Haverhill Retirement System v. Impax Laboratories, Inc., et al

Filing 16

STIPULATION AND ORDER re 15 Scheduling and Rescheduling Initial Case Management Conference filed by Bryan M. Reasons, Larry Hsu, Impax Laboratories, Inc.,, Arthur A. Koch Case Management Statement due by 10/31/2013. Case Management Conference set for 11/7/2013 09:00 AM in Courtroom 5, 17th Floor, San Francisco.. Signed by Judge Edward M. Chen on 4/25/13. (bpf, COURT STAFF) (Filed on 4/25/2013)

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LATHAM & WATKINS LLP
Peter A. Wald (Bar No. 85705)
Marcy C. Priedeman (Bar No. 258505)
[e-mail]
[e-mail]
505 Montgomery Street, Suite 2000
San Francisco, California
Telephone: [phone]
Facsimile: [phone]

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Patrick E. Gibbs (Bar No. 183174)
[e-mail]
140 Scott Drive
Menlo Park, California 94025-1008
Telephone: [phone]
Facsimile: [phone]

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

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UNITED STATES DISTRICT COURT
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NORTHERN DISTRICT OF CALIFORNIA
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SAN FRANCISCO DIVISION
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HAVERHILL RETIREMENT SYSTEM,
Individually and on Behalf of All Others
Similarly Situated,
Plaintiff,

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Case No.: 13-cv-1566-EMC
STIPULATION AND [PROPOSED]
SCHEDULING AND RESCHEDULING
INITIAL CASE MANAGEMENT
CONFERENCE ORDER

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

Class Action

Defendants.

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ATTORNEYS AT LAW
SAN FRANCISCO

STIPULATION AND [PROPOSED] SCHEDULING AND
RESCHEDULING INITIAL CASE MANAGEMENT CONF. ORDER
CASE NUMBER: 13-cv-1566-EMC

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Plaintiff Haverhill Retirement Center, individually and on behalf of all others similarly

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situated, by and through his respective counsel (“Plaintiff”), and defendants Impax Laboratories,

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Inc., Larry Hsu, Arthur A. Koch, and Bryan M. Reasons, by and through their respective

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counsel, (collectively, “Defendants”), hereby stipulate to the following:

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WHEREAS, on April 8, 2013, Plaintiff filed a complaint captioned Haverhill Retirement

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System v. Impax Laboratories, Inc. et al., No. 13-cv-1566, a purported class action under the

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Private Securities Litigation Reform Act of 1995 (the “PSLRA”) alleging securities fraud, which

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was assigned to Judge Charles R. Breyer;

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WHEREAS, pursuant to the April 8, 2013 Case Management Conference Order (Dkt.
#8), the Initial Case Management Conference is scheduled for July 12, 2013;

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WHEREAS, pursuant to the April 19, 2013 Related Case Order, the Haverhill Retirement

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System v. Impax Laboratories, Inc. et. al., No. 13-cv-1566, was reassigned to Judge Edward M.

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Chen;

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WHEREAS, the Complaint asserts claims under the federal securities laws that are

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subject to the procedural requirements of the PSLRA, including those set forth in 15 U.S.C. §

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78u-4;

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WHEREAS, Defendants presently intend to file a motion to dismiss, which would trigger
a stay of discovery under the PSLRA, 15 U.S.C. § 78u-4(b)(3)(B);
WHEREAS, under the PSLRA, the Court may come to consider consolidation of the

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complaint already filed, along with any further complaints that may be filed arising out of the

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same set of facts and circumstances as the existing complaint;

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WHEREAS, motions for appointment of lead plaintiff and lead counsel pursuant to the
PSLRA, 15 U.S.C. § 78u-4(a)(3) will be filed with the Court;
WHEREAS, in order to avoid the unnecessary expenditure of judicial resources or effort

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by the parties to this action and the Court prior to filing of the motion(s) for appointment of Lead

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Plaintiff, the parties to this action have agreed, in the interim prior to the appointment of Lead

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Plaintiff and subject to the Court’s approval, to the continuance of the Initial Case Management

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Conference and an extension of time for Defendants to respond to the Complaint or any

ATTORNEYS AT LAW
SAN FRANCISCO

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STIPULATION AND [PROPOSED] SCHEDULING AND
RESCHEDULING INITIAL CASE MANAGEMENT CONF. ORDER
CASE NUMBER: 13-cv-1566-EMC

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superseding Complaint; and
WHEREAS, this Stipulation and Order is without prejudice to, or waiver of, any rights,

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arguments, or defenses otherwise available to the parties to this action, including, but not limited

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to, the right to revisit the timing of the below-referenced pleadings and motions once Lead

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Counsel has been designated by the Court.

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NOW THEREFORE, the undersigned parties, by and through their counsel of record,
stipulate as follows:
1.

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Defendants shall have no obligation to respond to the Complaint filed in the
above-captioned action;

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Lead Plaintiff(s) shall have sixty (60) days after entry of an order appointing Lead

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Plaintiff(s) to file and serve a consolidated or amended complaint (“Consolidated

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or Amended Complaint”) or to notify Defendants that they shall be proceeding on

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the original Complaint;

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3.

Defendants shall file and serve any answer or other response within sixty (60)

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days of service of the Consolidated or Amended Complaint or after notification

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by the Lead Plaintiff(s) that they shall be proceeding on the original Complaint;

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4.

