In Re Wyse Technology Securities Litigation

MEMORANDUM OPINION AND ORDER

Defendants, Wyse Technology Incorporated, Bernard K. Tse, Phillip W. White, Howard H. Graham, Laurence D. Lummis, Ronald E.F. Codd, Frank J. Caulfield, and James P. Lally (collectively “Wyse Technology”) and Arthur Young & Company (“Arthur Young”), filed separate motions to dismiss each of the three counts of plaintiffs’ consolidated amended complaint (“amended complaint”) for violation of the federal securities laws and pendent state law claims.

Count I of the complaint charges defendants with conspiracy to violate Section 10(b) of the Securities and Exchange Act and Rule 10b-5 promulgated thereunder. Count II charges conspiracy to commit fraud and deceit with respect to the purchasers of Wyse Technology stock. Count III alleges negligent misrepresentation through misleading statements and omissions of material fact to plaintiffs, who, in reliance on those facts were induced to purchase Wyse Technology common stock.

Wyse Technology also filed a motion to renew the stay of discovery.

After consideration of the papers filed in support of and in opposition to the motions, and good cause appearing therefor, the amended complaint is dismissed, and the…