Free Order - District Court of California - California

Case 4:07-cv-01500-CW

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SCHIFFRIN BARROWAY TOPAZ & KESSLER, LLP Alan R. Plutzik, Of Counsel (Bar No. 077785) L. Timothy Fisher, Of Counsel (Bar No. 191626) Nichole Browning (Bar No. 251937) 2125 Oak Grove Road, Suite 120 Walnut Creek, California 94589 Telephone: (925) 945-0770 Facsimile: (925) 945-8792 [email protected] [email protected] [email protected] -andEric L. Zagar J. Daniel Albert 280 King of Prussia Road Radnor, PA 19087 Telephone: (610) 667-7706 Facsimile: (610) 667-7056 [email protected] [email protected]

13 [Additional counsel appear on signature page] 14 15 16 RALPH D. WILDER, et al., Derivatively on 17 Behalf of SONIC SOLUTIONS, 18 19 vs. Plaintiffs, ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) No. C-07-1500-CW STIPULATION AND ORDER AMENDING THE SCHEDULE

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA

20 ROBERT J. DORIS, et al., 21 22 ­ and ­ Defendants,

23 SONIC SOLUTIONS, a California corporation, 24 Nominal Defendant. 25 26 27

28 STIPULATION AND [PROPOSED] ORDER AMENDING THE SCHEDULE
CASE NO. 07-cv-01500-CW

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WHEREAS, the above-captioned action is a shareholder derivative action brought by

2 plaintiffs on behalf of nominal defendant Sonic Solutions ("Sonic") against its Board of Directors 3 and certain officers; 4 WHEREAS, on August 2, 2007, this Court consolidated the following related shareholder

5 derivative actions brought by shareholders of Sonic: Wilder v. Doris, Case No. 07-1500-CW; Walter 6 v. Doris, Case No. 07-2344-CW; Forseth v. Doris, Case No. 07-3178-CW; and Doolittle v. Doris, 7 Case No. 07-3361-CW, appointed plaintiffs Andrew Walter and James Forseth as Lead Plaintiffs 8 ("Lead Plaintiffs") and appointed the law firm of Schiffrin Barroway Topaz & Kessler, LLP as Lead 9 Counsel; 10 WHEREAS, on February 1, 2007, Sonic announced that the Company had begun an internal

11 investigation into its historical stock option granting practices which form the basis for the 12 allegations of backdating alleged in Lead Plaintiffs' Complaints; 13 WHEREAS, on January 8, 2008, the parties stipulated to extend the briefing schedule

14 because the Company had not yet completed its internal investigation into the allegations of the 15 Complaint, such that Lead Plaintiffs would file a Consolidated Complaint by March 17, 2008 and 16 Defendants would file and serve answers or otherwise respond to the Consolidated Complaint by 17 May 1, 2008; 18 WHEREAS, on January 10, 2007, the Court entered an Order approving the stipulation to

19 extend the briefing schedule and set a hearing date for any motion directed at the Consolidated 20 Complaint for July 24, 2008; 21 WHEREAS, on February 26, 2008, Sonic completed its internal investigation into

22 allegations contained in the Complaint and filed a Form 10-K with the Securities Exchange 23 Commission detailing the results of the investigation; 24 WHEREAS, after the Company issued the results of the investigation, counsel for Lead

25 Plaintiffs and Defendants conferred and are continuing to engage in settlement discussions; 26 27 28 1
STIPULATION AND [PROPOSED] ORDER AMENDING THE SCHEDULE CASE NO. 07-cv-01500-CW

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WHEREAS, in light of the foregoing, after meeting and conferring, counsel for Lead

2 Plaintiffs and Defendants agree that judicial economy will be served by continuing the date for 3 Lead Plaintiffs' filing of a Consolidated Complaint and Defendants' responses to the Complaint, 4 subject to Court approval; 5 WHEREAS, the proposed schedule is not for the purpose of delay, promotes judicial

6 efficiency, and will not cause prejudice to any party; 7 THEREFORE, IT IS STIPULATED AND AGREED by Lead Plaintiffs and Defendants,

8 through their respective counsel of record, as follows: 9 1. Lead Plaintiffs shall file a Consolidated Complaint no later than April 30, 2008.

10 Defendants shall file and serve answers or otherwise respond to the Consolidated Complaint by 11 June 9, 2008. In the event that Defendants file and serve any motion directed at the Consolidated 12 Complaint, Lead Plaintiffs shall file and serve an opposition by July 14, 2008. If Defendants file and 13 serve a reply to Lead Plaintiffs' opposition, they will do so by August 11, 2008. 14 2. The hearing date for any motion directed at the Consolidated Complaint previously

15 scheduled for July 24, 2008 shall be moved to August 28, 2008 at 2:00 p.m., or as early thereafter as 16 is convenient for the Court. The Case Management Conference set for July 24, 2008 shall be 17 continued to August 28, 2008, or as early thereafter as is convenient for the Court. 18 3. By executing this Stipulation, the parties have not waived and expressly retain all

19 claims, defenses and arguments whether procedural, substantive or otherwise, and is without 20 prejudice to any subsequent motion to stay this action, and this Order is entered without prejudice to 21 the rights of any party to apply for a modification of this Order for good cause. 22 23 DATED: March 4, 2008 24 25 26 27 28 2
STIPULATION AND [PROPOSED] ORDER AMENDING THE SCHEDULE CASE NO. 07-cv-01500-CW

IT IS SO STIPULATED. SCHIFFRIN BARROWAY TOPAZ & KESSLER, LLP

/s/
Nichole Browning

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Alan R. Plutzik, Of Counsel (Bar No. 077785) L. Timothy Fisher, Of Counsel (Bar No. 191626) Nichole Browning (Bar No. 251937) 2125 Oak Grove Road, Suite 120 Walnut Creek, CA 94598 Telephone: (925) 945-0770 Facsimile: (925) 945-8792 -andEric L. Zagar J. Daniel Albert 280 King of Prussia Road Radnor, PA 19087 Telephone: (610) 667-7706 Facsimile: (610) 667-7056 Attorneys for Lead Plaintiffs ANDREW WALTER JAMES FORSETH

I, Nichole Browning, am the ECF user whose ID and password are being used to file this Stipulation and [Proposed] Order Amending the Schedule. In compliance with General 13 Order 45, X.B., I hereby attest that Carol Lynn Thompson of Heller Ehrman LLP has 14 concurred in this filing.
15 16 17 18 19 20 21 22 23 24 25 26 27 28 /s/ Carol Lynn Thompson Sara Brody Carol Lynn Thompson Monica Patel 333 Bush Street San Francisco, CA 94104-2878 Telephone: (415) 772-6000 Facsimile: (415) 772-6268 [email protected] [email protected] [email protected] Attorneys for Defendant SONIC SOLUTIONS DATED March 4 , 2008 HELLER EHRMAN LLP

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STIPULATION AND [PROPOSED] ORDER AMENDING THE SCHEDULE CASE NO. 07-cv-01500-CW

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ORDER

2 PURSUANT TO STIPULATION SETTING SCHEDULE, IT IS SO ORDERED. 3

3/13/08 _______________________________ The Honorable Claudia Wilken United States District Judge

4 DATED: ____________________ 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 4

STIPULATION AND [PROPOSED] ORDER AMENDING THE SCHEDULE CASE NO. 07-cv-01500-CW

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