In Re Cadence Design Systems, Inc. Securities

ORDER GRANTING MOTION TO DISMISS

I. INTRODUCTION

This is a dispute involving securities fraud allegedly committed by Defendant Cadence Design Systems, Inc. (“Cadence”). The Consolidated Amended Complaint (“CAC”) also names as defendants 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. 39, ¶¶ 26-29. Plaintiffs, including lead plaintiff Alaska Electrical Pension Fund, are entities that purchased or acquired Cadence’s publically traded securities during a period when, they allege, Cadence’s share prices were fraudulently inflated. See CAC ¶ 24.

This Court now considers a Motion to Dismiss (“Motion”) filed by Defendants. Docket No. 43. Plaintiffs have submitted an Opposition, Docket No. 45, and Defendants have submitted a Reply, Docket No. 47. Having considered the papers of all parties, the Court GRANTS Defendants’ Motion, and the CAC is DISMISSED WITHOUT…