Marietta SMALL, as Public Administrator, etc., Plaintiff and Appellant,
v.
FRITZ COMPANIES, INC., et al., Defendants and Respondents.
Supreme Court of California.https://leagle.com/images/logo.png
April 7, 2003.
April 7, 2003.
Attorney(s) appearing for the Case
Stull, Stull & Brody, Michael D. Braun, Marc L. Godino, Los Angeles, Timothy J. Burke, Jules Brody and Mark Levine for Plaintiff and Appellant.
Orrick, Herrington & Sutcliffe, William F. Alderman, San Francisco, and E. Anne Hawkins for Defendants and Respondents.
Wilson Sonsini Goodrich & Rosati, Boris Feldman, Douglas J. Clark and Cheryl W. Foung, Palo Alto, for Electronics for Imaging, Inc., as Amicus Curiae on behalf of Defendants and Respondents.
Skadden, Arps, Slate, Meagher & Flom, Raoul D. Kennedy, San Francisco, Garrett J. Waltzer, Palo Alto, David E. Springer and Frances P. Kao for Ifilm Corp. and SGW Holding Inc., as Amici Curiae on behalf of Defendants and Respondents.
Munger, Tolles & Olson, Charles D. Siegal, George M. Garvey, Los Angeles, and Janice M. Kroll for Securities Industry Association as Amicus Curiae on behalf of Defendants and Respondents.
Richard I. Miller; Wilke, Fleury, Hoffelt, Gould & Birney, Matthew W. Powell, Sacramento, Paul A. Dorris, Daniel L. Baxter; Willkie Farr & Gallagher, Kelly M. Hnatt and Daniel B. Rosenthal for American Institute of Certified Accountants as Amicus Curiae on behalf of Defendants and Respondents.
Supreme Court of California.
KENNARD, J.
This is a stockholder's action charging that defendant corporation and its officers sent its stockholders a fraudulent quarterly financial report that grossly overreported earnings and profits. Plaintiff alleged that when the fraud was discovered, the price of the corporate stock dropped precipitously, causing injury to stockholders like himself.1 The trial court sustained a demurrer without leave to amend and entered judgment...
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