Schlatre v. Marathon Digital Holdings, Inc. et al, No. 2:2021cv02209 - Document 52 (D. Nev. 2022)
Court Description: ORDER Granting 51 Motion to Extend Time. It is Ordered that Lead Plaintiff shall file an amended complaint on October 21, 2022. See order for further details. Signed by Judge Richard F. Boulware, II on 9/12/2022. (Copies have been distributed pursuant to the NEF - LOE)
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Schlatre v. Marathon Digital Holdings, Inc. et al Doc. 52 Case 2:21-cv-02209-RFB-NJK Document 52 Filed 09/12/22 Page 1 of 8 1 2 3 4 5 6 7 8 9 10 11 John P. Aldrich, Esq. (Resident Counsel) Nevada State Bar #6877 Aldrich Law Firm, Ltd. 7866 West Sahara Ave. Las Vegas, NV 89117 Tel: (702) 853-5490 jaldrich@johnaldrichlawfirm.com Liaison Counsel for Lead Plaintiff Carlos Marina Reed R. Kathrein (to be admitted pro hac vice) Lucas E. Gilmore (admitted pro hac vice) HAGENS BERMAN SOBOL SHAPIRO LLP 715 Hearst Avenue, Suite 202 Berkeley, CA 94710 Telephone: (510) 725-3000 Facsimile: (510) 725-3001 reed@hbsslaw.com lucasg@hbsslaw.com 12 Attorneys for Lead Plaintiff Carlos Marina 13 [Additional counsel on signature page] 14 UNITED STATES DISTRICT COURT DISTRICT OF NEVADA 15 16 17 TAD SCHLATRE, Individually and On Behalf Of All Others Similarly Situated, 18 19 20 21 22 Plaintiff, v. MARATHON DIGITAL HOLDINGS, INC., f/k/a MARATHON PATENT GROUP, INC., MERRICK D. OKAMOTO, FREDERICK G. THIEL, and SIMEON SALZMAN, 23 Defendants. 24 Case No.: 2:21-cv-02209-RFB-NJK CLASS ACTION LEAD PLAINTIFF CARLOS MARINA’S MOTION FOR ORDER EXTENDING DEADLINES ON FILING OF THE AMENDED COMPLAINT AND BRIEFING ON DEFENDANTS’ RESPONSIVE PLEADINGS LR IA 6-1 First Extension Request 25 26 27 28 011074-11/2029204 V1 Dockets.Justia.com Case 2:21-cv-02209-RFB-NJK Document 52 Filed 09/12/22 Page 2 of 8 1 Pursuant to LR IA 6-1, Lead Plaintiff Carlos Marina respectfully requests that the 2 Court enter an Order: (i) extending the deadline for Lead Plaintiff to file his amended 3 complaint; and (ii) establishing a briefing schedule on Defendants’ anticipated motion to 4 dismiss the amended complaint as to which the parties have agreed. Defendants take no 5 position on this motion. This is the first requested extension to the above-referenced 6 deadlines. Lead Plaintiff submits that the requested relief is reasonable and will cause no 7 prejudice to any party or undue delay. 8 By way of background, on December 17, 2021, plaintiff Tad Schlatre (“Schlatre”) 9 initiated this securities fraud class action governed by the Private Securities Litigation 10 Reform Act (“PSLRA”). ECF No. 1. Under the PSLRA, discovery is generally stayed 11 pending resolution of any motion to dismiss. See 15 U.S.C. § 78u-4(b)(3)(B). 12 On March 17, 2022, the Court entered an Order granting plaintiff Schlatre’s and 13 Defendants’ stipulation relieving Defendants from responding to the initial complaint until 14 after the appointment of Lead Plaintiff and Lead Counsel. ECF No. 25. Instead, the Court 15 ordered that: (1) Defendants’ counsel and appointed lead counsel shall meet and confer on 16 the deadline to file the amended complaint and Defendants’ deadline to respond within ten 17 (10) business days of the Court’s appointment of a lead plaintiff and lead counsel; and (2) a 18 briefing schedule shall be submitted within ten (10) business days after the parties met and 19 conferred on said deadlines. ECF No. 25. 