Norfolk County Retirement System v. Solazyme, Inc. et al

Northern District of California, cand-4:2015-cv-02938

STIPULATION WITH PROPOSED ORDER CORRECTION OF DOCKET # {{41}} filed by Michael V. Arbige, Ian T. Clark, David C. Cole, James R. Craigie, Jerry Fiddler, Peter Kovacs, Tyler W. Painter, Solazyme, Inc., Jonathan S. Wolfson.

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1 JORDAN ETH (CA SBN 121617) JEth@mofo.com 2 MARK R.S. FOSTER (CA SBN 223682) MFoster@mofo.com 3 MORRISON & FOERSTER LLP 425 Market Street 4 San Francisco, California 94105-2482 Telephone: 415.268.7000 5 Facsimile: 415.268.7522 6 Attorneys for Defendants SOLAZYME, INC., JONATHAN S. WOLFSON, 7 TYLER W. PAINTER, DAVID C. COLE, JERRY FIDDLER, MICHAEL V. ARBIGE, IAN T. CLARK, PETER KOVACS, 8 and JAMES R. CRAIGIE 9 UNITED STATES DISTRICT COURT 10 NORTHERN DISTRICT OF CALIFORNIA 11 12 NORFOLK COUNTY RETIREMENT SYSTEM, Case No. 03:15-CV-02938 HSG 13 Individually and on Behalf of All Others Similarly Situated, CLASS ACTION 14 Plaintiff, STIPULATION AND 15 [PROPOSED] ORDER v. EXTENDING DEFENDANTS' 16 RESPONSE DEADLINE SOLAZYME, INC., JONATHAN S. WOLFSON, PENDING APPOINTMENT OF 17 TYLER W. PAINTER, DAVID C. COLE, LEAD PLAINTIFF AND LEAD JERRY FIDDLER, MICHAEL V. ARBIGE, IAN COUNSEL AND VACATING 18 T. CLARK, PETER KOVACS, JAMES R. INITIAL CASE MANAGEMENT CRAIGIE, GOLDMAN, SACHS & CO., and CONFERENCE 19 MORGAN STANLEY & CO. LLC, 20 Defendants. 21 22 23 24 25 26 27 28 STIPULATION EXTENDING DEFENDANTS' RESPONSE DEADLINE & VACATING CMC CASE NO. 03:15-CV-02938 HSG sf-3570019 1 All parties, through their undersigned counsel, hereby submit this Stipulation deferring 2 Defendants' deadlines to respond to the complaint pursuant to Civil Local Rule 6-1(a), and 3 vacating the initial case management conference. 4 RECITALS 5 A. On June 24, 2015, the above-captioned class action complaint was filed in this 6 Court. (Doc. 1.) The complaint alleges violations of the federal securities laws by Solazyme, 7 Inc., certain of its directors, officers, and executives, as well as the underwriters of Solazyme's 8 registered public offerings of common stock and convertible notes during the class period of 9 February 27, 2014 through November 5, 2014, inclusive. 10 B. Upon commencement of the action, an initial case management conference was set 11 for September 29, 2015, at 10:00 a.m. (Doc. 6.) 12 C. This action is governed by the Private Securities Litigation Reform Act of 1995, 13 15 U.S.C. § 78u-4 et seq. (the "Reform Act"). Among other things, discovery is automatically 14 stayed pending resolution of any motion to dismiss. 15 D. Pursuant to the provisions of the Reform Act, motions for appointment of lead 16 plaintiff and lead counsel were filed on August 25, 2015. (Docs. 16-38.) Those motions are 17 scheduled for hearing on October 8, 2015. (Doc. 39.) 18 E. No meaningful litigation activity is expected until after the Court appoints lead 19 plaintiff and lead counsel, at which point a complaint is likely to be filed by the appointed lead 20 plaintiff and lead counsel. After an operative complaint is filed, defendants anticipate filing 21 motions to dismiss that complaint. 22 F. Counsel for the undersigned parties agree that deferring the response deadlines for 23 all defendants until after the Court appoints a lead plaintiff and lead counsel pursuant to the 24 Reform Act is prudent and will conserve party and judicial resources. The parties further agree 25 that an initial case management conference, attendant deadlines, and related ADR procedures are 26 premature and should be deferred until the initial case management conference is reset. 