Scognamillo

Scognamillo v. CREDIT SUISSE FIRST BOSTON, LLC

Good Law

587 F. Supp. 2d 1149·2008 WL 4949920·2008 U.S. Dist. LEXIS 96585

United States District Court, Northern District of CaliforniaNovember 18, 2008C03-02061 TEHCalifornia5,515 words

Opinion

Henderson, J.

ORDER DENYING LEAVE TO FILE A SIXTH AMENDED COMPLAINT

This matter came before the Court on Monday, September 22, 2008, on the Plaintiffs’ Motion for Leave to File a Sixth Amended Complaint. Having carefully considered the parties’ written and oral arguments, and the record therein, Plaintiffs’ Motion is DENIED for the reasons set forth below.

BACKGROUND

In this matter, Plaintiffs merged their company, UVN Holdings, Inc., with Net-centives, Inc., primarily in exchange for stock in Netcentives. After the sale, the Netcentives stock price dropped significantly, and Plaintiffs lost millions of dollars. Plaintiffs brought this suit against Credit Suisse First Boston (“CSFB”), which served as financial advisors to Net-centives, and two Netcentives executives. This case was originally filed in the United States District Court for the District of Arizona and was transferred to this Court in May of 2003. The Court granted Plaintiffs leave to file a Second Amended Complaint in January of 2004. On stipulation of the parties, a Third Amended Complaint was filed in May of 2004.

Defendants filed multiple motions to dismiss in July of 2004, and in September of 2004, the Court stayed all…

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