West Palm Beach Fire Pension Fund v. Lawrence "Larry" Page et al

Northern District of California, cand-4:2015-cv-01334

STIPULATION AND ORDER {{39}} Staying Action. Case is Stayed. Signed by Judge Ronald M. Whyte on 6/26/15.

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1 BORIS FELDMAN, State Bar No. 128838 ELIZABETH C. PETERSON, State Bar No. 194561 2 WILSON SONSINI GOODRICH & ROSATI Professional Corporation 3 650 Page Mill Road Palo Alto, CA 94304-1050 4 Telephone: (650) 493-9300 Facsimile: (650) 565-5100 5 Email: boris.feldman@wsgr.com (),/(' epeterson@wsgr.com 6 Attorneys for Defendants Larry Page, Sergey 7 M. Brin, Eric E. Schmidt, L. John Doerr, Diane B. Greene, John L. Hennessy, Ann 8 Mather, Paul S. Otellini, K. Ram Shriram, Shirley M. Tilghman, Michael J. Moritz, 9 Arthur D. Levinson, Robert Alan Eustace, Omid R. Kordestani, Jonathan J. Rosenberg, 10 Shona L. Brown, Arnnon Geshuri, and Nominal Defendant Google Inc. 11 12 [Additional Counsel Appear on Signature Pages] 13 UNITED STATES DISTRICT COURT 14 NORTHERN DISTRICT OF CALIFORNIA 15 WEST PALM BEACH FIRE PENSION FUND,) CASE NO.: 5:15-cv-01334-RMW 16) Plaintiff,) STIPULATION AND [] 17) ORDER STAYING ACTION v.) 18) LAWRENCE "LARRY" PAGE, SERGEY M.) Date: N/A 19 BRIN, ERIC E. SCHMIDT, L. JOHN DOERR,) Time: N/A DIANE B. GREENE, JOHN L. HENNESSY,) Judge: Hon. Ronald M. Whyte 20 ANN MATHER, PAUL S. OTELLINI, K. RAM) SHRIRAM, SHIRLEY M. TILGHMAN,) 21 MICHAEL J. MORITZ, ARTHUR D.) LEVINSON, ROBERT ALAN EUSTACE,) 22 OMID R. KORDESTANI, JONATHAN J.) ROSENBERG, SHONA L. BROWN, and) 23 ARNNON GESHURI,)) 24 Defendants.)) 25 and)) 26 GOOGLE INC.)) 27) 28 STIPULATION AND [] ORDER STAYING ACTION CASE NO. 5:15-CV-01334-RMW 1 WHEREAS, on March 23, 2015, Plaintiff West Palm Beach Fire Pension Fund 2 ("Plaintiff") filed its Verified Shareholder Derivative Complaint (the "Complaint") against 3 Defendants;1 4 WHEREAS, on February 28, 2014, a purported shareholder derivative action asserting 5 state law claims arising from facts common to this action was filed against all but one of the 6 Defendants in Santa Clara County Superior Court, followed by two additional purported 7 shareholder derivative actions that were filed on March 6, 2014 and April 29, 2014; 8 WHEREAS, on May 27, 2014, these three purported shareholder actions were 9 consolidated under the caption, In re Google Inc. Shareholder Derivative Litigation, Lead Case 10 No. 1-14-CV-261485 (the "State Court Action"); 11 WHEREAS, on December 3, 2014, the State Court Action defendants filed a motion for 12 summary judgment on statute of limitations grounds and the hearing on defendants' motion is 13 scheduled for September 4, 2015; 14 WHEREAS, there appears to be substantial overlap between the allegations, facts, 15 defenses, and parties in the instant action and the State Court Action, and the resolution of the 16 statute of limitations issue in the State Court Action bears directly on Plaintiff's state law claims 17 in this action; 18 WHEREAS, the parties have met and conferred regarding whether the instant action 19 should be stayed pending resolution of the State Court Action; 20 WHEREAS, during these discussions counsel for Plaintiff informed counsel for 21 Defendants that Plaintiff was considering intervening or seeking to brief the statute of limitations 22 issue as an interested party in the State Court Action; 23 WHEREAS, counsel for Defendants advised that they would not oppose such 24 intervention or briefing, assuming Plaintiff agreed to stipulate to a stay of this action, but would 25 1 26 Individual Defendants Larry Page, Sergey