Armour

Armour v. Network Associates, Inc.

Good Law

171 F. Supp. 2d 1044·2001 WL 969008·2001 U.S. Dist. LEXIS 7566

United States District Court, Northern District of CaliforniaJune 5, 2001C 00-4849 MJJ, C 01-0860, C 01-0831, C 01-00007, C 01-0861, C 01-0856, C 01-0008, C 01-0599, C 01-1575, C 01-20183California6,375 words

Opinion

Jenkins, J.

ORDER APPOINTING LOUISIANA TEACHERS’ RETIREMENT SYSTEM OF LOUISIANA LEAD PLAINTIFF AND APPROVING ITS CHOICE OF COUNSEL

Before the Court are three competing motions regarding the appointment of lead plaintiff and approval, of lead counsel in this securities fraud class action lawsuit brought against Network Associates, Inc. (“Network Associates”) and two of its corporate officers. The members of the purported class that seek to be appointed lead plaintiff and to have the Court approve their choice of lead counsel are (1) the Louisiana Teachers’ Retirement System of Louisiana (“Louisiana Teachers”), (2) the Iowa Bakers Local 433 Pension Fund and Twin Cities Bakery Drivers Local 289 Pension Fund (the “Bakers Pension Funds”), and (3) Raymond E. Morales (“Morales”). Having considered the papers submitted by the parties and the arguments of counsel at the May 8, 2001 hearing on this matter, and for the reasons set forth below, the Court hereby appoints Louisiana Teachers’ as lead plaintiff in this action and approves Louisiana Teachers’ choice of counsel.

I. Factual Background

This matter involves eleven related class actions that have been consolidated for resolution in this Court.…

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