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IN RE GILEAD SCIENCES SECURITIES LITIGATION

No. 06-16185.

536 F.3d 1049 (2008)

In re GILEAD SCIENCES SECURITIES LITIGATION. Rick Hartman, on behalf of himself and all others similarly situated; Trent St. Clare; Terry Johnson, Plaintiffs-Appellants, v. Gilead Sciences, Inc.; John C. Martin; John F. Milligan; Mark L. Perry; Norbert W. Bischofberger; Anthony Carraciolo; William Lee, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Filed August 11, 2008.

Attorney(s) appearing for the Case

Susan K. Alexander (briefed and argued), Lerach, Coughlin, Stoia, Geller, Rudman & Robbins LLP, San Francisco, CA, for the plaintiffs-appellants.

John C. Dwyer (briefed and argued), Grant Fondo and Jeffrey M. Kaban (appeared only), Cooley, Godward, Kronish, LLP, Palo Alto, CA, for the defendants-appellees.

Before: ALEX KOZINSKI, Chief Judge, HAWKINS, and ROBERT E. COWEN, Circuit Judges.

MICHAEL DALY HAWKINS, Circuit Judge:

A group of individual investors brought this securities fraud action on behalf of themselves and a proposed class comprising all individuals (collectively, the "Investors") who purchased Gilead Sciences, Inc.'s ("Gilead") publicly traded securities between July 14, 2003, and October 28, 2003 ("class period"). They allege that Gilead misled the investing public by representing that demand for its most popular product was strong...

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