Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_12-cv-04007/USCOURTS-cand-3_12-cv-04007-19/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:77 Securities Fraud

---

[LEAD CASE NO. 12-CV-04007-JSC] STIPULATION AND [PROPOSED] ORDER MODIFYING THE 

SCHEDULE CONCERNING SETTLEMENT 

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

Joseph J. Tabacco, Jr. (SBN 75484) 

Nicole Lavallee (SBN 165755) 

Kristin J. Moody (SBN 206326) 

BERMAN DEVALERIO 

One California Street, Suite 900 

San Francisco, CA 94111 

Telephone: (415) 433-3200 

Facsimile: (415) 433-6282 

Email: jtabacco@bermandevalerio.com 

 nlavallee@bermandevalerio.com 

 kmoody@bermandevalerio.com 

 

Jeffrey M. Norton (Admitted Pro Hac Vice) 

NEWMAN FERRARA LLP

1250 Broadway, 27th Floor 

New York, NY 10001 

Telephone: (212) 619-5400 

Facsimile: (212) 619-3090 

Email: jnorton@nflp.com 

Lead Counsel and Attorneys for Lead Plaintiff David Fee 

UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF CALIFORNIA 

SAN FRANCISCO DIVISION 

IN RE ZYGNA INC. SECURITIES

LITIGATION 

 

Lead Case No.12-cv-04007-JSC

Consolidated with Case Nos. 

12-cv-4048-JSC; 12-cv-4059-JSC; 

12-cv-4064-JSC; 12-cv-4066-JSC; 

12-cv-4133-JSC; 12-cv-4250-JSC 

CLASS ACTION

STIPULATION AND [PROPOSED] 

ORDER MODIFYING THE 

SCHEDULE CONCERNING 

SETTLEMENT 

Ctrm: F, 15th Floor 

Judge: Hon. Magistrate Judge 

 Jacqueline Scott Corley 

Case 3:12-cv-04007-JSC Document 224 Filed 01/14/16 Page 1 of 7
[LEAD CASE NO. 12-CV-04007-JSC] STIPULATION AND [PROPOSED] ORDER MODIFYING THE 

SCHEDULE CONCERNING SETTLEMENT 1

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

Lead Plaintiff David Fee (“Lead Plaintiff”) and Defendants Zynga Inc. (“Zynga” or the 

“Company”), Mark Pincus, David M. Wehner and John Schappert (collectively “Defendants”), 

by and through their undersigned attorneys, submit this Stipulation seeking modification of the 

schedule for Settlement Class Members to submit claim forms, request exclusion from the 

Settlement, or object to the Settlement, Plan of Allocation, or request for attorneys’ fees and 

reimbursement of litigation expenses and rescheduling the Final Approval Hearing. 

Lead Plaintiff states the following: 

On October 27, 2015, this Court granted preliminary approval of the $23 million 

Settlement and approved the form, content and method of notice to the class (“Preliminary 

Approval Order”). Pursuant to the Preliminary Approval Order, the deadline for Settlement 

Class Members to submit claim forms, request exclusion from the Settlement, or object to the 

Settlement, Plan of Allocation, or request for attorneys’ fees and reimbursement of litigation 

expenses was January 12, 2016. The Court also set a final approval hearing for January 28, 

2016 at 9:00 a. m. 

The Court-appointed claims administrator, Epiq Systems, Inc. (“Epiq”), fully complied 

with the Court-approved notice plan. This included that on November 3, 2015, Epiq caused the 

Summary Notice to be published in Investor’s Business Daily. Also on November 3, 2015 Epiq 

mailed the Notice of Pendency of Class Action and Proposed Settlement, Final Approval 

Hearing, and Motion for Attorneys’ Fees and Reimbursement of Litigation Expenses (the 

“Notice”) and the Proof of Claim and Release (“Proof of Claim”) (together, the Notice and 

Proof of Claim are referred to herein as the “Notice Packet”) to known holders of Zynga 

common stock during the Settlement Class Period as well as to 1,625 common banks, brokers 

and other nominees (collectively “brokers”). The Notice directed such brokers who purchased 

or otherwise acquired Zynga common stock for the beneficial interest of a person or 

organization other than themselves to either (i) send a copy of the Notice Packet to the 

beneficial owner of such common stock, postmarked no later than 10 days after such nominees’ 

receipt of the Notice Packet, or (ii) provide to Epiq the names and addresses of such persons no 

later than 10 days after such nominees’ receipt of the Notice Packet. 

