Securities Litigation: NVE

In re NVE Corporation Securities Litigation
USDC Minnesota
Disclosure; Post-Tellabs

Company background

Litigation background

Complaint

Claims

Motion to dismiss

Court grants defendant's motion to dismiss

Overall, the Court holds that Plaintiffs have failed to adequately plead scienter by the Individual Defendants with regards to any claims, and by extension, have failed to adequately plead scienter by NVE. This overall failure to plead scienter is adequate grounds for dismissal of the entire Amended Complaint. Furthermore, as previously noted, many of the statements are not false, are inactionable puffery, or are protected by the bespeaks caution doctrine. At page 63
Court doesn't cite Supreme Court's Tellabs decision