In re VERISIGN, INC. DERIVATIVE LITIGATION

Filing 134

STIPULATION AND ORDER RESCHEDULING CASE MANAGEMENT CONFERENCE re 133 Stipulation filed by VeriSign Inc. Signed by Judge Phyllis J. Hamilton on 11/17/09. (nah, COURT STAFF) (Filed on 11/17/2009)

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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 92121 Telephone: [phone] Facsimile: [phone] THOMAS A. ZACCARO (SB# 183241) [e-mail] PAUL, HASTINGS, JANOFSKY & WALKER LLP 515 South Flower Street, Twenty-Fifth 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 OAKLAND DIVISION

In re VERISIGN, INC. DERIVATIVE LITIGATION

MASTER FILE NO. 4:06-cv-04165-PJH STIPULATION AND [PROPOSED] ORDER RESCHEDULING CASE MANAGEMENT CONFERENCE Judge: Ctrm: Hon. Phyllis J. Hamilton 3, 3rd Floor

This Document Relates To: ALL ACTIONS.

Master File No. 4:06-cv-04165-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. 4:06-cv-04165-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 Court has granted the parties' stipulations to continue the case management conferences in light of these settlement negotiations, most recently scheduling a case management conference for November 19, 2009; WHEREAS the parties have reached a collective settlement in principle of this action and the related actions, have exchanged drafts of the stipulation of settlement, are in the process of drafting the papers outlining the terms of that settlement, and are awaiting VeriSign's Board of Directors' review 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 November 19, 2009 should be rescheduled to a later date to provide an opportunity for the parties to continue their settlement discussion and for finalization of settlement documents. /// /// -2STIP & [PROPOSED] ORDER RESCHEDULING CMC

Master File No. 4:06-cv-04165-PJH

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NOW, THEREFORE, the parties hereby stipulate to the following: The currently scheduled case management conference on November 19, 2009 to discuss the progress of settlement negotiations between the parties will be rescheduled to December 17, 2:00 2009 at 2:30 p.m. or as soon thereafter as is convenient for the Court.

DATED: November 13, 2009

PAUL, HASTINGS, JANOFSKY & WALKER LLP

By:

/s/ Kimberley A. Donohue KIMBERLEY A. DONOHUE

Attorneys for Nominal Defendant VeriSign, Inc. DATED: November 13, 2009 AKIN, GUMP, STRAUSS, HAUER & FELD LLP

By:

/s/ Steven S. Kaufhold STEVEN S. KAUFHOLD

Attorneys for Defendants Stratton D. Sclavos, Dana L. Evan, and Gregory L. Reyes DATED: November 13, 2009 COOLEY GODWARD KRONISH LLP

By:

/s/ Koji F. Fukumura KOJI F. FUKUMURA

Attorneys for Defendants Kevin Compton, Quentin Gallivan, Michelle Guthrie, Diana S. Keith, Robert J. Korzeniewski, F. Terry Kremian, Scott G. Kriens, Roger H. Moore, Edward A. Mueller, Anil H.P. Pereira, William A. Roper, Jr., Arnold Schaeffer, Louis A. Simpson, and Richard A. Yanowitch DATED: November 13, 2009 ORRICK, HERRINGTON & SUTCLIFFE LLP

By:

/s/ Melinda Haag MELINDA HAAG

Attorneys for Defendants D. James Bidzos, William L. Chenevich, David J. Cowan, Len J. Lauer, and Timothy Tomlinson -3STIP & [PROPOSED] ORDER RESCHEDULING CMC

Master File No. 4:06-cv-04165-PJH

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DATED: November 13, 2009

BINGHAM McCUTCHEN LLP

By:

/s/ Dale E. Barnes DALE E. BARNES

Attorneys for Defendant KPMG LLP DATED: November 13, 2009 BARRACK, RODOS & BACINE

By:

/s/ Stephen R. Basser STEPHEN R. BASSER

Attorneys for Plaintiffs DATED: November 13, 2009 WOLF HALDENSTEIN ADLER FREEMAN & HERZ, LLP

By:

/s/ Francis M. Gregorek FRANCIS M. GREGOREK

Attorneys for Plaintiffs

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ORDER

PURSUANT TO THE STIPULATION, IT IS SO ORDERED.
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LEGAL_US_W # 63174958.1

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STIP & [PROPOSED] ORDER RESCHEDULING CMC

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yllis J. H

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THE HONORABLE PHYLLIS J. HAMILTON D UNITED STATES ORDERE O DISTRICT COURT JUDGE IT IS S
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DATED:

11/17/09

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