20 On September 7, 2022, the Court held a hearing on the competing lead plaintiff 21 motions and entered an order granting Carlos Marina’s motion for appointment as Lead 22 Plaintiff and approving his selection of Hagens Berman as lead counsel, and Aldrich Law 23 Firm, Ltd. as liaison counsel. ECF No. 46. At the hearing, the Court directed Lead Counsel 24 to meet and confer with Defendants’ counsel and submit a briefing schedule for the filing of 25 an amended complaint and the briefing on Defendants’ motion to dismiss within two weeks 26 of the hearing. The Court stated that the transcript of the lead plaintiff motion hearing shall 27 serve as the Opinion and Order of the Court. ECF No. 46. 28 MOTION FOR ORDER EXTENDING DEADLINES Case No. 2:21-cv-02209-RFB-NJK 011074-11/2029204 V1 -1- Case 2:21-cv-02209-RFB-NJK Document 52 Filed 09/12/22 Page 3 of 8 1 On September 7, 2022, the Court entered a Minute Order, ruling that the deadline 2 for the filing of the amended complaint is due two weeks from September 7, 2022 (i.e., 3 September 21, 2022). ECF No. 46. 4 Lead Counsel is diligently preparing an amended complaint, which allegations will 5 be more expansive than those in the original complaint filed by Schlatre, as is customary in 6 securities class actions governed by the Private Securities Litigation Reform Act 7 (“PSLRA”). Prior to doing so, extensive investigation will be needed to prepare a 8 sufficiently detailed amended complaint for this securities fraud class action which requires 9 particularized pleading to satisfy the PSLRA’s heightened pleading standards. Accordingly, 10 Lead Plaintiff respectfully requests that the Court set the date to file the amended complaint 11 to October 21, 2022. To put this request into context, the time between the appointment of 12 lead plaintiff and submission of the consolidated complaint – 44 days – is shorter than the 13 deadline set in other recent securities fraud cases in this District. See, e.g., Luo v. Spectrum 14 Pharm., Inc., et al., Case No. 2:21-cv-01612, ECF. No. 35 (D. Nev. Mar. 2, 2022) 15 (allowing court appointed lead plaintiff 60 days to file amended complaint following 16 appointment); Sieggreen v. Live Ventures Inc., et al., Case No. 2:21-cv-01517, ECF No 11, 17 19 (D. Nev. 2021) (allowing court appointed lead plaintiff 60 days to file amended 18 complaint following appointment and further extending deadline for lead plaintiff to file 19 amended complaint in light of parallel Securities Exchange Commission case relevant to 20 preparation of the amended complaint); The Daniels Family Revocable Trust v. Las Vegas 21 Sands Corp., et al., Case No. 2:20-cv-01958, ECF No. 25 (D. Nev. Jan. 26, 2021) (allowing 22 court appointed lead plaintiff 62 days to file amended complaint following appointment). 23 In addition, the parties also propose deadlines for the filing of Defendants’ 24 responsive pleadings and briefing on any motion to dismiss, as set forth below: 25 1. Defendants’ responsive pleadings – December 6, 2022. 26 2. Lead Plaintiff’s opposition to any motion to dismiss – January 20, 2023. 27 3. Defendants’ reply in support of any motion to dismiss – February 17, 2023. 28 MOTION FOR ORDER EXTENDING DEADLINES Case No. 2:21-cv-02209-RFB-NJK 011074-11/2029204 V1 -2- Case 2:21-cv-02209-RFB-NJK Document 52 Filed 09/12/22 Page 4 of 8 1 CONCLUSION 2 3 Lead Plaintiff thus respectfully requests that the Court enter the attached [Proposed] Order. 