Case 2:07-cv-05619-SDW-MCA Document 6 Filed 12/18/2007 Page 1 of 8
UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY
MICHAEL VOLPE, Individually And On Behalf Of All Others Similarly Situated,
Plaintiff,
vs.
)
)
)
) Case No. 2:07-cv-05619-SDW-MCA
DANIEL H. SCHULMAN, DOUGLAS B.
)
LYNN, JONATHAN MARCHBANK, MARK )
)
POOLE, JOHN D. FEEHAN, JR., FRANCES
)
BRANDON-FARROW, ROBERT
SAMUELSON, L. KEVIN COX, THOMAS O. )
)
RYDER, KENNETH T. STEVENS, SPRINT NEXTEL CORP., CORVINA HOLDINGS )
LIMITED, LEHMAN BROTHERS, INC.,
)
MERRILL LYNCH PIERCE FENNER &
)
SMITH, INC., BEAR, STEARNS & CO., INC., )
RAYMOND JAMES & ASSOC., INC., and )
)
THOMAS WEISEL PARTNERS, LLC,
)
and VIRGIN MOBILE USA, INC.,
Defendants
)
STIPULATION AND [PROPOSED] ORDER
CONSOLIDATING RELATED ACTIONS
AND SETTING BRIEFING SCHEDULE
TO ALL PARTIES AND THEIR ATTORNEYS OF RECORD:
1. To provide for efficient administration of this case consistent with the Private
Securities Litigation Reform Act, the undersigned counsel enter into this stipulation. The
counsel are: (1) Simpson Thacher & Bartlett ("Simpson Thacher") and Drinker Biddle & Reath
LLP ("Drinker Biddle") on behalf of defendant Virgin Mobile USA, Inc., Daniel H. Schulman,
Douglas B. Lynn, Jonathan Marchbank, Mark Poole, John D. Feehan, Jr., Frances BrandonFarrow, Robert Samuelson, L. Kevin Cox, Thomas O. Ryder, Kenneth T. Stevens, Sprint Nextel
Corp. and Corvina Holdings; (2) Skadden, Arps, Slate, Meagher & Flom LLP ("Skadden Arps")
on behalf of defendants Lehman Brothers, Inc., Merrill Lynch Pierce Fenner & Smith, Inc., Bear,
Stearns & Co., Inc., Raymond James & Assoc., Inc., and Thomas Weisel Partners, LLC; (3)
Case 2:07-cv-05619-SDW-MCA Document 6 Filed 12/18/2007 Page 2 of 8
Kahn Gauthier Swick, LLC ("Kahn Gauthier") and Carella, Byrne, Bain, Gilfillan, Cecchi,
Stewart & Olstein ("Carella Byrne") on behalf of Plaintiff Michael Volpe.
IT IS HEREBY STIPULATED AND AGREED, by and among the parties listed
below, by their undersigned counsel, as follows:
2.
The parties agree that, in the interests of justice and efficiency, any related action
subsequently filed in, removed to or transferred to this jurisdiction should be consolidated for all
purposes, including pre-trial proceedings and trial, pursuant to Federal Rule of Civil Procedure
42(a) and Rules 40.1(c) and 42.1 of the Local Civil and Criminal Rules of the United States
District Court for the District of New Jersey.
3.
Subject to approval of the Court, the parties agree that every pleading filed in this
action, or in any separate action included herein, must bear the following caption:
UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY
IN RE VIRGIN MOBILE USA IPO
LITIGATION
) Lead Case No. 2:07-cv-05619-SDW-MCA
)
(Securities Class Action)
This Document Relates To:
)
ALL ACTIONS.
4.
)
When a pleading or other court paper filed in this Action is intended to apply to
all actions therein, the words "All Actions" shall appear immediately after the words "THIS
DOCUMENT RELATES TO:" in the caption set out above. When a pleading or other court
paper is intended to be applicable only to one, or some, but not all of such actions, the party
filing the document shall indicate the action(s) to which the document is intended to be
applicable by last name of the named plaintiff(s) and the docket number(s).
2
Case 2:07-cv-05619-SDW-MCA Document 6 Filed 12/18/2007 Page 3 of 8
5 •
The parties agree that the files of these con
solidated actions will
be maintained in
one file under Lead Case No. 2:07-cv-05619-SDW-MCA
.
6.
