Nevada Cases October 19, 2022: Luo v. Spectrum Pharm.

Case Description

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PAUL HASTINGS LLP

CHRISTOPHER H. MCGRATH (ADMITTED PRO HAC VICE)

COUNSEL FOR ALL DEFENDANTS

PISANELLI BICE PLLC

JORDAN T. SMITH (NV BAR. NO. 12097)

COUNSEL FOR DEFENDANT SPECTRUM PHARMACEUTICALS, INC.

CAMPBELL & WILLIAMS

J. COLBY WILLIAMS (NV BAR NO. 5549)

LOCAL COUNSEL FOR LEAD PLAINTIFF COUNSEL FOR DEFENDANT SPECTRUM PHARMACEUTICALS, INC.

ROBBINS GELLER RUDMAN & DOWD LLP CHRISTOPHER H. MCGRATH (ADMITTEDPRO HAC VICE)

RYAN A. LLORENS (ADMITTEDPRO HAC VICE)

JEFFREY J. STEIN (ADMITTED PRO HAC VICE)

JOHN M. KELLEY (ADMITTED PRO HAC VICE)

COUNSEL FOR LEAD PLAINTIFF INTERNATIONAL TRADING GROUP, INC. A

STIPULATION AND ORDER REGARDING BRIEFING SCHEDULE FOR DEFENDANTS' ANTICIPATED MOTION TO DISMISS THE AMENDED CONSOLIDATED CLASS ACTION COMPLAINT

Plaintiff International Trading Group, Inc. ("ITG" or "Plaintiff") and Defendants Spectrum Pharmaceuticals, Inc., Joseph W. Turgeon, Kurt A. Gustafson, Francois J. Lebel, M.D., and Thomas J. Riga (collectively, "Defendants," and together with Plaintiff, the "Parties"), by and through their undersigned counsel, hereby stipulate and agree as follows and jointly request that the Court enter the below Order approving this Stipulation:

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WHEREAS, on September 26, 2022, Lead Plaintiff ITG filed an Amended Consolidated Class Action Complaint ("ACCAC") which differs substantially from the prior complaint. Among other differences, the ACCAC: (1) is brought by a new plaintiff, ITG; (2) is more than twice the length of the prior complaint; (3) has added allegations concerning a different drug candidate, Poziotinib; (4) posits a different class period than the prior complaint; and (5) has added a new individual defendant, Spectrum Chief Executive Officer Thomas J. Riga;

WHEREAS, Defendants have reviewed the ACCAC and intend to file a motion to dismiss it (the "MTD");

WHEREAS, the Parties have met and conferred and, subject to Court approval, agree that an extended briefing schedule is appropriate for the MTD given the new allegations in the ACCAC, the complexity of the anticipated briefing, and the upcoming holiday season. Specifically, the Parties agree to the following deadlines for the MTD briefing schedule:

By November 30, 2022, Defendants will file the MTD, By January 27, 2023, Lead Plaintiff will file an opposition to the MTD, and

By February 27, 2023, Defendant will file a reply in support of the MTD;

WHEREAS, in her October 4, 2022 Minute Order, United States Magistrate Judge Brenda Weksler ordered that stipulations and proposed orders by the Parties concerning the response date to the ACCAC and related briefing of the MTD be bifurcated and submitted separately between Judge Weksler and the District Court, respectfully;

WHEREAS, pursuant to the Parties' agreement and Judge Weksler's October 4, 2022 Minute Order, on October 7, 2022, Defendants submitted a separate Stipulation and Proposed Order requesting that Defendants' deadline to file the MTD be set for November 30, 2022;

WHEREAS, on October 11, 2022, Judge Weksler adopted the proposed order and set the deadline for the MTD as November 30, 2022; and

WHEREAS, pursuant to Judge Weksler's October 4, 2022 Minute Order, the Parties request that the District Court adopt the other two deadlines included in their agreement.

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NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED THAT:

1. Lead Plaintiff may file an opposition to the MTD on or before January 27, 2023; and

2. Defendants may file a reply brief in further support of the MTD on or before February 27, 2023.

IT IS SO ORDERED.