In re Supportsoft, Inc. Securities Litigation

Plaintiffs' Memorandum in Opposition to Motion to Dismiss

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This case covers all purchasers of the securities of SupportSoft, Inc. (“SupportSoft”) during the period from January 20, 2004 through October 1, 2004.

Schatz Nobel Izard, P.C. was appointed as Co-Lead Counsel by the United States District Court for the Northern District of California on March 22, 2005.

This is the Plaintiffs' opposition to the Defendants’ Motion to Dismiss the Complaint, which the Court denied on November 19, 2005. An Amended Complaint, filed on August 23, 2005, alleges that Defendants violated federal securities laws by issuing false or misleading public statements regarding Supportsoft’s sales and business model and the changing nature of its contracts with customers. By an order entered on June 1, 2006, the Court certified the action to proceed as a class action.

The parties have agreed to a settlement in the amount of $10.7 million, and the Court has granted preliminary approval. A hearing on the parties' request for final approval is scgeduled for September 28, 2007.

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Reference Info:Legal Memoranda: Motion Addressed to Pleadings | Federal, 9th Circuit, California | United States


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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