Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_12-cv-04061/USCOURTS-cand-3_12-cv-04061-17/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
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 STIPULATION AND [PROPOSED] ORDER Case No. 3:12-cv-04061-RS 

TO STAY DEFENDANT SHI’S TIME TO 

ANSWER SAC AND ADJOURN CMC 

Steven J. Toll 

Daniel S. Sommers (admitted pro hac vice) 

Elizabeth Aniskevich 

COHEN MILSTEIN SELLERS & TOLL PLLC 

1100 New York Avenue, N.W. 

East Tower, Suite 500 

Washington, D.C. 20005 

Telephone: (202) 408-4600 

Fax: (202) 408-4699 

Patrick V. Dahlstrom (admitted pro hac vice) 

Joshua B. Silverman (admitted pro hac vice) 

Louis C. Ludwig (admitted pro hac vice) 

POMERANTZ LLP 

10 South LaSalle St., Suite 3505 

Chicago, Illinois 60603 

Telephone: (312) 377-1181 

Fax: (312) 377-1184 

Co-Lead Counsel for Lead Plaintiffs James 

Bachesta, Thanh Le and Chen Weifeng 

[Additional counsel listed on signature page] 

UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF CALIFORNIA 

SAN FRANCISCO DIVISION 

SCOTT BRUCE, Individually and on Behalf of 

All Others Similarly Situated, 

Plaintiff, 

v. 

SUNTECH POWER HOLDINGS CO., LTD. 

and ZHENGRONG SHI, 

Defendants. 

 Case No. 3:12-cv-04061-RS 

STIPULATION AND [PROPOSED] 

ORDER TO STAY DEFENDANT 

ZHENGRONG SHI’S TIME TO 

ANSWER THE CONSOLIDATED 

SECOND AMENDED CLASS ACTION 

COMPLAINT AND TO ADJOURN THE 

INITIAL CASE MANAGEMENT 

CONFERENCE 

Judge: Hon. Richard Seeborg 

Case 3:12-cv-04061-RS Document 147 Filed 08/21/15 Page 1 of 5
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 STIPULATION AND [PROPOSED] ORDER Case No. 3:12-cv-04061-RS 

TO STAY DEFENDANT SHI’S TIME TO 

ANSWER SAC AND ADJOURN CMC 

 1 

Pursuant to Civil Local Rules 6-2 and 7-12, lead plaintiffs James Bachesta, Thanh Le, and 

Chen Weifeng (collectively, the “Lead Plaintiffs”) and defendant Zhengrong Shi (“Dr. Shi”) 

(together with the Lead Plaintiffs, the “Parties”), by and through their counsel, hereby agree and 

stipulate that good cause exists to request an order from the Court staying Dr. Shi’s time to answer 

the Consolidated Second Amended Class Action Complaint (the “SAC”) and adjourning the Initial 

Case Management Conference. 

WHEREAS, on August 1, 2014, the Court issued a Clerk’s Notice (Dkt. No. 117) setting 

the Initial Case Management Conference for October 2, 2014; 

WHEREAS, on August 12, 2014, the Court issued an Order (Dkt. No. 119) denying Dr. 

Shi’s Motion to Dismiss the SAC filed by Lead Plaintiffs, and ordered Dr. Shi to “file an answer 

within twenty days;” 

WHEREAS, on August 22, 2014, the Court issued an Order (Dkt. No. 122) extending Dr. 

Shi’s time to answer the SAC to September 30, 2014; 

WHEREAS, on September 11, 2014, the Parties filed a Stipulation and Proposed Order 

informing the Court they would attempt to resolve this action through private mediation (Dkt. No. 

124); 

WHEREAS, on December 2, 2014, the Court entered an Order extending the deadline for 

the Parties to engage in mediation to February 24, 2015, and in light of the Parties’ agreement to 

mediate and at the Parties’ request, the Court issued an Order extending Dr. Shi’s time to answer 

the SAC to March 27, 2015 and rescheduling the Initial Case Management Conference for April 9, 

2015 “[u]nless the Parties advise the Court that the case has been resolved” (Dkt. No 131); 

WHEREAS, on February 24, 2015, the Parties participated in private mediation before the 

Honorable Layn R. Phillips (Ret.) which resulted in a mediator’s proposal to settle this action 

pursuant to a term sheet negotiated by the Parties during the mediation; 

WHEREAS, on March 11, 2015, the Parties accepted the mediator’s proposal pursuant to 

the terms reflected in the term sheet and agreed (subject to the contingencies set forth by the 

Parties) to a settlement that would fully resolve this action; 

Case 3:12-cv-04061-RS Document 147 Filed 08/21/15 Page 2 of 5
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 STIPULATION AND [PROPOSED] ORDER Case No. 3:12-cv-04061-RS 

TO STAY DEFENDANT SHI’S TIME TO 

ANSWER SAC AND ADJOURN CMC 

 2 

WHEREAS, on April 3, 2015, the Court entered an Order granting the Parties’ request to 

adjourn the Initial Case Management Conference scheduled for April 9, 2015 given the Parties’ 

agreement to settle this action (Dkt. No. 135); 

WHEREAS, on May 21, 2015, the Court issued a Clerk’s Notice further adjourning the 

Initial Case Management Conference scheduled for May 28, 2015 until July 2, 2015 (Dkt. No. 

139); 

WHEREAS, on June 25, 2015, the Parties submitted a Joint Case Management Statement 

for the Initial Case Management Conference scheduled for July 2, 2015 (Dkt. No. 140); 

WHEREAS, on June 25, 2015, the Court issued a Clerk’s Notice further adjourning the 

Initial Case Management Conference scheduled for July 2, 2015 until August 27, 2015 (Dkt. No. 

