Full title: CHRISTINE KUEHBECK, on behalf of herself and all others similarly…
Court: United States District Court, N.D. California
Date published: Jul 27, 2005
Facts
Ms. Kuehbeck brings this action pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§ 78j(b) and 78t(a), and the rules and regulations promulgated thereunder, including SEC Rule 10b-5, 17 C.F.R. 240.10b-5, on behalf of herself and all other persons or entities who purchased Genesis common stock on the open market during the period between April 29, 2002, and June 14, 2002 (“the Class Period”). Ms. Kuehbeck alleges that Genesis, and Messrs. Fisher, Erdman, and Frisk made false and misleading statements concerning Genesis’s pro forma net income for the fourth quarter fiscal year 2002 (“Q4 2002”), concerning Genesis’ projected revenues for the first quarter of fiscal year 2003 (“Q1 2003”), and market demand for Genesis’ integrated circuits (“ICs”).
Issue
Decision
In light of the heightened pleading standards of the PSLRA and the requirements of Federal Rule of Civil Procedure 12(b)(6), the Court GRANTS Defendants’ motion to dismiss without leave to amend, and dismisses this case with prejudice.