Securities Litigation: Jabil Circuit

Edward J. Goodman Life Income Trust v. Jabil Circuit, Inc.
USDC MD Florida
Option Timing

Company background

Litigation background

Lead plaintiffs

Laborers Pension Trust Fund for Northern California and Pension Trust Fund for Operating Engineer

SEC disclosure

Form 10-Q 7.08.08 At page 49
..., on April 9, 2008, the court dismissed the First Amended Consolidated Class Action Complaint without prejudice and with leave to amend such complaint on or before May 12, 2008. On May 12, 2008, plaintiffs filed a Second Amended Class Action Complaint. The Second Amended Class Action Complaint asserts substantially the same causes of action against the same defendants, predicated largely on the same allegations of fact as in the First Amended Consolidated Class Action Complaint except insofar as plaintiffs added KPMG LLP, our independent registered public accounting firm, as a defendant and added additional allegations with respect to (a) pre-class period option grants, (b) the professional background of certain defendants, (c) option grants to non-executive employees, (d) our restatement of our financial results for certain periods between 1996 and 2005 and (e) trading by the named plaintiffs and certain of the defendants during the class period. The Second Amended Class Action Complaint also includes an additional claim for insider trading against certain defendants pursuant to Rules 10b-5 and 10b5-1 promulgated pursuant to the Exchange Act. We believe that the Second Amended Class Action Complaint is as without merit as the First Amended Consolidated Class Action Complaint and we will continue to vigorously defend the action, although no assurance can be given as to the ultimate outcome of any such further proceedings.

Complaint

Company motion

Supplemental filings

Opinion

The defendants motion to dismiss is GRANTED. Counts one, two, three, and four are DISMISSED WITHOUT PREJUDICE. The lead plaintiffs amend the complaint on or before Monday, 5.12.08. The defendants request for oral argument is DENIED AS MOOT.

Lead plaintiff

Company defense

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