FRIESE v. SUPERIOR COURT

No. D046348.

36 Cal.Rptr.3d 558 (2005)

134 Cal.App.4th 693

Robert C. FRIESE, as Trustee, Petitioner, v. The SUPERIOR COURT of San Diego County, Respondent; John J. Moores et al., Real Parties in Interest.

Court of Appeals of California, Fourth District, Division One.

December 2, 2005.


Attorney(s) appearing for the Case

Mazzarella, Dunwoody & Caldarelli, Mark C. Mazzarella, San Diego, and Marisa Janine-Page; Yetter & Warden and R. Paul Yetter, for Petitioner Robert C. Friese.

No appearance for Respondent.

Post, Kirby, Noonan & Sweat and David J. Noonan, San Diego; Niddrie, Fish & Buchanan and David A. Niddrie, San Diego; Quinn, Emanuel, Urquhart, Oliver & Hedges, John B. Quinn, Kathleen M. Sullivan and Harry A. Olivar, Jr., Los Angeles, for Real Parties in Interest John J. Moores and JMI Services, Inc.

Bewley, Lassleben & Miller, Whittier, and Leighton M. Anderson, for Real Party in Interest Christopher A. Cole.

Hahn & Adema, Jane Hahn and Alison P. Adema, San Diego; Goodwin Procter, Christine S. Chung and Brian E. Pastuszenski, for Real Parties in Interest Norris Van Den Berg and Charles E. Noell.

Duckor, Spradling & Metzger, Michael Duckor and Robert M. Shaughnessy, San Diego, for Real Party in Interest Rod Dammeyer.

Bergeson, Daniel J. Bergeson, Stephen D. Rockwell, Caroline McIntyre and Derek H. Lim, San Jose, for Real Party in Interest Stephen P. Gardner.

Goodin, MacBride, Squeri, Ritchie & Day, Wayne Travers Lamprey, Anne H. Hartman and Glenn M. Goffin, San Francisco, for Real Party in Interest Thomas G. Watrous.

Vance, Blair & Grady and Thomas L. Vance, for Real Party in Interest Matthew C. Gless.

McKenna, Long & Aldridge, Robert S. Brewer, Jr., and Christian D. Humphreys, San Diego, for Real Party in Interest Richard T. Nelson.

Paul, Hastings, Janofsky & Walker and Christopher H. McGrath, San Diego, for Real Party in Interest Frederic B. Luddy.

Office of the State Attorney General, Bill Lockyer, Attorney General, Thomas Greene, Chief Assistant Attorney General, Mark J. Breckler Senior Assistant Attorney General, and Jeffrey A. Rich, Deputy Attorney General, Amicus Curiae for Petitioner Attorney General of the State of California.

Leck & Associates and Robert Burns Leck, Amicus Curiae for Respondent California Manufacturers & Technology.

Allan S. Zaremberg, Amicus Curiae for Respondent California Chamber of Commerce and California Business Roundtable.


BENKE, Acting P.J.

Corporations Code1 sections 25402 and 25502.5 are part of the Corporate Securities Law of 1968. In general, section 25402 prohibits so-called "insider trading" by the issuer of securities or by any person who is an officer, director or controlling person of an issuer. Until 1988 only purchasers or sellers of stock who could show that they had been harmed by virtue of insider trading had a right of action against violators...

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