Primo v. Pacific Biosciences of California Inc et al

Filing 79

ORDER by Judge Claudia Wilken Granting #76 Stipulation RE SCHEDULING ORDER (ndr, COURT STAFF) (Filed on 6/20/2013)

1 NINA LOCKER, State Bar No. 123838
CATHERINE E. MORENO, State Bar No. 264517
2 BENJAMIN M. CROSSON, State Bar No. 247560
CRYSTAL M. GAUDETTE, State Bar No. 247712
3 WILSON SONSINI GOODRICH & ROSATI
Professional Corporation
4 650 Page Mill Road
Palo Alto, CA 94304-1050
5 Telephone: [phone]
Facsimile: [phone]
6 Email: [e-mail]
Email: [e-mail]
7 Email: [e-mail]
Email: [e-mail]
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Attorneys for Defendants
9 Pacific Biosciences of California, Inc., Hugh C.
Martin, Susan K. Barnes, Brian B. Dow, William
10 Ericson, Brook Byers, Michael Hunkapiller,
Randall Livingston, Susan Siegel, and David Singer
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IN THE UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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OAKLAND DIVISION

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16 THOMAS J. PRIMO and EVAN POWELL,
Individually and on Behalf of All Others Similarly
17 Situated,
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Plaintiffs,
vs.

20 PACIFIC BIOSCIENCES OF CALIFORNIA,
INC., HUGH C. MARTIN, SUSAN K. BARNES,
21 BRIAN B. DOW, WILLIAM ERICSON, BROOK
BYERS, MICHAEL HUNKAPILLER,
22 RANDALL LIVINGSTON, SUSAN SIEGEL,
DAVID SINGER, J.P. MORGAN SECURITIES
23 LLC, MORGAN STANLEY & CO. INC.,
DEUTSCHE BANK SECURITIES INC., and
24 PIPER JAFFRAY & CO.,
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Defendants.

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JOINT STIP& [PROPOSED] SCHEDULING ORDER
CASE NO. 4:11-CV-06599 (CW)

Case No. 4:11-CV-06599 (CW)
JOINT STIPULATION AND
[PROPOSED] SCHEDULING ORDER

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WHEREAS, on April 11, 2012, Plaintiffs Thomas Primo and Evan Powell filed an Amended

2 Class Action Complaint (“Amended Complaint”) in the instant action, alleging violations of the
3 Securities Act of 1933 and Securities Exchange Act of 1934 against Pacific Biosciences of California,
4 Inc. (“PacBio”), a number of PacBio’s senior executives and directors (Hugh C. Martin, Susan K.
5 Barnes, Brian B. Dow, William Ericson, Brook Byers, Michael Hunkapiller, Randall Livingston, Susan
6 Siegel, and David Singer (together with PacBio, the “PacBio Defendants”)), and the underwriters in
7 PacBio’s initial public offering (J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC (formerly
8 Morgan Stanley & Co. Inc.), Deutsche Bank Securities Inc., and Piper Jaffray & Co. (the “Underwriter
9 Defendants”)) (collectively, “Defendants”);
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WHEREAS, on April 15, 2013, this Court entered an order dismissing the Amended Complaint

11 without prejudice; and granting Plaintiffs leave to file a Second Amended Complaint by June 14, 2013
12 (the “Dismissal Order”) (Dkt. No. 72);
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WHEREAS, Defendants are herewith filing a Motion to Stay this action in light of a June 3,

14 2013 order by the Superior Court of California, San Mateo County (the “State Court”), preliminarily
15 approving a settlement that Defendants believe disposes of all the claims brought in the instant action
16 (the “Preliminarily Approved Settlement”);
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WHEREAS, Defendants’ motion to dismiss the Second Amended Complaint would otherwise

18 be due on July 14, 2013;
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WHEREAS, the Parties believe that it would be inefficient to require Defendants to respond to

20 Plaintiffs’ Second Amended Complaint until such time as this Court has ruled on the Motion to Stay.
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WHEREAS, Plaintiffs do not believe a stay of this action is appropriate, nor that the State Court

22 has authority to settle the claims asserted in this action, but nonetheless, in the interests of conservation
23 of the resources of the Court and as a courtesy to Defendants, agree to the terms of this proposed
24 stipulation, subject to its approval by the Court;
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NOW, THEREFORE, the parties stipulate and agree, by and through their respective counsel,

26 as follows:
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1.

Plaintiffs will file their Second Amended Complaint on June 14, 2013 (in accordance

28 with the terms of the Dismissal Order);
JOINT STIP & [PROPOSED] SCHEDULING ORDER
CASE NO. 4:11-CV-06599 (CW)

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2.

Plaintiffs’ opposition brief to the Motion to Stay shall be due on July 18, 2013;

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3.

Defendants’ reply brief(s) in support of the Motion to Stay shall be due on August 1,

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4.

The hearing on the Motion to Stay shall be scheduled for August 15, 2013; and

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5.

Defendants have no obligation to respond to Plaintiffs’ Second Amended Complaint until

3 2013;

6 thirty (30) days after any denial of the Motion to Stay.
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IT IS SO STIPULATED.

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10 DATED: June 13, 2013

GREEN & NOBLIN, P.C.

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/s/ Robert S. Green
ROBERT S. GREEN

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700 Larkspur Landing Circle, Suite 275
Larkspur, CA, 94939
Telephone: [phone]
Facsimile: [phone]

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Counsel for Plaintiffs

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17 DATED: June 13, 2013

WILSON SONSINI GOODRICH & ROSATI
PROFESSIONAL CORPORATION

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/s/ Catherine E. Moreno
CATHERINE E. MORENO

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650 Page Mill Road
Palo Alto, CA 94304-1050
Telephone: [phone]
650/493-6811 (fax)

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Counsel for the PacBio Defendants

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25 DATED: June 13, 2013
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SIMPSON THACHER & BARTLETT LLP
SIMONA G. STRAUSS
/s/ Simona G. Strauss
SIMONA G. STRAUSS

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JOINT STIP & [PROPOSED] SCHEDULING ORDER
CASE NO. 4:11-CV-06599 (CW)

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2550 Hanover Street
Palo Alto, California 94304
Telephone:
[phone]
Facsimile:
[phone]

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Counsel for the Underwriter Defendants
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JOINT STIP & [PROPOSED] SCHEDULING ORDER
CASE NO. 4:11-CV-06599 (CW)

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[PROPOSED] ORDER

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Pursuant to the Stipulation, IT IS SO ORDERED.

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4 Dated:

6/20/2013

Honorable Claudia Wilken
United States District Judge

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JOINT STIP & [PROPOSED] SCHEDULING ORDER
CASE NO. 4:11-CV-06599 (CW)

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ATTESTATION
I, Catherine E. Moreno, am the ECF User whose identification and password are being used to

3 file this JOINT STIPULATION AND [PROPOSED] SCHEDULING ORDER. In compliance with
4 General Order 45.X.B, I hereby attest that Timothy J. MacFall and Simona G. Strauss have concurred in
5 this filing.
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7 Dated: April 25, 2012

WILSON SONSINI GOODRICH & ROSATI
Professional Corporation

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By:
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JOINT STIP & [PROPOSED] SCHEDULING ORDER
CASE NO. 4:11-CV-06599 (CW)

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s/ Catherine E. Moreno
Catherine E. Moreno