Porter v. Costolo et al

Filing 36

STIPULATION AND ORDER re 35 STIPULATION WITH PROPOSED ORDER filed by Francis Fleming, Ernesto Espinoza, Jim Porter. Signed by Judge Jon S. Tigar on November 16, 2017. (wsn, COURT STAFF) (Filed on 11/16/2017)

Download PDF
1 6 ROBBINS ARROYO LLP BRIAN J. ROBBINS (190264) FELIPE J. ARROYO (163803) SHANE P. SANDERS (237146) 600 B Street, Suite 1900 San Diego, CA 92101 Telephone: (619) 525-3990 Facsimile: (619) 525-3991 brobbins@robbinsarroyo.com farroyo@robbinsarroyo.com ssanders@robbinsarroyo.com 7 -and- 8 12 JOHNSON & WEAVER, LLP FRANK J. JOHNSON (174882) PHONG L. TRAN (204961) 600 West Broadway, Suite 1540 San Diego, CA 92101 Telephone: (619) 230-0063 Facsimile: (619) 255-1856 frankj@johnsonandweaver.com phongt@johnsonandweaver.com 13 Co-Lead Counsel for Plaintiffs 14 [Additional Counsel on Signature Page] 2 3 4 5 9 10 11 15 16 17 UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION IN RE TWITTER, INC. SHAREHOLDER DERIVATIVE LITIGATION, 18 19 20 Lead Case No.: 3:16-cv-06136-JST (Consolidated with Nos. 3:16-cv-06457-JST and 4:16-cv-06492-JST) This Document Relates To: ALL ACTIONS. 21 STIPULATION AND [PROPOSED] ORDER (Derivative Action) 22 Judge: Honorable Jon S. Tigar Courtroom: 9 Date Action Filed: October 24, 2016 23 24 25 26 27 28 STIPULATION AND [PROPOSED] ORDER Lead Case No. 3:16-cv-06136-JST 1 Plaintiffs Jim Porter, Ernesto Espinoza, and Francis Fleming ("Plaintiffs"), individual 2 defendants Richard Costolo, Anthony Noto, Jack Dorsey, Peter Fenton, David Rosenblatt, 3 Marjorie Scardino, Evan Williams, Peter Chernin, Peter Currie, and nominal defendant 4 Twitter, Inc. ("Twitter" and, together with the individual defendants, the "Defendants"), 5 through their respective counsel, hereby stipulate as follows: 6 WHEREAS, on April 12, 2017, parties filed a Stipulation and [Proposed] Order 7 Staying the Action, pending the outcome of a motion to dismiss a related federal securities 8 class action in this Court, entitled Shenwick v. Twitter, Inc., No. 3:16-cv-05314-JST (the 9 "Securities Action"); 10 11 WHEREAS, on October 16, 2017, the Court issued an order in the Securities Action granting in part and denying in part defendants' motion to dismiss; 12 WHEREAS, pursuant to the Court's April 13, 2017 Order, the parties in this 13 consolidated derivative action (the "Derivative Action") are to submit a proposed scheduling 14 stipulation to the Court by November 15, 2017, 30 days after the ruling on the motion to 15 dismiss in the Securities Action; 16 WHEREAS, the parties have been in ongoing discussions and continue to discuss 17 (1) the impact of the ruling on the motion to dismiss in the Securities Action on the Derivative 18 Action, (2) Defendants' claim that the Derivative Action must be litigated in Delaware 19 pursuant to a forum selection clause, (3) Defendants' position that the Derivative Action 20 should be stayed pending resolution of the Securities Action, (4) the parties' respective 21 positions on the next steps in the Derivative Action, and (5) a proposed schedule with respect 22 to these next steps; 23 WHEREAS, the parties agree, subject to order of the Court, that they shall continue 24 their discussions and shall submit to the Court a proposed scheduling stipulation on or before 25 December 15, 2017; and 26 27 28 1 STIPULATION AND [PROPOSED] ORDER Lead Case No. 3:16-cv-06136-JST 1 WHEREAS, the parties further agree that by entering into this stipulation, Defendants 2 expressly reserve and do not waive their defenses and objections in the Derivative Action, 3 including defenses and objections to jurisdiction, forum and venue; 4 5 NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED, by and between the parties, through their undersigned counsel, subject to the approval of the Court, as follows: 6 1. The parties shall have up to and including December 15, 2017 to submit to the 7 Court a proposed scheduling stipulation. 8 2. Defendants' time to respond to the complaint that Plaintiffs filed during the 9 pendency of the stay in this Derivative Action shall be extended until at least 30 10 days after the parties submit a scheduling stipulation to the Court. 11 3. In entering into this Stipulation, Defendants expressly reserve all, and do not 12 waive any, of their defenses and objections in this Derivative Action, including 13 defenses and objections to jurisdiction, forum and venue. Dated: November 15, 2017 15 18 S UNIT ED 17 S DISTRICT TE C TA RT U O 16 ROBBINS ARROYO LLP FELIPE J. ARROYO BRIAN J. ROBBINS SHANE P. SANDERS DERED SO OR IT IS 19 ER 23 24 A H 22 . Ti ga r FO nS J u d ge J o 600 B Street, Suite 1900 San Diego, CA 92101 Telephone: (619) 525-3990 Facsimile: (619) 525-3991 brobbins@robbinsarroyo.com farroyo@robbinsarroyo.com ssanders@robbinsarroyo.com LI RT 21 NO 20 By: /s/ Shane P. Sanders SHANE P. SANDERS R NIA 14 N F D IS T IC T O R C Dated: November 16, 2017 25 26 27 28 2 STIPULATION AND [PROPOSED] ORDER Lead Case No. 3:16-cv-06136-JST 1 Dated: November 15, 2017 JOHNSON & WEAVER, LLP FRANK J. JOHNSON PHONG L. TRAN 2 3 By: /s/ Frank J. Johnson FRANK J. JOHNSON 4 600 West Broadway, Suite 1540 San Diego, CA 92101 Telephone: (619) 230-0063 Facsimile: (619) 255-1856 frankj@johnsonandweaver.com phongt@johnsonandweaver.com 5 6 7 8 Co-Lead Counsel for Plaintiffs 9 10 Dated: November 15, 2017 SIMPSON THACHER & BARTLETT LLP SIMONA G. STRAUSS 11 By: /s/ Simona G. Strauss SIMONA G. STRAUSS 12 2475 Hanover Street Palo Alto, CA 94304 Telephone: (650) 251-5203 Facsimile: (650) 251-5002 sstrauss@stblaw.com 13 14 15 Attorneys for Defendants Richard Costolo, Anthony Noto, Jack Dorsey, Peter Fenton, David Rosenblatt, Marjorie Scardino, Evan Williams, Peter Chernin, Peter Currie, and Nominal Defendant Twitter, Inc. 16 17 18 19 20 21 22 SIGNATURE ATTESTATION I am the ECF user whose identification and password are being used to file the foregoing Stipulation and [Proposed] Order. In compliance with Local Rule 5-1(i)(3), I hereby attest that concurrence in the filing of this document has been obtained. 23 Dated: November 15, 2017 /s/ Shane P. Sanders Shane P. Sanders 24 25 26 27 28 3 STIPULATION AND [PROPOSED] ORDER Lead Case No. 3:16-cv-06136-JST

Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia.


Why Is My Information Online?