The parties agree that the
Court ap pointed Lead Plaintiff shall file
a consolidated
complaint ("Consolidated Co
mplaint") no later than 60 days from the date of e the Court ap
ntry of an order of
pointing Lead Plaintiff, unless o
therwise agreed between the parties
s and approved by
this Court. The Consolidated C
omplaint shall be deemed the operative all c
complaint, superseding
omplaints filed in any of the actions consolidated hereunder.
p
after the filing and service of the Consolidated Complaint Defendants shall have 60 days
o move, answer, or o therwise respond
to the Consolidated Complaint. In the event that defendants
at the Consolidated C omplaint, p laintiffs shall file enda file and serve any motions directed
e and serve their opp
osition within 60 days after
the service of de fendants' motion. If
d efendants file and serve a reply
y to plaintiffs' opposition,
they will do so within 30 days after p
laintiffs' service of the Opposition.
Counsel agree to confer
to select a hearing date.
7.
The parties agree that it would be d
uplicative and wasteful of t
e Court's
resources for defendants to have to respond to the current
c omplaint before ies a e selection of lead
plaintiff and filing the Consolidated Complaint.
Therefore, the
that defendants
named in these actions need not respond in any way to the individual
p
i
complaint that has already
been filed in the Volpe Action or to any other related complaints
plamts that are subsequently assigned
to this C
ourt until 60 days after the filing and service
e of the Consolidated C
omplaint. Service of
the Consolidated Complaint on Simpson Thac
her will constitute service on Virgin Mobile
Inc., Daniel H. S
USA,
chulman, Douglas B. Lynn, Jonathan M
archbank, Mark Pool
' John D. Feehan,
Jr., Frances Brandon-Farrow, Robert Samuelson, L. Kevin Cox, Thomas
^• Ryder, Kenneth T.
Stevens, Sprint Nextel Corp.
rP•
and Corvina Holdings, without waiver by any of the foregoing of
any appropriate jurisdictional d
efenses. Service of the Consolidated C
omplaint on Skad
Arp,
will constitute service on Lehman Brothers, Inc., Merrill Lynch Pierce Fenner & Smith,
ith, Inc.,
Bear, Stearns & Co., Inc., Raymond James & Assoc., Inc., and Thomas Weise
l Partners, LLC,
without waiver by any of the foregoing of an
y aappropriate
PP priate jurisdictional
defenses.
3
Case 2:07-cv-05619-SDW-MCA Document 6 Filed 12/18/2007 Page 4 of 8
8.
Subject to approval of the Court, the parties agree that counsel chosen by Lead
Plaintiffs shall be Lead Counsel. Lead Counsel shall have authority to speak for plaintiffs in
matters regarding pre-trial procedure, trial, and settlement negotiations and shall make all work
assignments in such manner as to facilitate the orderly and efficient prosecution of this litigation
and to avoid duplicative or unproductive effort.
9.
Subject to approval of the Court, the parties agree that plaintiffs' Lead Counsel
shall be responsible for coordinating all activities and appearances on behalf of plaintiffs and for
the dissemination of notices and orders of this Court. The parties agree that no motion, request
for discovery, or other pre-trial or trial proceedings will be initiated or filed by any plaintiff
except through plaintiffs' Lead Counsel.
10.
Subject to approval of the Court, the parties agree that defendants' counsel may
rely upon all agreements made with any of plaintiffs' Lead Counsel, or other duly authorized
representative of plaintiffs' Lead Counsel, and such agreements will be binding on all plaintiffs.
11.
The parties agree that this Order shall apply to each case, arising out of the same
or substantially the same transactions or events as these cases, which is subsequently filed in,
removed to or transferred to this Court.
12.
The parties agree that when a case which properly belongs as part of the In re
Virgin Mobile USA IPO Litigation, Lead Case No. 2:07-cv-05619-SDW-MCA is hereafter filed
in the Court or transferred here from another court, counsel will call to the attention of the clerk
of the Court the filing or transfer of any case that might properly be consolidated as part of the In
re Virgin Mobile USA IPO Litigation, Lead Case No. 2:07-cv-05619-SDW-MCA and counsel
are to assist in assuring that counsel in subsequent actions receive notice of this Order.
13.
The parties agree that the consolidation of these actions is for the procedural and
administrative convenience of the Court and the parties, and does not constitute a waiver or
compromise of any rights the parties would otherwise have.
14.
The parties acknowledge that similar actions have been filed in the United States
District Court for the Southern District of New York, styled Brodsky v. Virgin Mobile USA, Inc.,
4
Case 2:07-cv-05619-SDW-MCA Document 6 Filed 12/18/2007 Page 5 of 8
et al., Case No. 07-CV-10589 (TPG) and Joseph v. Virgin Mobile USA, Inc., et al., Case No. 07CV-11060.
