United States Ninth Circuit

In an action on behalf of a corporation under Section 16(b) of the Securities Exchange Act of 1934 to recover short-swing profits from the company's executives, the dismissal of the complaint is affirmed, where the statute of limitations had expired and was not tolled by allegedly inaccurate Section 16(a) disclosures.

Appellate Information

• Argued 03/12/2009
• Decided 06/05/2009
• Published 06/05/2009

Judges

• Before: M. MARGARET McKEOWN and SANDRA S. IKUTA, Circuit Judges, and DONALD E. WALTER, Senior District Judge.

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Willem F. Jonckheer, Aaron Darsky, Robert Schubert, Schubert & Reed LLP, San Francisco, CA, Paul D. Wexler, Bragar, Wexler & Eagel, PC, New York, NY, Glenn F. Ostrager, Ostrager Chong Flaherty & Broitman, New York, NY, for the plaintiff-appellant.


• For Appellees:
  
• Robin E. Wechkin, Heller Ehrman LLP, Seattle, WA, Robert B. Buehler, Heller Ehrman LLP, New York, NY, Norman J. Blears, Alexander M.R. Lyon, Heller Ehrman LLP, Menlo Park, CA, for defendant-appellee Antonio Canova., Nina F. Locker, Steven D. Guggenheim, Katherine L. Henderson, Wilson Sonsini Goodrich & Rosati, PC, for defendant-appellee Brocade Communications Systems, Inc., Thomas Christopher, Skadden, Arps, Slate, Meagher & Flom LLP, San Francisco, CA, Garrett J. Waltzer, Morgan K. Lopez, Skadden, Arps, Slate, Meagher & Flom LLP, Palo Alto, CA, Richard Marmaro, Skadden, Arps, Slate, Meagher & Flom LLP, Los Angeles, CA, for defendant-appellee Gregory L. Reyes., Anthony A. De Corso, Eric A. Gressler, Orrick, Herrington & Sutcliffe LLP, Los Angeles, CA, for defendant-appellee Jack Cuthbert., John M. Potter, Scott G. Lawson, Patrick C. Doolittle, Josh A. Cohen, Quinn Emanuel Urquhart Oliver & Hedges, LLP, San Francisco, CA, for defendant-appellee Michael Byrd.