Filed: Jan. 23, 2013
Latest Update: Jan. 23, 2013
Summary: STIPULATION AND [PROPOSED] ORDER CONTINUING CASE MANAGEMENT CONFERENCE AND EXTENDING DEADLINE FOR PLAINTIFFS' CONSOLIDATED COMPLAINT RICHARD SEEBORG, District Judge. WHEREAS, three related shareholder derivative actions 1 against certain of the officers and directors of OCZ Technology Group, Inc. ("OCZ" or the "Company") were filed in this Court; WHEREAS, on January 14, 2013, the Court entered an order consolidating the Related Actions, appointing Co-Lead Counsel, and setting a deadline of J
Summary: STIPULATION AND [PROPOSED] ORDER CONTINUING CASE MANAGEMENT CONFERENCE AND EXTENDING DEADLINE FOR PLAINTIFFS' CONSOLIDATED COMPLAINT RICHARD SEEBORG, District Judge. WHEREAS, three related shareholder derivative actions 1 against certain of the officers and directors of OCZ Technology Group, Inc. ("OCZ" or the "Company") were filed in this Court; WHEREAS, on January 14, 2013, the Court entered an order consolidating the Related Actions, appointing Co-Lead Counsel, and setting a deadline of Ja..
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STIPULATION AND [PROPOSED] ORDER CONTINUING CASE MANAGEMENT CONFERENCE AND EXTENDING DEADLINE FOR PLAINTIFFS' CONSOLIDATED COMPLAINT
RICHARD SEEBORG, District Judge.
WHEREAS, three related shareholder derivative actions1 against certain of the officers and directors of OCZ Technology Group, Inc. ("OCZ" or the "Company") were filed in this Court;
WHEREAS, on January 14, 2013, the Court entered an order consolidating the Related Actions, appointing Co-Lead Counsel, and setting a deadline of January 25, 2013, for plaintiffs to file a consolidated complaint;
WHEREAS, the initial Case Management Conference ("CMC") in the Cassiman and Vanderschaaf actions are set for February 7, 2013, and the initial CMC in the Morton Action is set for March 21, 2013;
WHEREAS, OCZ has announced that it intends to restate its financial results for certain fiscal periods;
WHEREAS, plaintiffs have requested that the deadline to file the consolidated complaint be extended until after OCZ files its restated financial results with the Securities and Exchange Commission ("SEC"), and defendants have agreed to plaintiffs' request; and
WHEREAS, the parties have met and conferred regarding the upcoming CMCs and the related ADR and CMC deadlines and agree that, given the current procedural posture, and in particular, the fact that the operative complaint has not yet been filed, the CMC and related CMC and ADR deadlines should be extended as set forth below.
NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED, subject to Court approval, by plaintiffs and defendants, through their respective counsel of record, as follows:
1. The CMCs scheduled for February 7, 2013, and March 21, 2013, and the related CMC and ADR deadlines, are vacated. The initial CMC for this consolidated derivative action will be rescheduled to occur on the same date and time as the hearing on defendants' anticipated motion to dismiss, as discussed below.
2. The parties shall file a Joint Case Management Statement at least one week prior to the initial CMC.
3. Plaintiffs shall file a Consolidated Complaint ("Consolidated Complaint") within 21 days after the Company files with the SEC its financial statements for the first quarter of fiscal 2013, as well as the results for the fiscal year 2012, including any and all restatements, unless otherwise agreed upon by the parties or ordered by the Court.
4. Defendants shall respond to the Consolidated Complaint within forty-five days after service, unless otherwise agreed by the parties or ordered by the Court. In the event that defendants file any motions directed at the Consolidated Complaint, the opposition and reply briefs shall be filed within forty-five and twenty-one days, respectively, of the motions, unless otherwise agreed upon by the parties or ordered by the Court. The parties agree to confer to select a hearing date for any such motions.
Dated: January 23, 2013 ROBBINS ARROYO LLP
BRIAN J. ROBBINS
GEORGE C. AGUILAR
LAUREN N. OCHENDUSZKO
s/ George C. Aguilar
GEORGE C. AGUILAR
600 B Street, Suite 1900
San Diego, CA 92101
Telephone: (619) 525-3990
Facsimile: (619) 525-3991
brobbins@robbinsarroyo.com
gaguilar@robbinsarroyo.com
lochenduszko@robbinsarroyo.com
ROBBINS GELLER RUDMAN
& DOWD LLP
TRAVIS E. DOWNS III
BENNY C. GOODMAN III
ERIK W. LUEDEKE
655 West Broadway, Suite 1900
San Diego, CA 92101
Telephone: (619) 231-1058
Facsimile: (619) 231-7423
travisd@rgrdlaw.com
bennyg@rgrdlaw.com
eluedeke@rgrdlaw.com
ROBBINS GELLER RUDMAN
& DOWD LLP
SHAWN A. WILLIAMS
Post Montgomery Center
One Montgomery Street, Suite 1800
San Francisco, CA 94104
Telephone: (415) 288-4545
Facsimile: (415) 288-4534
shawnw@rgrdlaw.com
Co-Lead Counsel for Plaintiffs
Dated: January 23, 2013 WILSON SONSINI GOODRICH & ROSATI
BORIS FELDMAN
DIANE WALTERS
s/ Diane Walters
DIANE WALTERS
650 Page Mill Road
Palo Alto, CA 94304
Telephone: (650) 493-9300
Facsimile: (650) 493-6811
boris.feldman@wsgr.com
dwalters@wsgr.com
Counsel for Defendants Ralph H. Schmitt, Adam
J. Epstein, Richard L. Hunter, Russell J. Knittel,
and Nominal Defendant OCZ Technology Group,
Inc.
Dated: January 23, 2013 HOGAN LOVELLS LLP
s/ Norman J. Blears
NORMAN J. BLEARS
525 University Avenue 4th Floor
Palo Alto, California 94301
Telephone: (650) 463-4000
Facsimile: (650) 463-4199
Norman.blears@hoganlovells.com
Counsel for Defendant Arthur F. Knapp, Jr.
I, George C. Aguilar, am the ECF User whose ID and password are being used to file this Stipulation and [Proposed] Order Continuing Case Management Conference and Extending Deadline for Plaintiffs' Consolidated Complaint. In compliance with General Order No. 45, X.B., I hereby attest that Diane Walters and Norman J. Blears have concurred in this filing.
s/ George C. Aguilar
GEORGE C. AGUILAR
* * *
ORDER
PURSUANT TO STIPULATION, IT IS SO ORDERED.
