In Re Remec Incorporated Securities Litigation

ORDER RULING ON PENDING MOTIONS;

[Doc. Nos. 173, 194, 263, 308, 310, 336]

DISMISSING CASE WITH PREJUDICE

Currently pending before the Court are four summary judgment motions and several evidentiary motions in these consolidated securities fraud cases against Defendants REMEC, Inc., Ronald E. Ragland, and Winston E. Hickman. In sum, for the reasons stated below, and because the Court finds that Defendants are entitled to summary judgment on the element of scienter, judgment shall be entered in favor of Defendants and the case shall be dismissed with prejudice.

1. Background

A. Basic Facts

Defendant REMEC, Inc. (“REMEC”) designed and manufactured “high frequency subsystems used in the transmission of voice, video and data traffic over wireless communications networks and in space and defense electronics applications.” FAC ¶2. This action concerns REMEC’s Commercial segment (also known as the Wireless Systems division). Defendant Ronald Ragland, an engineer, founded REMEC in 1983 and served as its Chief Executive Officer (“CEO”) and Chairman of the Board of Directors until February 2004. Ragland Decl. ¶¶ 3-4. In November 2003, REMEC purchased Paradigm Wireless Systems, Inc.,…