Richard Cloutier, on Behalf of Himself and All Others Similarly Situated v. Adobe Systems, Inc.

5 F.3d 535 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. Richard CLOUTIER, on behalf of himself and all others similarly situated, Plaintiff-Appellant, v. ADOBE SYSTEMS, INC., Defendant-Appellee. No. 92-15727. United States Court of Appeals, Ninth Circuit. Argued and Submitted Aug. 10, 1993. Decided Sept. 9, 1993. Before: KOZINSKI, THOMPSON, and T.G. NELSON, Circuit Judges. 1 MEMORANDUM * 2 Richard Cloutier, class representative for purchasers of Adobe Systems, Inc. ("Adobe") stock between March 6 and May 24, 1990, appeals the district court's grant of summary judgment in favor of Adobe and various officers of the company. The plaintiff alleges the defendants artificially inflated the price of Adobe stock by issuing false or misleading public statements regarding Adobe's prospects and future earnings, in violation of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (15 U.S.C. Secs. 78j(b) and 78t(a) (1988)) and the Securities and Exchange Commission's Rule…