Mulligan v. Impax Laboratories, Inc., et al

Filing 45

ORDER re 18 MOTION to Appoint Lead Plaintiff and Lead Counsel and Consolidation of All Related Actions filed by City of Pontiac General Employees' Retirement System, 19 MOTION to Consolidate Cases MOTION to Appoin t Lead Plaintiff and Lead Counsel ; Memorandum of Points and Authorities in Support Thereof filed by Government of Bermuda Contributory and Public Service Superannuation Pension Plans, 16 MOTION to Appoint Lead Plaintiff and Lead Counse l Boilermaker Blacksmith National Pension Trust's Motion For Consolidation Of Related Actions, Appointment As Lead Plaintiff, And Approval of Selection Of Lead Counsel And Memorandum Of Law In Su MOTION to Consolidate Cases filed by Denis Mulligan (emclc2, COURT STAFF) (Filed on 6/17/2013)

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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DENIS MULLIGAN, individually and on
behalf of all others similarly situated,

No. C-13-1037 EMC

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Plaintiff,
v.

ORDER RE MOTIONS FOR
APPOINTMENT AS LEAD PLAINTIFF

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For the Northern District of California

United States District Court

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IMPAX LABORATORIES, INC., LARRY
HSU, ARTHUR A. KOCH and BRYAN M.
REASONS,

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Defendants.
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Currently pending before the court are three competing motions for appointment as lead plaintiff
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in this securities class action. All motions are set for hearing on June 20, 2013. In their briefs, two of
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the movants dispute the proper method of determining which potential plaintiff has the largest financial
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interest in the case.1 As one example of how courts have made such determinations, both movants cite

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to the retained shares method of calculating financial interest set out by the court in Eichenholtz v.
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Verifone Holdings, Inc., C07-06140MHP, 2008 WL 3925289 (N.D. Cal. Aug. 22, 2008). While the two
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movants provide information on the number of shares they each retained at the end of the class period,
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they do not provide figures for their financial interest as calculated under Eichenholtz’s retained shares
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method.
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The movants are thus directed to submit to the Court information on their financial interest as
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calculated using the Eichenholtz retained shares method by no later than 5:00 p.m. on Tuesday, June 18,
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The third movant has conceded that it does not have the largest financial interest.

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2013. The movants shall include such information for both the class period identified in action Mulligan

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v. Impax Laboratories, Inc., et al., C-13-1037 EMC and for the class period identified in Haverhill

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Retirement System v. Impax Laboratories, Inc., et al., C-13-1566-EMC.

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IT IS SO ORDERED.

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Dated: June 17, 2013

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_________________________
EDWARD M. CHEN
United States District Judge

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For the Northern District of California

United States District Court

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