Rieckborn

ORDER REGARDING DEFENDANTS’ MOTIONS TO DISMISS

Re: Dkt. Nos. 160, 161, 163, 164, 182, 183

INTRODUCTION

This is a securities class action brought on behalf of a putative class of persons who purchased or otherwise acquired Velti pic (“Velti”) securities between January 27, 2011 and August 20, 2013. On the last day of the putative class period, Velti announced its Q2 2013 financial results and disclosed that it had decided to write off approximately $111 million in outstanding accounts receivable. Plaintiffs allege that Velti’s reserves and revenues were materially misrepresented throughout the putative class period and bring claims against Velti’s accounting firm — Baker, Tilly, Vir-chow & Krause, LLP (“Baker Tilly”) — and the underwriters of Velti’s initial and secondary public offerings — Jefferies LLC, RBC Capital Markets, LLC, Needham & Company, LLC, and Canaccord Genuity Inc. (collectively, the “Underwriters”) — under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”).

As plaintiffs announce at the start of their opposition brief, “this case is about receivables.” Opp. 1 (Dkt No. 183). Most if not all of…