M. Brin, Eric E. Schmidt, L. John Doerr, Diane B. Greene, John L. Hennessy, Ann Mather, Paul S. Otellini, K. Ram Shriram, Shirley M. 27 Tilghman, Michael J. Moritz, Arthur D. Levinson, Robert Alan Eustace, Omid R. Kordestani, Jonathan J. Rosenberg, Shona L. Brown, Arnnon Geshuri, and Nominal Defendant Google Inc. 28 ("Google") (collectively, "Defendants"). STIPULATION AND [] -1- ORDER STAYING ACTION CASE NO. 5:15-CV-01334-RMW 1 oppose any efforts by Plaintiff to obtain the discovery Defendants have provided to date in the 2 State Court Action; 3 WHEREAS, under the circumstances of this case, the parties agree that a stay of this 4 action pending resolution of the State Court Action will likely promote efficiency for the parties 5 and the Court, and will avoid the risk of inconsistent rulings on the statute of limitations issue on 6 Plaintiff's state law claims; 7 NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED, by Plaintiff and 8 Defendants, through their undersigned counsel of record and subject to Court approval, as 9 follows: 10 1. This action, including all deadlines and hearings, is hereby stayed pending 11 resolution of the State Court Action; 12 2. Plaintiff and Defendants shall submit a brief Joint Status Report apprising the 13 Court of the status of the State Court Action on September 18, 2015, and continuing every three 14 months thereafter; 15 3. Within thirty (30) days after the expiration of the stay, the parties shall meet and 16 confer and submit a proposed scheduled to the Court for any further proceedings in this action; 17 and 18 4. By entering into this Stipulation, the parties do not waive any rights not 19 specifically addressed herein, including the right to file any motion that any party deems 20 appropriate, once this action is no longer stayed. 21 IT IS SO STIPULATED. 22 23 Dated: June 22, 2015 WILSON SONSINI GOODRICH & ROSATI BORIS FELDMAN 24 ELIZABETH C. PETERSON 25 By: /s/ Elizabeth C. Peterson 26 Elizabeth C. Peterson 27 650 Page Mill Road Palo Alto, California 94304-1050 28 Telephone: (650) 493-9300 Fax: (650) 565-5100 STIPULATION AND -2- ORDER STAYING ACTION CASE NO. 5:15-CV-01334-RMW 1 Counsel for Defendants Larry Page, Sergey M. 2 Brin, Eric E. Schmidt, L. John Doerr, Diane B. Greene, John L. Hennessy, Ann Mather, Paul S. 3 Otellini, K. Ram Shriram, Shirley M. Tilghman, Michael J. Moritz, Arthur D. Levinson, Robert 4 Alan Eustace, Omid R. Kordestani, Jonathan J. Rosenberg, Shona L. Brown, Arnnon Geshuri, 5 and Nominal Defendant Google Inc. 6 7 Dated: June 22, 2015 SCOTT+SCOTT, ATTORNEYS AT LAW, LLP JOHN JASNOCH 8 9 By: /s/ John Jasnoch (with permission) John Jasnoch 10 707 Broadway, Suite 1000 11 San Diego, California 92101 Telephone: (619) 233-4565 12 Fax: (619) 233-0508 13 SCOTT+SCOTT, ATTORNEYS AT LAW, LLP 14 JUDY SCOLNICK THOMAS L. LAUGHLIN, IV 15 The Chrysler Building 405 Lexington Avenue, 40th Floor 16 New York, New York 10174 Telephone: (212) 223-6444 17 Fax: (212) 223-6334 18 Counsel for Plaintiff 19 20 I, Elizabeth C. Peterson, am the ECF user whose ID and password are being used to file this STIPULATION AND [PROPOSED] ORDER STAYING ACTION. In compliance with 21 General Order 45, X.B., I hereby attest that John Jasnoch has concurred in this filing. 22 23 24 25 26 27 28 *** STIPULATION AND [] -3- ORDER STAYING ACTION CASE NO. 5:15-CV-01334-RMW 1 [] ORDER 2 PURSUANT TO STIPULATION, IT IS SO ORDERED. 3 4 DATED: THE HONORABLE RONALD M. WHYTE 5 UNITED STATES DISTRICT JUDGE 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 STIPULATION AND [] -4- ORDER STAYING ACTION CASE NO. 5:15-CV-01334-RMW