Opinion
O'MELVENY & MYERS LLP, Jonathan Rosenberg, rosenberg@omm.com, B. Andrew Bednark, bednark@omm.com, New York, New York, Robert Stern, rstern@omm.com, Washington, DC, Debra S. Belaga, dbelaga@omm.com, Aaron M. Rofkahr, arofkahr@omm.com, San Francisco, California, Attorneys for Defendants.
FREELAND COOPER & FOREMAN LLP, Stewart H. Foreman, foreman@freelandlaw.com, Daniel T. Bernhard, bernhard@freelandlaw.com, San Francisco, California, MOOMJIAN, WAITE, WACTLAR & COLEMAN, LLP, Edward S. Wactlar, ewactlar@mwwcllp.com, Jill T. Braunstein, jbraunstein@mwwcllp.com, Jericho, New York, Attorneys for Plaintiff.
STIPULATION AND ORDER GRANTING LEAVE TO EXCEED PAGE LIMITS ESTABLISHED BY THE COURT'S CIVIL STANDING ORDERS
JEFFREY S. WHITE, District Judge.
Plaintiff Aeroflex Incorporated and Defendants Bank of America Corporation and Banc of America Securities LLC (collectively "Defendants"), by and through their respective counsel of record, hereby stipulate as follows:
WHEREAS, Plaintiff filed a First Amended Complaint for Violation of Federal Securities Laws, Fraud, and Rescission ("FAC") on December 28, 2009;
WHEREAS, the FAC asserts federal securities-fraud and common-law claims related to auction-rate securities ("ARS"), financial instruments that pay interest at rates set at periodic auctions;
WHEREAS, the FAC alleges that Defendants engaged in a comprehensive scheme to defraud Plaintiff by (i) manipulating the market for ARS in violation of Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and (c), and (ii) failing to disclose material facts about ARS, which constituted common-law fraud;
WHEREAS, the parties agree that the FAC's scope and complexity warrant a modest increase in the page limits imposed by this Court's Civil Standing Orders for Defendants' opening brief and Plaintiff's opposition brief on Defendants' motion to dismiss, but that the page limit for Defendants' reply brief shall remain 15 pages.
IT IS THEREFORE STIPULATED AND AGREED, by and between Plaintiff and Defendants, acting through their respective counsel, subject to this Court's approval, as follows:
1. Defendants' memorandum of law in support of their motion to dismiss shall not exceed 25 pages; and
2. Plaintiff's memorandum of law in opposition to Defendants' motion to dismiss shall not exceed 25 pages.
ORDER
Having reviewed the above stipulation, IT IS HEREBY ORDERED that the page limits for the motion-to-dismiss briefing in this matter shall be:
Defendants' motion to dismiss: 25 pages Plaintiffs opposition to Defendants' motion to dismiss: 25 pages
PURSUANT TO THE STIPULATION, IT IS SO ORDERED.