Jabil Circuit, Inc. - Securities Class Action

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Stanford Law School

Jabil Circuit, Inc. Summary: The original Complaint alleges that JBL and certain officers and directors manipulated the prices of stock option grants and made materially false and misleading statements and/or omitted material facts necessary to make those statements not misleading. The Complaint alleges violations of Sections 10(b), 14(a) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. Sections 78j(b), 78n(a), and 78t(a) and Rules 10b-5 and 14a-9 promulgated thereunder, 17 C.F.R. Sections 240.10b-5 and 240.14a-9.

On September 18, 2006, two similar actions were consolidated into a single proceeding and on January 18, 2007, the Court appointed The Laborers Pension Trust Fund for Northern California and Pension Trust Fund for Operating Engineers as lead plaintiffs in the action. On March 5, 2007, the lead plaintiffs filed a consolidated class action complaint. The Consolidated Class Action Complaint is purported to be brought on behalf of all persons who purchased the Company’s publicly traded securities between September 19, 2001 and December 21, 2006, and names the Company and certain of its current and former officers as defendants. The Consolidated Class Action Complaint alleged violations of Sections 10(b), 20(a), and 14(a) of the Securities Exchange Act of 1934 and the rules promulgated thereunder. On April 30, 2007, the plaintiffs filed a First Amended Consolidated Class Action Complaint asserting claims substantially similar to the Consolidated Class Action Complaint it replaced but adding additional allegations relating to the restatement of earnings previously announced in connection with the correction of errors in the calculation of compensation expense for certain stock option grants. The Company filed a motion to dismiss the First Amended Consolidated Class Action Complaint on June 29, 2007. The plaintiffs filed an opposition to the Company’s motion to dismiss, and the Company then filed a reply memorandum in further support of its motion to dismiss on September 28, 2007. On April 9, 2008, the court dismissed the First Amended Consolidated Class Action Complaint without prejudice and with leave to amend such complaint by May 12, 2008. On May 12, 2008, the plaintiffs filed a Second Amended Class Action Complaint and then a Third Amended Class Action Complaint on July 23, 2008. On August 6, 2008, the defendants filed two motions to dismiss the Third Amended Complaint.

On January 26, 2009, District Court Judge Steven D. Merryday issued the Order granting the defendants’ motions to dismiss and dismissed the Third Amended Complaint with prejudice. The Court entered judgment in favor of the defendants and against the plaintiffs.

On February 20, 2009, the lead plaintiffs filed a Notice of Appeal now pending in the U.S. Court of Appeals for the Eleventh Circuit. On April 28, 2009, the Court entered the Order from the U.S. Court of Appeals, dismissing the appeal with prejudice as to only Appellee, KPMG, LLP. According to the Order, the appeal shall continue unabated.

According to an article dated January 20, 2010, the U.S. Court of Appeals for the Eleventh Circuit has affirmed the dismissal of a securities class action against Jabil Circuit Inc. for failing to meet heightened pleading standards under the Private Securities Litigation Reform Act. On Tuesday, the appeals court upheld a decision by the U.S. District Court for the Middle District of Florida to dismiss a case brought by investors.

INDUSTRY CLASSIFICATION:
SIC Code: 3672
Sector: Technology
Industry: Electronic Instruments & Controls

COMPANY/ISSUER NAME:	Jabil Circuit, Inc.
COMPANY/ISSUER TICKER:	JBL
COMPANY WEBSITE:	http://www.jabil.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Edward J. Goodman Life Income Trust, et al. v. Jabil Circuit, Inc., et al.

