You're viewing Docket Item 123 from the case Securities and Exchange Commission v. Jenkins. View the full docket and case details.

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Case 2:09-cv-01510-RJB Document 123 Filed 03/24/11 Page 1 of 4

JOHN W. SPIEGEL (pro hac vice)
[email protected]
GREGORY J. WEINGART (pro hac vice)
[email protected]
MATTHEW A. MACDONALD (pro hac vice)
[email protected]
MUNGER, TOLLES & OLSON LLP
355 South Grand Avenue
Thirty-Fifth Floor
Los Angeles, CA 90071-1560
Telephone: (213) 683-9100
Facsimile:
(213) 687-3702
Attorneys for Defendant
MAYNARD L. JENKINS

UNITED STATES DISTRICT COURT

DISTRICT OF ARIZONA

SECURITIES AND EXCHANGE
COMMISSION,

CASE NO. CV-09-01510-PHX-RJB

Plaintiff,

vs.

MAYNARD L. JENKINS,
Defendant.

STIPULATION BETWEEN
PLAINTIFF SEC AND
DEFENDANT MAYNARD
JENKINS RE: SETTLEMENT AND
STAY OF PROCEEDINGS

This stipulation is made by and between plaintiff the Securities and

Exchange Commission (“SEC”), on the one hand, and defendant Maynard L.
Jenkins with respect to the following recitals:

WHEREAS, Mr. Jenkins and the Staff of the Securities and Exchange

Commission have reached a tentative settlement agreement to resolve this matter;

WHEREAS, such tentative settlement agreement is subject to

approval by the Securities and Exchange Commissioners (the “Commission”), a
process that the parties anticipate will take between thirty and sixty days;

WHEREAS, if approved, the settlement agreement will avoid the

need for the parties to spend further resources prosecuting or defending these

STIP BTWN PLTFF SEC & DEFT JENKINS RE:
SETTLEMENT & STAY OF PROCEEDINGS

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Case 2:09-cv-01510-RJB Document 123 Filed 03/24/11 Page 2 of 4

claims;

WHEREAS, the Court has expressed concerns about the burden that
that continued indemnified legal costs will impose on CSK Auto Corporation, the
potential beneficiary of any monetary judgment awarded in this case (see Dkt. No.
122 at 8-9);

WHEREAS, the parties have agreed that their interests -- as well as
the interests of CSK Auto Corporation and the Court -- would best be served by a
complete litigation standstill pending the Commission’s consideration of the
tentative settlement;

NOW, THEREFORE, THE SEC AND MR. JENKINS HEREBY

STIPULATE AND REQUEST THE COURT ORDER AS FOLLOWS:

1.

Pending final approval of the settlement by the Securities and
Exchange Commissioners, any and all pending and/or future deadlines, including
those regarding discovery, disclosures, and motion practice, shall be stayed;
The Court need not further consider or decide the pending

2.

summary adjudication motion pending completion of the settlement;

3.

The failure by any party to participate in depositions or other
discovery being taken in related actions -- including SEC v. Fraser, CV 09-00443
PHX-RJB -- during the pendency of this stay shall not preclude said party from
later taking such deposition or other discovery should the settlement be rejected;
Either party may terminate the stay on fourteen days’ written

4.

notice to the Court and the other party;

5.

In the event that the settlement is not approved, the deadline for

the completion of discovery in this action, as well as all other deadlines, shall be
extended by sixty days from entry of this order.

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STIP BTWN PLTFF SEC & DEFT JENKINS RE:
SETTLEMENT & STAY OF PROCEEDINGS

Case 2:09-cv-01510-RJB Document 123 Filed 03/24/11 Page 3 of 4

DATED: March 24, 2011

Munger, Tolles & Olson LLP

MATTHEW A. MACDONALD

DATED: March 24, 2011

By: /s/

MATTHEW A. MACDONALD

Attorneys for Defendant
MAYNARD L. JENKINS

Securities and Exchange Commission

DONALD W. SEARLES

By: /s/

DONALD W. SEARLES

Attorneys for Plaintiff
SECURITIES AND EXCHANGE
COMMISSION

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STIP BTWN PLTFF SEC & DEFT JENKINS RE:
SETTLEMENT & STAY OF PROCEEDINGS

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Case 2:09-cv-01510-RJB Document 123 Filed 03/24/11 Page 4 of 4

CERTIFICATE OF SERVICE

I am employed in the County of Los Angeles, State of California. I am

over the age of 18 and not a party to this action. My business address is 355 S.
Grand Ave., Los Angeles, California, 90071.

I hereby certify that on March 24, 2011, I used the CM/ECF system to

transmit a Notice of Electronic Filing to all attorneys of record registered for
CM/ECF service in the instant action, notifying them of the filing of the following
document: STIPULATION BETWEEN PLAINTIFF SEC AND DEFENDANT
MAYNARD JENKINS RE: SETTLEMENT AND STAY OF
PROCEEDINGS.

I declare under penalty of perjury that the foregoing is true and correct,

and that this declaration was executed at Los Angeles, California on March 24,
2011.

/s/ Gigi Ruegsegger
Gigi Ruegsegger

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STIP BTWN PLTFF SEC & DEFT JENKINS RE:
SETTLEMENT & STAY OF PROCEEDINGS