In Re Lockheed Martin Corp. Securities Litigation
Opinion
Opinion
Pfaelzer, J.
Defendants’ Motion to Dismiss Plaintiffs’ Consolidated Second Amended Class Action Complaint
Plaintiffs bring this class action on behalf of individuals who purchased Lockheed Martin Corporation stock between August 13, 1998 and December 23, 1998 (“the Class Period”). Lockheed and six of its top officers and directors — Vance Coff-man, Marcus Bennett, Norman Augustine, Vincent Marafino, James Blackwell, and Thomas Corcoran — are defendants (hereinafter “Lockheed”). Plaintiffs’ claims arise under §§ 10(b) & 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.
On October 3, 2000 this Court granted a Motion to Dismiss Plaintiffs’ Consolidated Amended Class Action Complaint but pro vided leave to amend certain specified alie-gations. See Class Action Order (October 3, 2000). Plaintiffs filed their Consolidated Second Amended Complaint (“CSAC”) on December 15, 2000. Defendants second motion to dismiss was filed shortly thereafter. The Court heard oral argument on October 29, 2001 and took the matter under submission.
TABLE OF CONTENTS
I.INTRODUCTION.931
II.USING EVIDENCE OF INSIDER TRADING TO ESTABLISH SCIENTER: AUGUSTINE & MARAFINO.932