Gale, PC, Richard Jon Davis , Maynard Cooper & Gale & Steven Lee McPheeters , Maynard, Cooper & Gale, P.C..

Stifel, Nicolaus & Company, Inc., Defendant, represented by Alan Frederick Enslen , Maynard, Cooper & Gale, P.C., Armistead Inge Selden, III , Maynard Cooper & Gale, PC, Carl Stanley Burkhalter , Maynard, Cooper & Gale, P.C., Kathryn Dietrich Perreault , Maynard Cooper & Gale, PC, Richard Jon Davis , Maynard Cooper & Gale & Steven Lee McPheeters , Maynard, Cooper & Gale, P.C..

SunTrust Robinson Humphrey, Inc., Defendant, represented by Alan Frederick Enslen , Maynard, Cooper & Gale, P.C., Armistead Inge Selden, III , Maynard Cooper & Gale, PC, Carl Stanley Burkhalter , Maynard, Cooper & Gale, P.C., Kathryn Dietrich Perreault , Maynard Cooper & Gale, PC, Richard Jon Davis , Maynard Cooper & Gale & Steven Lee McPheeters , Maynard, Cooper & Gale, P.C..

UBS Securities LLC, Defendant, represented by Alan Frederick Enslen , Maynard, Cooper & Gale, P.C., Armistead Inge Selden, III , Maynard Cooper & Gale, PC, Carl Stanley Burkhalter , Maynard, Cooper & Gale, P.C., Kathryn Dietrich Perreault , Maynard Cooper & Gale, PC, Richard Jon Davis , Maynard Cooper & Gale & Steven Lee McPheeters , Maynard, Cooper & Gale, P.C..

Wachovia Capital Markets, LLC, Defendant, represented by Alan Frederick Enslen , Maynard, Cooper & Gale, P.C., Armistead Inge Selden, III , Maynard Cooper & Gale, PC, Carl Stanley Burkhalter , Maynard, Cooper & Gale, P.C., Kathryn Dietrich Perreault , Maynard Cooper & Gale, PC, Richard Jon Davis , Maynard Cooper & Gale & Steven Lee McPheeters , Maynard, Cooper & Gale, P.C..

Lewis E. Beville, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

Augustus K. Clements, III, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

Robert S. Craft, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

Patrick F. Dye, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

Hubert L. Harris, Jr., Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

Clinton O. Holdbrooks, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

Deborah L. Linden, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

John Ed Mathison, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

Milton E. McGregor, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

Joseph D. Mussafer, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

William E. Powell, III, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

James W. Rane, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

Simuel Sippial, Jr., Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

Edward V. Welch, Defendant, represented by Larry Brittain Childs , Waller Lansden Dortch & Davis LLP, Walter Edgar McGowan , Gray Langford Sapp McGowan Gray, Gray & Nathanson PC & William Charles Athanas , Waller Lansden Dortch & Davis, LLP.

MEMORANDUM OPINION

R. DAVID PROCTOR, District Judge.

There is an old adage: "measure twice, cut once." Although it is generally accepted that this maxim originated in the carpentry vocation, it nonetheless has a number of applications in other areas. For example, it can serve as sound advice in the legal profession. Lawyers must train themselves to think carefully about the consequences (both intended and unintended) of their tactical decisions. As it turns...

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