Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_16-cv-05314/USCOURTS-cand-3_16-cv-05314-0/pdf.json

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

---

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 

STIP. & [PROPOSED] ORDER EXTENDING RESPONSE DEADLINE & VACATING CMC 

CASE NO. 03:16-CV-05314-JST 

JONATHAN K. YOUNGWOOD (pro hac vice pending)

jyoungwood@stblaw.com 

SIMPSON THACHER & BARTLETT LLP 

425 Lexington Avenue 

New York, New York 10017 

Telephone: (212) 455-2000 

Facsimile: (212) 455-2502 

JAMES G. KREISSMAN (Bar No. 206740) 

jkreissman@stblaw.com 

SIMONA G. STRAUSS (Bar No. 203062) 

sstrauss@stblaw.com 

STEPHEN P. BLAKE (Bar No. 260069) 

sblake@stblaw.com 

SIMPSON THACHER & BARTLETT LLP 

2475 Hanover Street 

Palo Alto, California 94304 

Telephone: (650) 251-5000 

Facsimile: (650) 251-5002 

Attorneys for Defendants

Twitter, Inc., Richard Costolo and Anthony Noto 

UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF CALIFORNIA 

SAN FRANCISCO DIVISION 

DORIS SHENWICK, as Trustee for the DORIS 

SHENWICK TRUST, Individually and on Behalf 

of All Others Similarly Situated, 

Plaintiff, 

v. 

TWITTER, INC., RICHARD COSTOLO and 

ANTHONY NOTO, 

Defendants. 

Case No. 03:16-CV-05314-JST

STIPULATION AND 

[PROPOSED] ORDER 

EXTENDING DEFENDANTS’ 

RESPONSE DEADLINE AND 

VACATING INITIAL CASE 

MANAGEMENT CONFERENCE 

PENDING APPOINTMENT OF 

LEAD PLAINTIFF AND LEAD 

COUNSEL 

[CIVIL L.R. 6-1, 6-2] 

Judge: Jon S. Tigar 

Courtroom 9 – 19th Floor 

Case 3:16-cv-05314-JST Document 14 Filed 10/21/16 Page 1 of 4
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 

STIP. & [PROPOSED] ORDER EXTENDING RESPONSE DEADLINE & VACATING CMC

CASE NO. 03:16-CV-05314-JST 1

Pursuant to Civil Local Rules 6-1 and 6-2, all parties, through their undersigned counsel, 

hereby submit this Stipulation and [Proposed] Order deferring Defendants’ deadlines to respond 

to the complaint in this action and vacating the Initial Case Management Conference and 

attendant deadlines. 

RECITALS 

A. On September 16, 2016, Plaintiff Doris Shenwick, as Trustee for the Doris 

Shenwick Trust, filed the above-captioned class action complaint in this Court. The complaint 

alleges violations of the federal securities laws by Twitter, Inc. and two of its current or former 

officers. 

B. Upon commencement of the action, an Initial Case Management Conference was 

set for December 21, 2016, at 2:00 p.m. 

C. Plaintiffs have not yet served any of the named defendants in this action. 

D. This action is governed by the Private Securities Litigation Reform Act of 1995, 

15 U.S.C. § 78u-4 et seq. (the “Reform Act”). Among other things, discovery is automatically 

stayed pending resolution of any motion to dismiss.

E. No meaningful litigation activity is expected until after the Court appoints lead 

plaintiff and lead counsel, at which point a consolidated complaint is likely to be filed by the 

Court-appointed lead plaintiff and lead counsel. After an operative complaint is filed, Defendants 

anticipate filing motions to dismiss that complaint. 

F. Counsel for the undersigned parties agree that deferring the response deadlines for 

all defendants until after the Court appoints a lead plaintiff and lead counsel pursuant to the 

Reform Act is prudent and will conserve party and judicial resources. The parties further agree 

that the Initial Case Management Conference should be vacated and that attendant deadlines and 

related ADR procedures should be deferred until the Initial Case Management Conference is 

reset. 

 

Case 3:16-cv-05314-JST Document 14 Filed 10/21/16 Page 2 of 4
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 

STIP. & [PROPOSED] ORDER EXTENDING RESPONSE DEADLINE & VACATING CMC

CASE NO. 03:16-CV-05314-JST 2

STIPULATION 

NOW, THEREFORE, the undersigned hereby stipulate as follows: 

1. The named defendants agree to accept service of the complaint in this action, 

through counsel. 

2. The named defendants shall have no obligation to respond to the complaint in this 

action until after the Court appoints a lead plaintiff and lead counsel. 

3. Counsel for Defendants will meet and confer with the Court-appointed lead 

counsel within fourteen days after the Court makes its appointment to discuss a schedule for the 

filing of any consolidated complaint and Defendants’ responses thereto. The parties will 

thereafter submit a schedule to the Court for its consideration. 

4. The Initial Case Management Conference that is presently scheduled for 

December 21, 2016 is hereby vacated and shall be reset in connection with the setting of the 

briefing schedule on Defendants’ anticipated motions to dismiss. The related deadlines, including 

ADR requirements, shall be deferred until after an Initial Case Management Conference is reset. 

Dated: October 19, 2016

ROBBINS GELLER RUDMAN & DOWD LLP 

By: /s/ Shawn A. Williams 

Attorneys for Plaintiff 

Doris Shenwick, as Trustee for 

the Doris Shenwick Trust 

Dated: October 19, 2016

SIMPSON THACHER & BARTLETT LLP

By: /s/ Simona G. Strauss 

Attorneys for Defendants 

Twitter, Inc., Richard Costolo and Anthony 

Noto 

Case 3:16-cv-05314-JST Document 14 Filed 10/21/16 Page 3 of 4
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 

STIP. & [PROPOSED] ORDER EXTENDING RESPONSE DEADLINE & VACATING CMC

CASE NO. 03:16-CV-05314-JST 3

[PROPOSED] ORDER 

Pursuant to stipulation, it is SO ORDERED. 

 ______________________________ 

 Hon. Jon S. Tigar 

 United States District Judge 

Dated: October ___, 2016 

 

21

Case 3:16-cv-05314-JST Document 14 Filed 10/21/16 Page 4 of 4