Carpenter's Pension Fund of West Virginia v. Hong et al

Filing 28

STIPULATION AND ORDER 27 to Extend Temporary Deferral of Prosecution of Derivative Action. Signed by Judge Ronald M. Whyte on 5/9/13. (jg, COURT STAFF) (Filed on 5/9/2013)

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DOUGLAS J. CLARK, State Bar No. 171499
Email: [e-mail]
CYNTHIA A. DY, State Bar No. 172761
Email: [e-mail]
THOMAS J. MARTIN, State Bar No. 150039
Email: [e-mail]
ANGIE YOUNG KIM, State Bar No. 270503
Email: [e-mail]
WILSON SONSINI GOODRICH & ROSATI
Professional Corporation
650 Page Mill Road
Palo Alto, CA 94304-1050
Telephone: [phone]
Facsimile: [phone]

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Attorneys for Defendants
SHAW HONG, DWIGHT STEFFENSEN,
JOSEPH JENG, HENRY YANG,
WILLIAM HSU and Nominal Defendant
OMNIVISION TECHNOLOGIES, INC.

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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CARPENTERS PENSION FUND OF WEST
VIRGINIA, Derivatively on Behalf of
OMNIVISION TECHNOLOGIES, INC.,

)
)
)
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Plaintiff,
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v.
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)
SHAW HONG, DWIGHT STEFFENSEN,
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JOSEPH JENG, HENRY YANG and WILLIAM )
HSU,
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Defendants.
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-and)
)
OMNIVISION TECHNOLOGIES, INC., a
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Delaware corporation,
)
)
Nominal Party.
)
)
)

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STIP. & [] ORDER TO EXTEND
TEMPORARY DEFERRAL
CASE NO. 5:12-cv-01423-RMW

Case No.: 5:12-cv-01423 RMW
STIPULATION AND []
ORDER TO EXTEND
TEMPORARY DEFERRAL OF
PROSECUTION OF DERIVATIVE
ACTION

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STIPULATION
WHEREAS, on December 4, 2012, this Court entered a Stipulation and Order

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temporarily deferring prosecution of this derivative action until the Court ruled on the motion to

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dismiss in the action captioned In re OmniVision Technologies, Inc. Litigation, Case No. 5:11-

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cv-5235-RMW (N.D. Cal.) (the “Securities Case”) [Dkt. No. 25];

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WHEREAS, on March 29, 2013, this Court ruled on the motion to dismiss filed in the
Securities Case;
WHEREAS, on April 18, 2013, the parties filed a Joint Status Report in this action
notifying the Court that the parties were still conferring regarding these proceedings and the

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proceedings in similar derivative actions pending in the Delaware Court of Chancery (Pope v.

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Hong, Civ. A. No. 7514-VCN), and California Superior Court, Santa Clara County (In re

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OmniVision Technologies Derivative Litigation, Lead Case No. 1-12-CV-216875) and would file

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another status report by May 6, 2013 [Dkt. No. 26];

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WHEREAS, while the instant action asserts different causes of action, it involves some
of the same parties and factual allegations as the Securities Case;

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WHEREAS, based on the circumstances unique to this action, and to avoid unnecessary

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expenditure of judicial resources prior to resolution of an anticipated summary judgment motion

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in the Securities Case, the parties to this action have agreed, subject to this Court’s approval, to

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extend the temporary deferral of prosecution, including motion practice and discovery, in this

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action until such time as the United States District Court has issued an order ruling on the

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defendants’ anticipated summary judgment motion in the Securities Case;

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WHEREAS, the parties in the Pope and In re OmniVision derivative actions also have
agreed to continue the deferral of prosecution or stay of proceedings in those actions;
NOW THEREFORE, the undersigned parties, by and through their counsel of record,
hereby stipulate as follows:
1.

The terms of the prior Stipulation and Order shall be extended pending entry of an

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order from the United States District Court ruling on defendants’ anticipated motion for

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summary judgment in In re OmniVision Technologies, Inc. Litigation, Case No. 5:11-cv-5235STIP. & [] ORDER TO EXTEND
TEMPORARY DEFERRAL
CASE NO. 5:12-cv-01423-RMW

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RMW (the “Ruling”).

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2.

Within twenty (20) days following the Ruling, the parties to the above-captioned

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action shall meet and confer regarding further proceedings and submit a joint status report to the

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Court.

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3.

At any time during which the prosecution of this case is deferred pursuant to this

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Order, a party may file a motion with the Court seeking to modify the terms of the Order, which

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may be opposed by any other party. Any party filing a motion to modify the terms of the Order

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will provide at least thirty (30) days notice to all other parties to the action before filing such a

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motion.

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Dated: May 6, 2013

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Respectfully submitted,
WILSON SONSINI GOODRICH & ROSATI
Professional Corporation
650 Page Mill Road
Palo Alto, CA 94304-1050
Telephone: [phone]
Facsimile: [phone]

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By: /s/ Cynthia A. Dy
Cynthia A. Dy

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Attorneys for Defendants
Shaw Hong, Dwight Steffensen, Joseph Jeng, Henry
Yang, William Hsu, and Nominal Defendant
OmniVision Technologies, Inc.

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ROBBINS GELLER RUDMAN & DOWD LLP
Aelish M. Baig
Post Montgomery Center
One Montgomery Street, Suite 1800
San Francisco, CA 94104
Telephone: [phone]
Facsimile: [phone]
-andBenny C. Goodman III
Erik W. Luedeke
655 West Broadway, Suite 1900
San Diego, CA 92101
Telephone: [phone]
Facsimile: [phone]

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By: /s/ Benny C. Goodman III
Benny C. Goodman III

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STIP. & [] ORDER TO EXTEND
TEMPORARY DEFERRAL
CASE NO. 5:12-cv-01423-RMW

Attorneys for Plaintiff
Carpenters Pension Fund of West Virginia
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[] ORDER

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PURSUANT TO THE PARTIES’ STIPULATION, IT IS HEREBY ORDERED THAT:

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1.

The terms of the prior Stipulation and Order shall be extended pending entry of an

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order from the United States District Court ruling on defendants’ anticipated motion for

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summary judgment in In re OmniVision Technologies, Inc. Litigation, Case No. 5:11-cv-5235-

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RMW (the “Ruling”).

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2.

Within twenty (20) days following the Ruling, the parties to the above-captioned

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action shall meet and confer regarding further proceedings and submit a joint status report to the

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Court.

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3.

At any time during which the prosecution of this case is deferred pursuant to this

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Order, a party may file a motion with the Court seeking to modify the terms of the Order, which

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may be opposed by any other party. Any party filing a motion to modify the terms of the Order

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will provide at least thirty (30) days notice to all other parties to the action before filing such a

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motion.

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Dated:
Hon. Ronald M. Whyte
United States District Judge

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STIP. & [] ORDER TO EXTEND
TEMPORARY DEFERRAL
CASE NO. 5:12-cv-01423-RMW

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