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Martin Schulthes, Individually and On v. Netflix

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION


April 8, 2013

MARTIN SCHULTHES, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED,
PLAINTIFF,
v.
NETFLIX, INC., REED HASTINGS AND DAVID WELLS, DEFENDANTS.

The opinion of the court was delivered by: Judge Edward M. Chen United States District Judge

STIPULATION AND [PROPOSED] ORDER EXTENDING DEFENDANTS' TIME TO RESPOND TO CLASS ACTION COMPLAINT AND CONTINUING ) CASE MANAGEMENT CONFERENCE

WHEREAS, plaintiff Martin Schulthes ("Plaintiff") filed a purported Class Action Complaint for Violations of the Federal Securities Laws (the "Complaint") against defendants 3 Netflix, Inc., Reed Hastings, and David Wells (collectively, "Defendants") in the above-entitled 4 matter on February 19, 2013;

WHEREAS, based on the date on which the Complaint was served, Defendants' response 6 to the Complaint currently is due on or before April 22, 2013;

WHEREAS, pursuant to the Court's February 19, 2013 Order Setting Initial Case Management Conference and ADR Deadlines, the Initial Case Management Conference is 9 scheduled for May 23, 2013; 10

WHEREAS, the Complaint sets forth claims under the federal securities laws that are 11 subject to the procedural requirements of the Private Securities Litigation Reform Act of 1995 12 ("PSLRA"), including those set forth in 15 U.S.C. § 78u-4; 13

WHEREAS, the PSLRA requires that, after filing a securities class action, the plaintiff 14 must give notice of the action to allow other interested shareholders the opportunity to file 15 motions for appointment as lead plaintiff (see 15 U.S.C. § 78u-4(a)(3)) and, thereafter, that the 16 Court appoint a lead plaintiff; 17

WHEREAS, to avoid unnecessary expenditure of judicial resources or effort by the 18 parties and the Court, counsel for Plaintiff and Defendants have agreed (1) that Defendants do 19 not need to respond to the Complaint prior to the Court's appointment of lead plaintiff and (2) to 20 continue the Initial Case Management Conference until after a lead plaintiff has been appointed 21 to represent the alleged class. 22

NOW, THEREFORE, it is hereby stipulated and agreed by the undersigned counsel for Plaintiff and counsel for Defendants as follows: 24

1. Defendants are not required to respond to the Complaint by April 22, 2013, or at 25 any time prior to the Court's appointment of a lead plaintiff. 26

2. After the appointment of lead plaintiff, counsel for the lead plaintiff and counsel 27 for Defendants shall forthwith attempt to stipulate to and present to the Court for approval a 28 schedule by which Defendants shall respond to the Complaint, or any amended complaint, as 2 applicable. 3

3. The Initial Case Management Conference, currently scheduled for May 23, 2013, 4 is hereby adjourned to such other date and time as this Court shall order. 5 6

Dated: April 2, 2013 WILSON SONSINI GOODRICH & ROSATI Professional Corporation 7 650 Page Mill Road Palo Alto, CA 94304-1050 8 Telephone: (650) 493-9300 Facsimile: (650) 565-5100 9 10 By: /s/ Luke A. Liss Luke A. Liss 11 lliss@wsgr.com 12 Attorneys for Defendants Netflix Inc., Reed Hastings and David Wells 13 14 I, Luke A. Liss, am the ECF User whose ID and password are being used to file this STIPULATION AND [PROPOSED] ORDER EXTENDING DEFENDANTS' TIME TO 15 RESPOND TO CLASS ACTION COMPLAINT AND CONTINUING CASE MANAGEMENT CONFERENCE. In compliance with Civil L.R. 5-1(i)(3), I hereby attest that the signatory below 16 has concurred in this filing. 17 18 Dated: April 2, 2013 ROSENFARB LAW FIRM 825 Third Avenue, 4th Floor 19 New York, NY 10022 Telephone: (855) 255-1100 20 21 By: /s/ Jorge A. Amador Jorge A. Amador 22 jorge.amador@rosenfarblawfirm.com 23 Attorneys for Plaintiff Martin Schulthes

[PROPOSED] ORDER

PURSUANT TO STIPULATION, IT IS SO ORDERED. The CMC is rescheduled to 7/11/13 at 9:00 a.m. A joint CMC Statement shall be filed by 7/5/13.

IT IS SO ORDERED AS MODIFIED

20130408

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