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NEW MEXICO INVESTMENT COUNCIL v. ERNST & YOUNG

No. 09-55632.

641 F.3d 1089 (2011)

NEW MEXICO STATE INVESTMENT COUNCIL, Lead Plaintiff, Plaintiff-Appellant, and Sonam Bakshi, individually and on behalf of all others similarly situated; Bakers Local No. 433 Pension Fund; Minnesota Bakers Union Pension Fund; Twin Cities Bakery Drivers Pension Fund, Plaintiffs, v. ERNST & YOUNG LLP, Defendant-Appellee, and Henry Samueli; William J. Ruehle; Broadcom Corporation; David A. Dull; Alan E. Ross; Werner F. Wolfen; George L. Farinsky, Defendants.

United States Court of Appeals, Ninth Circuit.

Filed April 14, 2011.

Attorney(s) appearing for the Case

Thomas A. Dubbs (argued), Joseph A. Fonti , and Stephen W. Tountas , Labaton Sucharow LLP, New York, NY, for lead plaintiff-appellant New Mexico State Investment Council.

Robert B. Hubbel (argued), Michael M. Farhang , and Alexander K. Mircheff , Gibson, Dunn & Crutcher LLP, Los Angeles, CA, for defendant-appellee Ernst & Young, LLP.

Before: JOHNNIE B. RAWLINSON and ALFRED T. GOODWIN, Circuit Judges, and JACK ZOUHARY, District Judge.

OPINION

ZOUHARY, District Judge:

INTRODUCTION

Lead Plaintiff New Mexico State Investment Council, individually and on behalf of all others similarly situated ("Plaintiffs"), appeals the district court's grant of Defendant Ernst & Young's ("EY") Motion to Dismiss. The claims against EY stem from a securities class action complaint against Broadcom Corporation ("Broadcom"), certain Broadcom officers and directors, and Broadcom's auditor EY (collectively...

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