Sgarlata v. PayPal Holdings, Inc. et al

Filing 26

ORDER RE: MARCH 15, 2018 HEARING. COUNSEL FOR ALL INTERESTED PARTIES SHOULD BE PREPARED TO DISCUSS HOW TO PROCEED IN LIGHT OF FACT THAT SOLE MOVANT DOES NOT APPEAR TO BE MEMBER OF PUTATIVE CLASS. Signed by Judge Edward M. Chen on March 8, 2018. (emclc1, COURT STAFF) (Filed on 3/8/2018)

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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RONALD SGARLATA,
Plaintiff,

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ORDER RE: MARCH 15, 2018
HEARING

v.
PAYPAL HOLDINGS, INC., et al.,

Docket No. 14

Defendants.

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For the Northern District of California

United States District Court

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Case No. 17-cv-06956-EMC

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Counsel for all interested parties should be prepared to discuss at the March 15, 2018

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hearing how the case should proceed in light of the fact that the sole movant seeking appointment

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as lead plaintiff, Edwin K. Bell, does not appear to be a member of the proposed class because he

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only claims to have purchased options for shares. See Compl. ¶ 43 (“Plaintiff brings this action as

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a class action . . . on behalf of a Class, consisting of all those who purchased or otherwise acquired

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PayPal common shares . . . ”); Pafiti Decl., Docket No. 15, Ex. 1 (notice to investors that case was

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filed “on behalf of a class consisting of investors who purchased or otherwise acquired common

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shares of PayPal . . .”). The only other movant, Michael Eckert, has withdrawn his application.

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See Docket Nos. 10, 18.

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IT IS SO ORDERED.
Dated: March 8, 2018
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EDWARD M. CHEN
United States District Judge