In Re Vantive Corp. SEC. Litigation

OPINION AND ORDER

This securities fraud class action arises out of three suits originally brought by plaintiffs Ken Webb, Peter Rodes, and Park East, Inc. against The Vantive Corporation (“Vantive”) and individual defendants John R. Luongo (former CEO of Vantive), John M. Jack (former COO of Vantive), Kathleen A. Murphy (former CFO of Vantive), Christopher W. Loch-head (former Vice President (“VP”) of Vantive), Roger J. Sippl (founder and former chairman of Vantive), David J. Jodoin (former VP of Vantive), and Michael M. Loo (former VP and former interim CFO of Vantive) (collectively “the individual defendants” ). The Court consolidated the actions for all purposes, and appointed the Gilman Group of shareholders as lead plaintiff. Vantive now moves to strike or dismiss plaintiffs’ third pleading, the first consolidated amended complaint (“FCAC”). Plaintiffs move to amend their allegations nunc pro tunc and to strike excerpts of conference call transcripts submitted by defendant. For the reasons set forth hereinafter, plaintiffs’ motion to amend its allegations nunc pro tunc is granted, and plaintiffs’ motion to strike excerpts of conference call transcripts is denied. Defendants’…