Filed: Sep. 21, 2012
Latest Update: Sep. 21, 2012
Summary: STIPULATION AND [PROPOSED] ORDER CONSOLIDATING DEFERRING DEFENDANTS' DEADLINES TO RESPOND RELATED ACTIONS AND CASES AND DEFERRING RESPONSES JEFFREY S. WHITE, District Judge. All parties, through their undersigned counsel, hereby submit this Stipulation and [Proposed] Order consolidating related actions and deferring Defendants' deadlines to respond to the complaints. RECITALS A. Between July 30 and August 13, 2012, the above-captioned class actions (the "Related Actions") were filed in t
Summary: STIPULATION AND [PROPOSED] ORDER CONSOLIDATING DEFERRING DEFENDANTS' DEADLINES TO RESPOND RELATED ACTIONS AND CASES AND DEFERRING RESPONSES JEFFREY S. WHITE, District Judge. All parties, through their undersigned counsel, hereby submit this Stipulation and [Proposed] Order consolidating related actions and deferring Defendants' deadlines to respond to the complaints. RECITALS A. Between July 30 and August 13, 2012, the above-captioned class actions (the "Related Actions") were filed in th..
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STIPULATION AND [PROPOSED] ORDER CONSOLIDATING DEFERRING DEFENDANTS' DEADLINES TO RESPOND RELATED ACTIONS AND CASES AND DEFERRING RESPONSES
JEFFREY S. WHITE, District Judge.
All parties, through their undersigned counsel, hereby submit this Stipulation and [Proposed] Order consolidating related actions and deferring Defendants' deadlines to respond to the complaints.
RECITALS
A. Between July 30 and August 13, 2012, the above-captioned class actions (the "Related Actions") were filed in this Court. The Related Actions allege violations of the federal securities laws by Zynga Inc., certain of its directors, officers, and executives, as well as underwriters of Zynga's initial and secondary public offerings of stock on the NASDAQ exchange market.
B. On August 30, 2012, the parties filed a Joint Administrative Motion to Relate Actions. (Doc. 24.)
C. On September 17, 2012, the Court issued an order relating the actions. (Doc. 27.)
D. The Related Actions cases are governed by the Private Securities Litigation Reform Act of 1995 (the "Reform Act").
E. The Reform Act requires courts to address consolidation of related actions before appointing a lead plaintiff and lead counsel. See 15 U.S.C. §§ 77z-1(a)(3)(B), 78u-4(a)(3)(B).
F. Motions for appointment of lead plaintiff and lead counsel are due on October 1, 2012.
G. The parties believe that the actions should be consolidated pursuant to Federal Rule of Civil Procedure 42(a) because they involve common questions of law and fact, and substantially the same parties, events, and claims under the federal securities laws.
H. The parties further believe that consolidation of the Related Actions would serve the interests of judicial economy and avoid the potential for conflicting rulings.
THEREFORE, IT IS HEREBY STIPULATED AND AGREED AS FOLLOWS:
I. CONSOLIDATION
1. The parties agree that the following actions should be consolidated for all purposes, including pre-trial proceedings and trial:
ABBREVIATED CASE NAME CASE NUMBER DATE FILED
Destafano v. Zynga, Inc., et al. 12-CV-4007-JSW July 30, 2012
Campus v. Zynga Inc., et al. 12-CV-4048-JSW August 1, 2012
Diemand v. Zynga Inc., et al. 12-CV-4059-JSW August 1, 2012
Phillips v. Zynga, Inc., et al. 12-CV-4064-JSW August 1, 2012
Walker v. Zynga, Inc., et al. 12-CV-4066-JSW August 2, 2012
Gaines v. Zynga Inc., et al. 12-CV-4133-JSW August 6, 2012
Moayyed v. Zynga, Inc., et al. 12-CV-4250-JSW August 13, 2012
2. Every pleading filed in the consolidated action, or in any separate action included herein, shall bear the following caption:
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
IN RE ZYNGA INC. SECURITIES ) CLASS ACTION
LITIGATION )
)
) Lead Case No. 12-cv-04007-JSW
)
) Consolidated with Case Nos.
__________________________________
This Document Relates To: ) 12-CV-4048-JSW
) 12-CV-4059-JSW
All Actions. ) 12-CV-4064-JSW
) 12-CV-4066-JSW
) 12-CV-4133-JSW
) 12-CV-4250-JSW
)
)
_________________________________)
3. The files of the consolidated action shall be maintained in one file under Lead Case No. 12-cv-04007-JSW.
4. This Order shall apply to each case, arising out of the same or substantially the same transactions or events as these cases, which is subsequently filed in or deemed related to the existing Related Actions.
II. RESPONSE DEADLINE DEFERRED
5. Defendants shall have no obligation to answer or otherwise respond to any of the complaints filed in the Related Actions or any subsequently related action until after the Court appoints a lead plaintiff and lead counsel for the consolidated actions pursuant to the provisions of the Reform Act.
6. Defendants will meet and confer with the court-appointed lead counsel within fourteen days after the Court makes its appointment to discuss a schedule for the filing of a consolidated amended complaint and Defendants' response, including their currently anticipated motions to dismiss.
[PROPOSED] ORDER
Pursuant to stipulation, it is SO ORDERED.
