Hessefort v. Super Micro Computer, Inc. et al

Filing 49

STIPULATION AND ORDER re 47 STIPULATION WITH PROPOSED ORDER RE: Filing of Consolidated Complaint by Lead Plaintiff, Defendants' Response Thereto, and Continuing Initial Case Management Conference filed by New York Hotel Trades Council & Hotel Association of New York City, Inc. Pension Fund. Amended Pleadings due by 9/24/2018. Signed by Judge Jon S. Tigar on June 26, 2018. (wsn, COURT STAFF) (Filed on 6/26/2018)

1 ROBBINS GELLER RUDMAN
& DOWD LLP
2 SHAWN A. WILLIAMS (213113)
DANIEL J. PFEFFERBAUM (248631)
3 ARMEN ZOHRABIAN (230492)
Post Montgomery Center
4 One Montgomery Street, Suite 1800
San Francisco, CA 94104
5 Telephone: [phone]
415/288-4534 (fax)
6 [e-mail]
[e-mail]
7 [e-mail]
8 Lead Counsel for Plaintiffs
9

UNITED STATES DISTRICT COURT

10

NORTHERN DISTRICT OF CALIFORNIA

11 LOGAN HESSEFORT, Individually and on
Behalf of All Others Similarly Situated,
12
Plaintiff,
13
vs.
14
SUPER MICRO COMPUTER, INC., et al.,
15
Defendants.
16
17
18
19
20
21
22
23
24
25
26
27
28

1442805_2

)
)
)
)
)
)
)
)
)
)
)

Lead Case No. 3:18-cv-00838-JST
CLASS ACTION
JOINT STIPULATION AND [PROPOSED]
ORDER RE: FILING OF CONSOLIDATED
COMPLAINT BY LEAD PLAINTIFF,
DEFENDANTS’ RESPONSE THERETO,
AND CONTINUING INITIAL CASE
MANAGEMENT CONFERENCE

1

WHEREAS, on February 8, 2018, two class action complaints were filed against Defendants

2 Super Micro Computer, Inc. (the “Company”), Charles Liang, and Howard Hideshima (collectively,
3 “Defendants”): (1) Hessefort v. Super Micro Computer, Inc. No 3:18-cv-838 (ECF No. 1), and (2)
4 United Union of Roofers, Waterproofers & Allied Workers Local Union No. 8 WBPA Fund v. Super
5 Micro Computer, Inc., No. 3:18-cv-850-JST (ECF No. 1) (collectively, the “Complaints”);
6

WHEREAS, the Complaints allege claims under the federal securities laws, regarding among

7 other matters the Company’s failure to timely file its 2017 Annual Report on Form 10-K and other
8 financial statements in light of an internal investigation into revenue recognition, that are subject to
9 the procedural requirements of the Private Securities Litigation Reform Act of 1995 (“Reform Act”),
10 including those set forth in 15 U.S.C. §78u-4;
11

WHEREAS, on April 9, 2018, New York Hotel Trades Council & Hotel Association of New

12 York City, Inc. Pension Fund (“Pension Fund”) moved for an order: (1) consolidating the related
13 actions pursuant to Fed. R. Civ. P. 42(a); (2) appointing the Pension Fund as lead plaintiff; and (3)
14 approving the Pension Fund’s selection of Robbins Geller Rudman & Dowd LLP (“Robbins Geller”)
15 as lead counsel;
16

WHEREAS, on May 8, 2018, the Court found United Union of Roofers, Waterproofers &

17 Allied Workers Local Union No. 8 WBPA Fund v. Super Micro Computer, Inc., No. 3:18-cv-850 to
18 be related to Hessefort v. Super Micro Computer, Inc., No 3:18-cv-838 (ECF No. 41);
19

WHEREAS, on May 9, 2018, the Clerk issued notice that the Initial Case Management

20 Conference set for May 24, 2018, was continued to August 29, 2018, and that a Joint Case
21 Management Statement was due by 5:00 p.m. on August 20, 2018 (ECF No. 42);
22

WHEREAS, on May 25, 2018, the Court appointed the Pension Fund as lead plaintiff,

23 approved Plaintiff’s selection of Robbins Geller Rudman & Dowd as lead counsel, and consolidated
24 Hessefort v. Super Micro Computer, Inc., No 3:18-cv-838 and United Union of Roofers,
25 Waterproofers & Allied Workers Local Union No. 8 WBPA Fund v. Super Micro Computer, Inc.,
26 No. 3:18-cv-850. ECF No. 46;
27

WHEREAS, the Company has not yet filed its SEC Form 10-K for Fiscal Year 2017, or its

28 Forms 10-Q for the quarters ended September 30, 2017, December 31, 2017, or March 31, 2018;
1442805_2

JOINT STIP AND [PROPOSED] ORDER RE: FILING OF CONSOLIDATED COMPLAINT BY LEAD
PLTFF, DEFS’ RESPONSE THERETO, AND CONTINUING INITIAL CMC - 3:18-cv-00838-JST

-1-

1

WHEREAS, on May 10, 2018, Super Micro Computer, Inc. issued a press release stating that

