Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_06-cv-06384/USCOURTS-cand-3_06-cv-06384-11/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 Extending Date to Answer 

Case No. 06-CV-06384 CRB 

LESLIE J. HUGHES (CO Bar No. 15043) (hugheslj@sec.gov ) 

LEE C. ROBINSON (CO Bar No. 32734) (robinsonlc@sec.gov ) 

Attorneys for Plaintiff 

U.S. Securities and Exchange Commission 

1801 California Street, Suite 1500 

Denver, Colorado 80202-2656 

Telephone: (303) 844-1000 

Fax: (303) 844-1068 

UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF CALIFORNIA 

SAN FRANCISCO DIVISION 

__________________________________________ 

SECURITIES AND EXCHANGE Case No. 3:06-CV-06384 CRB 

COMMISSION, STIPULATION CONTINUING 

Plaintiff, DATE TO RESPOND TO FIRST 

AMENDED COMPLAINT FOR SOME 

DEFENDANTS 

PEREIRA, et al. AND PROPOSED ORDER

Defendants. Courtroom: 8

Judge: Hon. Charles R. Breyer 

__________________________________________ 

Pursuant to Civil Local Rules 6-2 and 7-12, Plaintiff Securities and Exchange 

Commission (“Commission”), and Defendants William McFarland, Andrew Feldman, L. John 

Kern, and Lori Cornmesser stipulate that the Defendants may have until March 28, 2008 to file 

answers or other responsive pleadings to the First Amended Complaint. Counsel for defendants 

Pereira and Stanton have not joined in this stipulation to extend the date by which the defendants 

must answer the First Amended Complaint because they have concerns about the delays of the 

plaintiff’s attorneys in submitting their offers of settlement to the Commission for consideration. 

Plaintiff’s counsel has conferred with counsel for Pereira and Stanton, but has not been able to 

resolve this issue to date. 

Case 3:06-cv-06384-CRB Document 89 Filed 12/20/07 Page 1 of 5
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Stipulation Extending Date to Answer 

Case No. 06-CV-06384 CRB 

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As grounds for the requested extension, the undersigned parties represents that the 

Plaintiff and the Defendants, except Mr. Kern,1

 participated in mediation with the Honorable 

Fern Smith on June 8, 2007. Between August and November, 2007, Defendants Pereira, Stanton, 

McFarland, Kern, and Feldman submitted written offers, which plaintiff’s counsel is submitting 

to the Commission for consideration. Plaintiff’s counsel is continuing settlement discussions 

with defendant Cornmesser. Consideration of the offers submitted by defendants Kern and 

Feldman has been delayed by the consideration of the pleas they have entered in the parallel 

criminal case. 

The Commission has not yet considered the settlement offers submitted by the 

defendants, which may resolve all the issues pending before this court. The Commission’s 

process of reviewing the offers that are submitted by the defendants takes approximately eight 

weeks. 

The defendants’ answers to the First Amended Complaint are currently due on December 

21, 2007. This stipulation seeks a fifth extension to March 28, 2008 to allow the Commission to 

consider the offers of settlement submitted by the defendants. Granting the extension will save 

the parties legal expenses, and will allow the Commission time to consider the defendants’ offers 

before the answers are due. Although defendants Pereira and Stanton have not joined in this 

stipulation to extend the date by which the defendants must answer the First Amended 

Complaint, plaintiff requests that the extension to answer be granted as to all of the defendants. 

I have conferred with the undersigned counsel for the defendants who stipulate to this 

extension. 

 

1

 Mr. Kern did not participate in mediation because he had negotiated a tentative settlement 

with the SEC prior to the date of the mediation. 

Case 3:06-cv-06384-CRB Document 89 Filed 12/20/07 Page 2 of 5
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Stipulation Extending Date to Answer 

Case No. 06-CV-06384 CRB 

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The undersigned parties respectfully request that the Court grant the request to extend the 

time for the defendants to file answers or respond to the First Amended Complaint to March 28, 

2008. 

