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In Re Portal Software, Inc. Securities Litigation 03-CV-5138

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In Re Portal Software, Inc. Securities Litigation 03-CV-5138 Case 3:03-cv-05138-VRW Document 145 Filed 02/08/2006 Page 1 of 5 1 LERACH COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP 2 SANFORD SVETCOV (36561) 100 Pine Street, Suite 2600 3 San Francisco, CA 94111 Telephone: 415/288-4545 4 415/288-4534 (fax) [email protected] 5 – and – SAMUEL H. RUDMAN 6 ROBERT M. ROTHMAN (Pro Hac Vice) RUSSELL J. GUNYAN 7 58 South Service Road, Suite 200 Melville, NY 11747 8 Telephone: 631/367-7100 631/367-1173 (fax) 9 [email protected] [email protected] 10 [email protected] 11 Lead Counsel for Plaintiff and the Class 12 GREEN WELLING LLP ROBERT S. GREEN (136183) 13 235 Pine Street, 15th Floor San Francisco, CA 94104 14 Telephone: 415/477-6700 415/477-6710 (fax) 15 Liaison Counsel for Plaintiff and the Class 16 UNITED STATES DISTRICT COURT 17 NORTHERN DISTRICT OF CALIFORNIA 18 In re PORTAL SOFTWARE, INC. ) Master File No. C-03-5138-VRW 19 SECURITIES LITIGATION ) ) CLASS ACTION 20 ) This Document Relates To: ) DECLARATION OF SANFORD SVETCOV 21 ) IN SUPPORT OF PLAINTIFFS’ ALL ACTIONS. ) OPPOSITION TO DEFENDANTS’ MOTION 22 ) TO DISMISS FOURTH CONSOLIDATED ) AMENDED COMPLAINT 23 DATE: March 23, 2006 24 TIME: 2:00 p.m. COURTROOM: 6, Hon. Vaughn R. Walker 25 26 27 28 Case 3:03-cv-05138-VRW Document 145 Filed 02/08/2006 Page 2 of 5 1 I, Sanford Svetcov, declare as follows: 2 I am a partner in the Lerach Coughlin Stoia Geller Rudman & Robbins LLP law firm, lead 3 counsel for plaintiffs and the class in this action. I am admitted to practice before this Court. I 4 submit this Declaration in Support of Plaintiffs’ Opposition to Defendants’ Motion to Dismiss 5 Fourth Consolidated Amended Complaint and Plaintiffs’ Request for Judicial Notice of New and 6 Additional Portal Documents for Incorporation in Fourth Consolidated Amended Complaint. 7 1. Attached hereto as plaintiffs’ Exhibit 1 are true and correct copies of Portal Software, 8 Inc.’s (“Portal” or the “Company”) Form 8-K dated 11/28/05, Form 8-K/A dated 12/23/05, and its 9 Form 8-K/A (Amendment No. 2), dated 12/30/05, with attachments. 10 2. Attached hereto as plaintiffs’ Exhibit 2 is a true and correct copy of the Bloomberg 11 Daily Stock Prices for Portal from 1/02/03 to 1/13/06. 12 3. Attached hereto as plaintiffs’ Exhibit 3 is a true and correct copy of the transcript of 13 Portal’s 8/19/03 conference call with market analysts to discuss the Company’s 2Q04 (ending 14 8/01/03) financial results. 15 4. Attached hereto as plaintiffs’ Exhibit 4 are true and correct copies of pertinent 16 excerpts from Portal’s Form 10-Q for 3Q04 (ending 10/31/03) filed with the SEC on 12/15/03. 17 5. Attached hereto as plaintiffs’ Exhibit 5 are true and correct copies of pertinent 18 excerpts from Portal’s Schedule 14A Proxy Statement for the Company’s 1/28/04 annual meeting 19 filed with the SEC on 12/23/03. 20 6. Attached hereto as plaintiffs’ Exhibit 6 is a true and correct copy of the Product Brief 21 from Portal’s website describing the “rating” function of its Infranet software. 22 I declare under penalty of perjury under the laws of the State of California that the foregoing 23 is true and correct. 24 Executed in San Francisco, California, on February 8, 2006. 25 26 /s/ Sanford Svetcov____________________ SANFORD SVETCOV 27 T:\CasesSF\Portal Software Fed\DEC00027509.doc 28 DEC. OF SANFORD SVETCOV IN SUPPORT OF PLAINTIFFS’ OPPOSITION TO DEFENDANTS’ MOTION TO DISMISS FOURTH CONSOLIDATED AMENDED COMPLAINT - C-03-5138-VRW - 1 - Case 3:03-cv-05138-VRW Document 145 Filed 02/08/2006 Page 3 of 5 1 DECLARATION OF SERVICE BY E-FILING 2 I, the undersigned, declare: 3 1. That declarant is and was, at all times herein mentioned, a citizen of the United States 4 and employed in the City and County of San Francisco, over the age of 18 years, and not a party to 5 or interested party in the within action; that declarant’s business address is 100 Pine Street, 6 Suite 2600, San Francisco, California 94111. 