In re Vicor Securities Litigation

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 9 IN RE VICOR SECURITIES LITIGATION Case No. 24-cv-04196-RS

ORDER GRANTING MOTION TO

DISMISS

I. INTRODUCTION In this case, a putative class of short-sellers have sued a publicly traded corporation over alleged misrepresentations that spurred a dramatic rise in values. Plaintiffs aver that, when these alleged misrepresentations came to light, stock prices plummeted. Having had to cover their short positions in light of the initial rise, Plaintiffs seek damages under the Exchange Act. Defendants move to dismiss the allegations, contending that no misrepresentations were made and that, at any rate, they lacked the necessary scienter to be found liable. For the reasons explained below, Defendants’ motion is granted, and the operative complaint is dismissed with leave to amend. II. BACKGROUND According to Plaintiffs’ first amended complaint (“FAC”), Dkt. No. 27, Defendant Patrizio …