Lee v. Ambroseo et al

Filing 117

STIPULATION AND ORDER re 115 . Signed by Judge Jeremy Fogel on 12/4/08. (dlm, COURT STAFF) (Filed on 12/10/2008)

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MICHAEL D. TORPEY (STATE BAR NO. 79424) ORRICK, HERRINGTON & SUTCLIFFE LLP The Orrick Building 405 Howard Street San Francisco, California 94105-2669 Telephone: [phone] Facsimile: [phone] Email: [e-mail] MICHAEL C. TU (STATE BAR NO. 186793) ORRICK, HERRINGTON & SUTCLIFFE LLP 777 South Figueroa Street, Suite 3200 Los Angeles, California 90017-5855 Telephone: [phone] Facsimile: [phone] Email: [e-mail] Attorneys for the Special Litigation Committee of Coherent, Inc. and Nominal Defendant Coherent, Inc.

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN JOSE DIVISION In re COHERENT, INC. SHAREHOLDER DERIVATIVE ACTION This Document Related To: ALL ACTIONS. Lead Case No. C-07-0955-JF DERIVATIVE ACTION STIPULATION AND [PROPOSED] -----------------ORDER

STIPULATION AND [PROPOSED] ORDER C-07-0955-JF

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WHEREAS, on June 25, 2007, plaintiffs filed a consolidated amended complaint (the "Complaint") in this consolidated shareholder derivative action; and WHEREAS, pursuant to the Court's April 17, 2008 order approving the parties' stipulated pleading schedule, the individual defendants filed motions to dismiss the Complaint on May 2, 2008, and plaintiffs filed their oppositions to the motions to dismiss on June 2, 2008; and WHEREAS, pursuant to the Parties' stipulation, this Court entered an order on September 26, 2008 continuing the individual defendants' deadline to file their reply memoranda in support of their motions to dismiss to December 8, 2008 so that the parties could continue their renewed settlement discussions; and WHEREAS, the Special Litigation Committee of Coherent's Board of Directors (the "SLC") and plaintiffs have now attended three mediation sessions with Justice Howard B. Weiner (Ret.) and remain engaged in ongoing settlement discussions with the assistance of Justice Weiner; and WHEREAS, the Parties want to focus their efforts on settlement and avoid unnecessary litigation expenses and preserve judicial resources; and WHEREAS, in light of the foregoing, the Parties have agreed, subject to Court approval, that the date for defendants to file their reply briefs in support of their motions to dismiss should be continued until January 5, 2009, in order to allow the Parties to continue their good faith settlement discussions; and WHEREAS, the agreed upon schedule is not for the purpose of delay, promotes judicial efficiency, and will not cause prejudice to any party; THEREFORE, IT IS STIPULATED AND AGREED by plaintiffs, defendants and the SLC, through their undersigned counsel, subject to approval of the Court, as follows: 1. The individual defendants' reply briefs in support of their motions to dismiss shall

be due on January 5, 2009, unless the Parties advise the Court that a settlement has been reached. The Parties will not seek or engage in any discovery proceedings prior to that date. The Parties reserve their rights to seek an additional stay at any time, either jointly or separately.

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STIPULATION AND [PROPOSED] ORDER C-07-0955-JF

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2.

By executing this Stipulation, the Parties have not waived and expressly retain all

claims, defenses and arguments whether procedural, substantive or otherwise. IT IS SO STIPULATED. Dated: December 2, 2008 /s/ Nichole Browning BARROWAY TOPAZ KESSLER MELTZER & CHECK LLP ALAN R. PLUTZIK L. TIMOTHY FISHER NICHOLE BROWNING 2125 Oak Grove Road, Suite 120 Walnut Creek, CA 94598 Telephone: [phone] Fax: [phone] BARROWAY TOPAZ KESSLER MELTZER & CHECK LLP LEE D. RUDY 280 King of Prussia Road Radnor, PA 19087 Telephone: [phone] Fax: [phone] COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP TRAVIS E. DOWNS III KATHLEEN A. HERKENHOFF BENNY C. GOODMAN III MARY LYNNE CALKINS 655 West Broadway, Suite 1900 San Diego, CA 92101 Telephone: [phone] Fax: [phone] Co-Lead Counsel for Plaintiffs

