Broering v. Oldham et al

Filing 9

STIPULATION and ORDER signed by Judge John A. Mendez on 5/18/12: This action shall be stayed for a period of 90 days from the date of this Order, unless all of the parties mutually agree to lift the stay at an earlier date. (Kaminski, H)

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Rosemary M. Rivas (State Bar No. 209147)
rrivas@finkelsteinthompson
Danielle A. Stoumbos (State Bar No. 264784)
[e-mail]
FINKELSTEIN THOMPSON LLP
100 Bush Street, Suite 1450
San Francisco, California 94104
Telephone: [phone]
Facsimile: [phone]
Attorneys for Individual and Representative
Plaintiff Jerome C. Broering

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James N. Kramer (Bar. No. 154709)
[e-mail]
Alexander K. Talarides (Bar No. 268068)
[e-mail]
ORRICK, HERRINGTON & SUTCLIFFE LLP
The Orrick Building
405 Howard Street
San Francisco, California 94105
Telephone: [phone]
Facsimile: [phone]
Counsel for SureWest Communications, Steven C. Oldham,
Kirk C. Doyle, Guy R. Gibson, Robert D. Kittredge,
John R. Roberts, III, Timothy D. Taron, and Roger J. Valine

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Rocky N. Unruh (Bar No. 84049)
[e-mail]
SCHIFF HARDIN LLP
One Market, Suite 3200
San Francisco, CA 94105
Telephone: [phone]
Facsimile: [phone]

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Counsel for Consolidated Communications Holdings, Inc.,
WH Acquisition Corp., and WH Acquisition II Corp.

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STIPULATION AND PROPOSED ORDER TO STAY ACTION
CASE NO. 2-12-CV-01025-JAM-EFB

UNITED STATES DISTRICT COURT

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EASTERN DISTRICT OF CALIFORNIA

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JEROME C. BROERING, on behalf of himself and Case No. 2:12-cv-01025-JAM-EFB
all others similarly situated,
STIPULATION AND PROPOSED ORDER TO
Plaintiff,
STAY ACTION
vs.

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STEVEN C. OLDHAM, KIRK C. DOYLE, GUY R. JUDGE: HON. JOHN A. MENDEZ
GIBSON, ROBERT D. KITTREDGE, JOHN R.
ROBERTS, III, TIMOTHY D. TARON, ROGER J.
VALINE, CONSOLIDATED
COMMUNICATIONS HOLDINGS, INC.,
SUREWEST COMMUNICATIONS, WH
ACQUISITION CORP., and WH ACQUISITION II
CORP.,
Defendants.

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STIPULATION AND PROPOSED ORDER TO STAY ACTION
CASE NO. 2-12-CV-01025-JAM-EFB

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Plaintiff JEROME C. BROERING (“Plaintiff”) and Defendants STEVEN C. OLDHAM, KIRK

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C. DOYLE, GUY R. GIBSON, ROBERT D. KITTREDGE, JOHN R. ROBERTS, III, TIMOTHY D.
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TARON, ROGER J. VALINE, CONSOLIDATED COMMUNICATIONS HOLDINGS, INC.,

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SUREWEST COMMUNICATIONS, WH ACQUISITION CORP., and WH ACQUISITION II CORP.

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(collectively, “Defendants”), by and through their undersigned counsel, hereby stipulate to stay the

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above captioned action upon the terms and conditions set forth below:

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WHEREAS, Plaintiff filed the above-captioned action (the “Federal Action”) on April 18, 2012,

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as a putative shareholder class action lawsuit on behalf of the public shareholders of SureWest

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Communications (“SureWest”) against Defendants for breach of fiduciary duties and aiding and

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abetting in connection with the proposed sale of SureWest to Consolidated Communications Holdings,

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Inc. (“Consolidated) and its affiliates (the “Proposed Transactions”);

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WHEREAS, the Federal Action seeks to enjoin the consummation of the Proposed Transaction;
WHEREAS, between February 17, 2012 and March 26, 2012, five putative shareholder class

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actions were filed against Defendants in the Superior Court of California in and for the County of Placer

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(“State Actions”), seeking to enjoin the consummation of the Proposed Transaction;

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WHEREAS, on March 14, 2012, the Placer County Superior Court entered an order
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consolidating the State Actions under the caption In re SureWest Communications Shareholder

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Litigation, Case No. SCV-0030655 (the “Consolidated State Court Action”);

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WHEREAS, on April 10, 2012, the Placer County Superior Court appointed lead counsel in the
Consolidated State Court Action;

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WHEREAS, the Federal Action and the Consolidated State Court Action arise out of the same
facts, have overlapping claims, and seek to enjoin the Proposed Transaction;

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STIPULATION AND PROPOSED ORDER TO STAY ACTION
CASE NO. 2-12-CV-01025-JAM-EFB

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WHEREAS, the parties agree that staying the Federal Action at this time would avoid the
potentially wasteful expenditure of party and judicial resources and enhance judicial economy;
NOW THEREFORE, IT IS STIPULATED AND AGREED by Plaintiff and Defendants, by and
through their respective counsel, that the above-captioned action shall be stayed for a period of 90 days

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from the date of the Order set forth below, unless all of the parties mutually agree to lift the stay at an
earlier date.

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DATED: May 17, 2012

FINKELSTEIN THOMPSON LLP
By: /s/ Rosemary M. Rivas
Rosemary M. Rivas (Bar No. 209147)
[e-mail]
Danielle A. Stoumbos (Bar No. 264784)
[e-mail]
100 Bush Street, Suite 1450
San Francisco, California 94104
Telephone: [phone]
Facsimile: [phone]

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Counsel for Individual and Reprepsentative Plaintiff
Jerome C. Broering

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DATED: May 17, 2012

ORRICK, HERRINGTON & SUTCLIFFE LLP
By: /s/ James N. Kramer
James N. Kramer (Bar. No. 154709)
[e-mail]
Alexander K. Talarides (Bar No. 268068)
[e-mail]
The Orrick Building
405 Howard Street
San Francisco, California 94105
Telephone: [phone]
Facsimile: [phone]

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Counsel for SureWest Communications, Steven C. Oldham,
Kirk C. Doyle, Guy R. Gibson, Robert D. Kittredge, John
R. Roberts, III, Timothy D. Taron, and Roger J. Valine

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STIPULATION AND PROPOSED ORDER TO STAY ACTION
CASE NO. 2-12-CV-01025-JAM-EFB

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DATED: May 17, 2012

SCHIFF HARDIN LLP
By: /s/ Rocky N. Unrh
Rocky N. Unruh (Bar No. 84049)
[e-mail]
One Market, Suite 3200
San Francisco, CA 94105
Telephone: [phone]
Facsimile: [phone]

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Counsel for Consolidated Communications Holdings, Inc.,
WH Acquisition Corp., and WH Acquisition II Corp.

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IT IS SO ORDERED.
DATED: May 18, 2012

/s/ John A. Mendez
JOHN A. MENDEZ
UNITED STATES DISTRICT JUDGE

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STIPULATION AND PROPOSED ORDER TO STAY ACTION
CASE NO. 2-12-CV-01025-JAM-EFB