David Hanon v. Dataproducts Corporation Jack C. Davis
Opinion
Opinion
Thompson, J.
David Hanon sued Dataproducts Corporation, a manufacturer of computer printers, and its chief executive officer, Jack C. Davis, under section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, 17 C.F.R. § 240 .10b-5. Hanon owned ten shares of Datapro-ducts stock. He alleged Dataproducts misled the market about one of its new product lines and concealed strategic decisions to discontinue two printers and to close a production facility.
The district court denied Hanon's motion for class certification ; Subsequently, after approximately thirty depositions had been taken and thousands of documents had been produced, the district court granted Dataproducts’ motion for summary judgment with respect to Hanon’s individual claims.
Hanon appeals from the district court’s denial of class certification and its summary judgment. We have jurisdiction under 28 U.S.C. § 1291 . We affirm the denial of class certification, affirm the summary judgment in part, reverse in part and remand for further proceedings.
STANDARD OF REVIEW
Summary judgment is reviewed de novo. In re Apple Computer Sec. Litig., 886 F.2d 1109, 1112 (9th Cir.1989), cert. denied sub nom.…