Wang et al v. Athira Pharma Inc et al, No. 2:2021cv00861 - Document 12 (W.D. Wash. 2021)
Court Description: ORDER granting the parties' 11 Stipulated Motion to Extend Time to Respond to the Complaint and Vacate Discovery Deadlines. Signed by Judge Thomas S. Zilly. (PM)
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Wang et al v. Athira Pharma Inc et al Doc. 12 Case 2:21-cv-00861-TSZ Document 12 Filed 07/26/21 Page 1 of 6 1 THE HONORABLE THOMAS S. ZILLY 2 3 4 5 6 7 UNITED STATES DISTRICT COURT WESTERN DISTRICT OF WASHINGTON AT SEATTLE 8 9 10 FAN WANG and HANG GAO, Individually and on Behalf of All Others Similarly Situated, 11 12 13 14 15 Plaintiffs, v. CASE NO.: 2:21-cv-00861-TSZ STIPULATION AND ORDER TO EXTEND TIME TO RESPOND TO THE COMPLAINT AND VACATE DISCOVERY DEADLINES ATHIRA PHARMA, INC., a Delaware Corporation, and LEEN KAWAS, Defendants. 16 17 18 19 20 21 22 23 24 25 26 27 STIPULATION AND ORDER TO EXTEND TIME TO RESPOND TO THE COMPLAINT 2:21-cv-00861-TSZ WILSON SONSINI GOODRICH & ROSATI, P.C. 701 Fifth Avenue, Suite 5100 Seattle, WA 98104-7036 Tel: (206) 883-2500 Fax: (206) 883-2699 Dockets.Justia.com Case 2:21-cv-00861-TSZ Document 12 Filed 07/26/21 Page 2 of 6 STIPULATION 1 2 In accordance with Local Civil Rules 7(d)(1) and 10(g), Plaintiffs Fan Wang and Hang 3 Gao (“Plaintiffs”), individually and on behalf of all others similarly situated, and Defendants 4 Athira Pharma, Inc. and Dr. Leen Kawas (together “Defendants”), by and through their 5 undersigned counsel, submit the following Stipulation and ask the Court to enter an order 6 consistent with this Stipulation: 7 1. WHEREAS, on June 25, 2021, Plaintiffs, individually and on behalf of all others 8 similarly situated, filed a Class Action Complaint for Violations of the Federal Securities Laws 9 against Athira Pharma and Dr. Kawas, in the above-captioned matter (the “Complaint”); 10 2. WHEREAS, on June 25, 2021, two substantially similar Class Action Complaints 11 for Violations of the Federal Securities Laws were filed against Athira Pharma and related 12 defendants in this District by plaintiff Harshdeep Jawandha, No. 2:21-cv-00862-JCC (the 13 “Jawandha Action”) and plaintiffs Timothy Slyne and Tai Slyne, No. 2:21-cv-00864-JLR (the 14 “Slyne Action”); 15 3. WHEREAS, Plaintiffs sent a request to waive service of a summons in the above- 16 captioned matter to Defendant Athira Pharma on July 21, 2021, which Athira Pharma returned on 17 the same day, making Athira Pharma’s current deadline to respond to the Complaint September 18 20, 2021, and Plaintiffs sent a request to waive service of a summons in the above-captioned matter 19 to Defendant Dr. Leen Kawas on July 23, 2021, which Dr. Kawas returned on the same day, 20 making Dr. Kawas’ current deadline to respond to the Complaint September 21, 2021; 21 4. WHEREAS, on June 30, 2021, the Court entered an Order Regarding Initial 22 Disclosures, Joint Status Report, and Early Settlement (Dkt #4) in the above-captioned matter 23 setting August 16, 2021 as the deadline for the FRCP 26(f) Conference and August 30, 2021 as 24 the deadline for initial disclosures pursuant to FRCP 26(a)(1) and the filing of a Combined Joint 25 Status Report and Discovery Plan pursuant to FRCP 26(f) and LCR 26(f); 26 27 