Filed: Apr. 27, 2018
Latest Update: Apr. 27, 2018
Summary: STIPULATION AND ORDER REGARDING SERVICE AND PROCEDURES UNDER PRIVATE SECURITIES LITIGATION REFORM ACT JOHN A. MENDEZ , District Judge . The parties submit the following stipulation for the Court's approval: WHEREAS, on March 30, 2018, Plaintiffs filed the putative class action complaint in this action, asserting, among other things, claims under Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 promulgated thereunder, as well as claims under Sections 12(a
Summary: STIPULATION AND ORDER REGARDING SERVICE AND PROCEDURES UNDER PRIVATE SECURITIES LITIGATION REFORM ACT JOHN A. MENDEZ , District Judge . The parties submit the following stipulation for the Court's approval: WHEREAS, on March 30, 2018, Plaintiffs filed the putative class action complaint in this action, asserting, among other things, claims under Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 promulgated thereunder, as well as claims under Sections 12(a)..
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STIPULATION AND ORDER REGARDING SERVICE AND PROCEDURES UNDER PRIVATE SECURITIES LITIGATION REFORM ACT
JOHN A. MENDEZ, District Judge.
The parties submit the following stipulation for the Court's approval:
WHEREAS, on March 30, 2018, Plaintiffs filed the putative class action complaint in this action, asserting, among other things, claims under Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 promulgated thereunder, as well as claims under Sections 12(a)(2) and 15 of the Securities Act of 1933 (Dkt. No. 1);
WHEREAS, this action is governed by the Private Securities Litigation Reform Act of 1995 (the "PSLRA");
WHEREAS, pursuant to Section 21D(a)(3)(B) of the Exchange Act, 15 U.S.C. § 78u-4(a)(3)(B), as amended by the PSLRA, motions for appointment as Lead Plaintiff in this action and for approval of Lead Counsel are due on May 29, 2018;
WHEREAS, it is anticipated that following the Court's ruling, the appointed Lead Plaintiff will file an amended complaint that supersedes the pending complaint;
WHEREAS, counsel for the parties agree that to avoid duplicative effort, unnecessary motion practice, and waste of judicial resources, there is good cause to provide that Defendants need not respond to the pending complaint and will instead respond to the anticipated subsequent pleading;
WHEREAS, counsel for Defendants has agreed to accept service of the complaint on behalf of all Defendants, provided that no responsive pleading to the current complaint is required;
NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED, subject to Court approval, as follows:
1. Defendants accept service of the complaint.
2. Defendants shall not be required to answer, move, or otherwise respond to the pending complaint.
3. The schedule for filing an amended complaint and briefing any motions to dismiss pursuant to Rule 12(b)(6) of the Federal Rules of Civil Procedure shall be as follows:
a. The amended complaint shall be filed within 60 days of the Court's Order appointing Lead Plaintiff and approving the selection of Lead Counsel.
b. Motions to dismiss and opening briefs in support thereof shall be filed within 60 days of the filing of the amended complaint.
c. The opposition shall be due within 60 days of the filing of the motion to dismiss.
d. Replies in support of the motions to dismiss shall be due within 45 days of the filing of the opposition briefs.
4. The parties expressly reserve all other rights of any kind.
IT IS SO ORDERED.
