In re VERISIGN, INC. DERIVATIVE LITIGATION

Filing 125

STIPULATION AND ORDER rescheduling the Case Management Conference to 7/30/2009 at 02:30 PM. Signed by Judge Phyllis J. Hamilton on 06/11/09. (rbe, COURT STAFF) (Filed on 6/11/2009)

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CHRISTOPHER H. McGRATH (SB# 149129) [e-mail] KIMBERLEY A. DONOHUE (SB# 247027) [e-mail] PAUL, HASTINGS, JANOFSKY & WALKER LLP 4747 Executive Drive, 12th Floor San Diego, CA 921210 Telephone: [phone] Facsimile: [phone] THOMAS A. ZACCARO (SB# 183241) [e-mail] PAUL, HASTINGS, JANOFSKY & WALKER LLP 515 South Flower Street, 25th Floor Los Angeles, CA 90074-2228 Telephone: [phone] Facsimile: [phone] EDWARD HAN (SB# 196924) [e-mail] PAUL, HASTINGS, JANOFSKY & WALKER LLP 55 Second Street, 24th Floor San Francisco, CA 94105 Telephone: [phone] Facsimile: [phone] Attorneys for Nominal Defendant VeriSign, Inc. UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION

In re VERISIGN, INC. DERIVATIVE LITIGATION

MASTER FILE NO. C-06-4165-PJH STIPULATION AND [PROPOSED] ORDER RESCHEDULING CASE MANAGEMENT CONFERENCE Judge: Ctrm: Hon. Phyllis J. Hamilton 5, 17th Floor

This Document Relates To: ALL ACTIONS.

Master File No. C-06-4165-PJH

STIP & [PROPOSED] ORDER RESCHEDULING CMC

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The parties, by their undersigned counsel, hereby stipulate to the following: WHEREAS, on September 14, 2007, the Court granted the motion by KPMG LLP to compel arbitration of the claims against it and granted the other defendants' respective motions to dismiss in the above-captioned matter; WHEREAS, on October 12, 2007, the Court granted the plaintiffs' administrative motion to enlarge the time to file the second amended complaint, and ordered that the second amended complaint be filed by November 16, 2007 with defendants' responses filed by December 18, 2007; WHEREAS, the plaintiffs filed the Verified Second Amended Shareholder Derivative Complaint on November 16, 2007 ("SAC"); WHEREAS, on May 13, 2008, the Court granted the parties' stipulation to (1) set a schedule for the filing of defendants' responses to the SAC, and (2) schedule a case management conference on June 19, 2008 to discuss the progress of settlement negotiations; WHEREAS, on June 11, 2008, the Court granted the parties' stipulation to reschedule the case management conference to July 24, 2008; WHEREAS, there is a related state court consolidated putative class action entitled In re VeriSign, Inc. Options Litigation, Master Case No. 1-07-CV-085890, pending in the California State Superior Court, Santa Clara County ("Parallel State Court Class Action"), before the Honorable Jack Komar, with many of the same named defendants and similar underlying allegations; WHEREAS, there is a related state court derivative action entitled Port Authority of Allegheny County Retirement & Disability Allowance Plan v. Bidzos et al., Case No. 1-06-CV069192, pending in the California State Superior Court, Santa Clara Count ("State Court Derivative Action"), before the Honorable Jack Komar, which has been stayed pending the outcome of this action; WHEREAS, due to the state court's continuance of the hearing on defendants' motions to dismiss (demurrers) in the Parallel State Court Class Action, the Court granted the parties' stipulation to reschedule the case management conference to August 28, 2008;
Master File No. C-06-4165-PJH

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STIP & [PROPOSED] ORDER RESCHEDULING CMC

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WHEREAS, a hearing on the defendants' motions to dismiss (demurrers) the Parallel State Court Class Action complaint was held on August 1, 2008, at which time Judge Komar granted defendants' motions to dismiss (demurrers) and granted plaintiff leave to amend the complaint; WHEREAS, the parties filed a Joint Case Management Statement on August 21, 2008, after which the Court took the August 28, 2008 case management conference off calendar and rescheduled it to December 4, 2008; WHEREAS, the parties in this action and the Parallel State Court Class Action met in Washington, D.C., on October 1, 2008 for the purpose of engaging in settlement discussions; WHEREAS, on November 24, 2008, the Court granted the parties' stipulation to continue the December 4, 2008 case management conference to February 5, 2009; WHEREAS the parties to the Parallel State Court Class Action, the State Court Derivative Action and this action met in Washington, D.C., on October 1, 2008 for the purpose of engaging in settlement discussions, and those settlement discussions have been ongoing since that date, including settlement discussions held on February 25, 2009; WHEREAS the parties have reached a collective settlement in principle of this action and the related actions, have exchanged a draft stipulation of settlement, and are in the process of drafting the papers outlining the terms of that settlement; WHEREAS, the parties believe that additional time is necessary for the parties to finalize the terms of the stipulation of settlement; and WHEREAS, the parties believe the case management conference currently scheduled for June 11, 2009 should be rescheduled to a later date to provide an opportunity for the parties to continue their settlement discussion. NOW, THEREFORE, the parties hereby stipulate to the following: The currently scheduled case management conference on June 11, 2009 to discuss the progress of settlement negotiations between the parties will be rescheduled to July 30, 2009 at 2:30 p.m. or as soon thereafter as is convenient for the Court.

Master File No. C-06-4165-PJH

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STIP & [PROPOSED] ORDER RESCHEDULING CMC

06/11/09

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