Chin v. KE Holdings Inc.
Chin v. KE Holdings Inc.
Trial Court Opinion
Robbins Geller Chicago Melville Nashville San Diego Wilmington Rudmang Dowd LLP Boca Raton Manhattan Philadelphia San Francisco Washington, D.C. USDC SDNY DOCUMENT Bin Boardman ELECTRONICALLY FILED [email protected] DOC #: DATE FILED: 4/24/25 MEMORANDUM ENDORSED April 24, 2025 VIA ECF The Honorable Gregory H. Woods, U.S.D.J. United States District Court Southern District of New York Daniel Patrick Moynihan United States Courthouse 500 Pearl Street, Room 2260 New York, NY 10007-1312 Re: Chin vy. KE Holdings Inc., et al., Case No. 1:21-cv-11196 (GHW) (BCM) (S.D.N.Y.) Dear Judge Woods: Pursuant to Your Honor’s Individual Rules 1(F) and 4(E), the Parties! jointly submit this letter in support of the [Proposed] Order to stay all pending deadlines in this case pending submission of a motion for preliminary approval of the settlement or a motion to lift the stay. There is a good cause to stay pending deadlines because the Parties have reached an agreement in principle to settle this case.” Each of the Parties agrees to this request. The Court has authority to stay case deadlines pending submission of a motion for preliminary approval or a motion to lift the stay as part of its inherent powers to manage its docket for judicial efficiency. See, e.g., Comcast Corp. v. Rovi Corp.,
2017 WL 2062989, at *3 (S.D.N.Y. May 15, 2017) (“[T]he power to stay proceedings is incidental to the power inherent in every court to control the disposition of the causes on its docket with economy of time and effort for itself, for counsel, and for litigants.”) (quoting Landis v. N. Am. Co.,
299 U.S. 248, 254(1936)).
| The “Parties” are Lead Plaintiff Saskatchewan Healthcare Employees’ Pension Plan (“Plaintiff”) and Defendants KE Holdings Inc. (“KE Holdings”), Colleen A. De Vries, Goldman Sachs (Asia) L.L.C., Morgan Stanley & Co, LLC, J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and China Renaissance Securities (US) Inc. (collectively, “Defendants”). 2 On April 15, the Parties filed a letter informing Magistrate Judge Moses of this development and requesting the Court to stay all current deadlines pending submission of a motion for preliminary approval of the settlement or a motion to lift the stay (ECF No. 153). Magistrate Judge Moses adjourned the scheduled April 22 status conference only (ECF No. 154).
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The Honorable Gregory H. Woods April 24, 2025 Page 2
We thank the Court for its attention to this matter.
Respectfully submitted,
ERIN W. BOARDMAN cc: All Counsel of Record (via ECF) Application granted. ‘The parties’ request for a stay of this case in light of their agreement in principle on a settlement, Dkt. No. 156, is granted. All pending deadlines in this case are stayed pending submission of a motic for preliminary approval of the settlement or a motion to lift the stay. In light of the parties’ anticipated settlement, Lead Plaintiffs motion for class certification, appointment as class representative, and appointment of class counsel, Dkt. No. 143, is deemed withdrawn. ‘The parties may request leave to resubmit the motion should a settlement not be consummated. The Clerk of Court is directed to note the stay of this case on the docket and to terminate the motion pending at Dkt. No. 143. SO ORDERED. Dated: April 24, 2025 A Lo, ( New York, New York GRE H. WOODS United States District Judge
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