Cadence Design Securities Action Gets The Boot

Law360, New York (September 15, 2009, 4:07 PM EDT) -- A federal judge has dismissed a consolidated putative securities class action accusing Cadence Design Systems Inc. and its former principals of artificially inflating the computer software and hardware company's value prior to an October 2008 share price plunge stemming from accounting errors.

Judge Samuel Conti's decision, issued Friday in the U.S. District Court for the Northern District of California, left room for the plaintiffs, led by the Alaska Electrical Pension Fund, to file a second amended complaint within 30 days.

According to Judge Conti, confidential witness...
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