2 “the Nasdaq Hearings Panel (the ‘Panel’) of The Nasdaq Stock Market (‘Nasdaq’) has granted the
3 Company’s request to continue its listing on Nasdaq through August 24, 2018, subject to the
4 condition that the Company becomes current with its [U.S. Securities and Exchange Commission
5 ‘SEC’] filings by that date . . .”;
6

WHEREAS, because the Company’s anticipated SEC filings (or potential delisting) are

7 expected by lead plaintiff to bear directly on lead plaintiff’s allegations and likely will be
8 incorporated into a consolidated complaint, the parties propose a schedule, subject to the Court’s
9 approval, that allows time for lead plaintiff to assess the content of the Company’s delinquent filings
10 with the SEC before filing the consolidated complaint, as well as the continuance of the Initial Case
11 Management Conference (and related Joint Case Management Statement);
12

WHEREAS, the proposed schedule would help avoid the unnecessary expenditure of judicial

13 resources or effort by the Court or the parties;
14

WHEREAS, undersigned counsel for Defendants are authorized to accept, and hereby does

15 accept, service of the summons and complaint in this matter on behalf of Defendants, without
16 prejudice and without waiver of any of Defendants’ defenses, objections, or arguments in this matter
17 or any other matter, except as to sufficiency of service of process; and
18

WHEREAS, Defendants intend to file a motion to dismiss, which would trigger a stay of

19 discovery under the Reform Act, 15 U.S.C. §78u-4(b)(3)(B);
20

NOW THEREFORE, the undersigned parties, by and through their counsel of record,

21 stipulate as follows:
22

1.

Defendants hereby waive service of the summons and Complaint and accept service

23 of the Complaint as of the date of this Stipulation;
24

2.

Lead plaintiff shall file and serve a consolidated complaint no later than September

25 24, 2018;
26

3.

Defendants shall file and serve any answer or other response within forty-five (45)

27 days of service of the consolidated complaint;
28
1442805_2

JOINT STIP AND [PROPOSED] ORDER RE: FILING OF CONSOLIDATED COMPLAINT BY LEAD
PLTFF, DEFS’ RESPONSE THERETO, AND CONTINUING INITIAL CMC - 3:18-cv-00838-JST

-2-

1

4.

Lead plaintiff shall file and serve any opposition to Defendants’ motion to dismiss

2 within forty-five (45) days of service of the motion to dismiss;
3

5.

Defendants shall file and serve any reply brief in support of the motion to dismiss

4 within thirty (30) days of service of any opposition brief; and
5

6.

The Initial Case Management Conference, currently scheduled for August 29, 2018 at

6 2:00 p.m., is adjourned to such other date and time as this Court shall order. Until the date of such
7 Case Management Conference, the stay of discovery shall remain in place, subject to the parties’
8 right to seek to lift the stay pursuant to 15 U.S.C. §78u-4(b)(3)(B).
9 DATED: June 25, 2018
10

ROBBINS GELLER RUDMAN
& DOWD LLP
SHAWN A. WILLIAMS
DANIEL J. PFEFFERBAUM

11
12

s/ Daniel J. Pfefferbaum
DANIEL J. PFEFFERBAUM

13

16

Post Montgomery Center
One Montgomery Street, Suite 1800
San Francisco, CA 94104
Telephone: [phone]
415/288-4534 (fax)

17

Lead Counsel for Plaintiffs

14
15

18
19 DATED: June 25, 2018
20

JONES DAY
STEPHEN D. HIBBARD
JOHN C. TANG

21
22
23
24
25
26

s/ Stephen D. Hibbard
STEPHEN D. HIBBARD
555 California Street
26th Floor
San Francisco, CA 94104
Telephone: [phone]
415/ 875-5700 (fax)
Counsel for Defendants

27
28
1442805_2

JOINT STIP AND [PROPOSED] ORDER RE: FILING OF CONSOLIDATED COMPLAINT BY LEAD
PLTFF, DEFS’ RESPONSE THERETO, AND CONTINUING INITIAL CMC - 3:18-cv-00838-JST

-3-

1

I, Daniel J. Pfefferbaum, am the ECF User whose ID and password are being used to file this

2 JOINT STIPULATION AND [PROPOSED] ORDER RE: FILING OF CONSOLIDATED
3 COMPLAINT BY LEAD PLAINTIFF, DEFENDANTS’ RESPONSE THERETO, AND
4 CONTINUING INITIAL CASE MANAGEMENT CONFERENCE. In compliance with Local Rule
5 5-1(i)(3), I hereby attest that counsel for Defendants, Stephen D. Hibbard, concurs in this filing.
6

Dated: June 25, 2018

7

s/ Daniel J. Pfefferbaum
DANIEL J. PFEFFERBAUM

8
9
*

10

13
14

*

ORDER

11
12

*

IT IS SO ORDERED.
June 26, 2018
DATED: _________________________

____________________________________
THE HONORABLE JON S. TIGAR
UNITED STATES DISTRICT JUDGE

15
16
17
18
19
20
21
22
23
24
25
26
27
28
1442805_2

JOINT STIP AND [PROPOSED] ORDER RE: FILING OF CONSOLIDATED COMPLAINT BY LEAD
PLTFF, DEFS’ RESPONSE THERETO, AND CONTINUING INITIAL CMC - 3:18-cv-00838-JST

-4-