West Palm Beach Fire Pension Fund v. Lawrence "Larry" Page et al

Filing 40

STIPULATION AND ORDER 39 Staying Action. Case is Stayed. Signed by Judge Ronald M. Whyte on 6/26/15. (jgS, COURT STAFF) (Filed on 6/26/2015)

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BORIS FELDMAN, State Bar No. 128838
ELIZABETH C. PETERSON, State Bar No. 194561
WILSON SONSINI GOODRICH & ROSATI
Professional Corporation
650 Page Mill Road
Palo Alto, CA 94304-1050
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
[e-mail]
Attorneys for Defendants Larry Page, Sergey
M. Brin, Eric E. Schmidt, L. John Doerr,
Diane B. Greene, John L. Hennessy, Ann
Mather, Paul S. Otellini, K. Ram Shriram,
Shirley M. Tilghman, Michael J. Moritz,
Arthur D. Levinson, Robert Alan Eustace,
Omid R. Kordestani, Jonathan J. Rosenberg,
Shona L. Brown, Arnnon Geshuri, and
Nominal Defendant Google Inc.
[Additional Counsel Appear on Signature Pages]

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA
WEST PALM BEACH FIRE PENSION FUND,
Plaintiff,
v.
LAWRENCE “LARRY” PAGE, SERGEY M.
BRIN, ERIC E. SCHMIDT, L. JOHN DOERR,
DIANE B. GREENE, JOHN L. HENNESSY,
ANN MATHER, PAUL S. OTELLINI, K. RAM
SHRIRAM, SHIRLEY M. TILGHMAN,
MICHAEL J. MORITZ, ARTHUR D.
LEVINSON, ROBERT ALAN EUSTACE,
OMID R. KORDESTANI, JONATHAN J.
ROSENBERG, SHONA L. BROWN, and
ARNNON GESHURI,

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Defendants.
and
GOOGLE INC.

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STIPULATION AND []
ORDER STAYING ACTION
CASE NO. 5:15-CV-01334-RMW

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CASE NO.: 5:15-cv-01334-RMW
STIPULATION AND []
ORDER STAYING ACTION
Date:
Time:
Judge:

N/A
N/A
Hon. Ronald M. Whyte

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WHEREAS, on March 23, 2015, Plaintiff West Palm Beach Fire Pension Fund

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(“Plaintiff”) filed its Verified Shareholder Derivative Complaint (the “Complaint”) against

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Defendants;1

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WHEREAS, on February 28, 2014, a purported shareholder derivative action asserting

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state law claims arising from facts common to this action was filed against all but one of the

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Defendants in Santa Clara County Superior Court, followed by two additional purported

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shareholder derivative actions that were filed on March 6, 2014 and April 29, 2014;

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WHEREAS, on May 27, 2014, these three purported shareholder actions were
consolidated under the caption, In re Google Inc. Shareholder Derivative Litigation, Lead Case
No. 1-14-CV-261485 (the “State Court Action”);

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WHEREAS, on December 3, 2014, the State Court Action defendants filed a motion for

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summary judgment on statute of limitations grounds and the hearing on defendants’ motion is

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scheduled for September 4, 2015;

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WHEREAS, there appears to be substantial overlap between the allegations, facts,

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defenses, and parties in the instant action and the State Court Action, and the resolution of the

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statute of limitations issue in the State Court Action bears directly on Plaintiff’s state law claims

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in this action;

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WHEREAS, the parties have met and conferred regarding whether the instant action
should be stayed pending resolution of the State Court Action;

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WHEREAS, during these discussions counsel for Plaintiff informed counsel for

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Defendants that Plaintiff was considering intervening or seeking to brief the statute of limitations

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issue as an interested party in the State Court Action;

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WHEREAS, counsel for Defendants advised that they would not oppose such
intervention or briefing, assuming Plaintiff agreed to stipulate to a stay of this action, but would

