Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-5_15-cv-05068/USCOURTS-cand-5_15-cv-05068-0/pdf.json

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

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STIPULATION AND [PROPOSED] ORDER EXTENDING TIME TO RESPOND TO COMPLAINTS 

3:15CV4981-WHO 

Sara B. Brody, SBN 130222 

sbrody@sidley.com

Jaime A. Bartlett, SBN 251825 

jbartlett@sidley.com 

Sarah A. Hemmendinger, SBN 298659 

shemmendinger@sidley.com 

SIDLEY AUSTIN LLP 

555 California Street, Suite 2000 

San Francisco, California 94104 

Telephone: (415) 772-1200 

Facsimile: (415) 772-7400 

Norman J. Blears, SBN 95600 

nblears@sidley.com

SIDLEY AUSTIN LLP 

1001 Page Mill Road, Building 1 

Palo Alto, California 94304 

Telephone: (650) 565-7000 

Facsimile: (650) 565-7100 

Attorneys for Defendants 

TerraForm Global, Inc., SunEdison, Inc., Ahmad Chatila, Carlos 

Domenech Zornoza, Jeremy Avenier, Martin Truong, Brian Wuebbels 

[Additional counsel appear on signature page.]

UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF CALIFORNIA 

JUAN M. RODRIGUEZ BELTRAN, 

Individually and on Behalf of All Others 

Similarly Situated, 

Plaintiff, 

v.

TERRAFORM GLOBAL, INC., et al., 

Defendants.

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Case No. 3:15-cv-04981-WHO 

STIPULATION AND [PROPOSED] 

ORDER EXTENDING TIME FOR 

DEFENDANTS TO RESPOND TO THE 

COMPLAINTS 

PYRAMID HOLDINGS, INC., Individually and 

on Behalf of All Others Similarly Situated, 

Plaintiff, 

v.

TERRAFORM GLOBAL, INC., et al., 

Defendants.

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Case No. 3:15-cv-05068-RS 

Case 5:15-cv-05068-BLF Document 41 Filed 01/11/16 Page 1 of 5
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STIPULATION AND [PROPOSED] ORDER EXTENDING TIME TO RESPOND TO COMPLAINTS 

3:15CV4981-WHO 

Plaintiff Juan M. Rodriguez Beltran, individually and on behalf of all others similarly 

situated, and Plaintiff Pyramid Holdings, Inc., individually and on behalf of all others similarly 

situated, by through their undersigned counsel, (“Plaintiffs”), and Defendants TerraForm Global, 

Inc., SunEdison, Inc., Ahmad Chatila, Carlos Domenech Zornoza, Jeremy Avenier, Martin 

Truong, Brian Wuebbels, J.P. Morgan Securities LLC., Barclays Capital Inc., Citigroup Global 

Markets Inc Morgan Stanley & Co. LLC, Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & 

Smith Incorporated, Deutsche Bank Securities Inc., BTG Pactual US Capital LLC, Itaú BBA 

Securities, Inc., SMBC Nikko Securities America, Inc., SG Americas Securities, LLC, and Kotak 

Mahindra, Inc. (“Defendants”), by and through their undersigned counsel, hereby stipulate and 

agree as follows: 

WHEREAS, on October 29, 2015, Juan M. Rodriguez Beltran, individually and on behalf 

of all others similarly situated, filed a class action complaint captioned Beltran v. TerraForm 

Global et al., Case No. 3:15-cv-04981-WHO (the “Beltran Action”) against the Defendants 

alleging violations of the federal securities laws; 

WHEREAS, on October 29, 2015, pursuant to 15 U.S.C. § 77z-1(a)(3)(A)(i), Plaintiff 

Beltran caused a notice to be published on Businesswire, a “widely circulated national businessoriented wire service,” advising members of the purported class of, inter alia: (1) the pendency of 

the action; (2) the claims asserted therein; (3) the purported class period; and (4) that, not later than 

60 days after the date on which the notice was published, any member of the purported class had 

the right to move the Court to serve as Lead Plaintiff of the class; 

WHEREAS, on November 5, 2015, Pyramid Holdings, Inc., individually and on behalf of 

all others similarly situated, filed a class action complaint captioned Pyramid Holdings v. 

TerraForm Global, Inc. et al., 3:15-cv-05068-RS (the “Pyramid Holdings Action”) against the 

Defendants alleging violations of the federal securities laws; 

WHEREAS, the Beltran Action and the Pyramid Holdings Action are class actions brought 

against the same defendants, alleging the same violations of federal securities law in connection 

with TerraForm Global’s IPO, and proceeding before different judges would likely lead to an 

unduly burdensome duplication of labor and expense, and cause the potential for conflicting 

Case 5:15-cv-05068-BLF Document 41 Filed 01/11/16 Page 2 of 5
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STIPULATION AND [PROPOSED] ORDER EXTENDING TIME TO RESPOND TO COMPLAINTS 

3:15CV4981-WHO 

results; 

WHEREAS, the parties recognize that pursuant to Civil Local Rule 3-12, these actions are 

related and should be so marked, and agree that Defendants will prepare the appropriate Joint 

