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UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK
ASHLEY WILSON, Individually and on behalf of
all others similarly situated,
Plaintiff,
v.
PELOTON INTERACTIVE, INC., JOHN FOLEY,
and JILL WOODWORTH,
Defendants.
Case No. 1:21-cv-02369-CBA-PK
CLASS ACTION
STIPULATION AND [PROPOSED] ORDER REGARDING SCHEDULE FOR LEAD
PLAINTIFF TO FILE AN AMENDED COMPLAINT
AND DEFENDANTS’ RESPONSE THERETO
Lead Plaintiff Richard Neswick (“Lead Plaintiff”) and Defendants Peloton Interactive,
Inc. (“Peloton”), John Foley, and Jill Woodworth (“Defendants” and collectively with Lead
Plaintiff, the “Parties”), hereby agree and stipulate to the following schedule for the filing of
Lead Plaintiff’s Amended Complaint (“AC”) and Defendants’ response thereto.
WHEREAS, on April 29, 2021, plaintiff Ashley Wilson filed a complaint in this District
against Defendants for violations of the Securities Exchange Act of 1934. An Amended
Complaint was filed by plaintiff Wilson on May 6, 2021 (“Wilson Action”). Another action
arising under the Exchange Act, brought by Plaintiff Leigh Drori, was filed in this District on
May 24, 2021 (the “Drori Action” and collectively, “the Actions”).
WHEREAS, the Actions are subject to the consolidation and lead plaintiff procedures of
the Private Securities Litigation Reform Act of 1995 (“the PSLRA”), 15 U.S.C. § 78u-4;
WHEREAS, on June 11, 2021, plaintiff Ashley Wilson and Defendants stipulated in the
Wilson Action pursuant to a Stipulation and Proposed Order Regarding Acceptance of Service,
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Time to Respond to Complaint and Adjournment of Initial Conference (“Wilson Stipulation”),
among other things, that within fourteen (14) days after entry of an order appointing a Lead
Plaintiff and Lead Counsel in the action, the Lead Plaintiff and Defendants shall meet and confer
and propose a schedule to the Court for the filing of an amended complaint, or designation of an
operative complaint, and the response thereto (Dkt. No. 98), which Stipulation was so ordered by
the Court on June 14, 2021 (Dkt. No. 103);
WHEREAS, on July 19, 2021, plaintiff Leigh Drori and Defendants stipulated in the
Drori Action pursuant to a Stipulation and Proposed Order Regarding Acceptance of Service and
Time to Respond to Complaint (“Drori Stipulation”) that among other things provided that
within fourteen (14) days after entry of an order appointing a Lead Plaintiff and Lead Counsel in
the action, the Lead Plaintiff and Defendants shall meet and confer and propose a schedule to the
Court for the filing of an amended complaint, or designation of an operative complaint, and the
response thereto (Dkt. No. 17), which Stipulation was granted by the Court by Electronic Order
on July 20, 2021;
WHEREAS, on October 26, 2021, pursuant to the Order Referring Motions to the
Honorable Peggy Kuo on June 29, 2021, Magistrate Judge Kuo issued a Report and
Recommendation (“R&R”) in the Wilson Action recommending that the Wilson Action and the
Drori Action be consolidated, that movant Richard Neswick be appointed Lead Plaintiff, and
that Faruqi & Faruqi, LLP be appointed Lead Counsel (Dkt. No. 37), and on October 26, 2021,
the R&R was entered in the Drori Action (Dkt. No. 19), and any objections to the R&R had to be
filed within fourteen (14) days:
WHEREAS, on November 16, 2021, after no objections had been filed to the R&R, the
Honorable Judge Carol Bagley Amon entered an Order Adopting Report and Recommendation
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and consolidated the Wilson and Drori Actions, appointed Richard Neswick as Lead Plaintiff,
and approved Faruqi & Faruqi, LLP as Lead Counsel;
WHEREAS, on November 18, 2021, the Order Adopting Report and Recommendation
was entered in the Drori Action, the Drori Action was consolidated with the Wilson Action and
the Drori Action was terminated;
WHEREAS, on November 18, 2021, a putative class action complaint for violation of
federal securities laws was filed by the City of Hialeah Employees’ Retirement System against
Defendants and William Lynch in the United States District Court for the Southern District of
New York (“SDNY”), captioned City of Hialeah Employees’ Retirement System v. Peloton
Interactive, Inc., et al., Case No. 1:21-cv-09582 (the “SDNY Action”);
WHEREAS, Defendants contend that there are grounds to transfer the Actions to SDNY
and to consolidate them with the SDNY Action and intend to move to transfer the Actions to
SDNY in order to then consolidate the Actions with the SDNY Action;
WHEREAS, Lead Plaintiff disputes that there is any basis to transfer and consolidate the
Actions with the SDNY Action and will oppose such a motion to transfer and consolidate if such
a motion is filed;
WHEREAS, pursuant to the Wilson Stipulation and the Drori Stipulation, the Parties
have met and conferred on Defendants’ motion to transfer, the schedule for the AC and
Defendants’ response thereto; and
NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED by the Parties
hereto through their undersigned counsel, subject to approval of the Court, as follows:
1.
Lead Plaintiff shall file the AC within sixty (60) days of the entry of the Court’s
order granting this Stipulation and Proposed Order;
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2.
Defendants shall answer or otherwise respond to the AC within sixty (60) days of
service of the AC;
3.
If Defendants move to dismiss the AC, Lead Plaintiff’s response to Defendants’
motion(s) shall be filed within forty-five (45) days, and Defendants’ reply shall be filed within
thirty (30) days thereafter; and
4.
Defendants shall file any letter seeking a pre-motion conference with the Court on
their motion to transfer within fourteen (14) days of the entry of the Court’s order granting this
Stipulation and Proposed Order.
IT IS SO STIPULATED.
Dated: November 30, 2021
FARUQI & FARUQI, LLP
By:
/s/ James M. Wilson, Jr.
James M. Wilson, Jr.
James M. Wilson, Jr.
Robert W. Killorin (pro hac vice forthcoming)
685 Third Avenue, 26th Floor
New York, NY 10017
Telephone: 212-983-9330
Facsimile: 212-983-9331
Email: jwilson@faruqilaw.com
rkillorin@faruqilaw.com
Attorneys for Lead Plaintiff and Lead Counsel for
the Putative Class
LATHAM & WATKINS LLP
By:
/s/ Andrew Clubok
Andrew Clubok
Steven N. Feldman (pro hac vice)
1271 Avenue of the Americas
New York, NY 10020
Telephone: (212) 906-1200
Facsimile: (212) 751-4864
Email: andrew.clubok@lw.com
steve.feldman@lw.com
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Susan E. Engel
555 Eleventh Street, NW
Washington, D.C. 20004
Telephone: (202) 637-2200
Facsimile: (202) 637-2201
Email: susan.engel@lw.com
Michele D. Johnson (pro hac vice)
650 Town Center Drive
20th Floor
Costa Mesa, California 92626
Telephone: (714) 540-1235
Facsimile: (714) 755-8290
Email: michele.johnson@lw.com
William J. Trach (pro hac vice)
200 Clarendon Street
Boston, Massachusetts 02116
Telephone: (617) 948-6000
Facsimile: (617) 948-6001
Email: william.trach@lw.com
Counsel for Defendants Peloton Interactive, Inc.,
John Foley, and Jill Woodworth
PURSUANT TO STIPULATION, IT IS SO ORDERED
Dated: ______________, 2021
_________________________________________
THE HONORABLE CAROL BAGLEY AMON
UNITED STATES DISTRICT COURT JUDGE