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

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

MOTION by Plaintiff Utah Retirement Systems for extension of time to File an Amended Complaint and to Set a Briefing Schedule for Motion to Dismiss

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Case: 1:16-cv-05198 Document #: 39 Filed: 09/15/16 Page 1 of 6 PageID #:252 UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION PENSION TRUST FUND FOR OPERATING ENGINEERS, Individually and on Behalf of All No. 1:16-CV-05198 Others Similarly Situated, Hon. Jorge L. Alonso Plaintiff, v. DEVRY EDUCATION GROUP, INC., DANIEL HAMBURGER, RICHARD M. GUNST, AND TIMOTHY J. WIGGINS, Defendants. JOINT MOTION TO EXTEND TIME TO FILE AN AMENDED COMPLAINT AND TO SET THE BRIEFING SCHEDULE FOR THE MOTION TO DISMISS Lead Plaintiff Utah Retirement Systems ("URS"), by and through its attorneys, Spector Roseman Kodroff & Willis, P.C. and Wexler Wallace LLP, and Defendants DeVry Education Group, Inc., Daniel Hamburger, Richard M. Gunst, and Timothy J. Wiggins, by and through their attorneys, Kaye Scholer LLP, move this Court pursuant to Fed. R. Civ. P. 6(b)(1) for an order setting forth a schedule for the filing of an Amended Complaint and for briefing any motion to dismiss the Amended Complaint. In support of this joint motion, the Parties state as follows: 1. On May 13, 2016, Pension Trust Fund for Operating Engineers ("Pension Trust Fund") filed a complaint (ECF No. 1) in the above-captioned securities class action against Defendants. 2. The complaint is a putative class action asserting federal securities claims arising under the Securities Exchange Act of 1934, and governed by the Private Securities Case: 1:16-cv-05198 Document #: 39 Filed: 09/15/16 Page 2 of 6 PageID #:253 Litigation Reform Act of 1995 (the "PSLRA"), see 15 U.S.C. § 77z-1 et seq.; 15 U.S.C. § 78u-4 et seq. 3. On May 25, 2016, prior to the filing date for lead plaintiff motions, counsel for Pension Trust Fund and Defendants' counsel submitted a joint motion (ECF No. 7) setting a date for the filing of an amended complaint and a proposed briefing schedule. Neither Lead Plaintiff, URS, nor Lead Counsel had an opportunity to participate in these discussions or to confer with Defendants' counsel at that time concerning the proposed deadlines. 4. On May 31, 2016, based on the joint motion, the Court entered an order (ECF No. 14) instructing that "[a]ny plaintiff that the Court may hereafter appoint to serve as lead plaintiff in this action will have until 60 days after such plaintiff is appointed to serve lead plaintiff (a) to file an amended or consolidated Complaint or (b) to provide written notice to defendants that it will not file an amended or consolidated Complaint" and setting a briefing schedule. 5. On July 12, 2016, URS and Pension Trust Fund separately moved to be appointed lead plaintiff, each with different choice of proposed lead counsel (ECF No. 23 and 20, respectively). 6. On July 26, 2016, URS filed a Memorandum of Law in Further Support of its Motion for Appointment as Lead Counsel and Approval of its Selection of Counsel (ECF No. 34) and Pension Trust Fund filed its Non-Opposition to URS's motion (ECF No. 33). 7. On August 24, 2016, the Court entered an Order: (i) granting URS' Motion for Appointment as Lead Plaintiff; (ii) appointing URS to serve as Lead Plaintiff pursuant to Section 21D(a)(3)(B) of the Securities Exchange Act, as amended by the PSLRA; Case: 1:16-cv-05198 Document #: 39 Filed: 09/15/16 Page 3 of 6 PageID #:254 and (iii) approving Spector Roseman Kodroff & Willis, P.C. as URS' choice of lead counsel (ECF Nos. 36-38). 8. Lead Counsel and Defendants' counsel have now conferred and agreed upon a schedule for the filing of an Amended Complaint and for Defendants to answer, move to dismiss or otherwise respond to that Amended Complaint. 9. The Parties, by and through their undersigned counsel, jointly move this Court for entry of an order as follows: a. Lead Plaintiff shall file an Amended Complaint on or before November 8, 2016. b. Defendants shall answer, move to dismiss or otherwise respond to the Amended Complaint on or before January 20, 2017. c. If Defendants move to dismiss, Lead Plaintiff shall file a brief in opposition to that motion on or before March 21, 2017. d. Defendants may file a reply in further support of that motion on or before April 20, 2017. Case: 1:16-cv-05198 Document #: 39 Filed: 09/15/16 Page 4 of 6 PageID #:255 WHEREFORE, the Parties respectfully request that the Court enter an order granting the Parties' joint motion to extend time to file an amended complaint and to set the briefing schedule for the motion to dismiss. Dated: September 15, 2016 Respectfully submitted, WEXLER WALLACE LLP /s/ Mark R. Miller Kenneth A. Wexler Mark R. Miller 55 W. Monroe Street, Suite 3300 Chicago, IL 60603 Tel: (312) 346-0022 Fax: (312) 346-0022 Email: Liaison Counsel SPECTOR ROSEMAN KODROFF & WILLIS, P.C. /s/ Mark S. Willis Mark S. Willis (pro hac vice) 1101 Pennsylvania Avenue, N.W., Suite 600 Washington, D.C. 20004 Tel: (202) 756-3601 Fax: (202) 756-3602 Email: /s/ Robert M. Roseman Robert M. Roseman (pro hac vice) Daniel J. Mirarchi (pro hac vice) Andrew N. Dodemaide (pro hac vice) 1818 Market Street, Suite 2500 Philadelphia, PA 19103 Tel: (215) 496-0300 Fax: (215) 496-6611 Email: Case: 1:16-cv-05198 Document #: 39 Filed: 09/15/16 Page 5 of 6 PageID #:256 Attorneys for Utah Retirement Systems KAYE SCHOLER LLP /s/ Alan N. Salpeter Alan N. Salpeter Bryan M. Westhoff 70 West Madison Street, Suite 4200 Chicago, IL 60602 Tel: (312) 583-2300 Fax: (312) 583-2360 Email: KAYE SCHOLER LLP Phillip A. Geraci (pro hac vice) Jeffrey A. Fuisz (pro hac vice) Aaron F. Miner (pro hac vice) 250 West 55th Street New York, NY 10019 Tel: (212) 836-8000 Fax: (212) 836-8689 Email: Attorneys for Defendants Case: 1:16-cv-05198 Document #: 39 Filed: 09/15/16 Page 6 of 6 PageID #:257 CERTIFICATE OF SERVICE On September 15, 2016, I electronically submitted the foregoing document with the clerk of court for the U.S. District Court, Northern District of Illinois, using the electronic case filing system of the court. I hereby certify that I have served all counsel of record electronically or by another manner authorized by Federal Rule of Civil Procedure 5(b)(2). By: /s/Mark R. Miller