ALBERS v. COMMONWEALTH CAPITAL CORP., 6:16-cv-1713-Orl-37DCI. (2017)
Court: District Court, M.D. Florida
Number: infdco20170123675
Visitors: 8
Filed: Jan. 19, 2017
Latest Update: Jan. 19, 2017
Summary: ORDER ROY B. DALTON, Jr. , District Judge . This cause is before the Court on the parties Joint Motion to Stay Proceedings and for Relief from Case-Management Requirements (Doc. 27), filed January 18, 2017. In this Private Securities Litigation Reform Act (" PSLRA ") action, Defendants filed a Motion to Dismiss the Complaint (Doc. 25 (" MTD ")), and the parties then jointly moved to stay the proceedings in accordance with 15 U.S.C. 78u-4(b)(3)(B) (Doc. 27 (" Motion to Stay ")). Under 7
Summary: ORDER ROY B. DALTON, Jr. , District Judge . This cause is before the Court on the parties Joint Motion to Stay Proceedings and for Relief from Case-Management Requirements (Doc. 27), filed January 18, 2017. In this Private Securities Litigation Reform Act (" PSLRA ") action, Defendants filed a Motion to Dismiss the Complaint (Doc. 25 (" MTD ")), and the parties then jointly moved to stay the proceedings in accordance with 15 U.S.C. 78u-4(b)(3)(B) (Doc. 27 (" Motion to Stay ")). Under 78..
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ORDER
ROY B. DALTON, Jr., District Judge.
This cause is before the Court on the parties Joint Motion to Stay Proceedings and for Relief from Case-Management Requirements (Doc. 27), filed January 18, 2017.
In this Private Securities Litigation Reform Act ("PSLRA") action, Defendants filed a Motion to Dismiss the Complaint (Doc. 25 ("MTD")), and the parties then jointly moved to stay the proceedings in accordance with 15 U.S.C. § 78u-4(b)(3)(B) (Doc. 27 ("Motion to Stay")). Under § 78u-4(b)(3)(B), "all discovery and other proceedings [in PSLRA actions] shall be stayed during the pendency of any motion to dismiss, unless the court finds upon the motion of any party that particularized discovery is necessary to preserve evidence or to prevent undue prejudice to that party." In accordance with this statutory provision, the Court finds that the Motion to Stay is due to be granted pending resolution of the MTD and further order of this Court. As such, the Court finds that the Order requiring the parties to file a joint Case Management Report (Doc. 26) is due to be vacated.
CONCLUSION
Accordingly, it is hereby ORDERED AND ADJUDGED:
1. The Order dated January 17, 2017 (Doc. 26) is VACATED.
2. The Joint Motion to Stay Proceedings and for Relief from Case-Management Requirements (Doc. 27) is GRANTED.
3. This action is STAYED until further Order of the Court.
DONE AND ORDERED.
Source: Leagle
