Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_17-cv-06956/USCOURTS-cand-3_17-cv-06956-5/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:78m(a) Securities Exchange Act

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STIPULATION AND [PROPOSED] ORDER; Case No. 3:17-CV-06956 

Jennifer Pafiti (SBN 282790)

POMERANTZ LLP

468 North Camden Drive

Beverly Hills, CA 90210

Telephone: (818) 532-6499

E-mail: jpafiti@pomlaw.com

Attorney for Plaintiff

- additional counsel on signature page –

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

RONALD SGARLATA, Individually and on 

Behalf of All Others Similarly Situated,

Plaintiff,

v.

PAYPAL HOLDINGS, INC., DANIEL H. 

SCHULMAN, JOHN D. RAINEY JR., and 

HAMED SHAHBAZI, 

Defendants. 

Case No.: 3:17-cv-06956

STIPULATION AND [PROPOSED] 

ORDER

Date Action Filed: December 6, 2017

Case 3:17-cv-06956-EMC Document 52 Filed 04/06/18 Page 1 of 4
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STIPULATION AND [PROPOSED] ORDER; Case No. 3:17-CV-06956 

WHEREAS, the above-captioned action is a proposed class action alleging violations of 

the federal securities laws against PayPal Holdings, Inc. (“Paypal” or the “Company”), Daniel H. 

Schulman (“Schulman”), John D. Rainey Jr. (“Rainey”), and Hamed Shahbazi (“Shahbazi”)

(collectively, “Defendants”);

WHEREAS, this action is subject to the requirements of the Private Securities Litigation 

Reform Act of 1995, Pub. L. No. 104-67, 109 Stat. 737 (1995) (the “PSLRA”), which sets forth 

specialized procedures for the administration of securities class actions;

WHEREAS, on March 16, 2018, the Court entered an order appointing movants Michael 

Eckert and Edwin Bell as Interim Co-Lead Plaintiffs and approving their choices of Pomerantz 

LLP and The Rosen Law Firm, P.A. as Interim Co-lead Counsel (Dkt. No. 31);

WHEREAS, on March 30, 2018, the Court entered an order regarding the timing of the 

filing of an amended complaint and Defendants Paypal, Schulman, and Rainey’s response thereto 

(Dkt. No.41) (“Scheduling Order”);

WHEREAS, Shahbazi was not a party to the previously entered Scheduling Order and at 

the time of the filing of the previous stipulation, Interim Co-Lead Counsel was negotiating the 

issue of service of process with Shahbazi’s Canadian counsel; and 

WHEREAS, so that the schedule of Shahbazi’s response to an amended complaint is 

consistent with the schedule for PayPal, Schulman, and Rainey’s response;

IT IS ACCORDINGLY STIPULATED, by and between the undersigned counsel for the 

parties, that:

1. Pursuant to the Court’s Order dated March 30, 2018 (Docket No. 41) Interim Co-Lead 

Plaintiffs shall file an amended complaint on or before June 12, 2018; 

2. Defendant Shahbazi shall file his response to the amended complaint within thirty

(30) days after the filing of the amended complaint; and

3. If Defendant Shahbazi moves to dismiss the amended complaint, Interim Co-Lead 

Plaintiffs’ opposition shall be due within thirty (30) days after the filing of the 

motion(s) to dismiss; and any replies shall be due within twenty (20) days after the 

filing of Interim Co-Lead Plaintiffs’ opposition.

Case 3:17-cv-06956-EMC Document 52 Filed 04/06/18 Page 2 of 4
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STIPULATION AND [PROPOSED] ORDER; Case No. 3:17-CV-06956 

Dated: April 5, 2018 POMERANTZ LLP

By: /s/ Louis Ludwig

Jennifer Pafiti

468 North Camden Drive

Beverly Hills, CA 90210

Phone: 818.532.6499

Email: jpafiti@pomlaw.com

Jeremy A. Lieberman

J. Alexander Hood II

600 Third Avenue, 20th Floor

New York, NY 10016

Phone: 212.661.1100

Fax: 212.661.8665

Email: jalieberman@pomlaw.com

ahood@pomlaw.com

Patrick V. Dahlstrom

Louis C. Ludwig

Ten South La Salle Street, Suite 3505

Chicago, IL 60603

Phone: 312.377.1181

Fax: 312.377.1184

Email: pdahlstrom@pomlaw.com

lcludwig@pomlaw.com

Interim Co-Lead Counsel

Dated: April 5, 2018 THE ROSEN LAW FIRM, P.A.

By: /s/ Laurence Rosen

Laurence Rosen

355 South Grand Avenue, Suite 2450

Los Angeles, CA 90071

Telephone: (213) 785-2610

Facsimile: (213) 226-4684

Email: lrosen@rosenlegal.com

Interim Co-Lead Counsel

Case 3:17-cv-06956-EMC Document 52 Filed 04/06/18 Page 3 of 4
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STIPULATION AND [PROPOSED] ORDER; Case No. 3:17-CV-06956 

Pursuant to Civil L.R. 5-1(i)(3), all signatories concur in filing this stipulation.

Dated: April 5, 2018 FENWICK & WEST LLP

By:/s/ Jay L. Pomerantz

Jay L. Pomerantz

801 California Street

Mountain View, CA 94041

Phone: (650) 335-7691

Email: jpomerantz@fenwick.com

Counsel for Defendant Hamed Shahbazi

[PROPOSED] ORDER

PURSUANT TO STIPULATION, IT IS SO ORDERED.

Dated: 

Hon. Edward M. Chen

United States District Court Judge

4/6/18

U

NITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

IT IS SO ORDERED

Judge Edward M. Chen

Case 3:17-cv-06956-EMC Document 52 Filed 04/06/18 Page 4 of 4