7 2. That on February 8, 2006, declarant served by e-filing pursuant to N.D. of Cal. 8 General Order No. 45, Electronic Case Filing Guidelines Sec. IX the DECLARATION OF 9 SANFORD SVETCOV IN SUPPORT OF PLAINTIFFS’ OPPOSITION TO DEFENDANTS’ 10 MOTION TO DISMISS FOURTH CONSOLIDATED AMENDED COMPLAINT to the parties 11 listed on the attached Service List and this document was forwarded to the following designated 12 Internet site at: 13 http://securities.lerachlaw.com/ 14 I declare under penalty of perjury that the foregoing is true and correct. Executed this 8th 15 day of February, 2006, at San Francisco, California. 16 17 /s/ Tamara J. Love TAMARA J. LOVE 18 19 20 21 22 23 24 25 26 27 28 Case 3:03-cv-05138-VRW Document 145 Filed 02/08/2006 Page 4 of 5 PORTAL SOFTWARE, INC. SEC. Service List - 2/7/2006 (04-0566) Page 1 of 2 Counsel For Defendant(s) Boris Feldman Nina F. Locker Peri B. Nielsen Wilson Sonsini Goodrich & Rosati, P.C. 650 Page Mill Road Palo Alto, CA 94304-1050 650/493-9300 650/493-6811(Fax) Counsel For Plaintiff(s) Christopher T. Heffelfinger Mel E. Lifshitz Michael W. Stocker Joseph R. Seidman, Jr. Joseph J. Tabacco, Jr. Bernstein Liebhard & Lifshitz, LLP Berman DeValerio Pease Tabacco Burt & Pucillo 10 East 40th Street 425 California St., Suite 2025 New York, NY 10016 San Francisco, CA 94104-2205 212/779-1414 415/433-3200 212/779-3218(Fax) 415/433-6382(Fax) Steven J. Toll Peter A. Binkow Daniel S. Sommers Lionel Z. Glancy Cohen, Milstein, Hausfeld & Toll, P.L.L.C. Michael M. Goldberg 1100 New York Ave., N.W., Suite 500 Glancy Binkow & Goldberg LLP Washington, DC 20005-3964 1801 Avenue of the Stars, Suite 311 202/408-4600 Los Angeles, CA 90067 202/408-4699(Fax) 310/201-9150 310/201-9160(Fax) Solomon B. Cera Robert S. Green Joseph M. Barton Green Welling LLP Gold Bennett Cera & Sidener LLP 595 Market Street, Suite 2750 595 Market Street, Suite 2300 San Francisco, CA 94105 San Francisco, CA 94105 415/477-6700 415/777-2230 415/477-6710(Fax) 415/777-5189(Fax) Case 3:03-cv-05138-VRW Document 145 Filed 02/08/2006 Page 5 of 5 PORTAL SOFTWARE, INC. SEC. Service List - 2/7/2006 (04-0566) Page 2 of 2 Christopher J. Keller Sanford Svetcov Jonathan M. Plasse Lerach Coughlin Stoia Geller Rudman & Labaton Sucharow & Rudoff LLP Robbins LLP 100 Park Avenue, 12th Floor 100 Pine Street, Suite 2600 New York, NY 10017-5563 San Francisco, CA 94111-5238 212/907-0700 415/288-4545 212/818-0477(Fax) 415/288-4534(Fax) Jonathan M. Stein Samuel H. Rudman Lerach Coughlin Stoia Geller Rudman & Robert M. Rothman Robbins LLP David A. Rosenfeld 197 S. Federal Highway, Suite 200 Lerach Coughlin Stoia Geller Rudman & Boca Raton, FL 33432 Robbins LLP 561/750-3000 58 South Service Road, Suite 200 561/750-3364(Fax) Melville, NY 11747 631/367-7100 631/367-1173(Fax) Marc Topaz Jeffrey M. Norton Schiffrin & Barroway, LLP Robert I. Harwood 280 King of Prussia Road Wechsler Harwood LLP Radnor, PA 19087 488 Madison Avenue, 8th Floor 610/667-7706 New York, NY 10022 610/667-7056(Fax) 212/935-7400 212/753-3630(Fax) EXHIBIT 1 :' inn 8-K Page 1 of 4 8-K 1 d8k.htm FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPOR T Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) : November 21, 200 5 PORTAL SOFTWARE, INC . (Exact name of Registrant as specified in its cha rter) Delaware 000-25829 77-0369737 (State or other jurisdiction of (Commission File Number) (I .R.S. Employer incorporation or organization) I dentification Number) 10200 South De Anza Boulevard Cupertino, CA 95014 (Address, including zip code, of principal executive offices) (408) 572-200 0 (Registrant' s telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A .2. below): ❑ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425) ❑ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240 .14a-12 ) ❑ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240 .14d-2(b)) ❑ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240 .13e-4(c) ) http ://www..sec.gov/Archives/edgar/data/1080306/000119312505232735/d8k.htrn 1/2/2006 loran 8-K Page 2 of 4 Item 2 .02 Results of Operations and Financial Conditio n On November 28, 2005, Portal Software, Inc . (the "Registrant") announced that it will restate its previously issued financial statements for the first, second and third quarters of fiscal 2005 and provided preliminary estimates of the principal effects of such restatements. The Registrant also released preliminary unaudited financial information for its third quarter ended October 28, 2005 . A copy of the press release issued by the Registrant concerning the foregoing preliminary unaudited financial information is furnished herewith as Exhibit 99 .1 . Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
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