In re ChargePoint Holdings, Inc. Derivative Litigation

United States District Court for the Northern District of California

In re ChargePoint Holdings, Inc. Derivative Litigation

Trial Court Opinion

1 2 3 4 5 UNITED STATES DISTRICT COURT 6 NORTHERN DISTRICT OF CALIFORNIA 7 8 Case No. 24-cv-00149-EKL 9 IN RE CHARGEPOINT HOLDINGS, INC. (Consolidated) 10 DERIVATIVE LITIGATION _____________________________________ 11 ORDER TO SHOW CAUSE AS TO WHY THE CASE SHOULD NOT 12 This Document Relates to: BE STAYED ALL ACTIONS 13 14 15 16 Having reviewed the Parties’ Joint Case Management statement filed on September 16, 17 2024, ECF No. 51, it appears a stay in this action may be appropriate. This case raises similar 18 allegations to the securities class action that is before this Court in Khan v. ChargePoint Holdings, 19 Inc., 23-cv-06172-EKL. “Courts generally stay a shareholder derivative suit until the culmination 20 of a securities class action when the cases arise from the same factual allegations and the evidence 21 in the former could jeopardize the company’s defense in the latter.” In re STEC, Inc. Derivative 22 Litig., No. CV 10-00667-JVS (MLGx),

2012 WL 8978155

, at *4 (C.D. Cal. Jan. 11, 2012); see also, 23 e.g., In re RH S’holder Derivative Litig., No. 18-cv-02452-YGR,

2019 WL 580668

, at *3–5 (N.D. 24 Cal. Jan. 23, 2019). 25 26 27 / / 1 The Parties shall meet and confer to discuss whether a stipulated stay may be entered in this 2 || case. No later than November 1, 2024, the Parties shall file either a stipulation and proposed order 3 staying this case or a joint written response showing cause as to why this case should not be stayed. 4 Unless otherwise ordered, the matter will be taken under submission without oral argument. The 5 Court sets a status conference on February 12, 2025, at 1:30 p.m. via Zoom. This hearing will be 6 || vacated if this action is stayed. 7 IT IS SO ORDERED. 8 Dated: October 1, 2024 9 10 Eumi K. Lee I United States District Judge 12

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Reference

Status
Unknown