In re Quality Systems, Inc. Securities Litigation

ORDER GRANTING DEFENDANTS’ MOTION TO DISMISS WITH PREJUDICE

I. INTRODUCTION

This is a shareholder securities class action brought against Quality Systems, Inc. (“QSI”) and its high-ranking directors and officers, Sheldon Razin, Steven Plo-chocki, and Paul Holt (collectively, “Defendants”). The claims are asserted on behalf of all persons or entities who, during May 26, 2011 through July 25, 2012 (the “Class Period”), purchased or otherwise acquired the common stock of QSI (collectively, “Plaintiffs”). The Amended Complaint alleges violations of sections 10(b) and 20(a) *1098 of the Securities Exchange Act of 1934 (“SEA”), 15 U.S.C. §§ 78j(b), 78t(a), and Rule 10b-5, 17 C.F.R. § 240 .10b-5, in connection with Defendants’ purportedly false and misleading statements regarding revenue forecasts, sales pipeline figures, and greenfield sales projections. (Dkt. No. 26 Amended Compl. [“AC”].) Before the Court is Defendants’ motion to dismiss the Amended Complaint. (Dkt. No. 29 [“Defs.’ Mot.”].) Defendants argue that the Amended Complaint fails to meet the heightened pleading requirements of Federal Rule of Civil Procedure 9(b) and the Private Securities Litigation Reform Act of 1995…