Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-5_10-cv-01171/USCOURTS-cand-5_10-cv-01171-0/pdf.json

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

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DECHERT LLP

ATTORNEYS AT LAW

SAN FRANCISCO

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 STIP. RE EXT. OF TIME & INITIAL CASE MGM’T CONF. 10CV1171 CRB

MATTHEW L. LARRABEE (No. 97147)

matthew.larrabee@dechert.com

DAVID A. KOTLER (pro hac vice pending)

david.kotler@dechert.com

MURIEL M. KOROL (No. 261909)

muriel.korol@dechert.com

DECHERT LLP

One Maritime Plaza, Suite 2300

San Francisco, California 94111-3513

Telephone: 415.262.4500

Facsimile: 415.262.4555 

Counsel for Defendants

RYDEX SERIES FUNDS; PADCO 

ADVISORS INC. d/b/a RYDEX 

INVESTMENTS, INC.; RYDEX 

DISTRIBUTORS, INC.; NICK BONOS; 

MICHAEL P. BYRUM; RICHARD M. 

GOLDMAN; and CARL G. 

VERBONCOEUR

CRAIG BRIDWELL (No. 246124)

SCHIFF HARDIN LLP

cbridwell@schiffhardin.com

One Market, Spear Street Tower

Thirty-Second Floor

San Francisco, CA 94105

Telephone: 415.901.8798

Facsimile: 415.901.8701

Counsel for Defendants

JOHN O. DEMARET; COREY A. 

COLEHOUR; J. KENNETH DALTON; 

WERNER E. KELLER; THOMAS F. 

LYDON; PATRICK T. MCCARVILLE; 

and ROGER SOMERS

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

SAN FRANCISCO DIVISION

JAMES RAFTON, TRUSTEE OF THE 

JAMES AND CYNTHIA RAFTON TRUST,

Plaintiff,

v.

RYDEX SERIES FUNDS; PADCO 

ADVISORS INC. d/b/a RYDEX 

INVESTMENTS, INC.; RYDEX 

DISTRIBUTORS, INC.; RICHARD M. 

GOLDMAN; CARL G. VERBONCOEUR; 

JOHN O. DEMARET; NICK BONOS; 

MICHAEL P. BYRUM; COREY A. 

COLEHOUR; J. KENNETH DALTON; 

WERNER E. KELLER; THOMAS F. 

LYDON; PATRICK T. MCCARVILLE; 

ROGER SOMERS; and DOES 1 through 25, 

inclusive,

Defendants.

Case No. 10cv1171 CRB

Action filed: March 19, 2010

STIPULATION AND [PROPOSED] 

ORDER FOR EXTENSION OF TIME 

AND RESCHEDULING OF INITIAL 

CASE MANAGEMENT 

CONFERENCE

(N.D. Cal. Civ. L.R. 6-2 and 7-12)

Dept: Courtroom 8, 19th Floor

Judge: Hon. Charles R. Breyer 

Case 5:10-cv-01171-LHK Document 10 Filed 05/04/10 Page 1 of 5
DECHERT LLP

ATTORNEYS AT LAW

SAN FRANCISCO

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1

 STIP. RE EXT. OF TIME & INITIAL CASE MGM’T CONF. 10CV1171 CRB

WHEREAS, plaintiff, through his counsel, filed a purported class action complaint (the 

“Complaint”), against Rydex Series Funds, PADCO Advisors Inc. d/b/a Rydex Investments, Inc., 

Rydex Distributors, Inc., Michael P. Byrum, Richard M. Goldman, Carl G. Verboncoeur, John O. 

Demaret, Nick Bonos, Corey A. Colehour, J. Kenneth Dalton, Werner E. Keller, Thomas F. 

Lydon, Patrick T. McCarville, and Roger Somers (collectively, “Defendants”) in the abovereferenced matter on or about March 19, 2010; 

WHEREAS, pursuant to the Case Management Conference Order, the Initial Case 

Management Conference is scheduled for June 25, 2010; 

WHEREAS, the Complaint asserts claims under the federal securities laws that are subject 

to the procedural requirements of the Private Securities Litigation Reform Act (“PSLRA”) and 

Defendants presently intend to file motions to dismiss, which would trigger a stay of discovery

under the PSLRA; 

WHEREAS, plaintiff and his counsel in this action have yet to file any motions for 

Appointment of Lead Plaintiff and Lead Counsel pursuant to the PSLRA, including Section 27 of 

the Securities Act of 1933, 15 U.S.C. § 77z-1; 

WHEREAS, in order to avoid the unnecessary expenditure of judicial resources or effort 

by the parties to this action and the Court prior to the filing of motion(s) for appointment as Lead 