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Individual Defendants Larry Page, Sergey M. Brin, Eric E. Schmidt, L. John Doerr, Diane
B. Greene, John L. Hennessy, Ann Mather, Paul S. Otellini, K. Ram Shriram, Shirley M.
Tilghman, Michael J. Moritz, Arthur D. Levinson, Robert Alan Eustace, Omid R. Kordestani,
Jonathan J. Rosenberg, Shona L. Brown, Arnnon Geshuri, and Nominal Defendant Google Inc.
(“Google”) (collectively, “Defendants”).
STIPULATION AND []
ORDER STAYING ACTION
CASE NO. 5:15-CV-01334-RMW

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oppose any efforts by Plaintiff to obtain the discovery Defendants have provided to date in the

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State Court Action;

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WHEREAS, under the circumstances of this case, the parties agree that a stay of this

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action pending resolution of the State Court Action will likely promote efficiency for the parties

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and the Court, and will avoid the risk of inconsistent rulings on the statute of limitations issue on

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Plaintiff’s state law claims;

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NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED, by Plaintiff and

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Defendants, through their undersigned counsel of record and subject to Court approval, as

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follows:

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1.

This action, including all deadlines and hearings, is hereby stayed pending

resolution of the State Court Action;

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2.

Plaintiff and Defendants shall submit a brief Joint Status Report apprising the

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Court of the status of the State Court Action on September 18, 2015, and continuing every three

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months thereafter;

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3.

Within thirty (30) days after the expiration of the stay, the parties shall meet and

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confer and submit a proposed scheduled to the Court for any further proceedings in this action;

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and

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4.

By entering into this Stipulation, the parties do not waive any rights not

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specifically addressed herein, including the right to file any motion that any party deems

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appropriate, once this action is no longer stayed.

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IT IS SO STIPULATED.

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Dated: June 22, 2015

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WILSON SONSINI GOODRICH & ROSATI
BORIS FELDMAN
ELIZABETH C. PETERSON
By: /s/ Elizabeth C. Peterson
Elizabeth C. Peterson

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STIPULATION AND
ORDER STAYING ACTION
CASE NO. 5:15-CV-01334-RMW

650 Page Mill Road
Palo Alto, California 94304-1050
Telephone: [phone]
Fax: [phone]
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Counsel for Defendants Larry Page, Sergey M.
Brin, Eric E. Schmidt, L. John Doerr, Diane B.
Greene, John L. Hennessy, Ann Mather, Paul S.
Otellini, K. Ram Shriram, Shirley M. Tilghman,
Michael J. Moritz, Arthur D. Levinson, Robert
Alan Eustace, Omid R. Kordestani, Jonathan J.
Rosenberg, Shona L. Brown, Arnnon Geshuri,
and Nominal Defendant Google Inc.

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Dated: June 22, 2015

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SCOTT+SCOTT, ATTORNEYS AT LAW, LLP
JOHN JASNOCH
By: /s/ John Jasnoch (with permission)
John Jasnoch

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707 Broadway, Suite 1000
San Diego, California 92101
Telephone: [phone]
Fax: [phone]

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SCOTT+SCOTT, ATTORNEYS AT LAW, LLP
JUDY SCOLNICK
THOMAS L. LAUGHLIN, IV
The Chrysler Building
405 Lexington Avenue, 40th Floor
New York, New York 10174
Telephone: [phone]
Fax: [phone]

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Counsel for Plaintiff

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I, Elizabeth C. Peterson, am the ECF user whose ID and password are being used to file
this STIPULATION AND [PROPOSED] ORDER STAYING ACTION. In compliance with
General Order 45, X.B., I hereby attest that John Jasnoch has concurred in this filing.

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***
STIPULATION AND []
ORDER STAYING ACTION
CASE NO. 5:15-CV-01334-RMW

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[] ORDER
PURSUANT TO STIPULATION, IT IS SO ORDERED.

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DATED:

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THE HONORABLE RONALD M. WHYTE
UNITED STATES DISTRICT JUDGE

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STIPULATION AND []
ORDER STAYING ACTION
CASE NO. 5:15-CV-01334-RMW

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