Board of Trustees of the Leland Stanford Junior University v. Stanford Financial Group Company et al

Filing 87

ORDER extending time to respond to counterclaims re 86 Stipulation filed by Board of Trustees of the Leland Stanford Junior University. Signed by Judge Charles R. Breyer on 2/24/09. (be, COURT STAFF) (Filed on 2/24/2009)

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Bingham McCutchen LLP WILLIAM F. ABRAMS (CA SBN 88805) MIT WINTER (CA SBN 238515) 1900 University Avenue East Palo Alto, CA 94303-2223 Telephone: [phone] [e-mail] Attorneys for Plaintiff The Board of Trustees of The Leland Stanford Junior University

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA

The Board of Trustees of The Leland Stanford Junior University, v. Plaintiff,

No. 3:08-cv-04950 CRB STIPULATION AND [PROPOSED] ORDER EXTENDING TIME TO RESPOND TO COUNTERCLAIMS

Stanford Financial Group Company and Stanford Group Company, Defendants.

Stanford Group Company, v. Counterclaim Plaintiff,

The Board of Trustees of The Leland Stanford Junior University and The Leland Stanford Junior University, Counterclaim Defendants. WHEREAS, counterclaim defendants The Board of Trustees of The Leland Stanford Junior University and The Leland Stanford Junior University (the "Counterclaim Defendants") were served with Stanford Group Company's ("Stanford Group") Counterclaims in the above action on February 13, 2009; WHEREAS, the Counterclaim Defendants' time to respond to the Counterclaims pursuant
Case No. 3:08-cv-04950 CRB

STIPULATION AND [PROPOSED] ORDER CONTINUING HEARING DATES
A/72854103.1/2004678-0000332067

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to Federal Rule of Civil Procedure, Rule 12(a)(1)(B) normally would be March 9, 2009; WHEREAS, on February 17, 2009, the Securities and Exchange Commission (the "SEC") filed a complaint in the United States District Court for the Northern District of Texas alleging securities fraud against defendant Stanford Group Company ("Stanford Group") and related companies and persons, including Stanford International Bank, Ltd., Stanford Capital Management, LLC, R. Allen Stanford, James M. Davis, and Laura Pendergest-Holt; WHEREAS, on February 17, 2009, the SEC filed (1) a motion for temporary restraining, order freezing assets, order requiring an accounting, order requiring preservation of documents and order authorizing expedited discovery and (2) a motion to appoint a receiver; WHEREAS, on February 17, 2009, the District Court granted the SEC's motions for temporary restraining and to appoint a receiver; WHEREAS, in view of the temporary restraining order and the order appointing a receiver, Defendants Stanford Financial Group Company ("Stanford Financial") and Stanford Group requested that the existing hearing dates in this matter be continued to allow the receiver time to determine how it wishes to proceed; WHEREAS, on February 19, 2009, the parties stipulated that (1) there was good cause for the Court to enter an order resetting the hearing dates for Stanford Financial Group Company's Motion to Dismiss in Part for Lack of Personal Jurisdiction (Doc. No. 57), Stanford Group Company's Motion to Dismiss the First Amended Complaint For Failure to State a Claim on Which Relief Can be Granted (Doc. No. 62), Stanford Financial Group Company's Motion for Judgment on the Pleadings and to Dismiss the First Amended Complaint (Doc. No. 66), Stanford Financial Group Company's Motion to Dismiss a Portion of the First Amended Complaint for Lack of Subject-Matter Jurisdiction (Doc. No. 74), and Stanford Financial Group Company's Motion for Partial Summary Judgment (Doc. No. 80), which were all set for March 20, 2009, to May 22, 2009, with opposition and reply dates to run from the later, re-scheduled date pursuant to Civil L.R. 7-3; (2) a Case Management Conference be scheduled on March 20, 2009, with a Joint Case Management Conference Statement due by March 13, 2009; and (3) the Settlement
Case No. 3:08-cv-04950 CRB

Conference before Magistrate Judge Bernard Zimmerman, which was set for March 12, 2009, be 2 STIPULATION AND [PROPOSED] ORDER CONTINUING HEARING DATES

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re-scheduled to a date available to Magistrate Judge Zimmerman, approximately on or about May 11, 2009; WHEREAS, on February 20, 2009, the Court ordered that the hearing dates, Case Management Conference, and Settlement Conference be continued and scheduled in accordance with the stipulation; IT IS HEREBY STIPULATED by and between the parties that Counterclaim Defendants' time to respond to the Counterclaims shall be extended by 60 days. Counterclaim Defendants shall have until May 8, 2009 to answer or otherwise respond to the Counterclaims. DATED: February 24, 2009

Bingham McCutchen LLP

By: /s/ William F. Abrams William F. Abrams Bingham McCutchen LLP Attorneys for Plaintiff The Board of Trustees of The Leland Stanford Junior University

DATED: February 24, 2009

Dillingham & Murphy LLP

By: /s/ William F. Murphy William F. Murphy Dillingham & Murphy, LLP Curtis, Mallet-Prevost, Colt & Mosle LLP Attorneys for Defendants Stanford Financial Group Company and Stanford Group Company

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STIPULATION AND [PROPOSED] ORDER CONTINUING HEARING DATES
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NOW THEREFORE, IT IS HEREBY ORDERED THAT The Board of Trustees of The Leland Stanford Junior University and The Leland Stanford Junior University ("Counterclaim Defendants") time to respond to Stanford Group Company's Counterclaims shall be extended by 60 days. Counterclaim Defendants shall have until May 8, 2009 to answer or otherwise respond to the Counterclaims.

DATED: February 24, 2009

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C ES _______________________________T C AT T The Honorable Charles R. Breyer UNITED STATES DISTRICT COURT

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