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
1
2
3
4
5
6
7
8
9
10
JORDAN ETH (Bar No. 121617)
Email: JEth@mofo.com
ANNA ERICKSON WHITE (Bar No. 161385)
Email: AWhite@mofo.com
KEVIN A. CALIA (Bar No. 227406)
Email: KCalia@mofo.com
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
11
UNITED STATES DISTRICT COURT
12
NORTHERN DISTRICT OF CALIFORNIA
13
14
15
IN RE ZYNGA INC. DERIVATIVE
LITIGATION
16
17
18
19
20
21
22
This Document Relates To:
All Derivative Actions
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
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
23
24
25
26
27
28
STIPULATION AND [PROPOSED] ORDER CONTINUING STAY OF ACTION
Case No. 12-CV-4327-JSW
Case4:12-cv-04327-JSW Document53 Filed04/24/15 Page2 of 6
1
2
3
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
4
shareholder derivative lawsuits (the “Federal Derivative Action”) asserting claims against certain
5
officers and directors of nominal defendant Zynga Inc., and appointing lead counsel;
6
WHEREAS, a related consolidated securities class action captioned In re Zynga Inc.
7
Securities Litigation, Lead Case No. 12-cv-04007-JSW (the “Federal Securities Class Action”) is
8
currently pending in the United States District Court for the Northern District of California before
9
the Honorable Jeffrey S. White;
10
WHEREAS, by stipulated order dated March 20, 2014, the Federal Derivative Action was
11
stayed pending resolution of the motion to dismiss the amended complaint in the Federal
12
Securities Class Action;
13
14
15
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
16
Shareholder Derivative Litigation, Lead Case No. CGC-12-522934 (the “State Derivative
17
Action”) is pending in the Superior Court of California, County of San Francisco before Curtis
18
E.A. Karnow, and is stayed by stipulation;
19
WHEREAS, a related shareholder derivative action captioned Sandys v. Pincus et al.,
20
Case No. 9512-CB (the “Delaware Derivative Action”) is pending in the Delaware Chancery
21
Court before Chancellor Andre Bouchard;
22
WHEREAS, on December 9, 2014, Defendants moved to stay the Delaware Derivative
23
Action in deference to the Federal Securities Class Action, or, in the alternative, to dismiss the
24
action, and briefing on those motions is scheduled to conclude by May 15, 2015;
25
WHEREAS, counsel for the parties in the Federal Derivative Action have engaged in
26
discussions regarding appropriate next steps and means of efficiently managing the Federal
27
Derivative Action;
28
STIPULATION AND [PROPOSED] ORDER CONTINUING STAY OF ACTION
Case No. 12-CV-4327-JSW
1
Case4:12-cv-04327-JSW Document53 Filed04/24/15 Page3 of 6
1
WHEREAS, the parties have reached an agreement that, to conserve party and judicial
2
resources, all proceedings, discovery, and deadlines in the Federal Derivative Action shall
3
continue to be stayed until the Delaware Chancery Court rules on Defendants’ pending motion to
4
stay or dismiss the Delaware Derivative Action, or that motion is withdrawn.
5
THEREFORE, IT IS HEREBY STIPULATED AND AGREED AS FOLLOWS:
6
1.
All proceedings, discovery, and deadlines in this action shall be deferred until the
7
Delaware Chancery Court rules on Defendants’ motion to stay or dismiss the
8
Delaware Derivative Action, or that motion is withdrawn.
9
2.
The parties shall meet and confer within 14 days of the Delaware Chancery
10
Court’s ruling on or withdrawal of the motion to stay or dismiss the Delaware
11
Derivative Action to discuss proposed next steps for this action, and shall report to
12
the Court within 14 days after the meet and confer on the proposed next steps for
13
this action.
14
15
16
17
18
19
20
21
22
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
23
24
25
26
27
28
STIPULATION AND [PROPOSED] ORDER CONTINUING STAY OF ACTION
Case No. 12-CV-4327-JSW
2
Case4:12-cv-04327-JSW Document53 Filed04/24/15 Page5 of 6
1
2
3
4
[PROPOSED] ORDER
Having reviewed the parties’ Stipulation and for good cause shown, the Court hereby
orders that:
1.
All proceedings, discovery, and deadlines in this action shall be deferred until the
5
Delaware Chancery Court rules on Defendants’ motion to stay or dismiss the
6
Delaware Derivative Action, or that motion is withdrawn.
7
2.
The parties shall meet and confer within 14 days of the Delaware Chancery
8
Court’s ruling on or withdrawal of the motion to stay or dismiss the Delaware
9
Derivative Action to discuss proposed next steps for this action, and shall report to
10
the Court within 14 days after the meet and confer on the proposed next steps for
11
this action.
12
13
14
IT IS SO ORDERED.
15
16
Dated: April 27, 2015
By:
Honorable Jeffrey S. White
United States District Judge
17
18
19
20
21
22
23
24
25
26
27
28
STIPULATION AND [PROPOSED] ORDER CONTINUING STAY OF ACTION
Case No. 12-CV-4327-JSW
4
Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia.
Why Is My Information Online?