MARKETTE v. XOMA CORPORATION

STIPULATION AND ORDER TO VACATE INITIAL CASE MANAGEMENT CONFERENCE AND RESET ALL RELATED DEADLINES AND EXTEND DEFENDANTS' TIME TO ANSWER OR OTHERWISE RESPOND TO THE COMPLAINT

HAYWOOD S. GILLIAM, Jr., District Judge.

Plaintiff Joseph Markette, individually and on behalf of all others similarly situated, ("Plaintiff"), by and through his undersigned counsel, and Defendants XOMA Corporation, John Varian, and Paul Rubin ("Defendants"), by and through their undersigned counsel, hereby stipulate and agree as follows:

WHEREAS Plaintiff's Class Action Complaint for Violations of the Federal Securities Laws (the "Complaint") was filed in the action styled Markette v. XOMA Corporation, et al., No. 3:15-CV-3425-HSG on July 24, 2015 (Dkt. No. 1) (the "Complaint");

WHEREAS, Plaintiff sent waivers of service of summons to Defendants on August 4, 2015 and Cooley LLP accepted service on their behalf;

WHEREAS, under Rule 12 of the Federal Rules of Civil Procedure, Defendants are required to answer or otherwise respond to Plaintiff's Complaint on or before September 28, 2015;

WHEREAS, under section 78u-4(a)(3) of the Private Securities Litigation Reform Act of 1995 ("PSLRA") the deadline to file a motion to appoint lead plaintiff and to appoint lead counsel is September 22, 2015;

WHEREAS, on July 27, 2015, this Court issued an Order, scheduling an Initial Case Management Conference for October 27, 2015 along with related Alternative Dispute Resolution ("ADR") deadlines.

WHEREAS, the parties agree that, in light of the deadline to file a motion to appoint lead plaintiff and lead counsel, and in the interests of judicial economy and preservation of the Court's and the parties' resources, Defendants need not respond to the pending Complaint;

WHEREAS, under Civil Local Rule 6-1(a), the parties may stipulate in writing, without a Court order, to extend the time within which to answer or otherwise respond to the Complaint provided that the change will not alter the date of any event or any deadline already fixed by Court order;

WHEREAS, the Court has not issued any order setting the time within which Defendants must answer or otherwise respond to the Complaint;

NOW THEREFORE, the parties hereby STIPULATE and AGREE as follows, through their undersigned counsel:

1. Defendants shall not be required to, and shall not waive any rights, arguments, or defenses by not answering, moving against, or otherwise responding to the pending Complaint in the action styled Markette v. XOMA Corporation, et al., No. 3:15-CV-3425-HSG;

2. Upon appointment of a lead plaintiff and lead counsel, the parties will meet and confer to set a schedule for the filing by such lead plaintiff of a consolidated complaint and Defendants' response.

3. The Initial Case Management Conference currently scheduled for October 27, 2015, along with any associated deadlines under the Federal Rules of Civil Procedure and Local Rules (including ADR deadlines), shall be vacated and reset after appointment of lead plaintiff and lead counsel.

IT IS SO STIPULATED.

ORDER

PURSUANT TO STIPULATION, IT IS SO ORDERED.