STIPULATION AND ORDER REGARDING SETTLEMENT AND VACATING THE APRIL 7, 2011 HEARING AND CASE MANAGEMENT CONFERENCE

CLAUDIA WILKEN, District Judge.

WHEREAS, on August 31, 2010, this Court dismissed plaintiffs' [Corrected] Consolidated Class Action Complaint for Violations of the Federal Securities Laws in the above-captioned action (the "Action"), with leave to amend;

WHEREAS, on October 4, 2010, plaintiffs filed their [Corrected] First Amended Class Action Complaint for Violations of the Federal Securities Laws (the "FAC");

WHEREAS, defendants filed a motion to dismiss the FAC on October 14, 2010 and briefing has been completed on this motion;

WHEREAS, on March 14, 2011, by stipulation, the Court continued the hearing on defendants' motion to dismiss and the case management conference to April 7, 2011 at 2:00 p.m. to allow the parties to continue working with the Honorable Edward Infante (Ret.) regarding a potential resolution of this Action;

WHEREAS, the parties have now reached an agreement in principle to settle this Action;

WHEREAS, counsel for plaintiffs and counsel for defendants are currently working together on a Stipulation of Settlement to be submitted to the Court no later than April 28, 2011;

WHEREAS, the parties request that the Court set a hearing on preliminary approval of the settlement for May 12, 2011, or as the motion will be unopposed, the Court may shorten this time at the Court's convenience;

THEREFORE, IT IS HEREBY STIPULATED AND AGREED, by and between the undersigned, subject to Court approval, as follows:

1. The hearing on defendants' motion to dismiss, and the case management conference, currently scheduled for April 7, 2011 shall be vacated.

2. Counsel for plaintiffs and counsel for defendants shall submit a Stipulation of Settlement to the Court no later than April 28, 2011.

3. The Court shall schedule a hearing on preliminary approval of the settlement for May 12, 2011 or as soon as is convenient for the Court.

IT IS SO STIPULATED THROUGH COUNSEL OF RECORD.

I, Daniel J. Pfefferbaum, am the ECF User whose ID and password are being used to file this Stipulation and [Proposed] Order Regarding Settlement And Vacating the April 7, 2011 Hearing And Case Management Conference. In compliance with General Order No. 45, X.B., I hereby attest that Ignacio E. Salceda has concurred in this filing.

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ORDER

PURSUANT TO STIPULATION, IT IS SO ORDERED, except that motion to dismiss is denied without prejudice. The Court is not available for a hearing on May 12 or 19.

CERTIFICATE OF SERVICE

I hereby certify that on March 31, 2011, I authorized the electronic filing of the foregoing with the Clerk of the Court using the CM/ECF system which will send notification of such filing to the e-mail addresses denoted on the attached Electronic Mail Notice List, and I hereby certify that I caused to be mailed the foregoing document or paper via the United States Postal Service to the non-CM/ECF participants indicated on the attached Manual Notice List.

I certify under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed on March 31, 2011.