The opinion of the court was delivered by: Hon. Edward M. Chen United States District Court Judge
STIPULATION AND [PROPOSED] SCHEDULING AND RESCHEDULING INITIAL CASE MANAGEMENT CONFERENCE ORDER Class Action
Plaintiff Haverhill Retirement Center, individually and on behalf of all others similarly situated, by and through his respective counsel ("Plaintiff"), and defendants Impax Laboratories, Inc., Larry Hsu, Arthur A. Koch, and Bryan M. Reasons, by and through their respective counsel, (collectively, "Defendants"), hereby stipulate to the following:
WHEREAS, on April 8, 2013, Plaintiff filed a complaint captioned Haverhill Retirement System v. Impax Laboratories, Inc. et al., No. 13-cv-1566, a purported class action under the Private Securities Litigation Reform Act of 1995 (the "PSLRA") alleging securities fraud, which was assigned to Judge Charles R. Breyer;
WHEREAS, pursuant to the April 8, 2013 Case Management Conference Order (Dkt. #8), the Initial Case Management Conference is scheduled for July 12, 2013;
WHEREAS, pursuant to the April 19, 2013 Related Case Order, the Haverhill Retirement System v. Impax Laboratories, Inc. et. al., No. 13-cv-1566, was reassigned to Judge Edward M. Chen;
WHEREAS, the Complaint asserts claims under the federal securities laws that are subject to the procedural requirements of the PSLRA, including those set forth in 15 U.S.C. § 78u-4;
WHEREAS, Defendants presently intend to file a motion to dismiss, which would trigger a stay of discovery under the PSLRA, 15 U.S.C. § 78u-4(b)(3)(B);
WHEREAS, under the PSLRA, the Court may come to consider consolidation of the complaint already filed, along with any further complaints that may be filed arising out of the same set of facts and circumstances as the existing complaint;
WHEREAS, motions for appointment of lead plaintiff and lead counsel pursuant to the PSLRA, 15 U.S.C. § 78u-4(a)(3) will be filed with the Court;
WHEREAS, in order to avoid the unnecessary expenditure of judicial resources or effort by the parties to this action and the Court prior to filing of the motion(s) for appointment of Lead Plaintiff, the parties to this action have agreed, in the interim prior to the appointment of Lead Plaintiff and subject to the Court's approval, to the continuance of the Initial Case Management Conference and an extension of time for Defendants to respond to the Complaint or any superseding Complaint; and
WHEREAS, this Stipulation and Order is without prejudice to, or waiver of, any rights, arguments, or defenses otherwise available to the parties to this action, including, but not limited to, the right to revisit the timing of the below-referenced pleadings and motions once Lead Counsel has been designated by the Court.
NOW THEREFORE, the undersigned parties, by and through their counsel of record, stipulate as follows:
1. Defendants shall have no obligation to respond to the Complaint filed in the above-captioned action;
2. Lead Plaintiff(s) shall have sixty (60) days after entry of an order appointing Lead Plaintiff(s) to file and serve a consolidated or amended complaint ("Consolidated or Amended Complaint") or to notify Defendants ...