IN RE NEOVASC INC. SECURITIES LITIGATION

Background

The court had consolidated the actions and, on January 26, 2021, appointed Pratap Golla as lead plaintiff and approved Pomerantz LLP and Holzer and Holzer LLC as co-lead counsel for the purported class. That order required the consolidated amended complaint to be filed by February 19, 2021.

Request and Positions

On behalf of Golla, counsel requested a 30-day extension through March 19, 2021. Counsel cited an opposition to a motion to dismiss due February 19, an appellate brief due March 5, a tentative March 15 trial in a pro bono criminal case, and a preplanned vacation at the end of March. The letter stated that this was the plaintiff’s first extension request.

The defendants opposed the extension. According to the letter, they relied on alleged deficiencies in the initial complaint. The plaintiff responded that the court had already denied the defendants’ request for a pre-motion conference without prejudice to renewal after the consolidated amended complaint was filed, and argued that the defendants’ objections did not address the scheduling conflicts.

Ruling

Judge Philip M. Halpern granted the application and extended the time to serve and file the consolidated amended complaint to March 19, 2021. The order states that deadlines were extended as set forth in the order, but the opinion text specifically identifies the consolidated amended complaint deadline as extended to that date.