Schweiger v. Ultra Clean Holdings, Inc.
Schweiger
Court
District Court, N.D. California
Decided
June 27, 2025
Jurisdiction
FD
Importance
44%
Case Summary
1 2 3 4 UNITED STATES DISTRICT COURT 5 NORTHERN DISTRICT OF CALIFORNIA 6 7 OFIR SCHWEIGER, Case No. 25-cv-02768-JSC 8 Plaintiff, ORDER RE MR. ERGÜL İLASLAN’S 9 v. MOTION TO APPOINT LEAD PLAINTIFF 10 ULTRA CLEAN HOLDINGS, INC., et al., Re: Dkt. Nos. 19, 23, 26, 30 Defendants. 11 12 13 Plaintiff Ofir Schweiger instituted this putative class action against Ultra Clean Holdings 14 and two individuals (“Defendants”) for making materially false and misleading statements and 15 omissions to artificially inflate the price of its stock in violation of the Securities Exchange Act, 16 (“PSLRA”), and related regulations. (Dkt. No. 1.)1 Notice of the action was made on March 24, 17 2025 and filed with the Court on April 11, 2025. (Dkt. Nos. 9, 9-1.) Subsequently, four putative 18 class members (collectively “movants”) moved for appointment as lead plaintiff and for approval 19 of their respective selections of lead counsel. (Dkt. Nos. 19, 23, 26, 30.) After opening briefs 20 were filed, two movants withdrew their motions and one submitted a motion of non-opposition. 21 (Dkt. Nos. 33, 35, 37.) So, before the Court is Mr. İlaslan’s unopposed motion for appointment as 22 lead plaintiff and approval of his selection of lead counsel. (Dkt. No. 15.) Having carefully 23 considered the briefing, the Court concludes oral argument is unnecessary, see Civ. L. R. 7-1(b), 24 and GRANTS the unopposed motion. Mr. İlaslan has demonstrated the largest financial interest in 25 the litigation and made a prima facie showing he is an adequate and typical class representative. 26 27 1 DISCUSSION 2 The complaint alleges two claims against Defendants under §§ 10(b) and 20(a) of the 3 PSLRA, 15 U.S.C. § 78j(b), and Rule 10b-5. (Dkt. No. 1 ¶¶ 10, 67-77.) Mr. İlaslan now seeks 4 appointment as lead plaintiff pursuant to § 78u-4(a)(3)(B)(i) and approval of his selection of 5 counsel pursuant to § 78u-4(a)(3)(B)(v). 6 I. Appointment as Lead Plaintiff 7 The Court must appoint “as lead plaintiff the member or members of the purported 8 plaintiff class that the court determines to be most capable of adequately representing the interests 9 of class members.” 15 U.S.C. § 78u-4(a)(3)(B)(i). The PSLRA presumes “the most adequate 10 plaintiff” is the individual who (1) “has either filed the complaint or made a motion in response to 11 a notice”; (2) “has the largest financial interest in the relief sought by the class”; and (3) 12 “otherwise satisfies the requirements of Rule 23 of the Federal Rules of Civil Procedure.” Id. § 13 78u-4(a)(3)(B)(iii)(I). This presumption “may be rebutted only upon proof by a member of the 14 purported plaintiff class that the presumptively most adequate plaintiff—” (1) “will not fairly and 15 adequately protect the interests of the class; or” (2) “is subject to unique defenses that render such 16 plaintiff incapable of adequately representing the class.” Id. § 78u-4(a)(3)(B)(iii)(II). 17 Because notice of the action was sent on March 24, 2025 and filed with the Court on April 18 11, 2025, the deadline to move for appointment as lead plaintiff was May 23, 2025. (Dkt. Nos. 9, 19 9-1.) Mr. İlaslan timely filed a “motion in response to a notice” for appointment as lead plaintiff, 20 thereby satisfying the first element of the § 78u-4(a)(3)(B)(iii)(I) presumption. (Dkt. No. 15.) 21 Though three other motions were filed, two motions were subsequently withdrawn and the other 22 was supplemented with a notice of non-opposition. (Dkt. Nos. 33, 35, 37.) So, Mr. İlaslan’s 23 motion is the only motion currently pending before the Court. 24 The second element of the most adequate plaintiff presumption
Case Details
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Status
Decided
Date Decided
June 27, 2025
Jurisdiction
FD
Court Type
federal
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1
2
3
4 UNITED STATES DISTRICT COURT
5 NORTHERN DISTRICT OF CALIFORNIA
6
7 OFIR SCHWEIGER, Case No. 25-cv-02768-JSC
8 Plaintiff,
ORDER RE MR. ERGÜL İLASLAN’S
9 v. MOTION TO APPOINT LEAD
PLAINTIFF
10 ULTRA CLEAN HOLDINGS, INC., et al.,
Re: Dkt. Nos. 19, 23, 26, 30
Defendants.
