In Re Utstarcom, Inc. Securities Litigation

ORDER DENYING DEFENDANTS’ MOTIONS TO DISMISS; GRANTING DEFENDANTS’ MOTIONS TO STRIKE; DENYING MOTIONS TO INTERVENE AND TO STRIKE AS MOOT

7. INTRODUCTION

This is a putative securities fraud class action brought on behalf of investors who acquired UTStarcom, Inc. (“UTStarcom” or “UTSI” or “Company”) securities between February 21, 2003 and October 12, 2007 (the “Class Period”), against UTStarcom and certain of its officers and directors, as well as Softbank Corporation (“SBC”), Softbank America, Inc. (“SBA”), and Softbank Holdings, Inc. (“SBH”) (collectively, “Defendants”). In their Fourth Amended Complaint, Plaintiffs allege Defendants, inter alia, violated §§ 10(b), 14(a), and 20(a) of the Securities Exchange Act of 1934 (“the Exchange Act”).

Presently before the Court are various motions brought by Defendants and a Third Party to this action. The Court conducted a hearing on January 16, 2009. Based on the papers submitted to date and oral argument, the Court DENIES Defendants’ Motions to Dismiss, GRANTS Defendants’ Motions to Strike, DENIES Third-Party’s Motions to Intervene and to Strike as moot.

77. BACKGROUND

The factual and procedural background in this action was…