Case Page

 

Case Status:    DISMISSED    
On or around 04/29/2013 (Court's order of dismissal)

Filing Date: March 31, 2011

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.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CSCO
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 11-CV-01568
JUDGE: Hon. Saundra Brown Armstrong
DATE FILED: 03/31/2011
CLASS PERIOD START: 05/12/2010
CLASS PERIOD END: 02/09/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abraham, Fruchter & Twersky (New York, One Pennsylvania Plaza)
    One Pennsylvania Plaza, Suite 1910, Abraham, Fruchter & Twersky (New York, One Pennsylvania Plaza), NY 10119
    212.279.5050 212.279.3655 · JFruchter@FruchterTwersky.com
  2. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  3. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
  4. Robbins Geller Rudman & Dowd LLP (San Francisco)
    100 Pine Street, Suite 2600, Robbins Geller Rudman & Dowd LLP (San Francisco), CA 94111
    415.288.4545 415.288.4534 ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 11-CV-01568
JUDGE: Hon. Saundra Brown Armstrong
DATE FILED: 12/02/2011
CLASS PERIOD START: 02/03/2010
CLASS PERIOD END: 05/11/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  2. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
  3. Robbins Geller Rudman & Dowd LLP (San Francisco)
    100 Pine Street, Suite 2600, Robbins Geller Rudman & Dowd LLP (San Francisco), CA 94111
    415.288.4545 415.288.4534 ·
No Document Title Filing Date
No Document Title Filing Date