Copia Claims v. Calif Infrastructure and Economic Dev. Bank

Filing 56

STIPULATION and ORDER signed by Judge Garland E. Burrell, Jr. on 2/4/2010 ORDERING 55 Defendants will move to dismiss the First Amended Consolidated Complaint on or before 2/5/2010; Lead Plaintiff will file and serve any papers in opposition to Dft s' motions to dismiss to the Consolidated Complaint on or before 3/5/2010; Dfts will file and serve any reply papers in support of their motions to dismiss on or before 3/24/2010; A hearing on Dfts' 47 motions to dismiss the Consolidated Complaint will be held on 4/5/2010 at 09:00 AM in Courtroom 10 (GEB) before Judge Garland E. Burrell Jr., or at such other time as is convenient for the Court. (Reader, L)

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KEVIN P. MUCK (CSB No. 120918) CATHERINE KEVANE (CSB No. 215501) FENWICK & WEST LLP 555 California Street, 12th Floor San Francisco, California 94104 Telephone: [phone] Facsimile: [phone] E-mail: [e-mail] [e-mail] Attorneys for Defendant Orrick, Herrington & Sutcliffe LLP

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF CALIFORNIA SACRAMENTO DIVISION

WILLIAM GEORGE, on behalf of himself and all other persons similarly situated, Plaintiff, vs. CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK, a public instrumentality of the State of California and ORRICK, HERRINGTON & SUTCLIFFE, LLP, an entity, Defendants.

Case No.: 2:09-CV-01610-GEB-DAD STIPULATION AND ORDER REGARDING FILING OF FIRST AMENDED CONSOLIDATED COMPLAINT AND RESPONSE THERETO

WHEREAS: 1. This case, an alleged class action asserting claims under Section 10(b) of the

Securities Exchange Act of 1934 filed on June 10, 2009 [Docket No. 1], is subject to the requirements of the Private Securities Litigation Reform Act of 1995 ("PSLRA"); 2. On August 4, 2009, the Court signed a stipulation and order [Docket No. 26] pursuant to 1
CASE NO. 2:09-CV-01610-GEB-DAD

STIPULATION AND [PROPOSED] ORDER RE: BRIEFING AND HEARING SCHEDULE FOR MOTION TO DISMISS FIRST AMENDED CONSOLIDATED COMPLAINT

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which: (a) within forty-five (45) days from the date that the Court appointed a lead plaintiff in this action pursuant to 15 U.S.C. § 78u-4(3)(B), such lead plaintiff was permitted to file a further amended complaint; and (b) within forty-five (45) days from the filing of such further amended complaint, defendants were to move, answer or otherwise respond to the Operative Complaint; 3. On September 15, 2009, the Court granted the motion of William George ("Lead

Plaintiff") to be appointed lead plaintiff [Docket No. 39], and on October 20, 2009 Lead Plaintiff filed a Consolidated Complaint for Violation of Section 10(b) of the Securities Exchange Act of 1934 and of Rule 10b-5 Promulgated Thereunder ("Consolidated Complaint") against Defendants California Infrastructure and Economic Development Bank ("I-Bank") and Orrick, Herrington & Sutcliffe, LLP ("Orrick") (collectively "Defendants") [Docket No. 40]; 4. On December 4, 2009, Defendants jointly filed a motion to dismiss the Consolidated

Complaint [Docket No. 47], and pursuant to agreement of the parties that motion was set for hearing on February 8, 2010; 5. Rather than oppose Defendants' motion to dismiss, Lead Plaintiff prepared and

submitted to the Court on December 28, 2009 a First Amended Consolidated Complaint for Violation of Section 10(b) of the Securities Exchange Act of 1934 and of Rule 10b-5(a), (b) and (c) Promulgated Thereunder ("First Amended Consolidated Complaint") [Docket No. 52]; 6. On January 6, 2010, the Court signed a Stipulation and Order (1) deeming the First

Amended Consolidated Complaint filed and superseding all prior pleadings, (2) taking Defendants' motion to dismiss the Consolidated Complaint, set for hearing on February 8, 2010, off calendar, and (3) requiring Defendants to move or otherwise respond to the First Amended Consolidated Complaint on or before February 5, 2010 [Docket No. 54]; and 6. Defendants intend to file a motion to dismiss the First Amended Consolidated

Complaint, and the parties have agreed upon a mutually acceptable briefing and hearing schedule for that motion. THEREFORE, IT IS HEREBY STIPULATED, by and among the undersigned counsel for the parties, that:
STIPULATION AND [PROPOSED] ORDER RE: BRIEFING AND HEARING SCHEDULE FOR MOTION TO DISMISS FIRST AMENDED CONSOLIDATED COMPLAINT

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CASE NO. 2:09-CV-01610-GEB-DAD

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1.

Pursuant to the Court's order of January 6, 2010, Defendants will move to dismiss the

First Amended Consolidated Complaint on or before February 5, 2010; 2. Lead Plaintiff will file and serve any papers in opposition to Defendants' motions to

dismiss to the Consolidated Complaint on or before March 5, 2010; 3. Defendants will file and serve any reply papers in support of their motions to dismiss

on or before March 24, 2010; 4. A hearing on Defendants' motions to dismiss the Consolidated Complaint will be held

on April 5, 2010 at 9:00 a.m., or at such other time as is convenient for the Court.

DATED: February 2, 2010

MCGRANE GREENFIELD LLP By: /s/ Christopher D. Sullivan Christopher D. Sullivan Attorneys for Plaintiff

DATED: February 2, 2010

FENWICK & WEST LLP By: /s/ Kevin P. Muck Kevin P. Muck Attorneys for Defendant ORRICK, HERRINGTON & SUTCLIFFE, LLP

DATED: February 2, 2010

ATTORNEY GENERAL OF CALIFORNIA By: /s/ Jeffrey A. Rich Jeffrey A. Rich Deputy Attorney General Attorneys for Defendant CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK

STIPULATION AND [PROPOSED] ORDER RE: BRIEFING AND HEARING SCHEDULE FOR MOTION TO DISMISS FIRST AMENDED CONSOLIDATED COMPLAINT

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STIPULATION AND [PROPOSED] ORDER RE: BRIEFING AND HEARING SCHEDULE FOR MOTION TO DISMISS FIRST AMENDED CONSOLIDATED COMPLAINT

I certify that a true copy of the foregoing was served electronically via the CM/ECF system on all counsel of record on this 2nd day of February, 2010.

/s/ Kevin P. Muck____________

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CASE NO. 2:09-CV-01610-GEB-DAD

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STIPULATION AND [PROPOSED] ORDER RE: BRIEFING AND HEARING SCHEDULE FOR MOTION TO DISMISS FIRST AMENDED CONSOLIDATED COMPLAINT

ORDER PURSUANT TO STIPULATION, IT IS ORDERED AS FOLLOWS: 1. Defendants will move to dismiss the First Amended Consolidated Complaint on or

before February 5, 2010; 2. Lead Plaintiff will file and serve any papers in opposition to Defendants' motions to

dismiss to the Consolidated Complaint on or before March 5, 2010; 3. Defendants will file and serve any reply papers in support of their motions to dismiss

on or before March 24, 2010; 4. A hearing on Defendants' motions to dismiss the Consolidated Complaint will be held

on April 5, 2010 at 9:00 a.m., or at such other time as is convenient for the Court.

IT IS SO ORDERED. Dated: February 4, 2010 _____________________________________________ GARLAND E. BURRELL, JR. United States District Judge

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CASE NO. 2:09-CV-01610-GEB-DAD