4 5 6 DATED: September 12, 2022 7 HAGENS BERMAN SOBOL SHAPIRO LLP By /s/ Lucas E. Gilmore Lucas E. Gilmore (admitted pro hac vice) Reed R. Kathrein (to be admitted pro hac vice 715 Hearst Avenue, Suite 202 Berkeley, CA 94710 Telephone: (510) 725-3000 Facsimile: (510) 725-3001 reed@hbsslaw.com lucasg@hbsslaw.com 8 9 10 11 12 Steve W. Berman (to be admitted pro hac vice) HAGENS BERMAN SOBOL SHAPIRO LLP 1301 Second Avenue, Suite 2000 Seattle, WA 98101 Telephone: (206) 623-7292 Facsimile: (206) 623-0594 steve@hbsslaw.com 13 14 15 16 Attorneys for Lead Plaintiff Carlos Marina and Lead Counsel 17 John P. Aldrich, Esq. NV Bar No. 6877 ALDRICH LAW FIRM, LTD 7866 West Sahara Ave. Las Vegas NV 89117 Tel. 702.853.5490 Fax. 702.227.1975 Email: jaldrich@johnaldrichlawfirm.com 18 19 20 21 22 Liaison Counsel for Lead Plaintiff Carlos Marina 23 24 25 26 27 28 MOTION FOR ORDER EXTENDING DEADLINES Case No. 2:21-cv-02209-RFB-NJK 011074-11/2029204 V1 -3- Case 2:21-cv-02209-RFB-NJK Document 52 Filed 09/12/22 Page 5 of 8 1 2 3 4 5 CERTIFICATE OF SERVICE I hereby certify that on September 12, 2022, I electronically filed the foregoing document using the CM/ECF system which will send notification of such filing to the email addresses registered in the CM/ECF system, as denoted on the Electronic Mail Notice List. 6 HAGENS BERMAN SOBOL SHAPIRO LLP 7 /s/ Lucas E. Gilmore Lucas E. Gilmore 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 MOTION FOR ORDER EXTENDING DEADLINES Case No. 2:21-cv-02209-RFB-NJK 011074-11/2029204 V1 -4- Case 2:21-cv-02209-RFB-NJK Document 52 Filed 09/12/22 Page 6 of 8 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 UNITED STATES DISTRICT COURT DISTRICT OF NEVADA 18 19 TAD SCHLATRE, Individually and On Behalf Of All Others Similarly Situated, 20 21 22 23 24 Plaintiff, v. MARATHON DIGITAL HOLDINGS, INC., f/k/a MARATHON PATENT GROUP, INC., MERRICK D. OKAMOTO, FREDERICK G. THIEL, and SIMEON SALZMAN, 25 Defendants. 26 27 28 010468-11 721114V1 Case No.: 2:21-cv-02209-RFB-NJK CLASS ACTION [PROPOSED] ORDER GRANTING LEAD PLAINTIFF CARLOS MARINA’S MOTION FOR ORDER EXTENDING DEADLINES ON FILING OF THE AMENDED COMPLAINT AND BRIEFING ON DEFENDANTS’ RESPONSIVE PLEADINGS Case 2:21-cv-02209-RFB-NJK Document 52 Filed 09/12/22 Page 7 of 8 1 2 3 Upon consideration of Lead Plaintiff Carlos Marina’s Motion for Order Extending Deadlines on Filing of the Amended Complaint and Briefing on Defendants’ Responsive Pleadings and good cause appearing therefor, 4 IT IS HEREBY ORDERED THAT: 5 6 7 8 9 1. The Motion is GRANTED; 1. Lead Plaintiff shall file an amended complaint on October 21, 2022; 2. Defendants shall file their motion to dismiss by December 6, 2022; 3. Lead Plaintiff shall file any opposition to any motion to dismiss by January 20, 2023. 10 4. 11 February 17, 2023. 12 13 14 Defendants shall file any reply in support of any motion to dismiss by IT IS SO ORDERED. DATED: __________________ 15 16 17 18 19 20 21 22 23 24 25 26 27 28 ___________________________________________ THE HONORABLE RICHARD F. BOULWARE, II UNITED STATES DISTRICT JUDGE Submitted by: Dated: September 12, 2022 HAGENS BERMAN SOBOL SHAPIRO LLP By /s/ Lucas E. Gilmore Lucas E. Gilmore (admitted pro hac vice) Reed R. Kathrein (to be admitted pro hac vice) 715 Hearst Avenue, Suite 202 Berkeley, CA 94710 Telephone: (510) 725-3000 Facsimile: (510) 725-3001 reed@hbsslaw.com lucasg@hbsslaw.com Steve W. Berman (to be admitted pro hac vice) HAGENS BERMAN SOBOL SHAPIRO LLP 1918 Eighth Avenue, Suite 3300 Seattle, WA 98101 Telephone: (206) 623-7292 Facsimile: (206) 623-0594 steve@hbsslaw.com [PROP.] ORDER GRANTING MOT. EXTENDING -1DEADLINES Case No. 2:21-cv-02209-RFB-NJK 010468-11 721114V1 Case 2:21-cv-02209-RFB-NJK Document 52 Filed 09/12/22 Page 8 of 8 1 2 3 4 5 6 7 8 9 Attorneys for Lead Plaintiff Carlos Marina and Lead Counsel John P. Aldrich, Esq. NV Bar No. 6877 ALDRICH LAW FIRM, LTD 7866 West Sahara Ave. Las Vegas NV 89117 Tel. 702.853.5490 Fax. 702.227.1975 Email: jaldrich@johnaldrichlawfirm.com Liaison Counsel for Lead Plaintiff Carlos Marina 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 [PROP.] ORDER GRANTING MOT. EXTENDING DEADLINES Case No. 2:21-cv-02209-RFB-NJK 010468-11 721114V1 -2-
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