Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_16-cv-03072/USCOURTS-cand-3_16-cv-03072-1/pdf.json

Nature of Suit Code: 160
Nature of Suit: Stockholder's Suits
Cause of Action: 15:78m(a) Securities Exchange Act

---

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

STIP. TO EXTEND TIME TO RESPOND Case No. 16-CV-3072-JCS

FENWICK & WEST LLP

ATTORNEYS AT LAW

SAN FRANCISCO 

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

BART STADNICKI, Derivatively and on 

Behalf of Nominal Defendant LENDINGCLUB 

CORPORATION,

Plaintiff,

v.

RENAUD LAPLANCHE, et al., 

Defendants,

- and -

LENDINGCLUB CORPORATION, a 

Delaware corporation,

Nominal Defendant.

Case No. 16-CV-3072-JCS

STIPULATION TO EXTEND TIME TO 

RESPOND 

(Civil L.R. 6-1(a))

KEVIN P. MUCK (CSB No. 120918)

kmuck@fenwick.com SEBASTIAN E. KAPLAN (CSB No. 248206)

skaplan@fenwick.com 

DIANA CHANG (CSB No. 287624)

dchang@fenwick.com 

FENWICK & WEST LLP

555 California Street, 12th Floor

San Francisco, CA 94104

Telephone: 415.875.2300

Facsimile: 415.281.1350

JAY L. POMERANTZ (CSB No. 209869)

jpomerantz@fenwick.com 

CARLY BITTMAN (CSB No. 305513)

cbittman@fenwick.com

FENWICK & WEST LLP

Silicon Valley Center

801 California Street

Mountain View, CA 94041

Telephone: 650.988.8500

Facsimile: 650.938.5200

Attorneys for Defendants

Case 3:16-cv-03072-WHA Document 21 Filed 07/21/16 Page 1 of 4
1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

STIP. TO EXTEND TIME TO RESPOND 1 Case No. 16-CV-3072-JCS

FENWICK & WEST LLP

ATTORNEYS AT LAW

SAN FRANCISCO 

WHEREAS, on May 16, 2016 and May 18, 2016, respectively, two putative class action 

complaints were filed in this Court against LendingClub Corporation (“LendingClub”), Renaud 

Laplanche and Carrie L. Dolan: Evellard v. LendingClub, et al., 16-CV-2627-WHA, and Wertz v. 

LendingClub, et al., 16-CV-2670-WHA (together, the “Class Actions”);

WHEREAS, on June 6, 2016, plaintiff in the above-captioned action (“Plaintiff”) filed a 

putative derivative action (“Derivative Action”) against defendants Renaud Laplanche, Carrie L. 

Dolan, Scott Sanborn, Daniel T. Ciporin, Jeffrey Crowe, Rebecca Lynn, John J. Mack, Mary 

Meeker, John C. Morris, Lawrence H. Summers, Simon Williams, and Nominal Defendant 

LendingClub (collectively, “Defendants,” and with Plaintiff, the “Parties”); 

WHEREAS, on July 14, 2016, the parties in the Class Actions and Derivative Action 

entered into a Stipulation and [Proposed] Order to Relate Cases based on their belief that these 

actions are “related cases” within the meaning of Civil Local Rule 3-12; 

WHEREAS, the current deadline for defendants Carrie L. Dolan, Scott Sanborn, Daniel T. 

Ciporin, Jeffrey Crowe, Rebecca Lynn, John J. Mack, Mary Meeker, John C. Morris, Lawrence 

H. Summers, Simon Williams, and Nominal Defendant LendingClub to move, answer or 

otherwise respond to the complaint in the Derivative Action is August 12, 2016;

WHEREAS, the current deadline for defendant Renaud Laplanche to move, answer or 

otherwise respond to the complaint in the Derivative Action is August 15, 2016;

WHEREAS, a hearing on motions to be appointed lead plaintiff in the related Class 

Actions has been set for August 15, 2016;

WHEREAS, it is anticipated that the party appointed lead plaintiff in the related Class 

Actions will file a consolidated complaint pursuant to a schedule set by the Court;

WHEREAS, Plaintiff has agreed that no later than 30 days after the filing of the 

consolidated complaint in the related Class Actions, he will either file an amended derivative 

complaint or notify Defendants of his intention to proceed with the existing complaint; and

WHEREAS, the Parties have agreed that (a) no later than 30 days after Plaintiff has either 

filed an amended derivative complaint or notified Defendants of his intention to proceed with the 

existing complaint, LendingClub will file a motion to dismiss the Derivative Action for failure to 

Case 3:16-cv-03072-WHA Document 21 Filed 07/21/16 Page 2 of 4
1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

STIP. TO EXTEND TIME TO RESPOND 2 Case No. 16-CV-3072-JCS

FENWICK & WEST LLP

ATTORNEYS AT LAW

SAN FRANCISCO 

allege demand futility (“Demand Futility Motion”), and (b) none of the Defendants need to 

respond to the operative complaint pending resolution of the Demand Futility Motion.

IT IS ACCORDINGLY STIPULATED, pursuant to Civil L.R. 6-1(a), by and between the 

undersigned counsel for the parties, that:

1. No later than 30 days after the filing of the consolidated complaint in the related Class 

Actions, Plaintiff will either file an amended derivative complaint or notify 

Defendants of his intention to proceed with the existing complaint; 

2. No later than 30 days after Plaintiff has either filed an amended derivative complaint 

or notified Defendants of his intention to proceed with the existing complaint, 

LendingClub will file a motion to dismiss the Derivative Action for failure to allege 

demand futility (“Demand Futility Motion”); and 

3. None of the Defendants need to respond to the operative complaint pending resolution 

of the Demand Futility Motion.

Dated: July 20, 2016 JOHNSON & WEAVER, LLP

By /s/ Frank J. Johnson

 Frank J. Johnson

Attorneys for Plaintiff Bart Stadnicki

Dated: July 20, 2016 FENWICK & WEST LLP

By /s/ Jay L. Pomerantz

 Jay L. Pomerantz

Attorneys for Nominal Defendant

LendingClub Corporation and Defendants Carrie 

L. Dolan, Scott Sanborn, Daniel T. Ciporin, 

Jeffrey Crowe, Rebecca Lynn, John J. Mack, 

Mary Meeker, John C. Morris, Lawrence H. 

Summers and Simon Williams

Dated: 7/21/16

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

GRANTED

Judge Joseph C. Spero

Case 3:16-cv-03072-WHA Document 21 Filed 07/21/16 Page 3 of 4
1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

STIP. TO EXTEND TIME TO RESPOND 3 Case No. 16-CV-3072-JCS

FENWICK & WEST LLP

ATTORNEYS AT LAW

SAN FRANCISCO 

Dated: July 20, 2016 MILBANK, TWEED, HADLEY & MCCLOY 

LLP

By /s/ Robert Liubicic

 Robert Liubicic

Attorneys for Defendant Renaud Laplanche

***

ATTESTATION (CIVIL LOCAL RULE 5-1(i)(3))

In accordance with Civil Local Rule 5-1(i)(3), I attest that concurrence in the filing of this 

document has been obtained from the signatory.

Dated: July 20, 2016 /s/ Jay L. Pomerantz

 Jay L. Pomerantz

Case 3:16-cv-03072-WHA Document 21 Filed 07/21/16 Page 4 of 4