Leadis Technology Off the Hook In Class Action

Law360, New York (March 9, 2006, 12:00 AM EST) -- In a seemingly effortless win for Leadis Technology Inc., a federal judge has dismissed a class action securities lawsuit that accused the semiconductor maker of misleading investors regarding its initial public offering.

The ruling, handed down last Wednesday in U.S. District Court for the Northern District of California, granted, with prejudice, the defendants’ first motion to dismiss the complaint against Leadis and its various officers and directors.

“Plaintiffs contend that the failure to disclose that these events were already occurring constituted an omission of a fact...
To view the full article, register now.