Rosinek v. Psychiatric Solutions, Inc. et al

Filing 83

ORDER granting 18 Motion to Stay. This case shall be stayed pending further Order of the Court. Signed by District Judge Aleta A. Trauger on 8/20/10. (dt)

Rosinek v. Psychiatric Solutions, Inc. et al

Doc. 83

UNITED STATES DISTRICT COURT MIDDLE DISTRICT OF TENNESSEE NASHVILLE DIVISION ALISHA ROSINEK, on Behalf of Herself and All Other Similarly Situated Shareholders of Psychiatric Solutions, Inc., Plaintiff, v. PSYCHIATRIC SOLUTIONS, INC., UNIVERSAL HEALTH SERVICES, INC., OLYMPUS ACQUISITION CORP., JOEY A. JACOBS, MARK P. CLEIN, DAVID M. DILL, RICHARD D. GORE, CHRISTOPHER GRANT, JR., WILLIAM M. PETRIE, EDWARD K. WISSING, RONALD M. FINCHER, CHRISTOPHER L. HOWARD, JACK E. POLSON, and BRENT TURNER, Defendants. ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Case No. 3:10-cv-00534 Senior Judge Nixon Magistrate Judge Bryant

AGREED ORDER STAYING CASE

Defendants Psychiatric Solutions, Inc. ("PSI" or the "Company"), Joey A. Jacobs, Mark P. Clein, David M. Dill, Richard D. Gore, Christopher Grant, Jr., William M. Petrie, Edward K. Wissing, Ronald M. Fincher, Christopher L. Howard, Jack E. Polson, and Brent Turner (the "Individual Defendants") (PSI and the Individual Defendants will be collectively referred to as the "PSI Affiliates") and Defendants Universal Health Services, Inc. ("Universal") and Olympus Acquisition Corp. (collectively the "Universal Affiliates") (the PSI Affiliates and the Universal Affiliates will be collectively referred to

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as the "Defendants") have moved to stay these proceedings.

See Docket No. 18.

Defendants' motion is premised on the contention that this case should be stayed in favor of shareholder litigation relating to the same subject matter pending in Delaware state court (the "Delaware State Court Cases"). A settlement in principle has now been reached in Delaware resolving the Delaware State Court Cases. As part of that

settlement, a class of shareholders will be certified in Delaware with such class including Plaintiff Alisha Rosinek. Plaintiff and Defendants have also reached a settlement in principle resolving this case. As part of that settlement, Plaintiff has agreed not to object to the Delaware settlement, has reached a resolution of her Federal claims, and as evidenced by the signatures of counsel below, has agreed that the proceedings here should be stayed pending final approval of the Delaware settlement. The parties anticipate that the case here, upon completion of the Delaware State Court Cases, will be dismissed by way of Agreed Order. The parties have further agreed that should the settlement not be

consummated for any reason, the parties will promptly notify the Court of the same and any party may move to lift the stay. Accordingly, it is ORDERED, that this case shall be stayed pending further Order of the Court. This, the 20th day of August, 2010.

_______________________________ Judge Aleta Trauger

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