Reidinger

Reidinger v. Zendesk, Inc.

Good Law
United States District Court, Northern District of CaliforniaMarch 2, 20213:19-cv-06968California7,267 words

Opinion

Trial Court Opinion

IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA 7 CHARLES REIDINGER, Case No. 19-cv-06968-CRB

Plaintiff,

ORDER GRANTING MOTION TO

v. DISMISS WITH LEAVE TO AMEND

ZENDESK, INC., et al., Defendants.

A class of Zendesk, Inc. stock purchasers led by Local 353, I.B.E.W. Pension Fund (“the Pension Fund”) is suing Zendesk and two Zendesk officers (collectively, “Zendesk”) for securities fraud under §§ 10(b) and 20(a) of the Securities Exchange Act of 1934 and Securities and Exchange Commission (SEC) Rule 10b-5. The Court previously dismissed the Pension Fund’s First Amended Complaint under Rule 12(b)(6) of the Federal Rules of Civil Procedure for failure to state a claim for which relief may be granted. The Court gave the Pension Fund leave to amend. In its Second Amended Complaint, the Pension Fund alleges that Zendesk made false and misleading statements relating to Zendesk’s data security, resulting in harm to investors after the public learned that Zendesk had…

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