Cisco Systems, Inc. ("Cisco" or the Company) is a multinational technology company that designs, manufactures, and sells primarily networking hardware, software, and telecommunications equipment.

According to the press release dated April 1, 2011, Cisco and certain of its officers and directors violated federal securities laws by making false and misleading statements regarding the Company's business and financial results. Specifically, the Complaint alleges that: (i) Cisco was facing intense pricing pressure for its products from its more traditional competitors and emerging Chinese competitors; (ii) in order to maintain market share and meet its previously announced growth rate targets in the face of the intense pricing pressure being exerted by the Company's competitors, Cisco was forced to dramatically lower prices, which was having a material adverse effect on the Company's margins; and (iii) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about Cisco's growth rates, market share, orders, new product introductions and gross and operating margins.

On October 19, 2011, Judge Saundra Brown Armstong granted the motion to consolidate the two related actions under lead case,11-1568 SBA. The New England Teamsters & Trucking Industry Pension Fund and The Council of the Borough of South Tyneside Acting in Its Capacity as the Administering Authority of the Tyne and Wear Pension Fund were appointed as lead Plaintiffs, and Robbins Geller Rudman & Dowd LLP was approved as lead Counsel in the action. On December 2, 2011, the lead Plaintiffs filed an amended and consolidated Complaint. Two individual Defendants were voluntarily dismissed from the action.

On March 29, 2013, the Court issued an order granting the Defendants' motion to dismiss. Plaintiffs were given leave to file an amended Complaint.

On April 26, 2013, the parties filed a Stipulation dismissing this case with prejudice.