In Re Cadence Design Systems, Inc. Securities Lit.

In Re Cadence Design Systems, Inc. Securities Litigation

Good Law

692 F. Supp. 2d 1181·2010 U.S. Dist. LEXIS 19003

United States District Court, Northern District of CaliforniaMarch 2, 2010This Order Relates to: Case Nos. 08-4966 SC, 08-5027 SC, and 08-5273 SC. Case No. 08-4966 SCCalifornia5,694 words

Opinion

Conti, J.

ORDER DENYING MOTION TO DISMISS

I. INTRODUCTION

Now before the Court is a Motion to Dismiss the First Amended Complaint, filed by Defendant Cadence Design Systems, Inc. (“Cadence”), as well as Cadence’s former CEO, Michael J. Fister (“Fister”), Senior Vice President and CFO Kevin Palatnik (“Palatnik”), former Executive Vice President and CAO William Porter (“Porter”), and former Executive Vice President of Worldwide Field Operations, Kevin Bushby (“Bushby;” collectively with other individuals, “Individual Defendants,” and with Cadence, “Defendants”). Docket No. 57 (“Motion”). Plaintiffs, including lead plaintiff Alaska Electrical Pension Fund, submitted the First Amended Complaint after this Court granted Defendants’ prior motion to dismiss the Consolidated Amended Complaint. Docket Nos. 53 (“FAC”), 48 (“MTD Order”), 39 (“CAC”). The Motion is fully briefed. Docket Nos. 62 (“Opp’n”), 65 (“Reply”).

Having considered all of the papers submitted, the Court concludes that this matter is appropriate for decision without oral argument. The Court is satisfied that the additional allegations and details pled by the FAC are now sufficient to meet the requirements set out in the Public…

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