Cement & Concrete Workers District Council Pension Fund, et al. v. Hewlett Packard Co., et al.
Published: Aug. 24, 2013 | Result Date: Aug. 9, 2013 | Filing Date: Jan. 1, 1900 |Case number: 3:12-cv-04115-JST Bench Decision – Dismissal with Leave to Amend
Court
USDC Northern
Attorneys
Plaintiff
Lionel Z. Glancy
(Glancy, Prongay & Murray LLP)
Robert V. Prongay
(Glancy, Prongay & Murray LLP)
Defendant
Karen A. Pieslak Pohlmann
(Morgan, Lewis & Bockius, LLP)
Jennifer R. Bagosy
(BD&J, PC)
Joseph E. Floren
(Morgan, Lewis & Bockius LLP)
Facts
Cement & Concrete Workers District Council Pension Fund filed a securities fraud lawsuit on behalf of a class who purchased stock of defendant Hewlett Packard Co.'s between November 13, 2007, and August 6, 2010. The suit claimed that HP and its former chairman, president, and CEO Mark Hurd committed securities fraud in violation of sections 110(b) and 20(a) of the Securities Exchange Act of 1934.
HP filed a motion to dismiss for failure to state a claim pursuant to the Private Securities Litigation Reform Act of 1995. HP argued that the complaint failed to satisfy the materiality and falsity requirements for a securities fraud claim.
Result
U.S. District Judge Jon S. Tigar granted HP's motion to dismiss with leave to amend.
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