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Ditech Wins Dismissal Of Investor Suit

Law360 (October 11, 2007, 12:00 AM EDT) -- In a stinging blow to investors of Ditech Communications Corp., a federal judge has tossed their purported securities class action, which claimed they were misled about the financial condition of the telecommunications equipment designer.

Judge Jeffrey S. White dismissed the third amended complaint without leave to amend on Thursday in the U.S. District Court for the Northern District of California, finding that the purported class was unable to meet the heightened pleading standards of the Private Securities Litigation Reform Act.

In the latest amended complaint, the...
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