Oswald v. Humphreys, et al

Filing 15

ORDER, granting 14 STIPULATION STAYING PROCEEDING Stipulation and [Proposed] Order Staying Proceedings filed by Identiv, Inc. Signed by Judge Charles R. Breyer on 3/7/2016. All other proceedings, including motion practice and discovery, in this action are hereby stayed until further order of the Court. (beS, COURT STAFF) (Filed on 3/8/2016)

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CHRISTOPHER H. MCGRATH (SB# 149129)
[e-mail]
RAYMOND W. STOCKSTILL, IV (SB# 275228)
[e-mail]
PAUL HASTINGS LLP
695 Town Center Drive
Seventeenth Floor
Costa Mesa, California 92626-1924
Telephone: [phone]
Facsimile: 1(714) 979-1921

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EDWARD HAN (SB# 196924)
[e-mail]
PAUL HASTINGS LLP
55 Second Street
Twenty-Fourth Floor
San Francisco, CA 94105
Telephone:
[phone]
Facsimile:
[phone]

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Attorneys for Defendant Identiv, Inc.

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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RYAN OSWALD, Derivatively on Behalf of
Nominal Defendant IDENTIV, INC.,

CASE NO. 3:16-CV-00241-CRB

Plaintiff,

STIPULATION AND ORDER
STAYING PROCEEDINGS

vs.
STEVEN HUMPHREYS, JASON HART,
JAMES OUSLEY, GARY KREMEN, SAAD
ALAZEM, DANIEL S. WENZEL, and BRIAN
NELSON,

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6, 17th Floor
Hon. Charles R. Breyer

Defendants,

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Ctrm:
Judge:

and
IDENTIV, INC.,
Nominal Defendant.

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STIPULATION AND [PROPOSED] ORDER
STAYING PROCEEDINGS

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STIPULATION

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Plaintiff Ryan Oswald (“Plaintiff”), Nominal Defendant Identiv, Inc. (“Identiv”) and

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defendants Brian Nelson and Jason Hart (collectively with Identiv, “Defendants”) by and through

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counsel, hereby stipulate as follows:

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WHEREAS, this is a shareholder derivative action filed on January 14, 2016;

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WHEREAS, two other shareholder derivative actions have been filed in the Superior

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Court of the State of California, County of Alameda; Chopra v. Hart, et al., Case No. RG-

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16801379 (filed on January 24, 2016); Wollnik v. Wenzel, et al., Case No. RG-16803342 (filed on

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February 9, 2016) (“State Court Derivative Actions”);

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WHEREAS, this derivative action is related to a putative class action alleging violations

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of federal securities laws: Rok v. Identiv, et al., Case No. 15-cv-05775-CRB (the “Securities Class

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Action”);

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WHEREAS, on January 29, 2016, the Court granted a stipulation in the Securities Class

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Action extending the defendants’ deadline to respond to the complaint until 45 days after the

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court selects a lead plaintiff and said lead plaintiff files an amended complaint;

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WHEREAS, the hearing in the Securities Class Action on various motions for lead
plaintiff is set for March 11, 2016;

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WHEREAS, Defendants intend to seek stays of the State Court Derivative Actions;

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WHEREAS, based upon the circumstances unique to this case, and to avoid the

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unnecessary expenditure of judicial resources, the parties to this action have agreed, subject

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to this Court’s approval, to stay prosecution of this action, including motions practice and

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discovery; and

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NOW, THEREFORE the parties respectfully request that the Court enter an Order as
follows:

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1.

The case management conference set for March 11, 2016 is vacated.

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2.

The Company shall respond to the complaint in this action within forty-five (45)

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days after the lead plaintiff has filed an amended complaint in the Securities Class Action,

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plaintiff in this action shall either file an amended complaint or designate an existing complaint as
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STIPULATION AND [PROPOSED] ORDER
STAYING PROCEEDINGS

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operative. Thereafter, the Company, within forty-five (45) days, shall respond by way of either a

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motion to dismiss on the basis that demand is not excused, or a motion to stay this action until

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there is a resolution of the motion to dismiss the Securities Class Action. In the event that a

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motion to stay this action is denied, the Company’s responsive pleading shall be due thirty (30)

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days after entry of an order denying the motion. The individual defendants in this action need not

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respond to the complaint unless and until there is a determination by this Court that demand is

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excused.

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3.

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hereby stayed until further order of the Court. 1

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All other proceedings, including motion practice and discovery, in this action are

IT IS SO STIPULATED.
Dated: March 3, 2016

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ROBERT C. SCHUBERT
WILLEM F. JONCKHEER
SCHUBERT JONCKHEER & KOLBE LLP

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By: /s/ Robert C. Schubert
ROBERT C. SCHUBERT

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Robert I. Harwood
Matthew M. Houston
Benjamin I. Sachs-Michaels
HARWOOD FEFFER LLP

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Attorneys for Plaintiff Ryan Oswald

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Defendants, however, reserve any and all rights in connection with this action and the
State Court Derivate Actions, including, but not limited to, seeking stays and/or consolidation of
those actions.
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STIPULATION AND [PROPOSED] ORDER
STAYING PROCEEDINGS

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DATED: March 3, 2016

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CHRISTOPHER H. McGRATH
EDWARD HAN
RAYMOND W. STOCKSTILL, IV
PAUL HASTINGS LLP

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By: /s/ Christopher H. McGrath
CHRISTOPHER H. McGRATH

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Attorneys for Defendant Identiv, Inc.
DATED: March 3, 2016

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By: /s/ Robert P. Varian
ROBERT P. VARIAN

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ROBERT P. VARIAN
ORRICK, HERRINGTON &
SUTCLIFFE LLP

Attorneys for Defendant Jason Hart
DATED: March 3_, 2016

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JONATHAN GASKIN
KAUFHOLD GASKIN LLP

By: /s/ Jonathan Gaskin
JONATHAN GASKIN

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Attorneys for Defendant Brian Nelson

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DECLARATION REGARDING CONCURRENCE
I, Christopher H. McGrath, am the ECF User whose identification and password are being

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used to file the STIPULATION AND [PROPOSED] ORDER STAYING PROCEEDINGS. In

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compliance with Local Rule 5-1(i)(3), I hereby attest that Robert C. Schubert, Robert P. Varian

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and Jonathan Gaskin have concurred in this filing.

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///

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/s/ Christopher H. McGrath

///

///
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STIPULATION AND [PROPOSED] ORDER
STAYING PROCEEDINGS

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* * *ORDER* * *

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PURSUANT TO STIPULATION, IT IS SO ORDERED.

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Dated: March 7, 2016

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HONORABLE CHARLES R. BREYER
UNITED STATES DISTRICT COURT JUDGE

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LEGAL_US_W # 85094259.5

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STIPULATION AND [PROPOSED] ORDER
STAYING PROCEEDINGS