DATED: December 19, 2007 

 

 Respectfully submitted, 

s/ Leslie J. Hughes 

Leslie J. Hughes, Esq. (Colo. 15043) 

Attorney for Plaintiff 

Securities and Exchange Commission 

1801 California Street, Suite 1500 

Denver, CO 80202-2656 

Telephone (303) 844-1000 Fax (303) 844-1068 

By: s/ Terri Lilley

 David J. Schindler 

 Robert W. Perrin 

 Terri Lilley 

 LATHAM & WATKINS 

 633 West Fifth, Suite 4000 

 Los Angeles, CA 90071-2007 

 Telephone: (213) 485-1234 

 Fax: (213) 891-8763 

 

Attorneys for Defendant 

ANDREW FELDMAN 

By: s/ Kara L. Erdodi

Kara L. Erdodi, Esq. 

BERLINER COHEN 

 FRANK R. UBHAUS (CA Bar No. 46085) 

 KARA L. ERDODI (CA Bar No. 221093) 

Ten Almaden Boulevard, Eleventh Floor 

San Jose, CA 95113-2233 

Telephone: (408) 286-5800 

 Fax: (408) 998-5388 

Attorneys for Defendant 

LORI H. CORNMESSER 

 

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Stipulation Extending Date to Answer 

Case No. 06-CV-06384 CRB 

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By: s/ David Priebe

David Priebe, Esq. (CA Bar No. 148679) 

David Banie (CA Bar No. 217924) 

 DLA PIPER US LLP 

 2000 University Avenue 

 East Palo Alto, CA 94303-2215 

Telephone: (650) 833-2000 

 Fax: (650) 833-2001 

 Attorneys for Defendant 

 WILLIAM MCFARLAND 

By: s/ Nicole K. Howell

Nanci L. Clarence, SBN 122286 

Nicole Howell 

Kate Dyer, SBN 171891 

CLARENCE & Dyer LLP 

 889 Ellis Street 

 San Francisco, CA 94109-7807 

Telephone: (415) 749-1800 

 Fax: (415) 749-1694 

 Attorneys for Defendant 

 L. JOHN KERN 

PURSUANT TO STIPULATION, IT IS SO ORDERED. 

________________________________ 

Charles R. Breyer 

United States District Judge 

December 20, 2007

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORN

I

A

IT IS SO ORDERED

Judge Charles R. Breyer

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Stipulation Extending Date to Answer 

Case No. 06-CV-06384 CRB 

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CERTIFICATE OF SERVICE 

 I hereby declare, under penalty of perjury under the laws of the State of Colorado, that on 

December 19, 2007, I electronically filed the foregoing STIPULATION EXTENDING TIME TO 

RESPOND TO FIRST AMENDED COMPLAINT AND PROPOSED ORDER with the Clerk of 

the Court using the CM/ECF system which will send notification of such filing to the following 

individuals at their e-mail addresses: 

David Banie david.banie@dlapiper.com, trina.walker@dlapiper.com 

Nanci L. Clarence nclarence@clarencedyer.com 

Kate Dyer kdyer@clarencedyer.com 

Kara L. Erdodi kara.erdodi@berliner.com 

Terri Lilley Terri.lilley@lw.com 

Rachael E. Meny rem@kvn.com, efiling@kvn.com; pal@kvn.com 

Nicolas Morgan nicolas.morgan@dlapiper.com, jette.brasher@dlapiper.com 

Elliot R. Peters erp@kvn.com, efiling@kvn.com; aap@kvn.com 

David Priebe david.priebe@dlapiper.com, stacy.murray@dlapiper.com 

Lee C. Robinson robinsonlc@sec.gov 

David J. Schindler david.schindler@lw.com 

Robert W. Perrin Robert.perrin@lw.com 

Quyen Le Ta qta@kvn.com 

Frank R. Ubhaus fru@berliner.com, cep@berliner.com 

DATED: October 25, 2007 

 

s/ Leslie J. Hughes

Leslie J. Hughes 

Case 3:06-cv-06384-CRB Document 89 Filed 12/20/07 Page 5 of 5