In re Silicon Storage Technology, Inc. Derivative Litigation

Filing 77

STIPULATION AND ORDER re 75 to Extend Time to File Responsive Pleadings. Signed by Judge Jeremy Fogel on 10/2/08. (dlm, COURT STAFF) (Filed on 10/6/2008)

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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 COOLEY GODWARD LLP A T T O R N E Y S AT L A W P A L O ALTO COOLEY GODWARD KRONISH LLP JOHN C. DWYER (136533) (dwyerjc@cooley.com) GRANT P. FONDO (181530) (gfondo@cooley.com) AARON F. OLSEN (224947) (aolsen@cooley.com) Five Palo Alto Square 3000 El Camino Real Palo Alto, CA 94306-2155 Telephone: (650) 843-5000 Facsimile: (650) 857-0663 Attorneys for Nominal Defendant SILICON STORAGE TECHNOLOGY, INC. UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA In re SILICON STORAGE TECHNOLOGY, INC., DERIVATIVE LITIGATION Master File No. C06-04310 JF --------------STIPULATION AND [PROPOSED] ORDER TO EXTEND TIME TO FILE RESPONSIVE PLEADINGS Trial Date: None This Document Relates To: ALL ACTIONS. WHEREAS, On May 9, 2008, Lead Plaintiffs filed their Second Amended Complaint; WHEREAS, Lead Plaintiffs, nominal defendant Silicon Storage Technology, Inc. ("SST") the individual defendants, and the parties in the related state action, Alex Chuzhoy v. Bing Yeh, et al., Santa Clara Case No. 106CV074026, (the "Parties") all met in Palo Alto, California on May 20, 2008 to participate in an all day settlement meeting in order for the Company to share information with plaintiffs relating to the audit committee chair's investigation and findings and the filing of the Company's restatement and to discuss the settlement of the derivative litigation; WHEREAS, the Parties and representatives of SST's insurance carriers participated in an all day mediation with the Hon. William Cahill on July 31, 2008; WHEREAS, the Parties and representatives of SST's insurance carriers are currently engaging in further settlement discussions with the assistance of the Hon. Willia m Cahill; WHEREAS, pursuant to the Order dated August 22, 2008, Defendants response to the Second Amended Complaint is due on October 3, 2008; 1. STIPULATION AND [PROPOSED] ORDER TO EXTEND TIME TO FILE RESPONSIVE PLEADINGS CASE NO. C-06-43101 JF 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 COOLEY GODWARD LLP A T T O R N E Y S AT L A W P A L O ALTO WHEREAS, due to the prior and current settlement discussions, and the parties' focus thereon, Defendants have requested and Lead Plaintiffs consent to an extension of two weeks for which defendants to file a response to the Second Amended Complaint; WHEREAS , subject to the Court's approval, the parties stipulate as follows: 1. Defendants shall file and serve answers or otherwise respond to the Amended Complaint by October 17, 2008. In the event that Defendants file and serve any motion to dismiss or other motion directed at the Amended Complaint, Lead Plaintiffs shall file and serve an opposition by December 5, 2008. If Defendants file and serve a reply to Lead Plaintiffs' opposition, they will do so by January 7, 2008. The hearing on Defendants' motion to dismiss or other responsive pleading shall be January 16, 2009 or other date as ordered by the Court. 2. By execut ing this Stipulation, the parties have not waived and expressly retain all claims, defenses and arguments whether procedural, substantive or otherwise. This stipulation is without prejudice to any subsequent motion to stay this action, or any object ions or defenses thereto, and this Order is entered without prejudice to the rights of any party to apply for a modification of this Order. Dated: September 30, 2008 COOLEY GODWARD KRONISH LLP By /s/ Grant P. Fondo Attorneys for Nominal Defendant SILICON STORAGE TECHNOLOGY, INC Dated: September 30, 2008 SCHIFFRIN BARROWAY TOPAZ & KESSLER, LLP By /s/ Nicho le Browning Co-Lead Counsel for Lead Plaintiffs 2. STIPULATION AND [PROPOSED] ORDER TO EXTEND TIME TO FILE RESPONSIVE PLEADINGS CASE NO. C-06-43101 JF 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 COOLEY GODWARD LLP A T T O R N E Y S AT L A W P A L O ALTO Dated: September 30, 2008 WOLF HALDENSTEIN ADLER FREEMAN & HERZ LLP By /s/ Betsy C. Manifold Co-Lead Counsel for Lead Plaintiffs Dated: September 30, 2008 MCDERMOTT, WILL & EMERY LLP By /s/ Matthew J. Jacobs Attorneys for Director Defendants TSUYOSHI TAIRA, YASUSHI CHIKAGAMI, RONALD CHWANG, TERRY NICKERSON, BING YEH AND YAW WEN HU Dated: September 30, 2008 HELLER EHRMAN LLP By /s/ Howard S. Caro Attorneys for Officer Defendants DEREK BEST, MICHAEL BRINER, JEFFREY GARON, PAUL LUI, ISAO NOJIMA, and CHEN TSAI 3. STIPULATION AND [PROPOSED] ORDER TO EXTEND TIME TO FILE RESPONSIVE PLEADINGS CASE NO. C-06-43101 JF 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 COOLEY GODWARD LLP A T T O R N E Y S AT L A W P A L O ALTO FILER'S ATTESTATION I, Grant P. Fondo, am the ECF User whose ID and password are being used to file this Stipulation and [Proposed] Order to Extend Time to File Responsive Pleading. In compliance with General Order 45.X.B., I hereby attest that all parties have concurred in this filing. DATED: September 30, 2008 COOLEY GODWARD KRONISH LLP By: /s/ Grant P. Fondo ORDER PURSUANT TO STIPULATION AND FOR GOOD CAUSE SHOWN HEREIN, IT IS SO ORDERED. 10/2/08 Judge of the U.S. District Court DATED: 600139 v3/SD 4. STIPULATION AND [PROPOSED] ORDER TO EXTEND TIME TO FILE RESPONSIVE PLEADINGS CASE NO. C-06-43101 JF

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