Stern v. Werner, et al

Filing 15

STIPULATION AND ORDER REGARDING CASE SCHEDULE AND TEMPORARY STAY OF ACTION. Signed by Judge Richard Seeborg on 12/13/16. (cl, COURT STAFF) (Filed on 12/13/2016)

1 ROBBINS ARROYO LLP
BRIAN J. ROBBINS (190264)
2 [e-mail]
GEORGE C. AGUILAR (126535)
3 [e-mail]
ASHLEY R. RIFKIN (246602)
4 [e-mail]
600 B Street, Suite 1900
5 San Diego, CA 92101
Telephone: [phone]
6 Facsimile: [phone]
7 Lead Counsel for Plaintiffs
8 WILSON SONSINI GOODRICH & ROSATI
Professional Corporation
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STEVEN M. SCHATZ (SBN 118356)
10 [e-mail]
KATHERINE L. HENDERSON (SBN 242676)
11 [e-mail]
650 Page Mill Road
12 Palo Alto, CA 94304
Telephone: [phone]
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Facsimile: [phone]
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Attorneys for Defendants
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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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IN RE SUNPOWER CORPORATION
18 SHAREHOLDER DERIVATIVE
LITIGATION
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Lead Case No. 3:16-cv-05312-RS

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STIPULATION AND [PROPOSED]
ORDER REGARDING CASE SCHEDULE
AND TEMPORARY STAY OF ACTION

21 This Document Relates To:

(Consolidated with Case Nos. 5:16-cv05381-RS and 3:16-cv-05988-RS)

22 ALL ACTIONS
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STIPULATION AND [PROPOSED] ORDER REGARDING
CASE SCHEDULE AND TEMPORARY STAY OF ACTION

LEAD CASE NO. 3:16-CV-05312-RS

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Plaintiffs Bernard Stern, Peter Moscone, and Melvin Brenner (collectively, "Plaintiffs"),

2 defendants Thomas H. Werner, Charles D. Boynton, Bernard Clément, Ladislas Paszkiewicz,
3 Daniel Lauré, Catherine A. Lesjak, Thomas R. McDaniel, Pat Wood III, Arnaud Chaperon, Denis
4 Giorno, Jean-Marc Otero del Val, and Humbert de Wendel (the "Individual Defendants"), and
5 nominal defendant SunPower Corporation ("SunPower" and, collectively with the Individual
6 Defendants, "Defendants"), by and through their undersigned counsel, hereby stipulate as follows:
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WHEREAS, Plaintiffs filed separate shareholder derivative actions on behalf of SunPower

8 and against the Individual Defendants in this Court between September 16 and October 17, 2016;
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WHEREAS, Plaintiffs and Defendants (together, the "Parties") stipulated to the

10 consolidation of Plaintiffs' derivative actions (the "Consolidated Action") and the appointment of
11 lead counsel, which was approved and entered by the Court on November 15, 2016 (the
12 "Consolidation Order");
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WHEREAS, the Consolidation Order provides, among other things, that the Parties would

14 meet and confer regarding a schedule for the Consolidated Action, including the filing of a
15 consolidated complaint or designation of an operative complaint by Plaintiffs;
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WHEREAS, there are two securities fraud class actions brought on behalf of a putative class

17 of SunPower shareholders and asserting claims arising from facts common to the Consolidated
18 Action currently pending in this Court captioned Bristow v. SunPower Corp., et al., Case No. 3:1619 cv-04710-RS and Patel v. SunPower Corp., et al., Case No. 3:16-cv-04915-RS (collectively, the
20 "Securities Action");
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WHEREAS, on December 9, 2016, this Court entered an order consolidating the related

22 Securities Action and appointing lead plaintiff and lead counsel;
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WHEREAS, it is anticipated that lead plaintiff will file a consolidated complaint in the

24 Securities Action and that defendants will file a motion to dismiss the consolidated complaint;
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WHEREAS, the Parties have been engaged in discussions regarding scheduling and the

26 possible coordination of the Consolidated Action with the Securities Action; and
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-1STIPULATION AND [PROPOSED] ORDER REGARDING
CASE SCHEDULE AND TEMPORARY STAY OF ACTION

LEAD CASE NO. 3:16-CV-05312-RS

1

WHEREAS, the Parties agree that, given the unique circumstances of this Consolidated

2 Action and the factually related Securities Action, it is in the best interests of SunPower to
3 temporarily stay this action pending resolution of the anticipated motion to dismiss in the related
4 Securities Action;
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NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED by the Parties,

6 through their respective counsel of record, as follows:
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1.

Plaintiffs shall either file a consolidated complaint or designate a complaint as

8 operative on or before January 13, 2017.
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2.

Following the filing or designation of a complaint by Plaintiffs as described above,

10 this Consolidated Action shall remain stayed pending resolution of the anticipated motion to dismiss
11 in the Securities Action.
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3.

Within thirty (30) days of entry of an order on the motion to dismiss in the Securities

13 Action, the Parties shall submit a proposed schedule for further proceedings in this Consolidated
14 Action.
15 IT IS SO STIPULATED.
16 Dated: December 13, 2016

ROBBINS ARROYO LLP

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s/ George C. Aguilar
GEORGE C. AGUILAR

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Brian J. Robbins
George C. Aguilar
Ashley R. Rifkin
600 B Street, Suite 1900
San Diego, CA 92101
Telephone: [phone]
Facsimile: [phone]
[e-mail]
[e-mail]
[e-mail]

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Lead Counsel for Plaintiffs

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-2STIPULATION AND [PROPOSED] ORDER REGARDING
CASE SCHEDULE AND TEMPORARY STAY OF ACTION

LEAD CASE NO. 3:16-CV-05312-RS

1 Dated: December 13, 2016
2

WILSON SONSINI GOODRICH & ROSATI
Professional Corporation
s/ Steven M. Schatz
STEVEN M. SCHATZ

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Steven M. Schatz
Katherine L. Henderson
650 Page Mill Road
Palo Alto, CA 94304
Telephone: [phone]
Facsimile: [phone]
[e-mail]
[e-mail]

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Attorneys for Defendants SunPower Corporation,
Thomas H. Werner, Charles D. Boynton, Bernard
Clément, Ladislas Paszkiewicz, Daniel Lauré,
Catherine A. Lesjak, Thomas R. Mcdaniel, Pat
Wood III, Arnaud Chaperon, Denis Giorno, JeanMarc Otero del Val, and Humbert de Wendel

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I, George C. Aguilar, am the ECF User whose ID and password are being used to file this
15 Stipulation and [Proposed] Order Regarding Case Schedule and Temporary Stay of Action. In
compliance with Civil L.R. 5-1(i), I hereby attest that concurrence in the filing of this document has
16 been obtained from each of the other signatories.
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s/ George C. Aguilar
GEORGE C. AGUILAR

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20 PURSUANT TO STIPULATION, IT IS SO ORDERED.
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DATED:

12/13/16
HONORABLE RICHARD SEEBORG
UNITED STATES DISTRICT JUDGE

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-3STIPULATION AND [PROPOSED] ORDER REGARDING
CASE SCHEDULE AND TEMPORARY STAY OF ACTION

LEAD CASE NO. 3:16-CV-05312-RS