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PIRRAGLIA v. NOVELL

No. 02-4077.

339 F.3d 1182 (2003)

Domenico PIRRAGLIA, Bella Pasternak, Bernard Pasternak, Mohamad S. Bakizada, Henriette Bakizada, Michael C. Dodge, Gary M. Goodman, Peter Cole, Antonio Tripodi, Leslie I. Handler, on behalf of themselves and all others similarly situated, Plaintiffs-Appellants, v. NOVELL, INC., Joseph A. Marengi, James R. Tolonen, John A. Young, Defendants-Appellees.

United States Court of Appeals, Tenth Circuit.

August 11, 2003.

Attorney(s) appearing for the Case

Susan K. Alexander (Patrick J. Coughlin and Sanford Svetcov of Milberg, Weiss, Bershad, Hynes & Lerach LLP, San Francisco, CA; Eric A. Isaacson and Henry Rosen of Milberg, Weiss, Bershad, Hynes & Lerach LLP, San Diego, CA; Richard D. Burbidge, Stephen B. Mitchell, Jason D. Boren and Jefferson W. Gross of Burbidge & Mitchell, Salt Lake City, UT, with her on the briefs), Milberg, Weiss, Bershad, Hynes & Lerach LLP, San Francisco, CA, for the Plaintiffs-Appellants.

Terry T. Johnson (Daniel Turbow of Wilson, Sonsini, Goodrich & Rosati, Palo Alto, CA; Jeffrey Hunt of Parr Waddoups Brown Gee & Loveless, Salt Lake City, UT, with him on the brief), Wilson, Sonsini, Goodrich & Rosati, Palo Alto, CA, for the Defendants-Appellees.

Before LUCERO, BALDOCK, and O'BRIEN, Circuit Judges.

LUCERO, Circuit Judge.

This court is once again called upon to interpret the provisions of the Private Securities Litigation Reform Act of 1995, Pub.L. No. 104-67, 109 Stat. 737 (1995) ("Reform Act") (codified at 15 U.S.C. § 78u-4), as applied to a private securities-fraud complaint. Plaintiffs filed a securities-fraud class-action complaint against Novell, Inc. ("Novell"), asserting that Novell executives made materially false statements that induced investors...

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