Brodsky
Brodsky v. Yahoo! Inc.
Opinion
Opinion
Wilken, J.
ORDER GRANTING DEFENDANTS’ MOTION TO DISMISS
Defendants Yahoo! Inc., Terry S. Semel, Susan L. Decker, Farzad Nazem and Daniel Rosensweig move to dismiss the Consolidated Amended Class Action Complaint (CAC). Lead Plaintiffs Pension Trust Fund for Operating Engineers and Pompano Beach Police and Firefighters’ Retirement Systems oppose the motion. The motion was heard on October 2, 2008. Having considered all of the parties’ papers and oral argument on the motion, the Court grants Defendants’ motion and grants Lead Plaintiffs leave to amend the complaint.
BACKGROUND
Defendant Yahoo! is a global internet services company headquartered in Sunnyvale, California. The four individual Defendants are Terry S. Semel, former Chairman and Chief Executive Officer; Susan L. Decker, currently Yahool’s President and former Chief Financial Officer and Executive Vice President of Finance and Administration during the Class Period; Farzad Nazem, former Chief Technology Officer; and Daniel L. Rosensweig, former Chief Operating Officer.
Lead Plaintiffs and Ellen Brodsky purport to represent a class of persons and entities that bought common stock of Yahoo! between April 8, 2004 and July 18, 2006…