Clevlen v. Anthera Pharmaceuticals, Inc. et al
Filing
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STIPULATION AND ORDER RE 13 to Continue Initial CMC, reset related deadlines and extend defendants' time to answer or otherwise respond to the complaint. Signed by Judge Richard Seeborg on 3/9/17. (cl, COURT STAFF) (Filed on 3/10/2017)
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Michael T. Jones (SBN 290660)
mjones@goodwinlaw.com
Lloyd Winawer (SBN 157823)
lwinawer@goodwinlaw.com
Nicholas A. Reider (SBN 296440)
nreider@goodwinlaw.com
GOODWIN PROCTER LLP
135 Commonwealth Drive
Menlo Park, CA 94025-1105
Tel.: (650) 752-3100
Fax: (650) 853-1038
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Attorneys for Defendants
Anthera Pharmaceuticals, Inc., Paul F. Truex,
Craig Thompson, May Liu, and William Shanahan
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[Additional Counsel on Signature Page]
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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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BRIAN CLEVLEN, individually and on behalf
of all others similarly situated,
Plaintiff,
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v.
ANTHERA PHARMACEUTICALS, INC.,
PAUL F. TRUEX, CRAIG THOMPSON,
MAY LIU and WILLIAM SHANAHAN,
Defendants.
Case No.: 3:17-cv-00715-RS
STIPULATION AND [PROPOSED] ORDER
TO CONTINUE INITIAL CMC, RESET
RELATED DEADLINES AND EXTEND
DEFENDANTS’ TIME TO ANSWER OR
OTHERWISE RESPOND TO THE
COMPLAINT
Judge:
Hon. Richard Seeborg
Courtroom: 3—17th Floor
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STIP AND [PROPOSED] ORDER TO CONTINUE INITIAL CMC, RESET RELATED
DEADLINES AND EXTEND DEFENDANTS’ TIME TO ANSWER OR OTHERWISE
RESPOND TO THE COMPLAINT
Case No.: 3:17-cv-00715-RS
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Defendants Anthera Pharmaceuticals, Inc. (“Anthera”), Paul F. Truex, Craig Thompson, May
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Liu, and William Shanahan (collectively, the “Defendants”) and Plaintiff Brian Clevlen, individually
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and on behalf of all others similarly situated (“Plaintiff” and, together with Defendants, the
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“Parties”), through their respective undersigned counsel, HEREBY STIPULATE AND AGREE AS
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FOLLOWS:
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WHEREAS, on February 13, 2017, Plaintiff initiated this action by filing a Class Action
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Complaint for Violations of Federal Securities Laws (the “Complaint”) in the United States District
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Court for the Northern District of California, purportedly brought on behalf of all persons who
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purchased Anthera common stock between February 10, 2015 and December 27, 2016;
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WHEREAS, the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) sets forth
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mandatory, comprehensive, and specific procedures governing the selection of a lead plaintiff to
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oversee class actions brought under the federal securities laws. See 15 U.S.C. §§ 78u-4, et seq.
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WHEREAS, the PSLRA requires that notice of the commencement of an action be given to
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permit other putative class members (who may seek to serve as lead plaintiff on behalf of the class)
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the opportunity to file motions: (a) to be appointed lead plaintiff to oversee and direct the
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prosecution of the action; and (b) to consolidate other complaints which may be filed arising from
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the same nexus of operative facts. See 15 U.S.C. §§ 78u-4(a)(3)(A) & (B). Under the PSLRA, this
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notice must be given within twenty (20) days after the filing of the securities fraud class action, and
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prospective lead plaintiffs are given sixty (60) days from the publication of notice to move for
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appointment as lead plaintiff. 15 U.S.C. § 78u-4(a)(3)(A)(i). Thereafter, the Court may rule upon
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the competing motions, applying the statutory framework in 15 U.S.C. § 78u-4(a)(3)(B)(iii)(I).
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WHEREAS, Plaintiff anticipates after the appointment of the lead plaintiff, lead plaintiff will
file a consolidated amended complaint;
WHEREAS, in effect, this action cannot be prosecuted against any defendant until this Court
first selects a lead plaintiff and lead counsel to represent the putative class;
WHEREAS, it would be more efficient to extend the time for Defendants to answer or
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STIP AND [PROPOSED] ORDER TO CONTINUE INITIAL CMC, RESET RELATED
DEADLINES AND EXTEND DEFENDANTS’ TIME TO ANSWER OR OTHERWISE
RESPOND TO THE COMPLAINT
Case No.: 3:17-cv-00715-RS
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otherwise respond to the Complaint in the action until after the Court’s appointment of a lead
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plaintiff and lead plaintiff’s designation of an operative complaint or filing of an amended
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complaint;
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WHEREAS, to avoid causing Plaintiff to incur the costs and delay associated with serving
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Defendants Paul F. Truex, Craig Thompson, May Liu, and William Shanahan (collectively, the
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“Individual Defendants”), counsel for Defendants has agreed to accept service of the Complaint on
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the Individual Defendants’ behalf;
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WHEREAS, the parties believe that, because the PSLRA stays all discovery, including initial
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disclosures, pending the disposition of motions to dismiss in securities actions such as this one, it is
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appropriate to defer the initial case management conference and the completion of initial disclosures
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until the lead plaintiff has been appointed, the lead plaintiff’s selection of lead counsel has been
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approved, the lead plaintiff has filed a consolidated amended complaint, Defendants have had the
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opportunity to file any motion to dismiss, and the Court has ruled on Defendants’ anticipated motion
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to dismiss. See, e.g., Medhekar v. United States Dist. Court, 99 F.3d 325, 328-29 (9th Cir. 1996)
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(holding F.R.C.P. 26(a)’s initial disclosure requirements are disclosures or other proceedings for
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purposes of PSLRA’s stay provision, and must be stayed pending disposition of motion to dismiss).
