Buell v. Viegas et al

Filing 17

ORDER extending time to respond to complaint re 8 Stipulation filed by Ralph Edward Clenton Richardson, Immersion Corporation, Stephen Ambler, Victor Viegas, Daniel J. Chavez. Signed by Judge Charles R. Breyer on 10/13/09. (be, COURT STAFF) (Filed on 10/14/2009)

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FENWICK & WEST LLP
A T T O R N E Y S A T LAW M O U N T A I N VI E W

SUSAN S. MUCK (CSB NO. 126930) [e-mail] JENNIFER BRETAN (CSB NO. 233475) [e-mail] FENWICK & WEST LLP 555 California Street 12th Floor San Francisco, CA 94104 Telephone: [phone] Facsimile: [phone] JAY L. POMERANTZ (CSB NO. 209869) [e-mail] FELIX S. LEE (CSB NO. 197084) [e-mail] Silicon Valley Center 801 California Street Mountain View, California 94041 Phone: [phone] Fax: [phone] Attorneys for Defendants Immersion Corporation, Victor A. Viegas, Clent Richardson, Stephen Ambler and Daniel Chavez UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN JOSE DIVISION STEVEN H. BUELL, on behalf of himself and all others similarly situated, Plaintiff, v. VICTOR VIEGAS, STEPHEN AMBLER, RALPH EDWARD CLENTON RICHARDSON, DANIEL J. CHAVEZ and IMMERSION CORPORATION, Defendants. Case No. 3:09-cv-04561-CRB CLASS ACTION STIPULATION EXTENDING TIME FOR ALL DEFENDANTS TO RESPOND TO COMPLAINT

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STIPULATION EXTENDING TIME FOR ALL DEFENDANTS TO RESPOND

CASE NO. 3:09-CV-04561-CRB

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FENWICK & WEST LLP
A T T O R N E Y S A T LAW M O U N T A I N VI E W

WHEREAS, the above-captioned action, Buell v. Immersion Corporation et al., filed on September 28, 2009 ("Buell"), is alleged to be a class action asserting violations of the federal securities laws against Defendants Immersion Corporation, Victor A. Viegas, Clent Richardson, Stephen Ambler and Daniel Chavez (collectively, "Defendants"); WHEREAS, four additional actions alleging to be class actions asserting violations of the federal securities laws against some or all Defendants have been filed in this Court: Hodges v. Immersion Corporation, et al., No. 3:09-cv-04073-MMC, filed on September 2, 2009 ("Hodges"); Posner v. Immersion Corporation, et al., Case No. 4:09-cv-04118-PJH, filed on September 4, 2009 ("Posner"); Barrios v. Immersion Corporation, et al., Case No. 5:09-cv-04412-JW, filed on September 18, 2009 ("Barrios"); and Benson v. Immersion Corporation, et al., Case No. 5:09-cv-04744-HRL, filed on October 5, 2009 ("Benson"). WHEREAS, the parties in Buell (the "Parties") believe that Buell and the four actions listed directly above are "related cases" as defined in Northern District of California Civil Local Rule ("Civil L.R.") 3-12(a) and several administrative motions (and responses thereto) regarding such relation have been filed pursuant to Civil L.R. 3-12(b); WHEREAS, the above-captioned action and the additional actions listed above are subject to the requirements of the Private Securities Litigation Reform Act of 1995, Pub. L. No. 104-67, 109 Stat. 737 (1995) (the "Reform Act"), which sets forth specialized procedures for the administration of securities class actions; WHEREAS, the Reform Act provides for the appointment of a lead plaintiff to act on behalf of the purported class, and further provides that the appointment of lead plaintiff shall not be made until after a decision on a motion to consolidate is rendered (15 U.S.C. § 77u-4 (a)(3)(B)(ii)); WHEREAS, the Parties expect that Hodges, Posner, Barrios, Buell and Benson (and any similar action filed after the date of this stipulation) will be related by the Court and that a motion to consolidate and for appointment of a lead plaintiff and lead counsel will thereafter be filed; //
STIPULATION EXTENDING TIME FOR ALL DEFENDANTS TO RESPOND

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CASE NO. 3:09-CV-04561-CRB

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FENWICK & WEST LLP
A T T O R N E Y S A T LAW M O U N T A I N VI E W

WHEREAS, Defendants intend to file motions to dismiss the claims asserted against them; and WHEREAS, because the special procedures specified in the Reform Act contemplate (i) the consolidation of similar actions, (ii) appointment of lead plaintiff, and (iii) the filing of a single consolidated complaint by lead plaintiff and lead counsel to be appointed by the Court, requiring Defendants to respond to the initial complaints in the above-referenced actions would serve no purpose and would result in the needless expenditure of private and judicial resources; IT IS ACCORDINGLY STIPULATED, pursuant to Civil L.R. 6-1(a), by and between the undersigned counsel for the Parties, that the time for each Defendant to answer, move or otherwise respond to the Buell complaint is extended until following the appointment of a lead plaintiff and lead counsel and that, thereafter, the parties shall meet and confer and submit a mutually agreeable schedule for the filing of a consolidated complaint (or designation of an operative complaint), if necessary, as well as for the briefing and hearing of responses thereto. The consolidated or operative complaint shall supersede all complaints filed in any action that is consolidated herein. Pursuant to General Order No. 45 Section X(B), all of the signatories concur in the filing of this stipulation. Dated: October 9, 2009 FENWICK & WEST LLP By: /s/ Jay L. Pomerantz Jay L. Pomerantz

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Attorneys for Defendants Immersion Corporation, Victor A. Viegas, Clent Richardson, Stephen Ambler and Daniel Chavez Dated: October 9, 2009
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WOLF HALDENSTEIN ADLER FREEMAN & HERZ LLP By: /s/ Betsy C. Manifold Betsy C. Manifold

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Attorneys for Plaintiff Steven H. Buell
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