COURT: M.D. Florida	DOCKET NUMBER: 06-CV-01716
JUDGE NAME: Hon. Elizabeth A. Jenkins
DATE FILED: 09/18/2006	SOURCE: Notice of Filing
CLASS PERIOD START: 09/19/2001	CLASS PERIOD END: 06/21/2006
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Calcutt & Calcutt, P.A. 111 2nd. Ave., N.E., Suite 910, St. Petersburg, FL, 33701 (voice) 727.898.4198, (fax) 727.823.6353, Finkelstein, Thompson & Loughran 1050 30th Street, NW, Washington, DC, 20007 (voice) 202.337.8000, (fax) 202.337.8090, contact@ftllaw.com Kohn, Swift & Graf, P.C. One South Broad Street - Suite 2100, Philadelphia, PA, 19107 (voice) 215.238.1700, (fax) 215.238.1960, info@kohnswift.com Labaton Sucharow & Rudoff LLP 100 Park Avenue, 12th Floor, New York, NY, 10017 (voice) 212.907.0700, (fax) 212.818.0477 , info@labaton.com Malman, Malman & Rosenthal 4040 Sheridan Street. Joe Dimaggio Building, Hollywood, FL, 33021 (voice) 954.322.0065, (fax) , The Alpert Law Firm 5920 River Terrace, P.O. Box 3270, Tampa, FL, 33604-3270 (voice) 813.223.4131, (fax) 813.228.9612, JONALPERT@AOL.COM _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 6

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Federal Securities Class Action Complaint - Demand For Jury Trial
Type: Complaint		Date on the document: 09/18/2006
Order
Type: Order		Date on the document: 1/18/2007

REFERENCE COMPLAINT

Edward J. Goodman Life Income Trust, et al. v. Jabil Circuit, Inc., et al.

COURT: M.D. Florida	DOCKET NUMBER: 06-CV-01716
JUDGE NAME: Hon. Steven D. Merryday
DATE FILED: 07/23/2008	SOURCE: Docket
CLASS PERIOD START: 09/19/2001	CLASS PERIOD END: 12/21/2006
TYPE OF COMPLAINT: Third Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Lerach Coughlin Stoia Geller Rudman & Robbin (San Francisco) 100 Pine Street, Suite 2600, San Francisco, CA, 94111 (voice) 415.288.4545, (fax) 415.288.4534, info@lerachlaw.com Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Boca Raton) 197 South Federal Highway, Suite 200, Boca Raton, FL, 33432 (voice) 561.750.3000, (fax) 56.750.3364, info@lerachlaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
Order
Type: Order		Date on the document: 12/27/2006
Consolidated Class Action Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 3/5/2007
First Amended Class Action Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 4/30/2007
Order
Type: Order		Date on the document: 4/9/2008
Second Amended Class Action Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 05/12/2008
Third Amended Class Action Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 07/23/2008
Order
Type: Order		Date on the document: 01/26/2009
Judgment In A Civil Case
Type: Other		Date on the document: 01/27/2009
Notice Of Appeal
Type: Notice of Appeal		Date on the document: 02/20/2009
U.S. District Court Civil Docket
Type: Docket		Date on the document: 03/04/2010

OTHER DOCUMENTS
Verified Derivative Complaint
Case Name and/or Number: Mary L. Graves, et al. v. Jabil Circuit, Inc., et al.
Type: Complaint		Date on the document: 07/07/2006
Class Action Complaint for Violations of the Federal Securities Laws
Case Name and/or Number: Steven M. Noe, et al. v. Jabil Circuit, Inc., et al.
Type: Complaint		Date on the document: 10/12/2006
U.S. District Court Civil Docket
Case Name and/or Number: Steven M. Noe, et al. v. Jabil Circuit, Inc., et al.
Type: Docket		Date on the document: 10/12/2006
Class Action Complaint for Violations of Federal Securities Laws - Jury Trial Demanded
Case Name and/or Number: Steamship Trade Association/ International Longshoremen's Association Pension Fund, et al. v. Jabil Circuit, Inc., et al.
Type: Complaint		Date on the document: 11/17/2006
Appeal Order
Case Name and/or Number: Edward J. Goodman Life Income Trust, et al. v. Jabil Circuit, Inc., et al.
Type: Order		Date on the document: 04/23/2009
Mandate
Case Name and/or Number: Edward J. Goodman Life Income Trust, et al. v. Jabil Circuit, Inc., et al.
Type: Other		Date on the document: 01/19/2010
Judgment
Case Name and/or Number: Edward J. Goodman Life Income Trust, et al. v. Jabil Circuit, Inc., et al.
Type: Other		Date on the document: 03/04/2010

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