United States District Court, D. Nevada
IN RE CV SCIENCES, INC. SECURITIES LITIGATION
Richard Gonnello Martin A. Muckleroy MUCKLEROY LUNT, LLC
MUCKLEROY LUNT, LLC FARUQI & FARUQI, LLP Attorneys for
Lead Plaintiff Richard Ina, as Trustee for the Ina Family
Trust and Lead Counsel for the Class
Plourde Terry A. Coffing S. Todd Neal (pro hac vice)
PROCOPIO, CORY, HARGREAVES & SAVITCH LLP Attorneys for
Defendants CV Sciences, Inc., Michael Mona, Jr., Joseph D.
Dowling, Michael Mona, III
STIPULATION AND [PROPOSED] ORDER VACATING SCHEDULING
WEKSLER, UNITED STATES (DISTRICT/MAGISTRATE) JUDGE.
PARTIES HEREBY STIPULATE TO THE FOLLOWING FACTS:
On November 28, 2018, the Court entered the Stipulation and
Order Extending Time to Respond to Complaint (Dkt. No. 25),
pursuant to which the Court ordered that Lead Plaintiff
Richard Ina, Trustee for the Ina Family Trust (“Lead
Plaintiff”) file his consolidated amended complaint by
January 4, 2019; that Defendants CV Sciences, Inc., Michael
Mona, Jr., Joseph D. Dowling, and Michael Mona, III
(“Defendants”) file their motion to dismiss by
March 5, 2019; that Lead Plaintiff file his opposition to
Defendants' motion to dismiss by May 3, 2019; and that
Defendants file their reply in support of their motion to
dismiss by June 3, 2019.
January 4, 2019, Lead Plaintiff filed his Amended Class
Action Complaint for Violation of the Federal Securities Laws
(the “Amended Complaint”) (Dkt. No. 30). On March
5, 2019, Defendants filed their Motion to Dismiss (Dkt. No.
33) and related papers (Dkt. Nos. 34 and 35). Pursuant to the
Court's Order (Dkt. No. 25), Lead Plaintiff's
opposition to the Motion to Dismiss must be filed by May 3,
April 25, 2019, United States Magistrate Judge Peggy A. Leen
issued an Order (Dkt. No. 39) (the “Scheduling
Order”). The Scheduling Order set forth that
“Pursuant to LR 26-1, the parties were required to meet
and/or confer as required by Fed.R.Civ.P. 26(f) within thirty
days after the first defendant answered or otherwise
appeared, and fourteen days thereafter to file a mandatory
stipulated discovery plan and scheduling order. To date, the
parties have not complied.” Scheduling Order, Dkt. No.
39, p. 1. The Scheduling Order set forth various discovery
deadlines to govern this matter, including a requirement that
the parties meet and confer no later than May 9, 2019 and
complete discovery by September 2, 2019.
matter is a securities fraud case subject to the Private
Securities Litigation Reform Act of 1995
(“PSLRA”). The PSLRA requires that “all
discovery and other proceedings shall be stayed
during the pendency of any motion to dismiss, unless the
court finds, upon the motion of any party, that
particularized discovery is necessary to preserve evidence or
to prevent undue prejudice to that party.” 15 U.S.C.
§ 78u-4(b)(3)(B) (emphasis added). “[T]he Ninth
Circuit has interpreted the automatic stay on all discovery
under the PSLRA as applying not only when a motion to dismiss
is pending, but from the filing of the case until such time
that ‘the court has sustained the legal sufficiency of
the complaint.'” In re Am. Funds Sec.
Litig., 493 F.Supp.2d 1103, 1105 (C.D. Cal. 2007)
(citing SG Cowen Securities Corp. v. U.S. Dist.
Court, 189 F.3d 909, 911 (9th Cir. 1999)).
present matter, there is no dispute that the PSLRA governs.
Defendants filed their Motion to Dismiss on March 5, 2019
(Dkt. No. 33). Therefore, all discovery in this matter has
been automatically stayed pursuant to the PSLRA, including
any requirements set forth in Fed.R.Civ.P. 26 and/or Local
Rule 26-1. Lead Plaintiff has not moved to lift the stay of
discovery. Therefore, the automatic stay remains in effect.
REASONS SET FORTH ABOVE, THE PARTIES HEREBY STIPULATE AS
this matter is subject to the provisions of the PSLRA;
Defendants have filed their Motion to Dismiss, which remains
the Court entered the Scheduling Order on April 25, 2019
(Dkt. No. 39), setting forth a discovery plan and scheduling
order dates that inter alia shall apply to discovery
in this matter;
the discovery contemplated in the Scheduling Order is subject
to the ...