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Sidley Austin LLP is moving to withdraw as counsel for Puda Coal, Inc. in a securities litigation case due to the resignation of key contacts at Puda Coal and the inability to contact the sole remaining board member. Since September 2011, Puda Coal's CFO, CEO, and two board members have resigned and Sidley has not been paid for its legal fees. With no employees or board members left that Sidley can contact regarding the case, it is requesting the court's permission to withdraw its representation of Puda Coal.

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492 views3 pages

USDNY

Sidley Austin LLP is moving to withdraw as counsel for Puda Coal, Inc. in a securities litigation case due to the resignation of key contacts at Puda Coal and the inability to contact the sole remaining board member. Since September 2011, Puda Coal's CFO, CEO, and two board members have resigned and Sidley has not been paid for its legal fees. With no employees or board members left that Sidley can contact regarding the case, it is requesting the court's permission to withdraw its representation of Puda Coal.

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hoscolodkoc
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© Attribution Non-Commercial (BY-NC)
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UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NErYORK IN RE PUOA COAL SECURITIES C. et al.

LITIGATION

. p
ECFCASE

Civil Action No. 11 CIV Me(PKC)

AFFIDAVIT OF A. ROBERT PIETRZAK IN SUPPORT OF MOTION FOR LEAVE TOWITHDRAT AS COUNSEL TO PUDA COAL INC.

STATE OF NEW YORK COUNTYOFNErYORK


.E . .

A.Robert Pietrzak being duly swom deposes and says:


1 am an attomey duly admitted to practice before this Court and a partner ofthe law firm of Sidley Austin LLP ("Sidley"). 1 submit this Affidavit in support ofSidley's motion for leave to withdraw as counsel ofrecord for defendant Puda Coal Inc. ("Puda Coal") in the above-captioned action. 1 make this affidavit on the basis of personal knowledge. 2. Sidley has appeared on behalf ofPuda Coal only in certain ofthe

pre-consolidation actions by executing stipulations to extend time to respond to the original complaints in the individual actions and in response to the motions to consolidate the actions. 3. Sidley's primary point of contact at Puda Coal was Qiong v.. the

Chief Financial Officer of Puda Coal. Ms. Wu resigned from the Company on or around September 28 2011.

4.

Chief Executive Officer Liping Zhu resigned on or around

September 22 1. Board Member 201 Jianfei Ni resigned on or around December 20 2011. Sidley is unaware of the hiring of any new members of management. 5. Since Ms. Wu's resignation Sidley has received some direction

from two members ofthe Audit Committee ofthe Board ofDirectors Mark Tang and C. Lawrence Wizel. On March 1 2012 Tang and Mr. Wizel resigned from the Board. Mr. 6. Puda Coa l' Board of Directors now has only one remaining s

member Ming Zhao. Mr Zhao has been represented by separate counsel since the initiation of the original pre-consolidation actions. Sidley has never represented Mr. Zhao and has had no direct contact with him. 7. In September 2011 Zhao's counsel withdrew from their Mr.

representation ofhim. Since that time Sidley has had no contact with (and no ability to contact) Mr. Zhao even through counsel. 8. There are no employees or Directors that Sidley has any contact

with or the ability to contact. 9. Sidley has not received any payment ofthe fees incurred to date in

its representation of Puda Coal. 10. 1 am informed and believe that Counsel for plaintiffs and certain

defendants are currently dra a proposed briefing schedule for challenges to the ing Corrected Amended Consolidated Complaint. No dispositive motions have been filed nor any discovery taken.

11.

Accordingly respectfully request that the Court enter an Order 1

permitting Sidley to withdraw as counsel of record for defendant Puda Coal.

-1Z/. z

/
Swom to before me this 'tSth day ofMarch 2012

SS:ZW
....; ZZ. h" ant_ Iv

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