Osher

Osher v. JNI CORP.

Good Law

308 F. Supp. 2d 1168·2004 WL 527828·2004 U.S. Dist. LEXIS 10031

United States District Court, Southern District of CaliforniaMarch 10, 200401 CV 557 J(NLS)California13,206 words

Opinion

Jones, J.

ORDER: (1) DENYING DEFENDANTS’ REQUEST FOR JUDICIAL NOTICE [Doc. No. 126](2) GRANTING MOTION TO DISMISS THIRD AMENDED CONSOLIDATED COMPLAINT [Doc. No. 124]

By order dated August 25, 2003, the Court dismissed Plaintiffs’ Second Amended Consolidated Complaint (“SACC”) without prejudice and with leave to amend. On October 31, 2003, Plaintiffs filed their Third Amended Consolidated Complaint (“TACC”). Defendants have now moved to dismiss the TACC. (Doc. No. 124.) The Court finds this matter suitable for decision on the papers and without oral argument pursuant to Civil Local Rule 7.2(d)(1).

Background

I. 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”). (TACC ¶ 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 their personal holdings of JNI stock at inflated prices. (Id. ¶ 3.)

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…

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