Case 3:12-cv-04007-JSC Document 224 Filed 01/14/16 Page 2 of 7
[LEAD CASE NO. 12-CV-04007-JSC] STIPULATION AND [PROPOSED] ORDER MODIFYING THE 

SCHEDULE CONCERNING SETTLEMENT 2

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

Most of these brokers complied with the request within or close to the deadline specified. 

However, despite continuous efforts by Epiq to ensure timely broker-compliance, including 

follow-up with brokers, certain brokers did not comply until within one month of or closer to the 

January 12, 2016 deadline. Epiq thereafter mailed Notice Packets to these names and addresses soon 

after they were received. Lead Counsel have generally observed an increase in such instances of 

brokers’ failure to comply in a timely manner in securities class action settlements. 

Specifically, here, Barclays Capital did not provide Epiq with its list of 1,200 names and 

addresses until December 17, 2015. Thereafter, on December 23, 2015, Epiq mailed Notice 

Packets to these names and addresses. Further, Wells Fargo Securities did not provide Epiq 

with its list of 96 names and addresses until December 18, 2015. Thereafter, on December 24, 

2015, Epiq mailed Notice Packets to these names and addresses. Additionally, Scottrade did 

not provide Epiq with its list of 32,732 names and addresses until December 28, 2015. 

Thereafter, on December 31, 2015, Epiq mailed Notice Packets to these names and addresses. 

Further, Charles Schwab did not provide Epiq with its list of 24,009 names and addresses until 

December 28, 2015. Thereafter, on January 5, 2016, Epiq mailed Notice Packets to these names 

and addresses. 

Lead Counsel was alerted by Epiq to these broker delays early in January and Lead 

Counsel discussed this with Epiq and received confirmation from Epiq that it did not anticipate 

receiving any additional large lists from brokers and that it had received names and addresses 

from the largest and most common brokers. 

Thereafter, however, Epiq received a list of 4 names and addresses from National 

Financial on January 6, 2016. On January 11, 2016, Epiq mailed Notice Packets to these names 

and addresses. Further, although Fidelity sent Epiq a list of 31,875 names and addresses on 

November 30, 2015 (and Epiq mailed Notice Packets to these names and addresses on 

December 4, 2015), Fidelity sent a supplement list of 3,701 names and addresses, received by 

Epiq on January 8, 2016. Thereafter, on January 12, 2016, Epiq mailed Notice Packets to these 

names and addresses. 

Case 3:12-cv-04007-JSC Document 224 Filed 01/14/16 Page 3 of 7
[LEAD CASE NO. 12-CV-04007-JSC] STIPULATION AND [PROPOSED] ORDER MODIFYING THE 

SCHEDULE CONCERNING SETTLEMENT 3

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

Thus, as a result of these events, certain Settlement Class Members may not have 

received their Notice Packets with sufficient time to respond. 

Lead Plaintiff’s and Defendants’ Stipulation: 

Lead Counsel and Defendants have met and conferred regarding the above delay. As 

such, Lead Plaintiff and Defendants request (1) an extension of the deadline for Settlement 

Class Members who were impacted by this delay to submit a claim, request exclusion or object; 

(2) an extension of the deadline for Lead Plaintiff’s reply brief and response to objections and 

proof of notice compliance; and (3) that the Final Approval Hearing be rescheduled. 

Additionally, Lead Counsel would have the settlement website home page updated to 

prominently inform all visitors of the new date for the Final Approval Hearing and that, as to 

Settlement Class Members affected by the delay, the claim submission, request for exclusion 

and objection deadlines have been extended. Lead Plaintiff and Defendants propose the 

following deadlines: 

ACTION DEADLINE 

Deadline to submit request for exclusion or 

objection for Settlement Class Members 

impacted by delay January 29, 2016 

Lead Plaintiffs’ reply brief in support of final 

approval and response to any objections and 

proof of notice compliance 

February 8, 2016 

Final Approval Hearing February 11, 2016, at 9:00 a.m. 

