In Re Microstrategy, Inc. Sec. Litig
In re MicroStrategy, Inc. Sec. Litig. United States District Court for the Eastern District of Virginia, Alexandria Division September 15, 2000, Decided ; September 15, 2000, Filed Civil Action No. 00-473-A Reporter: 115 F. Supp. 2d 620; 2000 U.S. Dist. LEXIS 13795; Fed. Sec. L. Rep. (CCH) P91,213 the price of defendants’ securities. Defendants moved to dismiss the action. With respect to defendants’ claim IN RE MICROSTRATEGY, INC. SECURITIES LITIGA- that plaintiff failed to meet the heightened scienter plead- TION ing requirements of the PSLRA, the court found that an examination of the totality of the circumstances al- Disposition: [**1] Motion by MicroStrategy Defen- leged by the complaint compelled the conclusion that dants to dismiss Complaint GRANTED IN PART and DE- plaintiffs had met their burden under the PSLRA of plead- NIED IN PART. ing sufficient facts to raise a strong inference that defen- dants acted with the requisite scienter. Core Terms Outcome Defendants’ motion to dismiss was granted in part and de- scienter, strong inference, stock, insider, recklessness, motion to dismiss, individual defendant, per share, nied in part. The court found that plaintiffs met their bur- probative, auditor, investor, complaint alleges, den of pleading sufficient facts to raise a strong infer- contemporaneity, audit, securities fraud, conscious, state ence that defendants acted with the requisite scienter. of mind, factual allegations, class period, accounting principles, magnitude, announcement, requisite state of mind, net income, suspicious,
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