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NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED, by and between the
Parties, through their respective counsel of record, that:
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Defendants need not answer, move or otherwise respond to the Complaint in this
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action until a date to be set following the appointment of a lead plaintiff pursuant to 15 U.S.C. §
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78u-4(a)(3)(B) and the filing by such lead plaintiff of an amended complaint.
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2.
The Initial Case Management Conference shall be held thirty (30) days after an
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order directing Defendants to file an answer (if any), or as soon as possible thereafter consistent
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with the Court’s schedule.
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3.
This Stipulation is entered into without prejudice to any party seeking any
interim relief.
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STIP AND [PROPOSED] ORDER TO CONTINUE INITIAL CMC, RESET RELATED
DEADLINES AND EXTEND DEFENDANTS’ TIME TO ANSWER OR OTHERWISE
RESPOND TO THE COMPLAINT
Case No.: 3:17-cv-00715-RS
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4.
Nothing in this Stipulation shall be construed as a waiver of any of
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Defendants’ rights or positions in law or equity, or as a waiver of any defenses that
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Defendants would otherwise have, including, without limitation, jurisdictional defenses.
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5.
The Parties have not sought any other extensions of time in this action.
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6.
The Parties do not seek to reset these dates for the purpose of delay, and
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the proposed new dates will not have an effect on any pre-trial and trial dates as the Court has yet
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to schedule these dates.
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WHEREFORE, the Parties respectfully request that this Court issue an order granting the
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Parties’ request to reset the Initial Case Management Conference and related deadlines as set forth
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herein.
IT IS SO STIPULATED, THROUGH COUNSEL OF RECORD.
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DATED: March 8, 2017
GOODWIN PROCTER LLP
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/s/ Michael T. Jones
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Michael T. Jones (SBN 290660)
mjones@goodwinlaw.com
Lloyd Winawer (SBN 157823)
lwinawer@goodwinlaw.com
Nicholas A. Reider (SBN 296440)
nreider@goodwinlaw.com
GOODWIN PROCTER LLP
135 Commonwealth Drive
Menlo Park, CA 94025-1105
Tel.: (650) 752-3100
Fax: (650) 853-1038
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Counsel for Defendants Anthera
Pharmaceuticals, Inc., Paul F. Truex, Craig
Thompson, May Liu, and William Shanahan
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STIP AND [PROPOSED] ORDER TO CONTINUE INITIAL CMC, RESET RELATED
DEADLINES AND EXTEND DEFENDANTS’ TIME TO ANSWER OR OTHERWISE
RESPOND TO THE COMPLAINT
Case No.: 3:17-cv-00715-RS
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DATED: March 8, 2017
LEVI & KORSINSKY LLP
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/s/ Rosemary M. Rivas
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Rosemary M. Rivas
44 Montgomery Street, Suite 650
San Francisco, CA 94104
Tel.: (415) 291-2420
Fax: (415) 484-1294
Shannon L. Hopkins (to be admitted pro hac
vice)
shopkins@zlk.com
Stephanie A. Bartone (to be admitted pro hac
vice)
sbartone@zlk.com
733 Summer Street, Suite 304
Stamford, CT 06901
Tel: (203) 992-4523
Fax: (212) 363-7171
Counsel for Plaintiffs Brian Clevlen, individually
and on behalf of all others similarly situated
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STIP AND [PROPOSED] ORDER TO CONTINUE INITIAL CMC, RESET RELATED
DEADLINES AND EXTEND DEFENDANTS’ TIME TO ANSWER OR OTHERWISE
RESPOND TO THE COMPLAINT
Case No.: 3:17-cv-00715-RS
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ORDER
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PURSUANT TO STIPULATION, IT IS SO ORDERED.
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DATED: March __, 2017
____________________________________
THE HONORABLE RICHARD SEEBORG
UNITED STATES DISTRICT JUDGE
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STIP AND [PROPOSED] ORDER TO CONTINUE INITIAL CMC, RESET RELATED
DEADLINES AND EXTEND DEFENDANTS’ TIME TO ANSWER OR OTHERWISE
RESPOND TO THE COMPLAINT
Case No.: 3:17-cv-00715-RS
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