Young v. Solana Labs, Inc. et al

Filing 59

ORDER RE LEAD PLAINTIFF AND LEAD COUNSEL. Amended Pleadings due by 1/12/2024. ***Civil case administratively closed in interim. Signed by Judge James Donato on 11/13/2023. (jdlc2, COURT STAFF) (Filed on 11/13/2023)

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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MARK YOUNG,
Plaintiff,

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United States District Court
Northern District of California

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Case No. 22-cv-03912-JD
ORDER RE LEAD PLAINTIFF AND
LEAD COUNSEL

v.
SOLANA LABS, INC., et al.,
Defendants.

The Court grants movant Mark Young’s motion to serve as lead plaintiff and to appoint
lead counsel, Dkt. No. 33, and orders as follows.
Pursuant to Section 27(a)(3)(B) of the Securities Act, 15 U.S.C. § 77z-1(a)(3)(B), movant

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Mark Young is appointed as lead plaintiff for the putative class in this action. The pendency of

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this action was published as required under 15 U.S.C. § 77z-1(a)(3)(A). See Dkt. No. 20. It is not

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disputed that Young has the largest financial interest in the relief sought by the class, and he

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otherwise satisfies the requirements of Rule 23 of the Federal Rules of Civil Procedure. See 15

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U.S.C. § 77z-1(a)(3)(B); In re Cavanaugh, 306 F.3d 726 (9th Cir. 2002).

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Young’s counsel in this action is Schneider Wallace Cottrell Konecky LLP. Pursuant to

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Section 27(a)(3)(B)(v) of the Securities Act, 15 U.S.C. § 77z-1(a)(3)(B)(v), the Court approves

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Young’s selected and retained counsel, Schneider Wallace, to serve as lead counsel for the

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putative class in the action.

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Lead plaintiff Young will file an amended complaint by January 12, 2024. If the amended
complaint challenges any statements as false or misleading under the securities laws, the

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challenged statements must be identified in chart form as part of the complaint. See In re Stitch

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Fix, Inc. Securities Litigation, Case No. 18-cv-06208-JD, Dkt. No. 80 at 5.

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The case will be administratively closed pending the filing of the amended complaint.

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IT IS SO ORDERED.

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Dated: November 13, 2023

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JAMES DONATO
United States District Judge

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United States District Court
Northern District of California

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