Guindani v. Couder et al

Filing 74

ORDER Re Supplemental Briefing Re Plaintiff's Motion for Preliminary Approval. Signed by Judge Edward M. Chen on 3/27/2014. (emcsec, COURT STAFF) (Filed on 3/27/2014)

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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IN RE OCLARO, INC. DERIVATIVE
LITIGATION.

Lead Case No. C-11-3176 EMC

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ORDER RE SUPPLEMENTAL
BRIEFING RE PLAINTIFF’S MOTION
FOR PRELIMINARY APPROVAL

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For the Northern District of California

United States District Court

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The Court has reviewed Plaintiff’s motion for preliminary approval. Having reviewed the

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motion, the Court hereby orders the parties to provide a joint supplemental brief regarding the

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following issues. The joint supplemental briefing shall be filed no later than April 10, 2014.

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1.

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Corporate Governance Reform
Under the settlement agreement, the corporate governance reform measures are limited to

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two years. See Stip. of Sett. § 2.1. The parties shall address whether time limitations are common in

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settlements of derivative lawsuits and whether a two-year period is adequate.

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2.

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Attorney’s Fees
Plaintiff intends to ask for attorney’s fees in the amount of $250,000. The Court

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acknowledges that no fee motion need be filed at this point in the proceedings; however, the Court

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should have a sense of whether this figure is related to the lodestar. Plaintiff shall address this issue

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in the supplemental briefing.

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3.

Notice

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The parties have pointed to several cases where notice comparable to that proposed herein

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has been acceptable. The parties should address whether such notice, absent mail notice, satisfies

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Rule 23.1(b).

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In addition, the parties should explain why notice on Oclaro’s website should be posted on
only the “investor relations section of the Company’s website.” Stip. of Sett. § 3.2.

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IT IS SO ORDERED.

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Dated: March 27, 2014

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For the Northern District of California

United States District Court

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_________________________
EDWARD M. CHEN
United States District Judge

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