Brodsky
Brodsky v. Yahoo! Inc.
Opinion
Opinion
Wilken, J.
ORDER GRANTING DEFENDANTS’ MOTION TO DISMISS
In this securities fraud class action, Defendants Yahoo! Inc., Terry S. Semel, Susan L. Decker, Farzad Nazem and Daniel Rosensweig move to dismiss the Second Amended Consolidated Complaint (SAC). Lead Plaintiffs Pension Trust Fund for Operating Engineers and Pompano Beach Police and Firefighters’ Retirement Systems oppose the motion. The motion was heard on April 23, 2009. Having considered all of the parties’ papers and oral argument on the motion, the Court grants Defendants’ motion.
BACKGROUND
Defendant Yahoo! is a global internet services company headquartered in Sunnyvale, California. The four individual Defendants are Terry S. Semel, former Chairman and Chief Executive Officer; Susan L. Decker, YahooFs current President and former Chief Financial Officer and its Executive Vice President of Finance and Administration during the Class Period; Farzad Nazem, former Chief Technology Officer; and Daniel L. Rosensweig, former Chief Operating Officer.
Lead Plaintiffs and Ellen Brodsky purport to represent a class of persons and entities that bought common stock of Yahoo! between April 8, 2004 and July 18, 2006 (Class…