5. WHEREAS, this action is governed by the provisions of the Private Securities Litigation Reform Act of 1995, Pub. L. 104-67, 109 Stat. 737 (the “PSLRA”), 15 U.S.C. §78u-4 STIPULATION AND ORDER TO EXTEND TIME TO RESPOND TO THE COMPLAINT 2:21-cv-00861-TSZ -1- WILSON SONSINI GOODRICH & ROSATI, P.C. 701 Fifth Avenue, Suite 5100 Seattle, WA 98104-7036 Tel: (206) 883-2500 Fax: (206) 883-2699 Case 2:21-cv-00861-TSZ Document 12 Filed 07/26/21 Page 3 of 6 1 et seq., and the parties anticipate that this action will be consolidated with the Jawandha and Slyne 2 Actions, a Lead Plaintiff will be appointed, and the Lead Plaintiff will file a consolidated complaint 3 superseding the previously filed complaints, including the Complaint; 4 6. WHEREAS the filing of initial disclosures and a discovery plan would be 5 premature because all discovery, including initial disclosures, in this action is subject to the 6 discovery stay provisions of the PSLRA. See 15 U.S.C. § 78u-4(b)(3)(B) (“all discovery and other 7 proceedings shall be stayed during the pendency of any motion to dismiss, unless the court finds 8 upon the motion of any party that particularized discovery is necessary to preserve evidence or to 9 prevent undue prejudice to that party”); and 10 7. WHEREAS, the parties agree that efficiency for the Court and the parties in 11 proceeding under the PSLRA dictates that responding to the current Complaint should be deferred. 12 NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED, by and among the 13 14 parties, subject to the approval of this Court, that: 1. In the interests of judicial economy and preserving the resources of the parties and 15 the Court, the parties agree that no answer, motion, or other response to the Complaint shall be 16 due until after a Lead Plaintiff is appointed, Lead Counsel is approved, and Lead Plaintiff has had 17 the opportunity to prepare or designate a post-appointment consolidated complaint, provided that 18 Defendants do not otherwise respond to the complaint in the Jawandha or Slyne Actions or a 19 complaint in any other class action lawsuit in this District arising under the PSLRA asserting the 20 same or substantially the same claims against the same Defendants prior to the appointment of 21 Lead Plaintiff and approval of Lead Counsel. 22 23 24 2. Defendants shall not waive any rights, arguments, or defenses by waiting to answer, move, or otherwise respond to the Complaint pursuant to this Stipulation. 3. After the appointment of Lead Plaintiff and approval of Lead Counsel, pursuant to 25 15 U.S.C. § 78u-4(a)(3)(B), Lead Plaintiff and the Defendants shall promptly meet and confer 26 regarding a schedule for the filing of a consolidated complaint or designation of an operative 27 complaint, and a briefing schedule for Defendants’ anticipated motion(s) to dismiss. STIPULATION AND ORDER TO EXTEND TIME TO RESPOND TO THE COMPLAINT 2:21-cv-00861-TSZ -2- WILSON SONSINI GOODRICH & ROSATI, P.C. 701 Fifth Avenue, Suite 5100 Seattle, WA 98104-7036 Tel: (206) 883-2500 Fax: (206) 883-2699 Case 2:21-cv-00861-TSZ Document 12 Filed 07/26/21 Page 4 of 6 4. 1 Pursuant to the discovery stay provisions of the PSLRA, the parties further agree 2 that all discovery related deadlines should be vacated until after a ruling on the Defendants’ 3 anticipated motion(s) to dismiss. 