In re Leapfrog Enterprise, Inc. Securities Litigation
Opinion
Lead Opinion
Chen, J.
*945 ORDER GRANTING IN PART AND DENYING IN PART DEFENDANTS’ MOTION TO DISMISS
Docket No. 100
Plaintiffs have filed a securities class action against Defendant' Leapfrog Enterprises, Inc. (“LF”) and two of its executive officers, John Barbour (CEO) and Raymond L. Arthur. Since appointment of lead plaintiff and lead.counsel, and their filing of a consolidated class action complaint, Defendants have repeatedly challenged the sufficiency of Plaintiffs’ pleadings. This Court previously dismissed the original consolidated class action complaint as well as the first amended complaint See Docket No. 63 (minutes); Docket No. 88 (order). The current operative complaint is the second amended consolidated class action complaint (“SAC”). In that pleading, Plaintiffs allege that Defendants violated federal securities law, including § 10(b) and related Rule 10b-5, because they falsely represented that accounting write-offs did not need to be taken when, in fact, they did as required by generally accepted accounting principles (“GAAP”). Currently pending before the Court is Defendants’ motion to dismiss the SAC pursuant to Federal Rule of Civil Procedure 12(b)(6).