Osher

Osher v. JNI CORP.

Good Law

302 F. Supp. 2d 1145·2003 WL 23208275·2003 U.S. Dist. LEXIS 18199

United States District Court, Southern District of CaliforniaAugust 25, 2003CIV.01 CV 557-J (NLS)California9,467 words

Opinion

Jones, J.

ORDER GRANTING MOTION TO DISMISS SECOND AMENDED CONSOLIDATED COMPLAINT [Doc. No. 105]

By order dated March 26, 2003 the Court dismissed Plaintiffs’ First Amended Consolidated Complaint (“FACC”) without prejudice and with leave to amend. On May 27; 2003 Plaintiffs filed their Second Amended Consolidated Complaint (“SACC”). Defendants move to dismiss the SACC. The Court finds this matter suitable for decision on the papers and without oral argument pursuant to Civil Local Rule 7.2(d)(1).

Background

I. Factual History

Plaintiffs represent a class of all purchasers of common stock of JNI Corporation (“JNI”) between July 13, 2000 and March 28, 2001 (the “class period”). SACC ¶ 1. Plaintiffs allege that JNI’s officers and directors conspired to artificially inflate the price of JNI stock during the class period so they could sell off their personal holdings of JNI stock at inflated prices. Id. ¶ 3.

JNI designs and supplies Fibre Channel hardware and software products that connect computer servers and data storage devices to form storage area networks (“SANs”). Id. ¶ 2. Fibre Channel technology improves data communication speeds, connectivity, distance between connections,…

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