Esposito v. Brown et al

Filing 42

ORDER - Appointing Englehart Investor Group as Lead Plaintiff and Approving Johnson and Weaver as Lead Counsel re: 31 33 , by Judge Robert S. Lasnik.(MD)

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UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF WASHINGTON
AT SEATTLE

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DR. JOHN G. ESPOSITO, JR., on behalf
of himself and similarly situated persons,
No. C13-2125RSL

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Plaintiff,

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v.
CHARLES M. BROWN, et al.,

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ORDER APPOINTING
ENGLEHART INVESTOR
GROUP AS LEAD PLAINTIFF
AND APPROVING JOHNSON &
WEAVER AS LEAD COUNSEL

Defendants.

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This matter comes before the Court on competing motions for appointment
of lead plaintiff and lead counsel in the above-captioned matter. Dkt. # 31 and Dkt. # 33.
Having considered the memoranda, declarations, and exhibits submitted by the parties,1
the Court finds as follows:

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(1) The Englehart Investor Group (“EIG”) satisfies the requirements of 15 U.S.C.
§ 78u-4(a)(3)(B), is most capable of adequately representing the interests of absent class
members, and is hereby appointed as lead plaintiff to prosecute the claims asserted in this
case.

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This matter can be decided on the papers submitted. The parties’ requests for
oral argument are DENIED.
ORDER APPOINTING ENGLEHART
INVESTOR GROUP AS LEAD PLAINTIFF

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(2) The members of EIG, as lead plaintiff, shall make every effort to confer and

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communicate with one another as necessary or required to make or coordinate strategic

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decisions in this action, and further shall make every effort to resolve any disagreement or

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differing opinions that may arise over any decision or direction required of lead plaintiff

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in this action. In the event that the members of EIG are unable to communicate and make

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a joint decision or cannot reach an agreement on a necessary or strategic decision in this

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action, group member Robert Englehart shall have final authority to make any decision

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required of lead plaintiff in this action.

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(3) The Private Securities Litigation Reform Act (“PSLRA”) provides that once

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the lead plaintiff is selected, it “shall, subject to the approval of the court, select and retain

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counsel to represent the class.” 15 U.S.C. § 78u- 4(a)(3)(B)(v). EIG has selected the law

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firms of Johnson & Weaver, LLP, and Robbins Geller Rudman & Dowd, LLP, to serve as

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lead counsel for the class and Stritmatter Kessler Whelan to act as liaison counsel. Those

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selections are hereby approved.

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(4) Lead and liaison counsel shall work together collaboratively. However,

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Johnson & Weaver shall have and assume the following responsibilities, duties, and

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powers:

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a. to coordinate the briefing and argument of any and all motions;

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b. to coordinate the conduct of any and all discovery proceedings and other

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pretrial proceedings;

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c. to coordinate the class certification process;

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d. to coordinate the selection of counsel to act as spokesperson at all

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pretrial conferences and hearings;
e. to call meetings of counsel as they deem necessary and appropriate from
time to time;
f. to coordinate all settlement negotiations with counsel for defendants;
ORDER APPOINTING ENGLEHART
INVESTOR GROUP AS LEAD PLAINTIFF

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g. to coordinate and direct the preparation for trial, the trial, and the post-

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trial proceedings in this matter;
h. to delegate non-duplicative work assignments to selected counsel as may

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be advisable and required;
i. to engage in communications with the Court and defendants’ counsel on

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behalf of all plaintiffs; and
j. to supervise all other matters concerning the prosecution or resolution of

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this action.
(5) No motion, discovery request, or other pretrial proceedings shall be initiated or

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filed by any plaintiff without the approval of Johnson & Weaver, so as to prevent

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duplicative pleadings or discovery by plaintiffs and to encourage a unified presentation of

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plaintiffs’ case. No settlement negotiations shall be conducted without the approval of

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Johnson & Weaver.

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(6) All future filings in this action shall bear the following caption:

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UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF WASHINGTON
AT SEATTLE
_______________________________________
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In re FLOW INTERNATIONAL
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CORPORATION,
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)
_______________________________________)

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ORDER APPOINTING ENGLEHART
INVESTOR GROUP AS LEAD PLAINTIFF

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C13-2125RSL

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For all of the foregoing reasons, EIG’s “Motion for Appointment as Lead

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Plaintiff and Approval of Selection of Counsel” (Dkt. # 33) is GRANTED. Dr.

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Esposito’s “Motion for Appointment of Lead Plaintiff and Lead and Liaison Counsel”

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(Dkt. # 31) is DENIED.

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Dated this 15th day of January, 2015.

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A
Robert S. Lasnik

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United States District Judge

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ORDER APPOINTING ENGLEHART
INVESTOR GROUP AS LEAD PLAINTIFF

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