UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN JOSE DIVISION
January 20, 2010
IN RE SILICON STORAGE TECHNOLOGY, INC., DERIVATIVE LITIGATION
The opinion of the court was delivered by: Honorable Jeremy Fogel Judge of the U.S. District Court
STIPULATION AND [PROPOSED] ORDER FOR MOTION TO DISMISS BRIEFING SCHEDULE
This Document Relates To: ALL ACTIONS.
WHEREAS, on August 21, 2009, Lead Plaintiffs filed a Third Verified Consolidated Amended Shareholder Derivative Complaint ("Amended Complaint");
WHEREAS, on September 24, 2009, Defendants moved to dismiss the Amended Complaint;
WHEREAS, a Case Management Conference and hearing for Defendants' Motions to Dismiss has been set for February 5, 2010;
WHEREAS, counsel for the parties are in the process of finalizing an agreement in principle that was reached with the assistance of the Honorable William J. Cahill (Ret.) that would resolve the litigation;
WHEREAS, the parties anticipate they will be in a position to submit to the Court shortly a stipulation of settlement and motion for preliminary approval of the proposed settlement; and
WHEREAS, all parties agree that in the interests of judicial economy, Defendants' Motions to Dismiss and the Court's Case Management Conference, both currently scheduled for hearing on February 5, 2010, should be continued.
The parties hereby STIPULATE and AGREE, subject to Court approval, as follows:
1) Lead Plaintiffs shall file an opposition to Defendants' Motions to Dismiss by April 8, 2010;
2) If Defendants file and serve a reply to Lead Plaintiffs' opposition, they will do so by April 16, 2010; and
3) The hearing on Defendants' Motions to Dismiss or other responsive pleading and Case Management Conference shall be set for April 30, 2010 or another day as ordered by the Court.
By executing this Stipulation, the parties have not waived and expressly retain all claims, defenses and arguments whether procedural, substantive or otherwise. This Stipulation is without prejudice to any subsequent motion to stay this action, or any objections or defenses thereto, and this Order is entered without prejudice to the rights of any party to apply for a modification of this Order.
IT IS SO STIPULATED.
DATED: January 12, 2010
BARROWAY TOPAZ KESSLER MELTZER & CHECK, LLP NICHOLE BROWNING 580 California Street, Suite 1750 San Francisco, CA 94104 Telephone: (415) 400-3000 Facsimile: (415) 400-3001
ERIC L. ZAGAR JAMES H. MILLER 280 King of Prussia Road Radnor, PA 19087 Telephone: (610) 667-7706 Facsimile: (610) 667-7056
WOLF HALDENSTEIN ADLER FREEMAN & HERZ LLP BETSY C. MANIFOLD FRANCIS M. GREGOREK RACHELE R. RICKERT Symphony Towers 750 B Street, Suite 2770 San Diego, CA 92101 Telephone: (619) 239-4599 Facsimile: (619) 234-4599 Co-Lead Counsel for Lead Plaintiffs
DATED: January 12, 2010
COOLEY GODWARD LLP JOHN DWYER WILLIAM FREEMAN Five Palo Alto Square 3000 El Camino Real Palo Alto, CA 94306-2155 Telephones: 650-843-5000 Facsimile: 650-857-0663 Attorneys for Nominal Defendant, Silicon Storage Technology, Inc.
MCDERMOTT, WILL & EMERY LLP MATTHEW J. JACOBS Attorneys for Director Defendants Tsuyoshi Taira, Yasushi Chikagami, Ronald Chwang, Terry Nickerson, Bing Yeh and Yaw Wen Hu
HOGAN & HARTSON LLP HOWARD S. CARO Attorneys for Officer Defendant Jeffrey Garon
ATTESTATION PURSUANT TO GENERAL ORDER
I, Nichole T. Browning, attest that concurrence in the filing of this document has been obtained from the other signatories. I declare under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed this 12th day of January, 2010, at San Francisco, California.
PURSUANT TO STIPULATION AND FOR GOOD CAUSE SHOWN HEREIN, IT IS SO ORDERED.
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