142); 

WHEREAS the Parties executed a stipulation of settlement on August 14, 2015 and Lead 

Plaintiffs filed a Motion for Preliminary Approval of Class Action Settlement and a Memorandum 

of Points and Authorities in Support with the Court on August 18, 2015 (Dkt. No. 144); 

WHEREAS the Parties believe that, in light of their agreement to settle this action in its 

entirety and in order to avoid the needless waste of the Court’s and the Parties’ resources, it would 

be prudent to stay Dr. Shi’s time to answer the SAC and adjourn the Initial Case Management 

Conference until after the Court’s resolution of settlement approval proceedings. If the Initial 

Case Management Conference is not adjourned, the Parties’ respectfully refer the Court to their 

Joint Case Management Statement filed on June 25, 2015 (Dkt. No. 140). 

Accordingly, IT IS HEREBY STIPULATED AND AGREED, by the Parties, through their 

undersigned counsel, subject to this Court’s approval, as follows: 

1. Dr. Shi’s time to answer the SAC is hereby stayed pending the Court’s resolution 

of settlement approval proceedings. In the event the settlement approval proceedings do not result 

in the complete resolution of this action, Dr. Shi shall be required to answer the SAC on a date 

ordered by the Court. 

2. The Initial Case Management Conference set for August 27, 2015 is adjourned 

Case 3:12-cv-04061-RS Document 147 Filed 08/21/15 Page 3 of 5
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 STIPULATION AND [PROPOSED] ORDER Case No. 3:12-cv-04061-RS 

TO STAY DEFENDANT SHI’S TIME TO 

ANSWER SAC AND ADJOURN CMC 

 3 

pending the outcome of settlement approval proceedings. In the event the settlement approval 

proceedings do not result in the complete resolution of this action, the Initial Case Management 

Conference shall occur on a date ordered by the Court. The Parties shall file an updated Joint 

Case Management Statement at least one week prior to the Initial Case Management Conference. 

3. This Stipulation is entered into without prejudice to any Party seeking any interim 

relief. 

4. Nothing in this Stipulation shall be construed as a waiver of the Parties’ rights in 

law or equity, or as a waiver of any defenses or claims that the Parties would otherwise have. 

5. The Initial Case Management Conference and related deadlines have been 

continued eleven times while motions to dismiss were pending, while the Parties were engaged in 

private mediation, and while the Parties were executing the stipulation of settlement and drafting 

preliminary approval papers. 

6. The Parties do not seek to stay or adjourn the dates set forth herein for the purpose 

of delay, and a stay and adjournment will not have an effect on any pre-trial or trial dates because 

the Court has yet to schedule these dates. 

August 20, 2015 COHEN MILSTEIN SELLERS &TOLL PLLC /s/ Daniel S. Sommers_____ 

Steven J. Toll 

Daniel S. Sommers (admitted pro hac vice) 

Elizabeth Aniskevich 

1100 New York Avenue, N.W. 

East Tower, Suite 500 

Washington, D.C. 20005 

Telephone: (202) 408-4600 

Fax: (202) 408-4699 

POMERANTZ LLP 

Patrick V. Dahlstrom (admitted pro hac vice) 

Joshua B. Silverman (admitted pro hac vice) 

Louis C. Ludwig (admitted pro hac vice) 

10 South LaSalle St., Suite 3505 

Chicago, Illinois 60603 

Telephone: (312) 377-1181 

Fax: (312) 377-1184 

Email: pdahlstrom@pomlaw.com 

Case 3:12-cv-04061-RS Document 147 Filed 08/21/15 Page 4 of 5
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 STIPULATION AND [PROPOSED] ORDER Case No. 3:12-cv-04061-RS 

TO STAY DEFENDANT SHI’S TIME TO 

ANSWER SAC AND ADJOURN CMC 

 4 

Co-Lead Counsel for Lead Plaintiffs James Bachesta, 

Thanh Le and Chen Weifeng 

GLANCY PRONGAY & MURRAY LLP 

 Lionel Z. Glancy 

 Robert V. Prongay 

1925 Century Park East, Suite 2100 

Los Angeles, California 90067 

Telephone: (310) 201-9150 

Facsimile: (310) 201-9160 

Liaison Counsel for Lead Plaintiffs James Bachesta, 

Thanh Le and Chen Weifeng 

 SHEARMAN & STERLING LLP 

 By: /s/ Jerome S. Fortinksy______

 Jerome S. Fortinsky (admitted pro hac vice)

 H. Miriam Farber (admitted pro hac vice) 

599 Lexington Avenue 

 New York, NY 10022 

 Telephone: (212) 848-4000 

 Fax: (212) 848-7179 

 Email: jfortinsky@shearman.com 

 mfarber@shearman.com 

 SHEARMAN & STERLING LLP 

 Stephen D. Hibbard 

 Four Embarcadero Center, Suite 3800 

 San Francisco, CA 94111 

 Telephone: (415) 616-1100 

 Fax: (415) 616-1199 

 Email: shibbard@shearman.com 

Attorneys for Defendant Zhengrong Shi 

PURSUANT TO STIPULATION, IT IS SO ORDERED. 

DATED: August __, 2015 

 ______________________________ 

 Hon. Richard Seeborg 

 United States District Judge 

21

Case 3:12-cv-04061-RS Document 147 Filed 08/21/15 Page 5 of 5