Plaintiff, the parties to this action have agreed, in the interim prior to the appointment of Lead 

Plaintiff and subject to the Court’s approval, to a continuance of the Initial Case Management 

Conference and an extension of time for Defendants to respond to the Complaint or any

superseding Complaint; and

WHEREAS, this Stipulation and Order is without prejudice to, or waiver of, any rights, 

arguments or defenses otherwise available to the parties to this action, including, but not limited 

to, any challenge to the assertion of personal jurisdiction over one or more of the Defendants and 

the right to revisit the timing of the below-referenced pleadings and motions once Lead Counsel 

is designated by the Court. 

NOW, THEREFORE, the undersigned parties, by and through their counsel of record, 

Case 5:10-cv-01171-LHK Document 10 Filed 05/04/10 Page 2 of 5
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ATTORNEYS AT LAW

SAN FRANCISCO

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2

 STIP. RE EXT. OF TIME & INITIAL CASE MGM’T CONF. 10CV1171 CRB

stipulate as follows: 

1. Defendants shall have no obligation to respond to the individual Complaint filed in 

the above-captioned action; 

2. Lead Plaintiff shall have forty five (45) days after entry of the order appointing 

Lead Plaintiff to file a consolidated amended complaint (“Consolidated Amended 

Complaint”) or to notify Defendants that they shall be proceeding on the original 

complaint; 

3. Defendants shall file and serve any answer(s) or motion(s) to dismiss within forty

five (45) days of service of the Consolidated Amended Complaint or after 

notification by the Lead Plaintiff that they shall be proceeding on the original 

complaint; 

4. Defendants agree to waive service of process to the extent that service has not 

been effected on all Defendants. This stipulation shall not be deemed to waive any 

defense other than as to sufficiency of service of process. 

5. The Initial Case Management Conference, currently scheduled for June 25, 2010, 

shall be adjourned to a date to be re-scheduled by the Court, but which shall be no 

earlier than after Defendants have filed and served their initial responsive 

pleadings with respect to the Consolidated Amended Complaint. 

Case 5:10-cv-01171-LHK Document 10 Filed 05/04/10 Page 3 of 5
DECHERT LLP

ATTORNEYS AT LAW

SAN FRANCISCO

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3

 STIP. RE EXT. OF TIME & INITIAL CASE MGM’T CONF. 10CV1171 CRB

Dated: April 30, 2010 Respectfully submitted, 

SPARER LAW GROUP 

ALAN W. SPARER 

MARC HABER

JAMES S. NABWANGU

By: 

MARC HABER 

100 Pine Street, 33rd Floor

San Francisco, CA 94111-5128

Telephone: 415.217.7300 

Facsimile: 415-217-7307

asparer@sparerlaw.com

Counsel for Named Plaintiff

JAMES RAFTON

DECHERT LLP

MATTHEW L. LARRABEE

DAVID A. KOTLER 

MURIEL M. KOROL

By: /S/

MATTHEW L. LARRABEE

One Maritime Plaza, Suite 2300

San Francisco, California 94111-3513

Telephone: 415.262.4500

Facsimile: 415.262.4555

matthew.larrabee@dechert.com

Counsel for Defendants

RYDEX SERIES FUNDS; PADCO 

ADVISORS INC. d/b/a RYDEX 

INVESTMENTS, INC.; RYDEX 

DISTRIBUTORS, INC.; NICK BONOS; 

MICHAEL P. BYRUM; RICHARD M. 

GOLDMAN; and CARL G. 

VERBONCOEUR

SCHIFF HARDIN LLP

CRAIG BRIDWELL

By: /S/

CRAIG BRIDWELL

One Market, Spear Street Tower

Thirty-Second Floor

San Francisco, CA 94105

Telephone: 415.901.8798

Facsimile: 415.901.8701

Counsel for Defendants

JOHN O. DEMARET; COREY A. 

COLEHOUR; J. KENNETH DALTON; 

WERNER E. KELLER; THOMAS F. 

LYDON; PATRICK T. MCCARVILLE; 

and ROGER SOMERS

PURSUANT TO STIPULATION, IT IS SO ORDERED:

DATED: __________________ _____________________________________

 HONORABLE CHARLES R. BREYER 

Case 5:10-cv-01171-LHK Document 10 Filed 05/04/10 Page 4 of 5
May 3, 2010

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORN

I

A

IT IS SO ORDERED

Judge Charles R. Breyer

Case 5:10-cv-01171-LHK Document 10 Filed 05/04/10 Page 5 of 5