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STIPULATION AND [PROPOSED] ORDER C-07-0955-JF

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Dated: December 2, 2008

/s/ Michael C. Tu ORRICK, HERRINGTON & SUTCLIFFE LLP MICHAEL D. TORPEY The Orrick Building 405 Howard Street San Francisco, CA 94105-2669 Telephone: [phone] Fax: [phone] ORRICK, HERRINGTON & SUTCLIFFE LLP MICHAEL C. TU 777 South Figueroa Street, Suite 3200 Los Angeles, CA 90017-5855 Telephone: [phone] Fax: [phone] Counsel for the Special Litigation Committee of Coherent, Inc. and Nominal Defendant Coherent, Inc.

Dated: December 2, 2008

/s/ Kristi Elder HOGAN & HARTSON LLP NORMAN J. BLEARS KRISTI ELDER 525 University Avenue, 2nd Floor Palo Alto, CA 94301 Telephone: [phone] Fax: [phone] Counsel for Defendant Scott H. Miller

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STIPULATION AND [PROPOSED] ORDER C-07-0955-JF

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Dated: December 2, 2008

/s/ Michael R. Smith KING & SPALDING MICHAEL R. SMITH JUSTIN C. JEFFRIES 1180 Peachtree Street, NE Atlanta, GA 30309 Telephone: [phone] Fax: [phone] - and ­ TAYLOR & COMPANY LAW OFFICES, INC. STEPHEN E. TAYLOR JESSICA L. GRANT One Ferry Building, Suite 355 San Francisco, CA 94111 Telephone: [phone] Fax: [phone] Counsel for Defendant Robert J. Quillinan

Dated: December 2, 2008

/s/ C. Brandon Wisoff FARELLA BRAUN & MARTEL, LLP DOUGLAS R. YOUNG C. BRANDON WISOFF 235 Montgomery Street, 7th Floor San Francisco, CA 94104 Telephone: [phone] Fax: [phone] Counsel for Defendant Bernard Couillaud

Dated: December 2, 2008

/s/ Jeffrey M. Kaban COOLEY GODWARD KRONISH, LLP WILLIAM S. FREEMAN JEFFREY M. KABAN Five Palo Alto Square 3000 El Camino Real Palo Alto, CA 94306 Telephone: [phone] Fax: [phone] Counsel for Defendant Henry E. Gauthier

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STIPULATION AND [PROPOSED] ORDER C-07-0955-JF

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Dated: December 2, 2008

/s/ Caz Hashemi WILSON SONSINI GOODRICH & ROSATI NINA F. LOCKER CAZ HASHEMI DIANE M. WALTERS 650 Page Mill Road Palo Alto, CA 94304 Telephone: [phone] Fax: [phone] Counsel for Individual Defendants Charles W. Cantoni, Dennis C. Bucek, Garry W. Rogerson, Helene Simonet, John R. Ambroseo, John H. Hart, Lawrence Tomlinson, Luis Spinelli, Paul L. Meissner, Ronald A. Victor, Sandeep Vij, Vittorio Fossati-Bellani, Kevin McCarthy, James L. Taylor, Gerald C. Barker, Kevin P. Connors, Robert M. Gelber and James L. Hobart

I, Michael C. Tu, am the ECF user whose ID and password are being used to file this Stipulation and [Proposed] Order Extending Time to Respond to Complaint. In compliance with General Order 45(X), I hereby attest that the other signatories have concurred in this filing. /s/ Michael C. Tu Michael C. Tu ORDER Pursuant to the parties' stipulation, IT IS SO ORDERED.

12/4/08 Dated: ___________________ HON. JEREMY FOGEL UNITED STATES DISTRICT COURT JUDGE

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STIPULATION AND [PROPOSED] ORDER C-07-0955-JF