In Re Apple Computer Securities Litigation

ORDER GRANTING SUMMARY JUDGMENT AND DENYING MOTION TO AMEND COMPLAINT

1. INTRODUCTION.

After a hiatus of several months digesting the Court’s order denying plaintiffs’ motion for reconsideration, defendants’ have brought a motion for summary judgment against the three remaining actionable statements made by Apple officials. The basis for the motion, inter alia, is that defendants’ lacked scienter within the meaning of the securities laws. Not to be left motionless, plaintiffs have filed a countermotion to amend the complaint. Plaintiffs seek to add three California causes of action to their complaint which would exactly track the federal § 10(b) and Rule 10b-5 claims. As explained below, the Court will grant the motion for summary judgment and thereby moot plaintiffs’ motion to amend.

II. FACTS.

The facts of this case have been detailed in a previous ruling of this Court. See, e.g., Order Granting In Large Part Defendants’ Motion for Summary Judgment (April 30, 1987) (hereafter the “Order”). The net effect of the Order and the Court’s subsequent ruling in response to a motion for reconsideration was that the Court rejected 15 of the 18 statements which formed the basis of…