Allison
Allison v. Brooktree Corp.
Opinion
Opinion
Miller, J.
ORDER GRANTING DEFENDANTS’ MOTION TO DISMISS; GRANTING LEAVE TO AMEND
Defendants Brooktree Corporation (“Brooktree”), James A. Bixby, Jerry E. Canning, Stewart Kelly, Robert W. Zabaronick, David C. Gelvin and Edward P. Holtaway move to dismiss the complaint pursuant to Fed. R.Civ.P. 12(b)(6) and the Private Securities Litigation Reform Act of 1995 (“PSLRA”). Plaintiffs Murray Allison and Isabel Sperber oppose the motions. Having carefully considered the papers submitted, the record before the court, the oral arguments of counsel, and the applicable authority, the court grants Defendants’ motion to dismiss and grants plaintiffs 45 days from the date of entry of this order to file an amended complaint.
BACKGROUND
Brooktree is a San Diego based high-tech company that designs, develops and markets high-performance integrated circuits for use with graphics, imaging, communications and multimedia applications. (Compl. ¶ 2). This class action was brought on behalf of all purchasers of Brooktree common stock between February 13, 1995, and February 7, 1996 (the “Class Period”). The essence of the complaint is that Defendants made materially false and misleading statements concerning…