In re Trident Microsystems, Inc. Derivative Litigation

Filing 139

STIPULATION, APPLICATION AND ORDER TO VACATE HEARING ON MOTION FOR PRELIMINARY APPROVAL AND TO RENEW MOTION TO (A) TERMINATE AND DISMISS AS TO ALL DEFENDANTS OTHER THAN FRANK C. LIN, AND (B) PRELIMINARILY APPROVE SETTLEMENTS (approving 138 ). The Motion Hearing set for 8/21/2009 is VACATED. A new Motion Hearing is set for 10/9/2009 at 9:00 AM in Courtroom 3, 5th Floor, San Jose. Signed by Judge Jeremy Fogel on 8/19/2009. (jflc2, COURT STAFF) (Filed on 8/19/2009)

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DLA P I P E R LLP ( U S )
SAN FRANCISCO

SHIRLI FABBRI WEISS (Bar No. 079225) [e-mail] DAVID F. GROSS (Bar No. 083547) [e-mail] m DAVID PRIEBE (Bar No. 148679) [e-mail] DLA PIPER LLP (US) 2000 University Avenue East Palo Alto, CA 94303 Telephone: [phone] Facsimile: [phone] Attorneys for Nominal Defendant TRIDENT MICROSYSTEMS, INC. JOHN D. PERNICK (Bar No. 155468) jo [e-mail] m BINGHAM MCCUTCHEN LLP Three Embarcadero Center San Francisco, CA 94111-4067 Telephone: [phone] Facsimile: [phone] Attorneys for THE SPECIAL LITIGATION COMMITTEE OF THE BOARD OF DIRECTORS OF TRIDENT MICROSYSTEMS, INC.

**E-Filed 8/19/2009**

NORTHERN DISTRICT OF CALIFORNIA SAN JOSE DIVISION IN RE TRIDENT MICROSYSTEMS, INC. DERIVATIVE LITIGATION ___________________________________ This Document Relates to: ALL ACTIONS. LEAD CASE NO. C06-3440-JF STIPULATION, APPLICATION AND ----------------- ORDER TO VACATE [PROPOSED] HEARING ON MOTION FOR PRELIMINARY APPROVAL AND TO RENEW MOTION TO (A) TERMINATE AND DISMISS AS TO ALL DEFENDANTS OTHER THAN FRANK C. LIN, AND (B) PRELIMINARILY APPROVE SETTLEMENTS

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STIPULATION TO VACATE HEARING ON MOTION FOR PRELIMINARY APPROVAL, ETC. (CASE NO. C06-3440-JF)

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DLA P I P E R LLP ( U S )
SAN FRANCISCO

STIPULATION WHEREAS, lead plaintiffs Viken Kalindjian and Gerald W. Keeney, on behalf of themselves and all others similarly situated ("Lead Plaintiffs"), filed their First Amended Consolidated Verified Shareholder Derivative Complaint ("Amended Complaint") on March 7, 2007; WHEREAS, a Special Litigation Committee of the Board of Directors (the "SLC") of nominal defendant Trident Microsystems, Inc. ("Trident," together with the SLC and the Lead Plaintiffs, the "Parties") has reached preliminary settlements with all individual defendants other than Frank C. Lin ("Mr. Lin"), and has determined that it is in Trident's best interest to settle this action with respect to those defendants; WHEREAS, Trident filed a Motion to (a) Terminate and Dismiss as to All Defendants Other Than Frank C. Lin and (b) Approve Settlements (the "Motion to Terminate and Approve Settlements") on February 9, 2009, and noticed it for hearing on May 1, 2009; WHEREAS, by stipulation and Order of the Court dated March 6, 2009, the May 1, 2009 hearing on the Motion to Terminate and Approve Settlements was vacated; WHEREAS, all the Parties except Mr. Lin attended a full-day mediation on April 9, 2009, at which substantial progress was made toward a full settlement of the matter; WHEREAS, the Parties attended a Further Case Management Conference on May 1, 2009, at which the Parties expressed hope of achieving a full settlement of this matter, and asked for a continuance of the Motion to Terminate and Approve Settlements to achieve that goal. At that Conference, the Court ordered that: (1) the Motion to Terminate and Approve Settlements be deemed withdrawn, (2) the parties prepare a Motion for Preliminary Approval of Settlement and (3) hearing of that motion be set for August 21, 2009; WHEREAS, the Parties require time to brief the issues raised by a renewed Motion to Terminate and Approve Settlements (other than as to Mr. Lin); WHEREAS, the Parties have continued to participate in settlement discussions in the hope of arranging a mediation in which Mr. Lin and Trident's insurers would agree to participate and ultimately to reach a full resolution of this matter, but have not yet succeeded; -2WEST \21778720.1

STIPULATION TO VACATE HEARING ON MOTION FOR PRELIMINARY APPROVAL, ETC. (CASE NO. C06-3440-JF)

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DLA P I P E R LLP ( U S )
SAN FRANCISCO

WHEREAS, no full settlement has been reached and the Parties have been unable to meet the August 21, 2009 date; and WHEREAS, Lead Plaintiffs' counsel are completing their review of the materials provided to them by the SLC; WHEREAS, Lead Plaintiffs, the SLC and Trident have agreed that, upon conclusion of that review, a renewed Motion to Terminate and Approve Settlements as to all defendants other than Mr. Lin is appropriate for presentation to the Court; THEREFORE, IT IS STIPULATED AND AGREED AS FOLLOWS: 1. The August 21, 2009, hearing date for a Motion for Preliminary Approval of

Settlement will be vacated. 2. The renewed Motion to Terminate and Approve Settlements will be set for

October 9, 2009 at 9:00 a.m., or at such later date and time as the Court may order. Dated: August 18, 2009 DLA PIPER LLP (US) By: /s/ DAVID F. GROSS Attorneys for Nominal Defendant TRIDENT MICROSYSTEMS, INC.

Dated: August 18, 2009

BINGHAM MCCUTCHEN LLP By: /s/ JOHN D. PERNICK Attorneys for THE SPECIAL LITIGATION COMMITTEE OF THE BOARD OF DIRECTORS OF TRIDENT MICROSYSTEMS, INC.

Dated: August 18, 2009

COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP By: /s/ ROBIN WINCHESTER Attorneys for LEAD PLAINTIFFS

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STIPULATION TO VACATE HEARING ON MOTION FOR PRELIMINARY APPROVAL, ETC. (CASE NO. C06-3440-JF)

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DLA P I P E R LLP ( U S )
SAN FRANCISCO

I, DAVID F. GROSS, am the ECF User whose ID and password are being used to file this Stipulation, Application and [Proposed] Order to Vacate Hearing on Motion for Preliminary Approval and to Renew Motion to (a) Terminate and Dismiss as to All Defendants Other Than Frank C. Lin, and (b) Preliminarily Approve Settlements. In compliance with General Order 45, X.B., I hereby attest that ROBIN WINCHESTER and JOHN D. PERNICK have concurred in this filing. DATED: August 18, 2009 By: /s/ DAVID F. GROSS

ORDER IT IS SO ORDERED. 8/19/2009 DATED: _______________________ ____________________________________ THE HONORABLE JEREMY FOGEL UNITED STATES DISTRICT JUDGE

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STIPULATION TO VACATE HEARING ON MOTION FOR PRELIMINARY APPROVAL, ETC. (CASE NO. C06-3440-JF)