Clarke v. Ocera Therapeutics, Inc. et al

Filing 28

STIPULATION AND ORDER RE 27 JOINT STIPULATION TO CONTINUE INITIAL CASE MANAGEMENT CONFERENCE. Initial Case Management Conference previously set for 6/28/2018 has been continued to 10/25/2018 at 10:00 AM in San Francisco, Courtroom 03, 17th Floor. Signed by Judge Richard Seeborg on 6/8/18. (cl, COURT STAFF) (Filed on 6/8/2018)

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ANNA ERICKSON WHITE (Bar No. 161385)
[e-mail]
CHRISTIN J. HILL (Bar No. 247522)
[e-mail]
MORRISON & FOERSTER LLP
425 Market Street
San Francisco, California 94105-2482
Telephone: [phone]
Facsimile: 415.268.7522

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Attorneys for Defendant Ocera Therapeutics, Inc.

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[Additional Counsel listed on signature block]

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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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IN RE OCERA THERAPEUTICS, INC.
SECURITIES LITIGATION

Lead Case No.

3:17-cv-06687-RS

JOINT STIPULATION TO
CONTINUE INITIAL CASE
MANAGEMENT CONFERENCE
AND [PROPOSED] ORDER

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JOINT STIPULATION AND [PROPOSED] ORDER CONTINUING INITIAL CMC
Case No. 3:17-cv-06687- RS
sf-3908214

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Pursuant to Civil Local Rule 6-2 and 7-12, co-lead plaintiffs Samuel P. Clarke and

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William Paulus (“Plaintiffs”) and defendants Ocera Therapeutics, Inc., Eckard Weber, Linda

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Grais, Willard Dere, Steven James, Nina Kjellson, Anne VanLent, and Wendell Wierenga,

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(“Defendants,” and together with Plaintiffs, the “Parties”), by and through their undersigned

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counsel of record, hereby stipulate to set the pleading and briefing schedule in the above-

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captioned action.

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WHEREAS, this case was filed on November 20, 2017, by Samuel P. Clarke, a

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stockholder of Ocera Therapeutics, Inc. (“Ocera”), as a putative class action, captioned Samuel P.

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Clarke v. Ocera Therapeutics, Inc. et al., Case No. 3:17-cv-06687 (the “Clarke Action”);

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WHEREAS, on March 27, 2018, the Court consolidated the Clarke Action with a related

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action, and appointed Plaintiffs as co-lead plaintiffs for the putative class (Dkt. No. 24). The case

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is now captioned, In re Ocera Therapeutics, Inc. Securities Litigation, Lead Case No. 3:17-cv-

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06687-RS (the “Action”);

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WHEREAS, on April 26, 2018, Plaintiffs filed a Consolidated Complaint (the

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“Complaint”), which alleges violations of Section 14(e) and Section 20(a) of the Securities

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Exchange Act of 1934 and related regulations (Dkt. No. 25);

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WHEREAS, Defendants’ deadline to respond to the Complaint is June 11, 2018;

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WHEREAS, Defendants intend to file a motion to dismiss the Complaint on June 11,

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2018;
WHEREAS, pursuant to the Scheduling Order (Dkt. No 14), the motion to dismiss will be
fully briefed on or before August 27, 2018;

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WHEREAS, the initial Case Management Conference (“CMC”) for this Action was set

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for February 22, 2018, (Dkt. No. 5), and later continued to March 1, 2018 (Dkt. No. 10), and

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again continued to June 28, 2018 (Dkt No. 14);

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WHEREAS, the Parties believe that because the PSLRA stays all discovery, including

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initial disclosures, pending the disposition of motions to dismiss in securities actions such as this

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one, it is appropriate to defer the initial case management statement, initial case management

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conference, and the completion of initial disclosures until the Court has ruled on Defendants’
JOINT STIPULATION AND [PROPOSED] ORDER CONTINUING INITIAL CMC
Case No. 3:17-cv-06687- RS
sf-3908214

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anticipated motion to dismiss. See, e.g., Medhekar v. United States Dist. Court, 99 F.3d 325, 328–

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29 (9th Cir. 1996) (holding Fed. R. Civ. P. 26(a)’s initial disclosure requirements are disclosures

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or other proceedings for purposes of PSLRA’s stay provision, and must be stayed pending

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disposition of motion to dismiss);

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WHEREFORE, because this case will not be at issue until after the Defendants’ motion to

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dismiss is fully briefed and decided—and even then only if the pleading is sustained—the Parties

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agree and respectfully submit that a continuance of the initial CMC for at least 120 days would be

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reasonable and propose a continuance from June 28, 2018 to October 25, 2018.

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WHEREFORE, this Stipulation is entered into without prejudice to any party seeking any
interim relief;

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WHEREFORE, 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 Defendants

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would otherwise have, including, without limitation, jurisdictional defenses; and

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WHEREFORE, the Parties do not seek to stipulate to the foregoing schedule for the

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purpose of delay, and the proposed dates will not have an effect on any pre-trial and trial dates as

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the Court has yet to schedule these dates.

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JOINT STIPULATION AND [PROPOSED] ORDER CONTINUING INITIAL CMC
Case No. 3:17-cv-06687- RS
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Dated: June 7, 2018

Respectfully submitted,

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/s/ Christin J. Hill
Christin J. Hill (Bar No. 247522)
[e-mail]
MORRISON & FOERSTER LLP
425 Market Street
San Francisco, California 94105-2482
Telephone: [phone]
Facsimile: [phone]

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Counsel for Defendant Ocera Therapeutics,
Inc.

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/s/ Michael T. Jones
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Michael T. Jones (Bar No. 290660)
[e-mail]
GOODWIN PROCTER LLP
135 Commonwealth Drive
Menlo Park, CA 94025-1105
Telephone: [phone]
Facsimile: [phone]

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Counsel for Defendants Eckard Weber, Linda
Grais, Willard Dere, Steven James, Nina
Kjellson, Anne VanLent, and Wendell
Wierenga

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/s/ Rosemary M. Rivas
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Rosemary M. Rivas (Bar No. 209147)
[e-mail]
LEVI & KORSINSKY, LLP
44 Montgomery Street, Suite 650
San Francisco, CA 94104
Telephone: [phone]
Facsimile: [phone]

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Counsel for Plaintiffs

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FILER’S ATTESTATION
Pursuant to Civil Local Rule 5-1 regarding signatures, I attest under penalty of perjury that
the concurrence in the filing of this document has been obtained from all signatories.

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/s/ Christin J. Hill
Christin J. Hill

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JOINT STIPULATION AND [PROPOSED] ORDER CONTINUING INITIAL CMC
Case No. 3:17-cv-06687- RS
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[PROPOSED] ORDER
PURSUANT TO STIPULATION, IT IS SO ORDERED.
Date: 6/8/18

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______________________________________
THE HONORABLE RICHARD SEEBORG
UNITED STATES DISTRICT JUDGE

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JOINT STIPULATION AND [PROPOSED] ORDER CONTINUING INITIAL CMC
Case No. 3:17-cv-06687- RS
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