Opinion
CASE NO. 2:10-cv-02483-GEB-CMK
01-17-2012
MVP ASSET MANAGEMENT (USA) LLC, a Delaware Limited Liability Company, Plaintiff, v. STEVEN VESTBIRK, et al., Defendants.
SULLIVAN JOHNSON LLP DANIEL M. SULLIVAN (SBN 132878) DANIEL A. JOHNSON (SBN 130724) Attorneys for Plaintiff MVP ASSET MANAGEMENT (USA) LLC GEORGE L. O'CONNELL (SBN 74037) TODD M. NOONAN (SBN 172962) DLA PIPER LLP (US) Attorneys for Specially Appearing Defendants
SULLIVAN JOHNSON LLP
DANIEL M. SULLIVAN (SBN 132878)
DANIEL A. JOHNSON (SBN 130724)
Attorneys for Plaintiff
MVP ASSET MANAGEMENT (USA) LLC
GEORGE L. O'CONNELL (SBN 74037)
TODD M. NOONAN (SBN 172962)
DLA PIPER LLP (US)
Attorneys for Specially
Appearing Defendants
[listed on signature page]
STIPULATION AND [PROPOSED] ORDER TO (1) TEMPORARILY STAY ACTION; AND (2) CONTINUE STATUS (PRETRIAL SCHEDULING) CONFERENCE
Date: January 30, 2012
Dept: Courtroom 10
Judge: Honorable Garland E. Burrell, Jr.
1. WHEREAS, on October 28, 2011, the Court issued an Order setting a Status (Pretrial Scheduling) Conference for January 30, 2012, and requiring the parties to submit a Joint Report in connection therewith.
2. WHEREAS, on January 6, 2012, the Court signed an Order granting the motion of certain Specially Appearing Defendants to dismiss Plaintiffs Second Amended Complaint in this action and granting Plaintiff leave to file a Third Amended Complaint on or before January 17, 2012.
3. WHEREAS, Plaintiff filed its Third Amended Complaint on January 16, 2012, which Third Amended Complaint includes claims under the federal securities laws.
4. WHEREAS, if called upon to respond, Specially Appearing Defendants have determined that they would file a motion (or motions) to dismiss the Third Amended Complaint on various grounds.
5. WHEREAS, under PLSRA (15 U.S.C. § 78u-4(b)(3)) "all discovery and other proceedings" in this matter would remain stayed pending resolution of Specially Appearing Defendants' motions to dismiss.
6. WHEREAS, no trial date or other case management dates have yet been set in this matter.
7. WHEREAS, the Parties through their Counsel of Record have also met and conferred concerning case management issues, including potential opportunities to resolve the action, and have agreed to request that the Court temporarily stay the action, including with respect to any response to the Third Amended Complaint, to allow the Parties to pursue settlement efforts while conserving the resources of the Parties and the Court.
NOW, THEREFORE, the Parties through their Counsel of Record, stipulate as follows:
1. That Specially Appearing Defendants are not making a general appearance through the filing of this Stipulation;
2. That, upon entry of the Order by the Court, the action will be STAYED for 90 days;
3. That, during the pendency of the stay, no response to the Third Amended Complaint need be filed;
4. That the briefing schedule established with respect to Specially Appearing Defendant Vestbirk in the Stipulation and Order approved by the Court on September 14, 2011 (Dkt. No. 103) is vacated;
5. That, absent further stipulation of the parties and/or order from the Court, Specially Appearing Defendants' response to the Third Amended Complaint shall be filed and served no later than 20 days after the expiration of the stay.
6. That, the Status (Pretrial Scheduling) Conference, presently set for January 30, 2012, be continued approximately 120 days to a date available to the Court in or about June 2012.
IT IS SO STIPULATED.
SULLIVAN JOHNSON LLP
By ___________________________
DANIEL A. JOHNSON
Attorneys for Plaintiff
MVP ASSET MANAGEMENT (USA) LLC
DLA PIPER LLP (US)
By ___________________________
TODD M. NOONAN
Attorneys for Specially Appearing Defendants
STEVEN VESTBIRK, JEFF BALLIET,
ALLISON HANSLIK, ARK ROYAL ASSET
MANAGEMENT, LTD.; VESTBIRK
CAPITAL MANAGEMENT, LTD.; ARK
ROYAL ASSET MANAGEMENT, LLC; ARK
DISCOVERY, LLC; ARK ROYAL
HOLDINGS, LLC; ARK ROYAL SERVICES,
LLC; ARK ROYAL CAPITAL, LLC; ARK
ROYAL CAPITAL FUNDING, LLC; ARK
ROYAL CAPITAL, INC.; ARK ROYAL
RESOURCES, LLC; ARK ROYAL
ASSURANCE LLC; ARK ROYAL
INVESTMENTS, LLC
ORDER
Based upon the stipulation of the parties as set forth herein, the Court ORDERS as follows:
1. The action is STAYED in its entirety for 90 days from the date of entry of this Order.
2. Specially Appearing Defendants' response to the Third Amended Complaint shall be filed and served no later than 20 days after the expiration of the stay, absent further order from the Court.
3. The Status (Pretrial Scheduling) Conference, presently set for January 30, 2012, is continued to June 25, 2012, at 9:00 a.m. A joint status report shall be filed fourteen days prior to the hearing.
IT IS SO ORDERED.
___________________________
GARLAND E. BURRELL, JR.
United States District Judge