Securities & Exchange Commission v. Platforms Wireless International Corp.
Opinion
Opinion
Miller, J.
ORDER PARTIALLY VACATING GRANT OF SUMMARY JUDGMENT AS TO SECTION 10(B) AND RULE 10B-5 CLAIMS
In this SEC enforcement action, the court has granted summary judgment on all but one of the SEC’s claims. The court partially granted Defendants’ motions for reconsideration on January 31, 2008. Pursuant to this order, the court will reconsider the grant of summary judgment on Plaintiffs claims under § 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. The parties have submitted supplemental briefing applying the correct scienter standard to Defendants’ conduct. The court now considers whether to modify its grant of summary judgment against defendants Platforms Wireless, William Martin, Francois Draper, and Robert Perry. For the reasons set forth below, the court hereby AFFIRMS the grant of summary judgment against Martin and Platforms based on the August 23, 2000 press release; VACATES the grant of summary judgment against Martin and Platforms based on the May 15, 2000 and September 19, 2000 press releases; and VACATES the grant of summary judgment against Draper, Perry, and Platforms based on the March 8, 2001 press release.