Parish et al v. Avida et al

Filing 55

STIPULATION AND ORDER. Signed by Judge Edward M. Chen on 11/24/08. (bpf, COURT STAFF) (Filed on 11/24/2008)

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 SCHIFFRIN BARROWAY TOPAZ & KESSLER, LLP Alan R. Plutzik, Of Counsel (Bar No. 077785) L. Timothy Fisher, Of Counsel (Bar No. 191626) 2125 Oak Grove Road, Suite 120 Walnut Creek, California 94598 Telephone: (925) 9450770 Facsimile: (925) 9458792 - and Lee D. Rudy Michael J. Hynes James A. Maro 280 King of Prussia Road Radnor, PA 19087 Telephone: (610) 6677706 Facsimile: (610) 6677056 Counsel for Lead Plaintiffs Trueman Parish and Kevin Fennimore UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA INDIANA STATE DISTRICT COUNSEL LABORERS AND HOD CARRIERS PENSION FUND, Derivatively on Behalf of Electronics for Imaging, Inc., et al., Plaintiffs, v. GUY GEHT, et al., and Defendants, STIPULATION AND [PROPOSED] ORDER DISMISSING ACTION WITH PREJUDICE Case No. C06-7274 EMC (Related Cases) (Consolidate case with C07-0698) ELECTRONICS FOR IMAGING, INC., a Delaware Corporation Nominal Defendant. [CAPTION CONTINUES ON NEXT PAGE] STIPULATION AND [PROPOSED] ORDER DISMISSING ACTION WITH PREJUDICE Case No. C06-7274 -1- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 TRUEMAN PARISH, et al., Plaintiffs, v. DAN AVIDA, et al., and Defendants, 0698 Case No. c07-0689 EMC (Related Cases) (Consolidate case with C06-7274) ELECTRONICS FOR IMAGING, INC., a Delaware Corporation Nominal Defendant. WHEREAS, on November 27, 2006, Plaintiff Indiana State District Counsel of Laborers and HOD Carriers Pension Fund ("Indiana") filed a shareholder derivative action purportedly in behalf of Electronics For Imaging, Inc. ("EFI"), asserting claims against the Defendants. WHEREAS, on December 5, 2006, Defendant Thomas I. Unterberg removed a shareholder derivative action purportedly filed in behalf of EFI, which was filed in the Superior Court of California County of San Mateo by Plaintiff City of Ann Arbor Employees' Retirement System ("Ann Arbor") on November 22, 2006. WHEREAS, on February 2, 2007, Plaintiffs, Trueman Parish ("Parish") and Kevin Fennimore ("Fennimore") (collectively, the "Lead Plaintiffs"), filed a related shareholder action against EFI and certain individual defendants. WHEREAS, by letter dated March 20, 2007, which was filed with the Court, Ann Arbor requested Court approval to withdrew its complaint without prejudice, as well as its Opposition to Defendant Unterberg' Motion to Consolidate All Actions. On April 3, 2007, the Court entered an Order granting Ann Arbor's request for court approval of voluntary dismissal without prejudice. WHEREAS, on April 12, 2007, the Court entered an order appointing Parish and Fennimore Lead Plaintiffs and Schiffrin Barroway Topaz & Kessler, LLP Lead Counsel. In addition, the remaining matters were consolidated and a case management order setting a briefing schedule was entered on April 18, 2007 (the "Case Management Order"). In accordance with the STIPULATION AND [PROPOSED] ORDER DISMISSING ACTION WITH PREJUDICE Case No. C06-7274 -2- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Case Management Order, Plaintiffs filed their consolidated amended complaint on May 24, 2007 (the "Consolidated Complaint"). WHEREAS, on July 25, 2007, the Court granted Lead Plaintiffs unopposed motion to stay the proceedings in the above-referenced case in favor of City of Ann Arbor v. Electronics for Imaging, Inc. (DE CH CA2797-VCL), a similar derivative action pending in the Chancery Court of Delaware (the "Delaware Action"). WHEREAS, the Delaware Action has been concluded by means of a settlement, which completely resolved the issues before this Court. Following notice to shareholders, the Court of Chancery held a hearing on September 4, 2008 to consider the settlement. Following the hearing, on September 4, 2008, the Court entered an Order and Final Judgment granting final approval of the settlement and dismissing the Delaware Action with prejudice, a copy of which is attached hereto as Exhibit A. The notice issued to shareholders concerning the settlement stated that the settlement would also lead to the dismissal of the action pending before this Court. See 18(c), of the Notice, a copy of which is attached hereto as Exhibit B. ACCORDINGLY, IT IS HEREBY STIPULATED AND AGREED that this action should be dismissed with prejudice. IT IS SO STIPULATED. Dated: November 19, 2008 Respectfully submitted, SCHIFFRIN BARROWAY TOPAZ & KESSLER, LLP /s/ L. Timothy Fisher Alan R. Plutzik, Of Counsel (Bar No. 077785) L. Timothy Fisher, Of Counsel (Bar No. 191626) 2125 Oak Grove Road, Suite 120 Walnut Creek, California 94598 Telephone: (925) 9450770 STIPULATION AND [PROPOSED] ORDER DISMISSING ACTION WITH PREJUDICE Case No. C06-7274 -3- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 ORDER /s/ L.Timothy Fisher DATED: November 19, 2008 SCHIFFRIN BARROWAY TOPAZ & KESSLER, LLP Lee D. Rudy Michael J. Hynes 280 King of Prussia Road Radnor, PA 19087 Telephone: (610) 6677706 Counsel for Lead Plaintiffs Trueman Parish and Kevin Fennimore WILSON SONSINI GOODRICH & ROSATI /s/ Douglas J. Clark (Bar No. 171499) Ignacio E. Salceda, (Bar No. 164017) David L. Lansky (Bar No. 199952) 650 Page Mill Road Palo Alto, CA 94304-1050 Telephone: (650) 493-9300 Counsel for Defendants Attestation Pursuant To General Order 45 I, L.Timothy Fisher, attest that concurrence in the filing of this document has been obtained from the other signatory. I declare under penalty of perjury under the laws of the United States that the foregoing is true and correct. Executed this 19th day of November, 2008 at Walnut Creek, California. UNIT ED Pursuant to Stipulation, IT IS SO ORDERED. S S DISTRICT TE C TA ER C STIPULATION AND [PROPOSED] ORDER DISMISSING ACTION WITH PREJUDICE N F Case No. C06-7274 D IS T IC T O R A LI -4- FO _____________________________________ United States District Judge Magistrate . Chen dM e Edwar Judg R NIA November 24, 2008 Dated:____________________ O ORD IT IS S ERED RT U O NO RT H

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