Hawaii Structural Iron Workers Pension Trust Fund v. Apple Computer, Inc.

MEMORANDUM *

Plaintiffs-appellants Hawaii Structural Iron Workers Pension Trust (“plaintiffs”) et al. brought this putative class action against defendants-appellees Apple Computer, Inc. (“Apple”) and Apple’s Chief Executive Officer Steven P. Jobs (“Jobs”) for violations of securities laws. Plaintiffs allege Jobs is a controlling person at Apple under section 20(a) of the Securities Ex *299 change Act of 1934, 15 U.S.C. § 78t(a); this defendants do not dispute.

Plaintiffs appeal from the district court’s order granting the defendants’ motion to dismiss without leave to amend the plaintiffs’ First Amended Consolidated Complaint (the “Complaint”), based on the district court’s finding that plaintiffs failed to allege facts showing defendants made false statements with the scienter required under the Private Securities Litigation Reform Act (the “PSLRA”). Fed.R.Civ.P. 9(b), 12(b)(6). Plaintiffs’ Complaint alleged that defendants violated section 10(b) of the Securities Exchange Act of 1934 (“1934 Act”), 15 U.S.C. § 78j(b), and Rule 10b-5, promulgated thereunder. Plaintiffs also appeal the denial of their post-judgment motion to alter the judgment to allow them leave to amend their…