4 5 6 5. This Stipulation is entered into without prejudice to any party seeking any interim 6. Nothing in this Stipulation shall be construed as a waiver of any of the Defendants’ relief. 7 or Plaintiffs’ rights or positions in law or in equity, or as a waiver of any defenses that the 8 Defendants would otherwise have, including, without limitation, jurisdictional defenses. 9 10 Dated: July 23, 2021 11 Respectfully submitted, s/ Gregory L. Watts Gregory L. Watts, WSBA #43995 John C. Roberts Jr., WSBA #44945 Tyre L. Tindall, WSBA #56357 WILSON SONSINI GOODRICH & ROSATI, P.C. 701 Fifth Avenue, Suite 5100 Seattle, WA 98104-7036 Telephone: (206) 883-2500 Facsimile: (206) 883-2699 Email: gwatts@wsgr.com Email: jroberts@wsgr.com Email: ttindall@wsgr.com 12 13 14 15 16 17 18 Attorneys for Defendant Athira Pharma, Inc. 19 24 s/ Sean C. Knowles Sean C. Knowles, WSBA #39893 PERKINS COIE LLP 1201 Third Avenue, Suite 4900 Seattle, WA 98101-3099 Telephone: (206) 359-6224 Facsimile: (206) 359-7224 Email: sknowles@perkinscoie.com 25 Attorney for Defendant Dr. Leen Kawas 20 21 22 23 26 27 STIPULATION AND ORDER TO EXTEND TIME TO RESPOND TO THE COMPLAINT 2:21-cv-00861-TSZ -3- WILSON SONSINI GOODRICH & ROSATI, P.C. 701 Fifth Avenue, Suite 5100 Seattle, WA 98104-7036 Tel: (206) 883-2500 Fax: (206) 883-2699 Case 2:21-cv-00861-TSZ Document 12 Filed 07/26/21 Page 5 of 6 6 s/ Kim D. Stephens Kim D. Stephens, WSBA #11984 Cecily C. Shiel, WSBA #50061 TOUSLEY BRAIN STEPHENS PLLC 1700 Seventh Avenue, Suite 2200 Seattle, WA 98101 Telephone: (206) 682-5600 Facsimile: (206) 682-2992 Email: kstephens@tousley.com Email: cshiel@tousley.com 7 Liaison Counsel for Plaintiffs 1 2 3 4 5 8 14 BLOCK & LEVITON LLP Jeffrey C. Block, pro hac vice forthcoming Jacob A. Walker, pro hac vice forthcoming Nathaniel Silver, pro hac vice forthcoming 260 Franklin Street, Suite 1860 Boston, Massachusetts 02110 Telephone: (617) 398-5600 Facsimile: (617) 507-6020 Email: jeff@blockleviton.com Email: jake@blockleviton.com Email: nate@blockleviton.com 15 Counsel for Plaintiffs 9 10 11 12 13 16 17 18 19 20 21 22 23 24 25 26 27 STIPULATION AND ORDER TO EXTEND TIME TO RESPOND TO THE COMPLAINT 2:21-cv-00861-TSZ -4- WILSON SONSINI GOODRICH & ROSATI, P.C. 701 Fifth Avenue, Suite 5100 Seattle, WA 98104-7036 Tel: (206) 883-2500 Fax: (206) 883-2699 Case 2:21-cv-00861-TSZ Document 12 Filed 07/26/21 Page 6 of 6 1 ORDER 2 3 IT IS SO ORDERED. 4 5 Dated this 26th day of July, 2021. A 6 7 Thomas S. Zilly United States District Judge 8 9 10 11 12 Presented by: 18 Gregory L. Watts, WSBA #43995 John C. Roberts Jr., WSBA #44945 Tyre L. Tindall, WSBA #56357 WILSON SONSINI GOODRICH & ROSATI, P.C. 701 Fifth Avenue, Suite 5100 Seattle, WA 98104-7036 Telephone: (206) 883-2500 Facsimile: (206) 883-2699 Email: gwatts@wsgr.com Email: jroberts@wsgr.com Email: ttindall@wsgr.com 19 Attorneys for Defendant Athira Pharma, Inc. 13 14 15 16 17 20 21 22 23 24 25 26 27 STIPULATION AND ORDER TO EXTEND TIME TO RESPOND TO THE COMPLAINT 2:21-cv-00861-TSZ -5- WILSON SONSINI GOODRICH & ROSATI, P.C. 701 Fifth Avenue, Suite 5100 Seattle, WA 98104-7036 Tel: (206) 883-2500 Fax: (206) 883-2699
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