Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-casd-3_16-cv-02832/USCOURTS-casd-3_16-cv-02832-0/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:0078m(a) Securities Exchange Act

---

1

3:16-cv-02832-GPC-MDD

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

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF CALIFORNIA

BRENDAN TAN WEI JIE, Individually 

and on behalf of all others similarly 

situated,

Plaintiff,

v.

LIGAND PHARMACEUTICALS 

INCORPORATED, JOHN L. HIGGINS, 

and MATTHEW KORENBERG,

Defendants.

Case No.: 3:16-cv-02832-GPC-MDD

ORDER:

(1) APPOINTING JOHN TRAINA AS 

LEAD PLAINTIFF

AND 

(2) APPOINTING THE ROSEN LAW 

FIRM, P.A. AS LEAD COUNSEL 

FOR LEAD PLAINTIFF AND THE 

CLASS 

[ECF No. 3.]

Before the Court is John Traina’s (“Traina’s” or “Movant’s”) motion: (1) to 

appoint Movant as Lead Plaintiff for all persons other than Defendants who purchased or 

otherwise acquired the securities of Ligand Pharmaceuticals Incorporated (“Ligand” or 

the “Company”) between November 9, 2015 and November 14, 2016, inclusive (the 

“Class Period”), to recover damages caused by Defendants’ alleged violations of the 

federal securities laws (the “Class”); and (2) to appoint The Rosen Law Firm, P.A. as 

Case 3:16-cv-02832-GPC-MDD Document 11 Filed 03/29/17 PageID.<pageID> Page 1 of 3
2

3:16-cv-02832-GPC-MDD

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 Counsel for the Class. (Dkt. No. 3-2 at 2.)1 Defendants do not oppose the motion. 

(Dkt. No. 10.) The Court finds the motion suitable for disposition without oral argument 

pursuant to Civil Local Rule 7.1(d)(1). Upon review of the moving papers and applicable 

law, and for the reasons set below, the Court GRANTS Movant’s unopposed motion.

WHEREAS, the above-captioned securities class action has been filed against 

Ligand Pharmaceuticals Incorporated, et al. (collectively, “Defendants”), alleging claims 

under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 

promulgated thereunder;

WHEREAS, pursuant to the Private Securities Litigation Reform Act of 1995 

(“PSLRA”), 15 U.S.C. § 78u-4(a)(3)(A)(i), on November 17, 2016, Plaintiff in the 

above-captioned action caused notice to be issued to potential class members of the 

action and informed them of their right to move to serve as Lead Plaintiff within 60 days 

of the date of the issuance of said notice;

WHEREAS, on January 17, 2017, John Traina (“Movant”) timely moved the Court 

for appointment as lead plaintiff and to approve his selection of counsel;

WHEREAS, the PSLRA, provides, inter alia, that the most-adequate plaintiff to 

serve as Lead Plaintiff is the person or group of persons that has either filed a complaint 

or has made a motion in response to a notice, and has the largest financial interest in the 

relief sought by the Class and satisfies the pertinent requirements of Fed. R. Civ. P. 23;

WHEREAS, 15 U.S.C. § 78u-4(a)(3)(B) provides, inter alia, that as soon as 

practicable after the decision on consolidation is rendered, the Court shall appoint the 

most adequate plaintiff as Lead Plaintiff for the consolidated actions;

WHEREAS, the Court finding that Movant has the largest financial interest in this 

action and prima facie satisfies the typicality and adequacy requirements of Fed. R. Civ. 

P. 23. See 15 U.S.C. § 78u-4(a)(3)(B)(iii)(I); 

 

1 All citations to the record refer to the pagination generated by the CM/ECF system.

Case 3:16-cv-02832-GPC-MDD Document 11 Filed 03/29/17 PageID.<pageID> Page 2 of 3
3

3:16-cv-02832-GPC-MDD

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

IT IS HEREBY ORDERED THAT:

1. Pursuant to Section 21D(a)(3)(B) of the Exchange Act, 15 U.S.C. §78u-4(a)(3)(B), 

Movant is appointed as Lead Plaintiff of the Class, as Movant has the largest financial 

interest in this litigation and otherwise satisfies the requirements of Fed. R. Civ. P. 23. 

2. Movant’s choice of counsel is approved, and accordingly, The Rosen Law Firm, 

P.A. is appointed as Lead Counsel.

3. Lead Counsel, after being appointed by the Court, shall manage the prosecution of 

this litigation. Lead Counsel is to avoid duplicative or unproductive activities and is

hereby vested by the Court with the responsibilities that include, without limitation, the 

following: (1) to prepare all pleadings; (2) to direct and coordinate the briefing and 

arguing of motions in accordance with the schedules set by the orders and rules of this 

Court; (3) to initiate and direct discovery; (4) prepare the case for trial; and (5) to engage 

in settlement negotiations on behalf of Lead Plaintiff and the Class.

IT IS SO ORDERED.

Dated: March 29, 2017

Case 3:16-cv-02832-GPC-MDD Document 11 Filed 03/29/17 PageID.<pageID> Page 3 of 3