Hussey

ORDER GRANTING DEFENDANTS’ MOTION TO DISMISS SECOND AMENDED COMPLAINT

This is a securities fraud class action relating to the acquisition of Ruckus Wireless Inc. (“Ruckus”) by Brocade Communications Systems, Inc. (“Brocade”) in May 2016. Lead Plaintiff is the City of Pontiac General Employees’ Retirement System, one of the shareholders of Ruckus. Defendants are as follows:

Previously, the Court granted a motion to dismiss filed by a majority of the defendants named above, but with leave to amend. Lead Plaintiff thus filed a second amended complaint (“SAC”). All Defendants named above now move for dismissal of the SAC.

Having considered the parties’ briefs and accompanying submissions, as well as the oral argument of counsel, the Court hereby GRANTS Defendants motion.

I. FACTUAL & PROCEDURAL BACKGROUND

In the SAC, Lead Plaintiff alleges as follows.

Before the merger with Brocade, “Ruckus was a global supplier of advanced Wi-Fi solutions.” SAC ¶43. At the end of December 2015, Ruckus’s financial performance was strong and had exceeded the prior year’s financial performance. See SAC ¶47. “Despite Ruckus’ improving metrics and strong prospects, the Board was concurrently…