DeMarco

MEMORANDUM OPINION AND ORDER DISMISSING CASE WITH PREJUDICE

This matter comes before the Court on Defendants’ motions to dismiss and to strike Plaintiffs’ Corrected Second Amended Complaint and Plaintiffs’ cross-motions to compel and to strike. This Court has jurisdiction pursuant to 15 U.S.C. § 78aa and 28 U.S.C. § 1331 . For the reasons expressed below, the Court DISMISSES this action with prejudice and without leave to amend.

I. BACKGROUND

A. OVERVIEW

Plaintiffs represent a class of shareholders who purchased shares of Defendant DepoTech, Inc. (“DepoTech”) between April 1, 1996 and December 18, 1997 (“Class Period”). (CSAC ¶ 1.) Plaintiffs contend that, during the Class Period, De-poTech and one of its directors made materially false and misleading statements concerning the efficacy of DepoTech’s lead product. (Id. ¶¶ 46-79.)

DepoTech is a San Diego-based company that develops and manufactures pharmaceutical drug delivery products and whose stock was traded on the NASDAQ National Market System. (Id. ¶ 7(a).) Defendant Edward L. Erickson (“Erickson”) served as president, chief executive officer and director of DepoTech during the Class Period. (Id. ¶ 7(b).) Defendant Sinil…