Administrative Motion to Consider Whether Cases Should be Related;

WHEREAS, the Court in the Beltran Action and the Pyramid Holdings Action has issued 

Scheduling Orders which set certain different deadlines, including for ADR filings, Initial Case 

Management Conferences, and Initial Disclosures in each case; 

WHEREAS, pursuant to 15 U.S.C. § 77z-1(a)(3)(B) the Court must appoint a Lead 

Plaintiff; 

WHEREAS, on December 28, 2015 certain class members moved for appointment as Lead 

Plaintiff and lead counsel; 

WHEREAS, the parties agree that, in light of the pending motions for appointment as Lead 

Plaintiff and lead counsel, and in the interests of judicial economy and the preservation of the 

Court’s and the parties’ resources, Defendants need not respond to the pending Complaints; 

WHEREAS, the parties agree that, in light of the pending motions for appointment as Lead 

Plaintiff and lead counsel and the anticipated Administrative Motion to Consider Whether Cases 

Should be Related, and in the interests of judicial economy and the preservation of the Court’s and 

the parties’ resources, the deadlines set in the Scheduling Orders should be vacated and new dates 

set after the cases are related and consolidated; 

NOW, THEREFORE, it is hereby stipulated as follows: 

1. These related actions shall be consolidated pursuant to the Court’s process; 

2. Deadlines set in the Court’s Scheduling Orders shall be vacated and re-set 

following consolidation; 

3. Defendants shall not be required to move or otherwise respond to the Complaints 

filed in the Beltran Action or the Pyramid Holdings Action until after the 

appointment of a Lead Plaintiff pursuant to 15 U.S.C. § 77z-1(a)(3) and after the 

filing by such Lead Plaintiff of a Consolidated complaint. Pursuant to L.R. 6-1(a), 

this paragraph shall be effective upon the filing of this Stipulation with the Court; 

Case 5:15-cv-05068-BLF Document 41 Filed 01/11/16 Page 3 of 5
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STIPULATION AND [PROPOSED] ORDER EXTENDING TIME TO RESPOND TO COMPLAINTS 

3:15CV4981-WHO 

4. Following the appointment of a Lead Plaintiff, the parties shall submit to the Court 

a proposed schedule for the filing of a Consolidated complaint and the filing and 

briefing of any motion to dismiss; and 

5. This Stipulation is entered into without prejudice to any party seeking any interim 

relief.

Dated: January 8, 2016 SIDLEY AUSTIN LLP 

By: /s/ Sara B. Brody 

Sara B. Brody 

Attorneys for Defendants 

TerraForm Global, Inc., SunEdison, Inc., 

Ahmad Chatila, Carlos Domenech Zornoza, 

Jeremy Avenier, Martin Truong, Brian 

Wuebbels

Dated: January 8, 2016 SHEARMAN & STERLING LLP 

By: /s/ Stephen D. Hibbard 

Stephen D. Hibbard 

Attorneys for Defendants J.P. Morgan 

Securities LLC., Barclays Capital Inc., 

Citigroup Global Markets Inc., Morgan 

Stanley & Co. LLC, Goldman, Sachs & Co., 

Merrill Lynch, Pierce, Fenner & Smith 

Incorporated, Deutsche Bank Securities Inc., 

BTG Pactual US Capital LLC, Itaú BBA 

USA Securities, Inc., SMBC Nikko Securities 

America, Inc., SG Americas Securities, LLC, 

and Kotak Mahindra, Inc.

Dated: January 8, 2016 SCOTT + SCOTT, LLP 

By: /s/ Thomas L. Laughlin 

Thomas L. Laughlin 

Attorneys for Plaintiff Juan M. Rodriguez 

Beltran

Case 5:15-cv-05068-BLF Document 41 Filed 01/11/16 Page 4 of 5
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STIPULATION AND [PROPOSED] ORDER EXTENDING TIME TO RESPOND TO COMPLAINTS 

3:15CV4981-WHO 

Dated: January 8, 2016 ABRAHAM, FRUCHTER & TWERSKY, LLP

By: /s/ Ian D. Berg

Ian D. Berg

Attorneys for Plaintiff Pyramid Holdings, Inc.

SIGNATURE ATTESTATION 

I am the ECF User whose identification and password are being used to file the foregoing 

Stipulation and [Proposed] Order Extending Time for Defendants to Respond to the Complaints. In 

compliance with Local Rule 5-1(i)(3), I hereby attest that the other signatories have concurred in this 

filing.

Dated: January 8, 2016 SIDLEY AUSTIN LLP 

By: /s/ Sara B. Brody 

Sara B. Brody 

Attorneys for Defendants 

TerraForm Global, Inc., SunEdison, Inc., 

Ahmad Chatila, Carlos Domenech Zornoza, 

Jeremy Avenier, Martin Truong, Brian 

Wuebbels

PURSUANT TO STIPULATION, IT IS SO ORDERED. 

Dated: ______________ 

Honorable Richard Seeborg 

United States District Judge 

1/11/16

Case 5:15-cv-05068-BLF Document 41 Filed 01/11/16 Page 5 of 5