15. The parties agree that this stipulation is without prejudice to the right of any
defendant to seek to transfer this case to another jurisdiction or to stay or terminate this case in
favor of a similar case in another jurisdiction, including but not limited to motions pursuant to 28
U.S.C. §1407. The parties further agree that this stipulation is without prejudice to the rights of
the plaintiffs to oppose any such motion.
Dated: December /f, 2007 ' esP/r1
J.
j .
tiers
.altteri^a.dbr.com
DRINKER BIDDLE & REATH LLP
500 Campus Drive
Florham Park, NJ 07932-1047
James Gamble
j gamble na,stblaw. com
•SIMPSON THACHER & BARTLETT LLP
425 Lexington Avenue
New York, New York 10017-3954
(212) 455-2700
(212) 455-2502 (fax)
Counsel for Defendants Virgin Mobile USA,
Inc., Daniel H. Schulman, Douglas B. Lynn,
Jonathan Marchbank, Mark Poole, John D.
Feehan, Jr., Frances Brandon-Farrow, Robert
Samuelson, L. Kevin Cox, Thomas O. Ryder,
Kenneth T. Stevens, Sprint Nextel Corp. and
Corvina Holdings
5
Case 2:07-cv-05619-SDW-MCA Document 6 Filed 12/18/2007 Page 6 of 8
Dated: December 2007^^
•
^, ,;
ynthia V ^ r1 erald
cfitzger @s adden corn
Susan L. Saltzstein
SSALTZST@,skadden.com
SKADDEN, ARPS, SLATE, MEAGHER &
FLOM LLP
Four Times Square
New York, New York 10036
(212)735-4132
(917) 7774132 (fax)
Counsel for Defendants Lehman Brothers, Inc.,
Merrill Lynch Pierce Fenner & Smith, Inc.,
Bear, Stearns & Co., Inc., ,Raymond James &
Assoc., Inc., and Thomas Weisel Partners, LLC
Dated: December 2007
James E. Checchi
Melissa E. Flax
CARELLA, BYRNE, BAIN, GILFILLAN,
CECCHI, STEWART & OLSTEIN
5 Becker Farm Road
Roseland, New Jersey 07068
(973) 334-1700
(973) 994-1744 (fax)
Counsel for Plaintiff Michael Volpe
Lewis Kahn
KAHN GAUTHIER SWICK, LLC
650 Poydras Street — Suite 2150
New Orleans, LA 70130
(504) 455-1400
(504) 455-1498 (fax)
Kim E. Miller
12 East 41" Street — 12`x' Floor
New York, NY 10017
(212) 696-3730
(504) 455-1498 (fax)
Counsel for Plaintiff Michael Volpe
6
Case 2:07-cv-05619-SDW-MCA Document 6 Filed 12/18/2007 Page 7 of 8
Dated: December 1 q , 2007
Cynthia V. Fitzgerald
cfitzger@skadden.com
Susan L. Saltzstein
SSALTZST@skadden.com
SKADDEN, ARPS, SLATE, MEAGHER &
FLOM LLP
Four Times Square
New York, New York 10036
(212) 735-4132
(917) 777-4132 (fax)
Counsel for Defendants Lehman Brothers, Inc.,
Merrill Lynch Pierce Fenner & Smith, Inc.,
Bear, Stearns & Co., Inc., Raymond James &
Assoc., Inc., and Thomas Weisel Partners, LLC
(,VvV
4
Dated: December L`f , 2007
Ja es E. Cecchi
Me 'ssa E. Flax
CARELLA, BYRNE, BAIN, GILFILLAN,
CECCHI, STEWART & OLSTEIN
5 Becker Farm Road
Roseland, New Jersey 07068
(973) 334-1700
(973) 994-1744 (fax)
Counsel for Plaintiff Michael Volpe
Lewis Kahn
KAHN GAUTHIER SWICK, LLC
650 Poydras Street — Suite 2150
New Orleans, LA 70130
(504) 455-1400
(504)455-1498 (fax)
Kim E. Miller
12 East 41 St Street — 12th Floor
New York, NY 10017
(212) 696-3730
(504) 455-1498 (fax)
Counsel for Plaintiff Michael Volpe
6
Case 2:07-cv-05619-SDW-MCA Document 6 Filed 12/18/2007 Page 8 of 8
ORDER
The above stipulation having been considered, and g • --o cause appearing therefore,
IT IS 1 ORDERED.
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DA
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300336 -3 - STIPULATION TO TRANSFER AND CONSOLIDATE.DOC
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