Safron Capital Corp. v. Leadis Technology, Inc.

dissenting.

I would affirm for the reasons stated by Judge Breyer.

MEMORANDUM *

Appellants Ngoan Van Le, Richard Beedenbender, and Scott Strouse appeal the district court’s order dismissing with prejudice their Consolidated Class Action Complaint (“Complaint”) alleging violations of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933, 15 U.S.C. §§ 77k, 77£(a)(2), and 77o, in connection with Lead-is Technology Inc.’s June 2004 initial public offering of common stock. In conducting our review, we accept the allegations in the dismissed complaint as true and construe them in the light most favorable to Appellants. In re Daou Systems, Inc. Secs. Litig., 411 F.3d 1006, 1013 (9th Cir.2005). We have jurisdiction pursuant to 28 U.S.C. § 1291 , and we reverse and remand.

As a preliminary matter, we address Appellees’ motion to strike Appellants’ opening brief and Appellants’ request for judicial notice. The motion to strike is granted as follows: all documents in the Addendum to Appellants’ opening brief are stricken except the district court’s order in In re BioLase Tech. Sec. Litig., No. 04-947 DOC (C.D.Cal. Jan. 27, 2003). 1 See Fed. R.App. P. 10(a); Kirshner v. Uniden Corp. of Am., 842 F.2d 1074, 1077 (9th Cir.1988). In all other respects,…