Rafton v. Rydex Series Funds et al

Filing 90

ORDER re 89 Adopting Joint Stipulation to Extend Certain Case Deadlines. Signed by Judge Koh on 5/27/2011. (lhklc3, COURT STAFF) (Filed on 5/27/2011)

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ALAN W. SPARER (No. 104921)
MARC HABER (No. 192981)
KEVIN H. LEWIS (No. 197421)
JAMES S. NABWANGU (No. 236601)
SPARER LAW GROUP
100 Pine Street, 33rd Floor
San Francisco, California 94111-5128
Telephone:
415/217-7300
Facsimile:
415/217-7307
[e-mail]
[e-mail]
[e-mail]
[e-mail]
Attorneys for Plaintiffs
JAMES RAFTON, TRUSTEE
OF THE JAMES AND CYNTHIA
RAFTON TRUST and JAMES DARST, JR.,
TRUSTEE OF THE JAMES & HILLARY
DARST TRUST

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Counsel for Defendants
JOHN O. DEMARET; COREY A.
COLEHOUR; J. KENNETH DALTON;
WERNER E. KELLER; THOMAS F.
LYDON; PATRICK T. MCCARVILLE; AND
ROGER SOMERS

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UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
SAN JOSE DIVISION

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Counsel for Defendants
RYDEX SERIES FUNDS; PADCO
ADVISORS INC. d/b/a RYDEX
INVESTMENTS, INC.; RYDEX
DISTRIBUTORS, INC.; NICK BONOS;
MICHAEL P. BYRUM; RICHARD M.
GOLDMAN; and CARL VERBONCOEUR
MICHAEL K. WOLENSKY (pro hac vice)
CRAIG BRIDWELL (No. 246124)
SCHIFF HARDIN LLP
One Market, Spear Street Tower
Thirty-Second Floor
San Francisco, CA 94105
Telephone: [phone]
Facsimile: 415/901-8701
[e-mail]
[e-mail]

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MATTHEW L. LARRABEE (No. 97147)
DAVID A. KOTLER (pro hac vice)
MURIEL M. KOROL (No. 261909)
DECHERT LLP
One Maritime Plaza, Suite 2300
San Francisco, California 94111-3513
Telephone: [phone]
Facsimile: 415/262-4555
[e-mail]
[e-mail]
[e-mail]

JAMES RAFTON, TRUSTEE OF THE
JAMES & CYNTHIA RAFTON TRUST, et al.,

LHK
No. CV 10-01171 CRB
Action Filed: March 19, 2010

Plaintiffs,
v.
RYDEX SERIES FUNDS, et al.,
Defendants.

STIPULATION AND [PROPOSED] ORDER
FOR RESCHEDULING OF CASE
MANAGEMENT ORDER
Dept: Courtroom 4, 5th Floor
Judge:
Hon. Lucy H. Koh

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STIPULATION AND [PROPOSED] ORDER RE CASE
MANAGEMENT ORDER

No. CV 10-01171 CRB

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Plaintiffs James Rafton and James Darst, Jr. (collectively, “Plaintiffs”) and Defendants

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Rydex Series Funds, PADCO Advisors Inc. d/b/a Rydex Investments, Inc., Rydex Distributors,

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Inc., Michael P. Byrum, Richard M. Goldman, Carl G. Verboncoeur, John O. Demaret, Nick

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Bonos, Corey A. Colehour, J. Kenneth Dalton, Werner E. Keller, Thomas F. Lydon, Patrick T.

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McCarville, and Roger Somers (collectively, “Defendants”) hereby stipulate as follows:

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WHEREAS, the parties have engaged in substantial discovery (including the exchange of

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over 22,000 pages of documents), Defendants have deposed the proposed class representatives,

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and experts for both parties have performed an extensive analysis of liability and damage issues;

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WHEREAS, on May 26, 2011 counsel participated in an extended settlement meeting,

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wherein experts from both sides were present and liability and damage issues were addressed in

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detail;

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WHEREAS, the parties continue to engage in serious settlement negotiations with a

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deadline of June 8, 2011 to complete discussions and report back to the Court at the Case

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Management Conference scheduled for the same date;

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WHEREAS, the parties seek to postpone certain case deadlines in order to focus on
settlement issues; and
WHEREAS, the postponed deadlines will not affect the existing briefing schedule or
hearing date for the class certification motion;
NOW, THEREFORE, the undersigned parties, by and through their counsel of record,

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request the following modification to the Case Management Scheduling Order and case schedule

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issued by the Court on March 23, 2011:

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1.

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Disclosure of Rebuttal Experts and Exchange of Reports is moved from June 7,
2011 to June 21, 2011; and

2.

End of Class Certification Expert Discovery is moved from June 21, 2011 to July
15, 2011.

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-1STIPULATION AND [PROPOSED] ORDER RE CASE
MANAGEMENT ORDER

No. CV 10-01171 CRB

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The remaining case schedule shall remain the same.

Dated: May 27, 2011

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Respectfully submitted,
ALAN W. SPARER
MARC HABER
KEVIN H. LEWIS
JAMES S. NABWANGU
SPARER LAW GROUP

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By:

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/s/ Alan W. Sparer
ALAN W. SPARER

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Counsel for JAMES RAFTON, TRUSTEE OF
THE JAMES AND CYNTHIS RAFTON
TRUST and JAMES DARST, JR., AS
TRUSTEE OF THE JAMES & HILLARY
DARST TRUST

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Concurrence in the filing of this document has been obtained from each of the other

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signatories.

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Dated: May 27, 2011

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Respectfully submitted,
DECHERT LLP
MATTHEW L. LARRABEE
DAVID A. KOTLER
MURIEL M. KOROL
By:

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/s/ Matthew L. Larrabee
MATTHEW L. LARRABEE

Counsel for Defendants
RYDEX SERIES FUNDS; PADCO
ADVISORS INC. d/b/a RYDEX
INVESTMENTS, INC.; RYDEX
DISTRIBUTORS, INC.; NICK BONOS;
MICHAEL P. BYRUM; RICHARD M.
GOLDMAN; and CARL VERBONCOEUR

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-2STIPULATION AND [PROPOSED] ORDER RE CASE
MANAGEMENT ORDER

No. CV 10-01171 CRB

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Dated: May 27, 2011

Respectfully submitted,

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SCHIFF HARDIN LLP
MICHAEL K. WOLENSKY
CRAIG BRIDWELL

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By:

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/s/ Craig Bridwell
CRAIG BRIDWELL

Counsel for Defendants
JOHN O. DEMARET; COREY A.
COLEHOUR; J. KENNETH DALTON;
WERNER E. KELLER; THOMAS F.
LYDON; PATRICK T. MCCARVILLE; and
ROGER SOMERS

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PURSUANT TO STIPULATION, IT IS SO ORDERED.

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May 27, 2011
Dated: ________________, 2010

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______________________________________
HON. LUCY H. KOH
UNITED STATES DISTRICT JUDGE

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-3STIPULATION AND [PROPOSED] ORDER RE CASE
MANAGEMENT ORDER

No. CV 10-01171 CRB