Deadline to submit Proof of Claim for 

Settlement Class Members impacted by 

delay 

March 11, 2016 

Update to settlement website to reflect 

revised deadlines and Final Approval 

Hearing date Upon Order of the Court 

Case 3:12-cv-04007-JSC Document 224 Filed 01/14/16 Page 4 of 7
[LEAD CASE NO. 12-CV-04007-JSC] STIPULATION AND [PROPOSED] ORDER MODIFYING THE 

SCHEDULE CONCERNING SETTLEMENT 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

DATED: January 14, 2016 Respectfully submitted, 

 BERMAN DEVALERIO

By: /s/ Nicole Lavallee Nicole Lavallee 

Joseph J. Tabacco, Jr. 

Kristin J. Moody 

One California Street, Suite 900 

San Francisco, CA 94111 

Telephone: (415) 433-3200 

Facsimile: (415) 433-6282 

Email: jtabacco@bermandevalerio.com 

 nlavallee@bermandevalerio.com 

 kmoody@bermandevalerio.com 

 

Jeffrey M. Norton 

NEWMAN FERRARA LLP 

1250 Broadway, 27th Floor 

New York, NY 10001 

Telephone: (212) 619-5400 

Facsimile: (212) 619-3090 

Email: jnorton@nfllp.com 

Lead Counsel and Attorneys for Lead Plaintiff 

David Fee 

MORRISON & FOERSTER LLP

By: /s/ Anna Erickson White Anna Erickson White 

Jordan Eth 

425 Market Street 

San Francisco, California 94105-2482 

Telephone: 415.268.7000 

Facsimile: 415.268.7522 

Email: JEth@mofo.com 

AWhite@mofo.com 

Attorneys for Defendants 

Zynga Inc., Mark Pincus, David M. Wehner, and 

John Schappert 

 

Case 3:12-cv-04007-JSC Document 224 Filed 01/14/16 Page 5 of 7
[LEAD CASE NO. 12-CV-04007-JSC] STIPULATION AND [PROPOSED] ORDER MODIFYING THE 

SCHEDULE CONCERNING SETTLEMENT 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

E-Filing Attestation 

 I, Nicole Lavallee, am the ECF User whose ID and password are being used to file this 

document. In compliance with Civil L.R. 5-1(i)(3), I hereby attest that Anna Erickson White 

has concurred in and authorized this filing. 

 /s/ Nicole Lavallee 

Nicole Lavallee 

 

Case 3:12-cv-04007-JSC Document 224 Filed 01/14/16 Page 6 of 7
[LEAD CASE NO. 12-CV-04007-JSC] STIPULATION AND [PROPOSED] ORDER MODIFYING THE 

SCHEDULE CONCERNING SETTLEMENT 6

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

[PROPOSED] ORDER 

Pursuant to the stipulation of the parties and good cause having been shown, IT IS 

HEREBY ORDERED that the following deadlines are hereby GRANTED: 

ACTION DEADLINE 

Deadline to submit request for exclusion or 

objection for Settlement Class Members 

impacted by delay January 29, 2016 

Lead Plaintiffs’ reply brief in support of final 

approval and response to any objections and 

proof of notice compliance 

February 8, 2016 

Final Approval Hearing February 11, 2016, at 9:00 a.m. 

Deadline to submit Proof of Claim for 

Settlement Class Members impacted by 

delay 

March 11, 2016 

Update to settlement website to reflect 

revised deadlines and Final Approval 

Hearing date 

Upon Order of the Court 

PURSUANT TO STIPULATION, IT IS SO ORDERED. 

DATED: ____________________________________ 

HON. JACQUELINE SCOTT CORLEY 

UNITED STATES MAGISTRATE JUDGE 

1/14/2016

Case 3:12-cv-04007-JSC Document 224 Filed 01/14/16 Page 7 of 7