Opinion
C17-1146-MLP
03-29-2023
BALKRISHNA SETTY, et al., Plaintiffs, v. SHRINIVAS SUGANDHALAYA LLP, et al., Defendants.
ORDER
MICHELLE L. PETERSON, UNITED STATES MAGISTRATE JUDGE.
On January 25, 2023, the parties notified the Court of a global settlement in principle resolving all claims in this action as well as “certain disputes pending in arbitration and/or in the courts of India.” (Dkt. # 122 at 1.) The parties represented that the settlement depended on “one or more parties taking steps that may require several weeks to complete.” (Id.) Based on the parties' stipulation, the Court ordered all deadlines stayed for 60 days, after which time the parties would file a stipulation of dismissal with prejudice or a status update “with a proposed schedule for all pre-trial deadlines.” (Id.)
On March 27, 2023, the parties filed a status report requesting an additional 60 days for the parties to take “steps that may require several more weeks to complete.” (Dkt. # 123 at 2.) Such steps include “changes to certain corporate documents in India and associated filings that must be made with the appropriate regulatory body in India.” (Id.) The parties agree that the entities responsible for these steps “have made and continue to make good faith efforts” to complete them. (Id.) The parties state that within 60 days they will file either a stipulation of dismissal or a notification that they require additional time. (Id.)
The Court GRANTS the parties' request for additional time. Within 60 days from the date this order is signed, the parties must either: (1) file a stipulation of dismissal; or (2) provide a detailed explanation of what steps remain before settlement can be perfected and how long such steps are expected to take.