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dismiss within forty-five (45) days of service of the motion to dismiss;
5.

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Lead Plaintiff(s) shall file and serve any opposition to Defendants’ motion to

Defendants shall file and serve a reply brief in support of the motion to dismiss
within thirty (30) days of service of any opposition brief;

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Oral argument on Defendants’ motion to dismiss will be held at such date and

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time as the parties shall agree upon prior to filing the motion to dismiss, or on

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such other date and time as the Court shall order;

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7.

Defendants agree to waive service of process to the extent that service has not

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been effected on all Defendants. This stipulation shall not be deemed to waive

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any defense other than as to the sufficiency of service of process;

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ATTORNEYS AT LAW
SAN FRANCISCO

8.

The parties agree that discovery in the above-captioned action shall be stayed
pursuant to the Private Securities Litigation Reform Act, 15 U.S.C. § 78u2

STIPULATION AND [PROPOSED] SCHEDULING AND
RESCHEDULING INITIAL CASE MANAGEMENT CONF. ORDER
CASE NUMBER: 13-cv-1566-EMC

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4(b)(3)(B), until the Court issues an order resolving Defendants’ motion to

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dismiss. This does not preclude Lead Plaintiff from issuing requests that the

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Defendants undertake efforts to preserve relevant documents; and

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9.

The Initial Case Management Conference, currently scheduled for July 12, 2013,

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is hereby adjourned to: (a) thirty (30) days after Defendants file an answer; (b)

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sixty (60) days after (i) the Court rules on Defendants’ motion to dismiss and (ii)

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Lead Plaintiff(s) inform the Court that they will not further amend their

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Complaint; or (c) to such other date and time as this Court shall order. Until the

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date of such Case Management Conference, the stay of discovery shall stay in

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place, subject to the parties’ right to seek to lift the stay pursuant to 15 U.S.C. §

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78u-4(b)(3)(B).

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DATED: April 19, 2013

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LABATON SUCHAROW LLP

LATHAM & WATKINS LLP

By: __/s/ Michael W. Stocker__________
Michael W. Stocker

By: __/s/ Peter A. Wald___________________
Peter A. Wald

Christopher J. Keller (pro hac vice pending)
Michael W. Stocker (Bar No. 179083)
Rachel A. Avan (pro hac vice pending)
140 Broadway
New York, New York 10005
Telephone: [phone]
Facsimile: [phone]
[e-mail]
[e-mail]
[e-mail]

Peter A. Wald (Bar No. 85705)
Marcy C. Priedeman (Bar No. 258505)
505 Montgomery St., Suite 2000
San Francisco, California 94111
Telephone: [phone]
Facsimile: [phone]
[e-mail]
[e-mail]

and

Patrick E. Gibbs (Bar No. 183174)
140 Scott Drive
Menlo Park, California 94025-1008
Telephone: [phone]
Facsimile: [phone]
[e-mail]

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ATTORNEYS AT LAW
SAN FRANCISCO

BERMAN DEVALERIO LLP
Christopher T. Heffelfinger (Bar No. 118058)
One California Street, Suite 900
San Francisco, California 94111
Telephone: [phone]
Facsimile: [phone]

and

Counsel for Defendants Impax Laboratories,
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STIPULATION AND [PROPOSED] SCHEDULING AND
RESCHEDULING INITIAL CASE MANAGEMENT CONF. ORDER
CASE NUMBER: 13-cv-1566-EMC

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[e-mail]

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Counsel for Plaintiff Haverhill Retirement
System

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Inc., Larry Hsu, Arthur A. Koch, and Bryan M.
Reasons

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ATTORNEYS AT LAW
SAN FRANCISCO

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STIPULATION AND [PROPOSED] SCHEDULING AND
RESCHEDULING INITIAL CASE MANAGEMENT CONF. ORDER
CASE NUMBER: 13-cv-1566-EMC

PURSUANT TO STIPULATION, IT IS SO ORDERED.

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4/25/13

UNIT
ED

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DATED:

RDERE

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IT IS S

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dwa
Judge E

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hen

rd M. C

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R NIA

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The case management conference
is reset for 11/7/13 at 9:00 a.m.
S DISTRICT
A joint cmc statement shall be
E
C
AT
filed by 10/31/13.
T
Hon. Edward M. Chen
United States District Court Judge
D

FO

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F
D IS T IC T O
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ATTORNEYS AT LAW
SAN FRANCISCO

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STIPULATION AND [PROPOSED] SCHEDULING AND
RESCHEDULING INITIAL CASE MANAGEMENT CONF. ORDER
CASE NUMBER: 13-cv-1566-EMC

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SIGNATURE ATTESTATION
I am the ECF User whose identification and password are being used to file the foregoing

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Stipulation and [Proposed] Scheduling and Rescheduling Initial Case Management Conference

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Order. Pursuant to General Order No. 45, Section X(B) regarding signatures, I, Peter A. Wald,

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attest that concurrence in the filing of this document has been obtained.

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DATED: APRIL 19, 2013

__/s/ Peter A. Wald______________
Peter A. Wald (Bar No. 85705)

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ATTORNEYS AT LAW
SAN FRANCISCO

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STIPULATION AND [PROPOSED] SCHEDULING AND
RESCHEDULING INITIAL CASE MANAGEMENT CONF. ORDER
CASE NUMBER: 13-cv-1566-EMC