11
12
13 Plaintiff Ofir Schweiger instituted this putative class action against Ultra Clean Holdings
14 and two individuals (“Defendants”) for making materially false and misleading statements and
15 omissions to artificially inflate the price of its stock in violation of the Securities Exchange Act,
16 (“PSLRA”), and related regulations. (Dkt. No. 1.)1 Notice of the action was made on March 24,
17 2025 and filed with the Court on April 11, 2025. (Dkt. Nos. 9, 9-1.) Subsequently, four putative
18 class members (collectively “movants”) moved for appointment as lead plaintiff and for approval
19 of their respective selections of lead counsel. (Dkt. Nos. 19, 23, 26, 30.) After opening briefs
20 were filed, two movants withdrew their motions and one submitted a motion of non-opposition.
21 (Dkt. Nos. 33, 35, 37.) So, before the Court is Mr. İlaslan’s unopposed motion for appointment as
22 lead plaintiff and approval of his selection of lead counsel. (Dkt. No. 15.) Having carefully
23 considered the briefing, the Court concludes oral argument is unnecessary, see Civ. L. R. 7-1(b),
24 and GRANTS the unopposed motion. Mr. İlaslan has demonstrated the largest financial interest in
25 the litigation and made a prima facie showing he is an adequate and typical class representative.
26
27
1 DISCUSSION
2 The complaint alleges two claims against Defendants under §§ 10(b) and 20(a) of the
3 PSLRA, 15 U.S.C. § 78j(b), and Rule 10b-5. (Dkt. No. 1 ¶¶ 10, 67-77.) Mr. İlaslan now seeks
4 appointment as lead plaintiff pursuant to § 78u-4(a)(3)(B)(i) and approval of his selection of
5 counsel pursuant to § 78u-4(a)(3)(B)(v).
6 I. Appointment as Lead Plaintiff
7 The Court must appoint “as lead plaintiff the member or members of the purported
8 plaintiff class that the court determines to be most capable of adequately representing the interests
9 of class members.” 15 U.S.C. § 78u-4(a)(3)(B)(i). The PSLRA presumes “the most adequate
10 plaintiff” is the individual who (1) “has either filed the complaint or made a motion in response to
11 a notice”; (2) “has the largest financial interest in the relief sought by the class”; and (3)
12 “otherwise satisfies the requirements of Rule 23 of the Federal Rules of Civil Procedure.” Id. §
13 78u-4(a)(3)(B)(iii)(I). This presumption “may be rebutted only upon proof by a member of the
14 purported plaintiff class that the presumptively most adequate plaintiff—” (1) “will not fairly and
15 adequately protect the interests of the class; or” (2) “is subject to unique defenses that render such
16 plaintiff incapable of adequately representing the class.” Id. § 78u-4(a)(3)(B)(iii)(II).
17 Because notice of the action was sent on March 24, 2025 and filed with the Court on April
18 11, 2025, the deadline to move for appointment as lead plaintiff was May 23, 2025. (Dkt. Nos. 9,
19 9-1.) Mr. İlaslan timely filed a “motion in response to a notice” for appointment as lead plaintiff,
20 thereby satisfying the first element of the § 78u-4(a)(3)(B)(iii)(I) presumption. (Dkt. No. 15.)
21 Though three other motions were filed, two motions were subsequently withdrawn and the other
22 was supplemented with a notice of non-opposition. (Dkt. Nos. 33, 35, 37.) So, Mr. İlaslan’s
23 motion is the only motion currently pending before the Court.
24 The second element of the most adequate plaintiff presumption
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Case Details
Legal case information
Status
Decided
Date Decided
June 27, 2025
Jurisdiction
FD
Court Type
federal
Legal Significance
Case importance metrics
Metadata
Additional information
Quick Actions
Case management tools