Greenberg v. Sunrun Inc. et al

Filing 25

ORDER, granting: 24 STIPULATION WITH PROPOSED ORDER DEFERRING RESPONSE AND VACATING CMC filed by Foundation Capital VI, L.P., et al. Signed by Judge Charles R. Breyer on 6/8/2016. (beS, COURT STAFF) (Filed on 6/8/2016)

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ANNA ERICKSON WHITE (CA SBN 161385)
[e-mail]
ROBERT L. CORTEZ WEBB (CA SBN 274742)
[e-mail]
SU-HAN WANG (CA SBN 284863)
[e-mail]
MORRISON & FOERSTER LLP
425 Market Street
San Francisco, California 94105-2482
Telephone: [phone]
Facsimile: 415.268.7522
Attorneys for Defendants
Sunrun Inc., Lynn Jurich, Bob Komin, Edward Fenster, Jameson
McJunkin, Gerald Risk, Steve Vassallo, Richard Wong, Beau
Peelle, Eren Omer Atesmen, Reginald Norris, William Elmore,
Foundation Capital VI, L.P., and Foundation Capital
Management Co. VI, LLC

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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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CAROLE LEE GREENBERG, Individually and
on Behalf of All Others Similarly Situated,

Case No.

3:16-cv-2480-CRB

CLASS ACTION

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Plaintiff,
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v.
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SUNRUN INC., LYNN JURICH, BOB KOMIN,
EDWARD FENSTER, JAMESON MCJUNKIN,
GERALD RISK, STEVE VASSALLO,
RICHARD WONG, BEAU PEELLE, EREN
OMER ATESMEN, REGINALD NORRIS,
WILLIAM ELMORE, FOUNDATION
CAPITAL VI, L.P., FOUNDATION CAPITAL
MANAGEMENT CO. VI, LLC, CREDIT
SUISSE SECURITIES (USA) LLC, GOLDMAN,
SACHS & CO., MORGAN STANLEY & CO.
LLC, MERRILL LYNCH, PIERCE, FENNER &
SMITH INCORPORATED, RBC CAPITAL
MARKETS, LLC, KEYBANC CAPITAL
MARKETS INC., and SUNTRUST ROBINSON
HUMPHREY, INC.,

STIPULATION AND ORDER
EXTENDING DEFENDANTS’
RESPONSE DEADLINE
PENDING APPOINTMENT OF
LEAD PLAINTIFF AND LEAD
COUNSEL AND VACATING
INITIAL CASE MANAGEMENT
CONFERENCE
[CIV L.R. 6-1(A)]
[CIV L.R. 7-12]
Judge: Hon. Charles R. Breyer
Courtroom: 6, 17th Floor
Case filed: May 6, 2016
Trial date: None set

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Defendants.
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STIPULATION AND [PROPOSED] ORDER DEFERRING RESPONSE AND VACATING CMC
CASE NO. 3:16-CV-2480-CRB
sf-3658633

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All parties, through their undersigned counsel, hereby submit this Stipulation deferring

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Defendants’ deadlines to respond to the complaint pursuant to Civil Local Rule 6-1(a), and

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vacating the initial case management conference.
RECITALS

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WHEREAS, on May 6, 2016, the above-captioned class action complaint was filed in this

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Court. (Dkt. 1.) The complaint alleges violations of the federal securities laws by Sunrun Inc.

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(“Sunrun”), certain of Sunrun’s directors, officers, and employees, as well as the underwriters of

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Sunrun’s initial public offering;
WHEREAS, upon commencement of this action, an initial case management conference

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was set for August 5, 2016 at 8:30 AM. (Dkt. 3);
WHEREAS, this action is governed by the Private Securities Litigation Reform Act of

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1995, 15 U.S.C. § 78u-4 et seq. (the “Reform Act”). Among other things, discovery is

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automatically stayed pending resolution of a motion to dismiss;
WHEREAS, pursuant to the provisions of the Reform Act and Civil Local Rule 23-1,

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motions for appointment of lead plaintiff and lead counsel are due by July 26, 2016;
WHEREAS no meaningful litigation activity is expected in this action until after the Court