27 28 STIPULATION EXTENDING DEFENDANTS' RESPONSE DEADLINE & VACATING CMC CASE NO. 03:15-CV-02938 HSG 1 sf-3570019 1 STIPULATION 2 NOW, THEREFORE, the undersigned hereby stipulate, subject to Court approval, as 3 follows: 4 1. The named defendants agree to accept service, through counsel, to the extent they 5 have not yet been served. 6 2. The named defendants shall have no obligation to respond to the complaint until 7 after the Court appoints a lead plaintiff and lead counsel. 8 3. Counsel for the named defendants will meet and confer with the court-appointed 9 lead counsel within fourteen days after the Court makes its appointment to discuss a schedule for 10 the filing of any complaint and defendants' responses, including their currently anticipated 11 motion to dismiss. The parties will thereafter submit a schedule to the Court for its consideration. 12 4. The Case Management Conference that is presently scheduled for 13 September 29, 2015 is hereby vacated and shall be reset in connection with the setting of the 14 briefing schedule on defendants' anticipated motions to dismiss. The related deadlines, including 15 ADR requirements, shall be deferred until after an initial case management conference is reset. 16 17 18 19 20 21 22 23 24 25 26 27 28 STIPULATION EXTENDING DEFENDANTS' RESPONSE DEADLINE & VACATING CMC CASE NO. 03:15-CV-02938 HSG 2 sf-3570019 1 Dated: September 4, 2015 Dated: September 4, 2015 2 ROBBINS GELLER RUDMAN & DOWD MORRISON & FOERSTER LLP LLP 3 By: /s/ Mark R.S. Foster By: /s/ Willow Radcliffe 4 Attorneys for Defendants Local Counsel for Plaintiff SOLAZYME, INC., JONATHAN S. 5 NORFOLK COUNTY RETIREMENT WOLFSON, TYLER W. PAINTER, SYSTEM DAVID C. COLE, JERRY FIDDLER, 6 MICHAEL V. ARBIGE, IAN T. CLARK, LABATON SUCHAROW LLP PETER KOVACS, and JAMES R. 7 CHRISTOPHER J. KELLER CRAIGIE MICHAEL W. STOCKER 8 RACHEL A. AVAN 140 Broadway Dated: September 4, 2015 9 New York, New York 10005 Telephone: (212) 907-0700 SIMPSON THACHER & BARTLETT 10 212/818-0477 (fax) LLP Counsel for Plaintiff 11 Norfolk County Retirement System By: /s/ Simona G. Strauss 12 Attorneys for Defendants GOLDMAN, SACHS & CO., and 13 MORGAN STANLEY & CO. LLC 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 STIPULATION EXTENDING DEFENDANTS' RESPONSE DEADLINE & VACATING CMC CASE NO. 03:15-CV-02938 HSG 3 sf-3570019 1 [PROPOSED] ORDER 2 3 Pursuant to stipulation, it is SO ORDERED. 4 5 6 HON. HAYWOOD S GILLIAM, JR United States District Court Judge 7 8 Dated: _________________2015 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 STIPULATION EXTENDING DEFENDANTS' RESPONSE DEADLINE & VACATING CMC CASE NO. 03:15-CV-02938 HSG 4 sf-3570019 1 ECF ATTESTATION 2 I, Mark R.S. Foster, am the ECF User whose ID and Password are being used to file this: 3 STIPULATION AND [PROPOSED] ORDER EXTENDING DEFENDANTS' 4 RESPONSE DEADLINE PENDING APPOINTMENT OF LEAD PLAINTIFF AND LEAD COUNSEL AND VACATING INITIAL CASE MANAGEMENT 5 CONFERENCE 6 In compliance with Civil Local Rule 5-1, I hereby attest that Willow Radcliffe and 7 Simona Strauss have concurred in this filing. 8 9 Dated: September 4, 2015 MORRISON & FOERSTER LLP 10 By: /s/ Mark R.S. Foster 11 Attorneys for Defendants 12 SOLAZYME, INC., JONATHAN S. WOLFSON, TYLER W. PAINTER, 13 DAVID C. COLE, JERRY FIDDLER, MICHAEL V. ARBIGE, IAN T. 14 CLARK, PETER KOVACS, and JAMES R. CRAIGIE 15 16 17 18 19 20 21 22 23 24 25 26 27 28 STIPULATION EXTENDING DEFENDANTS' RESPONSE DEADLINE & VACATING CMC CASE NO. 03:15-CV-02938 HSG 5 sf-3570019