Osher

Osher v. JNI CORP.

Good Law

256 F. Supp. 2d 1144·2003 WL 1860268·2003 U.S. Dist. LEXIS 11118

United States District Court, Southern District of CaliforniaMarch 26, 20033:01-cv-00557California9,332 words

Opinion

Jones, J.

ORDER GRANTING MOTION TO DISMISS [Doc. No. 66] ORDER DENYING MOTION TO STRIKE [Doc. No 71]

This matter comes before the court on defendants’ motion to dismiss and defendants’ motion to strike. For the reasons stated herein, defendants’ motion to dismiss is granted, and the motion to strike is denied as moot.

I. Background

A. 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”). First Am. Consolidated Compl. (“FACC”) ¶ 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.

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 technol ogy improves data communication speeds, connectivity, distance between connections, reliability and accessibility. Id. ¶ 2. JNI markets a broad range of Fibre Channel host bus adapters and software products that facilitate advanced SAN device…

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