Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Official citation and/or docket number and footnotes (if any) for this case available with purchase.

Learn more about what you receive with purchase of this case.

Cement Masons & Plasterers Joint Pension Trust v. Equinix

IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA


September 24, 2012

CEMENT MASONS & PLASTERERS JOINT PENSION TRUST, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED,
PLAINTIFFS,
v.
EQUINIX, INC., STEPHEN M. SMITH, AND KEITH TAYLOR,
DEFENDANTS.

ORDER REQUESTING SUPPLEMENTAL BRIEIFING

For the Northern District of California

Now before the Court is Defendants' motion to dismiss Plaintiffs' Second Amended Complaint ("SAC"). ECF No. 29. Among 19 other things, the SAC asserts that Defendants falsely represented 20 that their sales force would not trade price for volume, i.e., 21 offer discounts to customers. In support, Plaintiffs allege 22 statements made by a confidential witness ("CW"). See ECF No. 44 23 ("SAC") ¶¶ 124-26. Specifically, the CW states that she regularly 24 approved discounts between ten and thirty percent and that it was 25 not uncommon for discounts to rise above thirty percent with the 26 approval of the company's finance director. See id. It is not 27 clear that the conduct described by the CW was ever revealed to the 28 market. Accordingly, it is not clear that Plaintiffs have adequately alleged loss causation with respect to this CW's 2 statements. See Metzler Inv. GMBH v. Corinthian Colleges, Inc., 3 540 F.3d 1049, 1064 (9th Cir. 2008). The Court hereby requests 4 additional briefing on this issue. Each party may file a single 5 supplemental brief on this matter, not to exceed eight (8) pages, 6 no later than fourteen (14) days after the signature date of this Order. Response briefs are neither required nor permitted. 8

IT IS SO ORDERED.

For the Northern District of California

UNITED STATES DISTRICT JUDGE

20120924

© 1992-2012 VersusLaw Inc.



Buy This Entire Record For $7.95

Official citation and/or docket number and footnotes (if any) for this case available with purchase.

Learn more about what you receive with purchase of this case.