In re: UTSTARCOM, INC. SECURITIES LITIGATION

Filing 340

STIPULATION AND ORDER Staying Class Certification Briefing; Setting Further Case Management Conference re 339 Stipulation. Status Report due by 2/12/2010. Further Case Management Conference set for 2/22/2010 10:00 AM in Courtroom 8, 4th Floor, San Jose. Signed by Judge James Ware on 12/18/2009. (ecg, COURT STAFF) (Filed on 12/18/2009)

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 UNITED STATES DISTRICT COURT ER N C F D IS T IC T O R 12/18/2009 NORTHERN DISTRICT OF CALIFORNIA SAN JOSE DIVISION IN RE UTSTARCOM, INC. SECURITIES LITIGATION This Document Relates to: ALL ACTIONS. ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) Master File No. C-04-4908-JW(PVT) STIPULATION AND [PROPOSED] ORDER STAYING CLASS CERTIFICATION BRIEFING STIPULATION AND [PROPOSED] ORDER STAYING CLASS CERTIFICATION BRIEFING CASE NO. C-04-4908-JW(PVT) A LI FO TERRY T. JOHNSON, State Bar No. 121569 (tjohnson@wsgr.com) BORIS FELDMAN, State Bar No. 128838 (boris.feldman@wsgr.com) BAHRAM SEYEDIN-NOOR, State Bar No. 203244 (bnoor@wsgr.com) NICOLE HEALY, State Bar No. 157417 (nhealy@wsgr.com) CHERYL W. FOUNG, State Bar No. 108868 (cfoung@wsgr.com) BRYAN J. KETROSER, State Bar No 239105 (bketroser@wsgr.com) WILSON SONSINI GOODRICH & ROSATI S DISTRICT TE C 650 Page Mill Road TA Palo Alto, CA 94304-1050 Telephone: (650) 493-9300 ED Facsimile: (650) 565-5100 ORDER T IS SO DIFIED I AS MO Attorneys for Defendants UTSTARCOM, INC., HONG LIANG LU, MICHAEL J. SOPHIE, YING WU and THOMAS J. TOY es Ware dge Jam UNIT ED RT U O S Ju R NIA NO RT H 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 WHEREAS, on October 23, 2009, plaintiffs filed their Motion for Class Certification; WHEREAS, defendants have taken the depositions of the three parties whom plaintiffs have proffered to serve as class representatives, and have served a deposition subpoena on Gennadiy Sherman, previously a named plaintiff in plaintiffs' Fourth Amended Complaint, but plaintiffs dispute whether the deposition of Mr. Sherman should go forward; WHEREAS, on November 17, 2009, this Court entered an Order that requires defendants to file their oppositions to plaintiffs' Motion for Class Certification on December 18, 2009; requires plaintiffs to file their reply in support of their Motion for Class Certification on January 22, 2010; and sets the class certification hearing for February 22, 2010 at 9:00 a.m.; WHEREAS, the parties have resumed their settlement negotiations in a good faith effort to resolve the action, are actively working with their mediator, the Honorable Edward A. Infante, to assist in those efforts, and anticipate the settlement negotiations to continue through the end of this year and at least into January 2010; and WHEREAS, the parties have met and conferred and agreed, subject to the Court's approval, that it would be in the best interests of the parties to continue to discuss possible resolution prior to devoting substantial resources to continue class certification briefing, including expert submissions related to the motion; NOW THEREFORE, pursuant to the parties' stipulation and subject to the Court's approval, the parties' briefing on plaintiffs' Motion for Class Certification is STAYED pending the outcome of the aforementioned settlement negotiations. The parties will submit an update to the Court no later than February 16, 2010 on the status of the settlement negotiations, or propose a schedule for the remaining briefing on plaintiffs' class certification motion. IT IS SO STIPULATED. STIPULATION AND [PROPOSED] ORDER STAYING CLASS CERTIFICATION BRIEFING CASE NO. C-04-4908-JW(PVT) -1- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Dated: December 15, 2009 WILSON SONSINI GOODRICH & ROSATI Professional Corporation TERRY T. JOHNSON BORIS FELDMAN BAHRAM SEYEDIN-NOOR NICOLE HEALY CHERYL W. FOUNG BRYAN J. KETROSER By: /s/ Bryan J. Ketroser BRYAN J. KETROSER 650 Page Mill Road Palo Alto, CA 94304 Telephone: 650-493-9300 Fax: 650-493-6811 Attorneys for Defendants UTStarcom, Inc., Hong Liang Lu, Michael J. Sophie, Ying Wu, and Thomas J. Toy. Dated: December 15, 2009 SULLIVAN & CROMWELL LLP JASON DE BRETTEVILLE R. JEREMY ADAMSON By: /s/ R. Jeremey Adamson R. JEREMY ADAMSON 1870 Embarcadero Road Palo Alto, CA 94303 Telephone: 650-461-5600 Fax: 650-461-5700 SULLIVAN & CROMWELL LLP ROBERT A. SACKS 1888 Century Park East, Suite 2100 Los Angeles, CA 90067 Telephone: 310-712-6600 Fax: 310-712-8800 Attorneys for Defendants SoftBank Holdings, Inc., SoftBank Corporation, and SoftBank America, Inc. Attorneys for Defendants SOFTBANK HOLDINGS, INC. SOFTBANK AMERICA, INC. AND SOFTBANK CORPORATION STIPULATION AND [PROPOSED] ORDER STAYING CLASS CERTIFICATION BRIEFING CASE NO. C-04-4908-JW(PVT) -2- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Dated: December 15, 2009 COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP SHAWN A. WILLIAMS SHIRLEY H. HUANG DANIEL J. PFEFFERBAUM PHILLIP G. FREEMON By: /s/ Shirley H. Huang SHIRLEY H. HUANG 100 Pine Street, Suite 2600 San Francisco, CA 94111 Telephone: 415-288-4545 Fax: 415-288-4534 Lead Counsel for Plaintiffs ORDER PURSUANT TO THIS STIPULATION, AND GOOD CAUSE APPEARING, IT IS SO ORDERED that the briefing on plaintiffs' Motion for Class Certification is STAYED pending the parties' settlement negotiations. The parties will submit an update to the Court no later than 17 February 16, 2010 on the status of the settlement negotiations, or propose a schedule for the February 12, 2010 18 remaining briefing on plaintiffs' class certification motion. 19 The Court sets a further case management conference on February 2010 at 10:00 AM. 20 21 22 23 24 25 26 27 28 STIPULATION AND [PROPOSED] ORDER STAYING CLASS CERTIFICATION BRIEFING CASE NO. C-04-4908-JW(PVT) Dated: December 18, 2009 The Honorable James Ware United States District Court Judge -3- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 I, Bryan J. Ketroser, am the ECF User whose identification and password are being used to file the Stipulation and [Proposed] Order Staying Class Certification Briefing. I hereby attest that R. Jeremy Adamson and Shirley H. Huang have concurred in this filing. Dated: December 15, 2009 WILSON SONSINI GOODRICH & ROSATI Professional Corporation By: /s/Bryan J. Ketroser BRYAN J. KETROSER Attorneys for Defendants UTSTARCOM, INC., HONG LIANG LU, MICHAEL J. SOPHIE, YING WU, THOMAS J. TOY STIPULATION AND [PROPOSED] ORDER STAYING CLASS CERTIFICATION BRIEFING CASE NO. C-04-4908-JW(PVT) -4-

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