Takiguchi et al v. MRI International, Inc. et al

Filing 808

ORDER approving ECF No. 807 Stipulation. Motion for Preliminary Approval of Class Action Settlement as to MRI International Inc and Edwin Fujinaga is due by 4/17/2018. Signed by Judge Howard D. McKibben on 2/16/2018. (Copies have been distributed pursuant to the NEF - KR)

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1 2 3 4 JAMES E. GIBBONS (pro hac vice) Cal. State Bar No. 130631 MANNING & KASS ELLROD, RAMIREZ, TRESTER LLP 801 South Figueroa Street, 15th Floor Los Angeles, CA 90017 Tel. (213) 624-6900 jeg@manningllp.com 5 10 ROBERT W. COHEN (pro hac vice) Cal. State Bar No. 150310 MARIKO TAENAKA (pro hac vice) Cal. State Bar No. 273895 LAW OFFICES OF ROBERT W. COHEN, A.P.C. 1901 Avenue of the Stars, Suite 1900 Los Angeles, CA 90067 Tel. (310) 282-7586 rwc@robertwcohenlaw.com mt@robertwcohenlaw.com 11 Attorneys for Plaintiffs 6 7 8 9 12 UNITED STATES DISTRICT COURT 13 DISTRICT OF NEVADA 14 15 16 17 SHIGE TAKIGUCHI, FUMI NONAKA, MITSUAKI TAKITA, TATSURO SAKAI, SHIZUKO ISHIMORI, YUKO NAKAMURA, MASAAKI MORIYA, HATSUNE HATANO, and HIDENAO TAKAMA, individually and on behalf of all others similarity situated, 18 19 20 21 22 23 Plaintiff, v. Case No.: 2:13-cv-01183-HDM-NJK ORDER AND STIPULATION FOR THIRD CONTINUANCE OF DEADLINE TO FILE MOTION FOR PRELIMINARY APPROVAL OF CLASS ACTION SETTLEMENT AS TO MRI INTERNATIONAL, INC. AND EDWIN FUJINAGA MRI INTERNATIONAL, INC., EDWIN J. FUJINAGA, JUNZO SUZUKI, PAUL MUSASHI SUZUKI, LVT, INC., dba STERLING ESCROW, and DOES 1-500, Defendants. 24 25 26 27 28 1 STIPULATION TO CONTINUE THE DEADLINE TO FILE CLASS ACTION SETTLEMENT APPROVAL Plaintiffs Shige Takiguchi, et. al. and Defendants MRI International, Inc. (“MRI”) and Edwin 1 2 Fujinaga (collectively the “Parties”) submit this stipulation for an order continuing the deadline for to file 3 a motion for preliminary approval of class action settlement. WHEREAS, on November 17, 2017 the Court ordered the Parties to file a motion for preliminary 4 5 approval of class action settlement no later than December 11, 2017 (Dkt. 764); WHEREAS, the Parties reached a settlement in principle in September 2017 and have exchanged 6 7 drafts of the settlement agreement (“Class Action Settlement Agreement”); WHEREAS, on November 17, 2017 Mr. Fujinaga raised, for the first time, his concern that, since 8 9 a receiver has been appointed by the Court in the parallel U.S Securities and Exchange Commission’s 10 action against MRI and himself (SEC v. MRI International, Inc., USDC Nevada Case No. 2:13-cv-1658, 11 Dkt. 226) (“SEC Action”), he believed that he may not be authorized to enter into any settlement on 12 behalf of MRI or himself; WHEREAS, on November 18, 2017, the Court appointed receiver in the SEC Action, Robb 13 14 Evans & Associates, confirmed its belief to plaintiff’s counsel that Mr. Fujinaga was not authorized to 15 enter into a settlement agreement with Plaintiffs and directed that Plaintiffs send a copy of the Class 16 Action Settlement Agreement to the receiver’s counsel, Lynch Law Practice; WHEREAS, on November 30, 2017, the Receiver declined to enter into the Class Action 17 18 Settlement Agreement because he did not believe that the settlement would benefit the receivership 19 estate; 20 WHEREAS, on November 30, 2017, and December 7, 2017, Plaintiffs’ counsel met and 21 conferred with Receiver’s counsel, Michael Lynch, Esq., explaining that the order appointing receiver 22 specifically includes a carve-out provision exempting the present action from the Receiver’s control and 23 that, in any event, the settlement is in the best interest of all parties, including the receivership estate; 24 25 WHEREAS, the Receiver maintains its position that he is unable to authorize the settlement absent direction from the Court; 26 WHEREAS, on December 15, 2017, the Parties filed a joint motion in the SEC Action requesting 27 direction from the Court, either that the Receiver lacks authority to direct the settlement in this action, or 28 that Judge Mahan order the Receiver to enter into the Class Action Settlement Agreement; 2 STIPULATION TO CONTINUE THE DEADLINE TO FILE CLASS ACTION SETTLEMENT APPROVAL 1 WHEREAS, on December 22, 2017, the Receiver filed a response to the joint motion; 2 WHEREAS, on January 8, 2018, the Parties filed a reply conveying this Court’s strong belief that 3 it is in the best interest of all the parties for Judge Mahan to approve the settlement; 4 WHEREAS, Judge Mahan has not yet ruled on the joint motion; and 5 WHEREAS, this is the Parties’ third request for a continuance; 6 NOW, therefore, the Parties jointly move that the Court enter an order providing for: 7 8 1. A 60-day continuance of the deadline to file a motion for preliminary approval to April 17, 2018. 9 Dated: February 16, 2018 10 11 MANNING & KASS ELLROD, RAMIREZ, TRESTER LLP By: 12 13 /s/ James Gibbons JAMES E. GIBBONS STEVEN J. RENICK Attorneys for Plaintiffs 14 LAW OFFICES OF ROBERT W. COHEN A Professional Corporation 15 16 17 By: 18 19 20 /s/ Robert W. Cohen ROBERT W. COHEN MARIKO TAENAKA Attorneys for Plaintiffs HITZKE & FERRAN 21 By: 22 23 /s/ Erick Ferran Erick Ferran Attorneys for Defendant MRI International, Inc. and Edwin Fujinaga 24 25 PURSUANT TO STIPULATION, IT IS SO ORDERED. 26 27 28 DATED: _____________________ February 16, 2018 ______________________________ United States District Judge 3 STIPULATION TO CONTINUE THE DEADLINE TO FILE CLASS ACTION SETTLEMENT APPROVAL

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