IRA for the Benefit lof Karl Graulich v. Pincus et al

Filing 54

ORDER GRANTING 53 Stipulation Staying Action. Signed by Judge JEFFREY S. WHITE on 4/27/15. (jjoS, COURT STAFF) (Filed on 4/27/2015)

Case4:12-cv-04327-JSW Document53 Filed04/24/15 Page1 of 6

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JORDAN ETH (Bar No. 121617)
Email: [e-mail]
ANNA ERICKSON WHITE (Bar No. 161385)
Email: [e-mail]
KEVIN A. CALIA (Bar No. 227406)
Email: [e-mail]
MORRISON & FOERSTER LLP
425 Market Street
San Francisco, California 94105-2482
Telephone:
415.268.7000
Facsimile:
415.268.7522
Attorneys for Nominal Defendant ZYNGA INC. and
Defendants MARK PINCUS, DAVID M. WEHNER, JOHN
SCHAPPERT, MARK VRANESH, REGINALD D. DAVIS,
CADIR B. LEE, JEFF KARP, WILLIAM GORDON, REID
HOFFMAN, JEFFREY KATZENBERG, STANLEY J.
MERESMAN, SUNIL PAUL, ELLEN F. SIMINOFF, and
OWEN VAN NATTA

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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IN RE ZYNGA INC. DERIVATIVE
LITIGATION

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This Document Relates To:
All Derivative Actions

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Lead Case No. 12-CV-4327-JSW
Consolidated with Case Nos.
12-CV-4330-JSW
12-CV-4547-JSW
12-CV-4684-JSW
STIPULATION AND [PROPOSED]
ORDER STAYING ACTION
Judge: Hon. Jeffrey S. White
Complaint Filed: August 16, 2012
Trial Date: None Set

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STIPULATION AND [PROPOSED] ORDER CONTINUING STAY OF ACTION
Case No. 12-CV-4327-JSW

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The parties, through their undersigned counsel, hereby submit this Stipulation and
[Proposed] Order continuing the stay in this action, as follows:
WHEREAS, on December 3, 2012, the Court entered an order consolidating four related

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shareholder derivative lawsuits (the “Federal Derivative Action”) asserting claims against certain

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officers and directors of nominal defendant Zynga Inc., and appointing lead counsel;

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WHEREAS, a related consolidated securities class action captioned In re Zynga Inc.

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Securities Litigation, Lead Case No. 12-cv-04007-JSW (the “Federal Securities Class Action”) is

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currently pending in the United States District Court for the Northern District of California before

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the Honorable Jeffrey S. White;

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WHEREAS, by stipulated order dated March 20, 2014, the Federal Derivative Action was

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stayed pending resolution of the motion to dismiss the amended complaint in the Federal

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Securities Class Action;

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WHEREAS, on April 8, 2015, Judge White denied Defendants’ motion to dismiss the
amended complaint in the Federal Securities Class Action;
WHEREAS, a related consolidated shareholder derivative action captioned In re Zynga

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Shareholder Derivative Litigation, Lead Case No. CGC-12-522934 (the “State Derivative

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Action”) is pending in the Superior Court of California, County of San Francisco before Curtis

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E.A. Karnow, and is stayed by stipulation;

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WHEREAS, a related shareholder derivative action captioned Sandys v. Pincus et al.,

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Case No. 9512-CB (the “Delaware Derivative Action”) is pending in the Delaware Chancery

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Court before Chancellor Andre Bouchard;

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WHEREAS, on December 9, 2014, Defendants moved to stay the Delaware Derivative

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Action in deference to the Federal Securities Class Action, or, in the alternative, to dismiss the

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action, and briefing on those motions is scheduled to conclude by May 15, 2015;

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WHEREAS, counsel for the parties in the Federal Derivative Action have engaged in

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discussions regarding appropriate next steps and means of efficiently managing the Federal

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Derivative Action;

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STIPULATION AND [PROPOSED] ORDER CONTINUING STAY OF ACTION
Case No. 12-CV-4327-JSW

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WHEREAS, the parties have reached an agreement that, to conserve party and judicial

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resources, all proceedings, discovery, and deadlines in the Federal Derivative Action shall

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continue to be stayed until the Delaware Chancery Court rules on Defendants’ pending motion to

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stay or dismiss the Delaware Derivative Action, or that motion is withdrawn.

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THEREFORE, IT IS HEREBY STIPULATED AND AGREED AS FOLLOWS:

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1.

All proceedings, discovery, and deadlines in this action shall be deferred until the

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Delaware Chancery Court rules on Defendants’ motion to stay or dismiss the

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Delaware Derivative Action, or that motion is withdrawn.

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2.

The parties shall meet and confer within 14 days of the Delaware Chancery

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Court’s ruling on or withdrawal of the motion to stay or dismiss the Delaware

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Derivative Action to discuss proposed next steps for this action, and shall report to

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the Court within 14 days after the meet and confer on the proposed next steps for

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this action.

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Dated: April 24, 2015

JORDAN ETH
ANNA ERICKSON WHITE
KEVIN A. CALIA
MORRISON & FOERSTER LLP
By:

/s/ Anna Erickson White
ANNA ERICKSON WHITE
Attorneys for Nominal Defendant ZYNGA
INC. and Defendants MARK PINCUS,
DAVID M. WEHNER, JOHN SCHAPPERT,
MARK VRANESH, REGINALD D. DAVIS,
CADIR B. LEE, JEFF KARP, WILLIAM
GORDON, REID HOFFMAN, JEFFREY
KATZENBERG, STANLEY J.
MERESMAN, SUNIL PAUL, ELLEN F.
SIMINOFF, and OWEN VAN NATTA

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STIPULATION AND [PROPOSED] ORDER CONTINUING STAY OF ACTION
Case No. 12-CV-4327-JSW

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[PROPOSED] ORDER
Having reviewed the parties’ Stipulation and for good cause shown, the Court hereby
orders that:
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All proceedings, discovery, and deadlines in this action shall be deferred until the

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Delaware Chancery Court rules on Defendants’ motion to stay or dismiss the

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Delaware Derivative Action, or that motion is withdrawn.

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2.

The parties shall meet and confer within 14 days of the Delaware Chancery

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Court’s ruling on or withdrawal of the motion to stay or dismiss the Delaware

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Derivative Action to discuss proposed next steps for this action, and shall report to

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the Court within 14 days after the meet and confer on the proposed next steps for

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this action.

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IT IS SO ORDERED.

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Dated: April 27, 2015

By:
Honorable Jeffrey S. White
United States District Judge

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STIPULATION AND [PROPOSED] ORDER CONTINUING STAY OF ACTION
Case No. 12-CV-4327-JSW

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