Opinion
Lead Case No. 12-CV-4327-JSW c/w Case No. 12-CV-4330-JSW c/w Case No. 12-CV-4547-JSW c/w Case No. 12-CV-4684-JSW
03-11-2013
IN RE ZYNGA INC. DERIVAVTIVE LITIGATION This Document Relates To: All Actions.
JORDAN ETH (Bar No. 121617) ANNA ERICKSON WHITE (Bar No. 161385) PHILIP T. BESIR OF (Bar No. 185053) MARK R.S. FOSTER MORRISON & FOERSTER LLP Attorneys for Nominal Defendant ZYNGA INC. and Defendants MARK PINCUS, DAVID M. WEHNER, JOHN SCHAPPERT, MARK VRANESH, REGINALD D. DAVIS, CADIR B. LEE, WILLIAM GORDON, REID HOFFMAN, JEFFREY KATZENBERG, STANLEY J. MERESMAN, SUNIL PAUL, ELLEN F. SIMINOFF, and OWEN VAN NATTA Attorneys for Nominal Defendant ZYNGA INC. and Defendants MARK PINCUS, DAVID M. WEHNER, JOHN SCHAPPERT, MARK VRANESH, REGINALD D. DAVIS, CADIR B. LEE, WILLIAM GORDON, REID HOFFMAN, JEFFREY KATZENBERG, STANLEY J. MERESMAN, SUNIL PAUL, ELLEN F. SIMINOFF, and OWEN VAN NATTA HARWOOD FEFFER LLP ROBERT I. HARWOOD SAMUEL K. ROSEN SAMUEL K. ROSEN Lead Counsel for Plaintiffs BRAMSON, PLUTZIK, MAHLER & BIRKHAEUSER LLP ALAN PLUTZIK
JORDAN ETH (Bar No. 121617)
ANNA ERICKSON WHITE (Bar No. 161385)
PHILIP T. BESIR OF (Bar No. 185053)
MARK R.S. FOSTER
MORRISON & FOERSTER LLP
Attorneys for Nominal Defendant ZYNGA INC. and
Defendants MARK PINCUS, DAVID M. WEHNER, JOHN
SCHAPPERT, MARK VRANESH, REGINALD D. DAVIS,
CADIR B. LEE, WILLIAM GORDON, REID HOFFMAN,
JEFFREY KATZENBERG, STANLEY J. MERESMAN,
SUNIL PAUL, ELLEN F. SIMINOFF, and OWEN VAN
NATTA
DERIVATIVE ACTION
STIPULATION AND [PROPOSED]
ORDER STAYING ACTION
Judge: Hon. Jeffrey S. White
Complaint Filed: August 16, 2012
Trial Date: None Set
The parties, through their undersigned counsel, hereby submit this Stipulation and [Proposed] Order staying proceedings in this action pending resolution of the motion(s) to dismiss in the related federal securities class action:
WHEREAS, on December 3, 2012, the Court entered an order consolidating four related shareholder derivative lawsuits (the "Federal Derivative Action") asserting claims against certain officers and directors of Zynga;
WHEREAS, the Federal Derivative Action is related to a consolidated securities class action captioned In re Zynga Inc. Securities Litigation, Lead Case No. 12-cv-04007-JSW (the "Federal Securities Class Action"), that is currently pending in this Court;
WHEREAS, the defendants in the Federal Securities Class Action anticipate filing motion(s) to dismiss the complaint and a hearing on the motion(s) has been scheduled for August 9, 2013;
WHEREAS, a related consolidated shareholder derivative action captioned In re Zynga Shareholder Derivative Litigation, Lead Case No. CGC-12-522934 (the "State Derivative Action"), is currently pending in the Superior Court of California, County of San Francisco before the Honorable John E. Munter;
WHEREAS, counsel for the parties have been engaged in discussions regarding appropriate next steps and means of efficiently managing the Federal Derivative Action;
WHEREAS, the parties have reached an agreement that, to conserve party and judicial resources, all proceedings, discovery, and deadlines in this action shall be stayed pending this Court's ruling on the motion(s) to dismiss in the Federal Securities Class Action.
THEREFORE, IT IS HEREBY STIPULATED AND AGREED AS FOLLOWS:
1. All proceedings, discovery, and deadlines in this action shall be deferred pending this Court's ruling on the motion(s) to dismiss in the Federal Securities Class Action.
2. The parties shall meet and confer within 14 days of this Court's ruling on the motion(s) to dismiss in the Federal Securities Class Action to discuss proposed next steps for this action.
JORDAN ETH
ANNA ERICKSON WHITE
PHILIP T. BESIROF
MARK R.S. FOSTER
MORRISON & FOERSTER LLP
By: _____________________
ANNA ERICKSON WHITE
Attorneys for Nominal Defendant ZYNGA
INC. and Defendants MARK PINCUS,
DAVID M. WEHNER, JOHN SCHAPPERT,
MARK VRANESH, REGINALD D. DAVIS,
CADIR B. LEE, WILLIAM GORDON, REID
HOFFMAN, JEFFREY KATZENBERG,
STANLEY J. MERESMAN, SUNIL PAUL,
ELLEN F. SIMINOFF, and OWEN VAN
NATTA
HARWOOD FEFFER LLP
ROBERT I. HARWOOD
SAMUEL K. ROSEN
By: _____________________
SAMUEL K. ROSEN
Lead Counsel for Plaintiffs
BRAMSON, PLUTZIK, MAHLER &
BIRKHAEUSER LLP
ALAN PLUTZIK
Pursuant to the stipulation of the parties, IT IS SO ORDERED.
By: __________________________
HONORABLE JEFFREY S. WHITE
UNITED STATES DISTRICT JUDGE