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BROUDO v. DURA PHARMACEUTICALS, INC.

No. 01-57136.

339 F.3d 933 (2003)

Michael BROUDO; Baldev S. Gill; Larry Morgan Ira; Leonid Shvartsman, (for G & S partnership); Neil Siskind; Roberta Speck; Brent Vogt, on behalf of themselves and all others similarly situated, Plaintiffs-Appellants, v. DURA PHARMACEUTICALS, INC.; Cam L. Garner; James W. Newman; Charles W. Prettyman; Walter F. Spath; James C. Blair; Julia R. Brown; Joseph C. Cook, Jr.; Mitchell R. Woodbury; Merill Lynch and Co./Merrill Lynch, Pierce Fenner and Smith, Inc.; Nissan Motor Co., a Japanese corporation, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Filed August 5, 2003.

Attorney(s) appearing for the Case

William S. Lerach, Jan M. Adler, Eric A. Isaacson, Henry Rosen, Tor Gronborg, Joseph D. Daley, Milberg Weiss Bershad Hynes & Lerach LLP, Alan Schulman, Blair A. Nicholas, Bernstein Litowitz Berger & Grossmann, LLP, San Diego, CA; Steven J. Toll, Cohen, Milstein, Hausfeld & Toll, P.L.L.C., Seattle, WA, for the plaintiffs-appellants.

William F. Sullivan, Christopher H. McGrath, Sean T. Prosser, Colleen E. Huschke, Brobeck, Phleger & Harrison, LLP, San Diego, CA, for the defendants-appellees.

Before: Harry Pregerson, Stephen Reinhardt, and Glenn L. Archer, Jr., Circuit Judges.

OPINION

ARCHER, Senior Circuit Judge.

Michael Broudo et al. ("Appellants") appeal the district court's dismissal with prejudice of the second amended complaint ("SAC") under Federal Rule of Civil Procedure ("FRCP") 12(b)(6). In re Dura Pharm., Inc. Sec. Litig., No. 99CV0151-L(NLS) (S.D.Cal. Nov. 11, 2001). Because 1) the SAC satisfied the loss causation element of a Section 10(b) violation of the Securities and Exchange Act of 1934 with respect to...

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