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appoints a lead plaintiff and lead counsel, at which point an amended complaint is likely to be

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filed by the appointed lead plaintiff and lead counsel;
WHEREAS, after an operative complaint is filed or designated, defendants anticipate

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filing motions to dismiss that complaint;
WHEREAS counsel for the undersigned parties agree that deferring the response

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deadlines for all defendants until after the Court appoints a lead plaintiff and lead counsel

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pursuant to the Reform Act is prudent and will conserve party and judicial resources;

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WHEREAS the parties further agree that an initial case management conference, attendant

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deadlines, and related ADR procedures are premature and should be deferred until the initial case

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management conference is reset following appointment of a lead plaintiff and lead counsel by the

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Court.

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STIPULATION AND [PROPOSED] ORDER DEFERRING RESPONSE AND VACATING CMC
CASE NO. 3:16-CV-2480-CRB
sf-3658633

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STIPULATION
NOW, THEREFORE, the undersigned hereby stipulate, subject to Court approval as to

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the resetting of the Case Management Conference, as follows:

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1.

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yet been served; 1

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2.

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Defendants agree to accept service, through counsel, to the extent they have not

Defendants shall have no obligation to respond to the complaint until after the

Court appoints a lead plaintiff and lead counsel;
3.

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Counsel for the defendants will meet and confer with the court-appointed lead

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counsel within fourteen days after the Court makes its appointment to discuss a schedule for the

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filing of any amended complaint and defendants’ responses, including their currently anticipated

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motions to dismiss; and
4.

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The Case Management Conference that is presently scheduled for August 5, 2016,

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is hereby vacated and shall be reset in connection with the setting of the briefing schedule on

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defendants’ anticipated motions to dismiss. The related deadlines, including ADR requirements,

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shall be deferred until after an initial case management conference is reset.

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Undersigned counsel’s acceptance of service of the complaint is without prejudice to and
without waiver of any defenses, objections or arguments in this matter or any other matter, except
as to sufficiency of service of process.
STIPULATION AND [PROPOSED] ORDER DEFERRING RESPONSE AND VACATING CMC
CASE NO. 3:16-CV-2480-CRB
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IT IS SO STIPULATED

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Dated: June 6, 2016

Dated:

POMERANTZ LLP

MORRISON & FOERSTER LLP

By:

June 6, 2016

/s/ Jennifer Pafiti
By: /s/ Anna Erickson White

Attorneys for Plaintiff Carole Lee
Greenberg
Jennifer Pafiti (SBN 282790)
468 North Camden Drive
Beverly Hills, CA 90210
Telephone: [phone]
[e-mail]

Attorneys for the Sunrun Defendants
Dated:

June 6, 2016

SHEARMAN & STERLING LLP
By: /s/ Patrick D. Robbins

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Attorneys for the Underwriter Defendants

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Patrick D. Robbins (SBN 152288)
535 Mission Street, 25th Floor
San Francisco, CA 94105
Telephone: [phone]
Facsimile: 415.616.1199
Email: [e-mail]

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ORDER
PURSUANT TO STIPULATION, IT IS SO ORDERED

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Dated: June 8, 2016
____________________________________
Hon. Charles R. Breyer
United States District Judge

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STIPULATION AND [PROPOSED] ORDER DEFERRING RESPONSE AND VACATING CMC
CASE NO. 3:16-CV-2480-CRB
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ATTESTATION
I, Anna Erickson White, am the ECF User whose ID and password are being used to file

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this STIPULATION AND [PROPOSED] ORDER EXTENDING DEFENDANTS’

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RESPONSE DEADLINE PENDING APPOINTMENT OF LEAD PLAINTIFF AND LEAD

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COUNSEL AND VACATING INITIAL CASE MANAGEMENT CONFERENCE. In

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compliance with Civil L.R. 5-1, I hereby attest that Jennifer Pafiti and Patrick D. Robbins

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concurred in this filing.

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/s/ Anna Erickson White

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STIPULATION AND [PROPOSED] ORDER DEFERRING RESPONSE AND VACATING CMC
CASE NO. 3:16-CV-2480-CRB
sf-3658633

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