Hong v. Extreme Networks, Inc. et al

Filing 150

ORDER GRANTING 149 NOTICE OF SETTLEMENT AND JOINT STIPULATION TO STAY PROCEEDINGS. Signed by Judge Beth Labson Freeman on 9/7/2018. (blflc2S, COURT STAFF) (Filed on 9/7/2018) Modified on 9/7/2018 (blflc2S, COURT STAFF).

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LABATON SUCHAROW LLP
Carol C. Villegas (pro hac vice)
Alec T. Coquin (pro hac vice)
140 Broadway
New York, NY 10005
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
[e-mail]
Attorneys for Lead Plaintiff and Lead Counsel
for the Class

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DLA PIPER LLP (US)
Shirli Fabbri Weiss (Bar No. 079225)
David Priebe (Bar No. 148679)
2000 University Avenue
East Palo Alto, CA 94303-2214
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
[e-mail]

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Attorneys for Defendants
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[Additional counsel on signature page]
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UNITED STATES DISTRICT COURT
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NORTHERN DISTRICT OF CALIFORNIA
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This Document Relates to:
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All Actions.
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_____________________________________ )
In re EXTREME NETWORKS, INC.
SECURITIES LITIGATION

Master File No. 5:15-cv-04883-BLF-SVK
CLASS ACTION
NOTICE OF SETTLEMENT AND JOINT
STIPULATION TO STAY
PROCEEDINGS AND ORDER
JUDGE: Hon. Beth Labson Freeman

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NOTICE OF SETTLEMENT AND JOINT STIPULATION TO STAY PROCEEDINGS
MASTER FILE NO. 5:15-CV-04883-BLF-SVK

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Lead Plaintiff Arkansas Teacher Retirement System (“Lead Plaintiff”), together with

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Defendants Extreme Networks, Inc., Charles W. Berger, Kenneth B. Arola, and John T.

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Kurtzweil (collectively, “Defendants”), by an through their respective counsel, have stipulated

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and agreed, and hereby move as follows:

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WHEREAS, on September 4, 2018, following a mediation with the Robert A, Meyer,

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Esq., on July 18, 2018, and after extensive negotiations between the parties, the parties reached

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an agreement in principle to settle this action, subject to the Court’s approval;

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WHEREAS, on September 5, 2018, pursuant to this Court’s Standing Order in Civil
Cases, Part B, the parties emailed the Court’s courtroom deputy clerk to inform the Court of the

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settlement. The courtroom deputy promptly requested that the parties file a stipulation

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requesting that dates and deadlines be vacated;

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WHEREAS, Lead Plaintiff is currently scheduled to file its motion for class certification
on September 10, 2018;
WHEREAS, the parties are now working to timely memorialize the terms of the

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settlement and accompanying papers to the Court for preliminary approval of the proposed

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settlement, notice to absent class members, and final approval;

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WHEREAS, the parties believe they will need six weeks (by October 18, 2018) to
prepare and submit preliminary settlement approval papers to the Court;
WHEREAS, the parties agree that, in light of their agreement in principle to settle this

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action, all deadlines and hearings should be vacated, and all other proceedings in this action

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should be stayed pending the Court’s consideration of the proposed settlement;

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NOW THEREFORE the parties hereby stipulate as follows:

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1. Plaintiff will submit a motion for preliminary approval of the proposed settlement

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within six weeks (by October 18, 2018) of the filing of this stipulation;

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2. All deadlines and hearings in this action are vacated;

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NOTICE OF SETTLEMENT AND JOINT STIPULATION TO STAY PROCEEDINGS
MASTER FILE NO. 5:15-CV-04883-BLF-SVK

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Respectfully submitted,
Date: September 7, 2018

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LABATON SUCHAROW LLP
/s/ Carol C. Villegas
Carol C. Villegas (pro hac vice)
Alec T. Coquin (pro hac vice)
140 Broadway
New York, NY 10005
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
[e-mail]

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Counsel for Lead Plaintiff and Lead Counsel
for the Class

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BERMAN TABACCO
Nicole Lavallee (SBN 165755)
A. Chowning Poppler (SBN 272870)
44 Montgomery Street, Suite 650
San Francisco, CA 94104
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
[e-mail]

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Liaison Counsel for the Class
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Date: September 7, 2018

DLA PIPER LLP (US)

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/s/David Priebe
Shirli Fabbri Weiss (Bar No. 079225)
David Priebe (Bar No. 148679)
2000 University Avenue
East Palo Alto, CA 94303-2214
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
[e-mail]

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Attorneys for Defendants
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NOTICE OF SETTLEMENT AND JOINT STIPULATION TO STAY PROCEEDINGS
MASTER FILE NO. 5:15-CV-04883-BLF-SVK
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CASE MANAGEMENT ORDER
The above Notice of Settlement and Joint Stipulation to Stay Proceedings is approved.

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The Clerk is instructed to vacate all case deadlines. [In addition, the Court makes the further

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orders stated below:]

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IT IS SO ORDERED.

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September 7, 2018
Dated: ___________________

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HON. BETH LABSON FREEMAN
UNITED STATES DISTRICT COURT JUDGE

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NOTICE OF SETTLEMENT AND JOINT STIPULATION TO STAY PROCEEDINGS
MASTER FILE NO. 5:15-CV-04883-BLF-SVK
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