Free Notice (Other) - District Court of California - California

Case 4:07-cv-04972-CW

Document 40

Filed 06/16/2008

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1 COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP 2 DENNIS J. HERMAN (220163) DANIEL J. PFEFFERBAUM (248631) 3 100 Pine Street, Suite 2600 San Francisco, CA 94111 4 Telephone: 415/288-4545 415/288-4534 (fax) 5 [email protected] [email protected] 6 Lead Counsel for Plaintiffs 7 UNITED STATES DISTRICT COURT 8 NORTHERN DISTRICT OF CALIFORNIA 9 OAKLAND DIVISION 10 JERRY TWINDE, On Behalf of Himself and ) No. 4:07-cv-04972-CW 11 All Others Similarly Situated, ) ) CLASS ACTION 12 Plaintiff, ) ) 13 vs. ) ) 14 THRESHOLD PHARMACEUTICALS, INC., ) et al., ) 15 ) Defendants. ) 16 ) ) No. 4:07-cv-04971-CW RAYNOLD L. GILBERT, On Behalf of 17 Himself and All Others Similarly Situated, ) ) CLASS ACTION 18 ) Plaintiff, ) 19 ) vs. ) 20 THRESHOLD PHARMACEUTICALS, INC., ) ) et al., 21 ) ) Defendants. 22 ) 23 24 25 26 27 28 NOTICE OF SUPPLEMENTAL AUTHORITY IN SUPPORT OF PLAINTIFFS' BRIEF IN OPPOSITION TO DEFENDANTS' MOTION TO DISMISS

Case 4:07-cv-04972-CW

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Plaintiffs hereby submit the recent decision of the Ninth Circuit in Berson v. Applied Signal

2 Tech., Inc., No. 06-15454, 2008 U.S. App. LEXIS 11982 (9th Cir. June 5, 2008), attached hereto as 3 Exhibit A, in support of Plaintiffs' Brief in Opposition to Defendants' Motion to Dismiss ("Pltfs' 4 Opp."), filed March 25, 2008. The decision is relevant to the following issues raised by the motion: 5 6 7 8 9 10 11 12 13 14 DATED: June 16, 2008 15 16 17 18 19 20 21 22 23 24 25 26 27 28 NOTICE OF SUPPLEMENTAL AUTHORITY IN SUPPORT OF PLTFS' BRIEF IN OPPOSITION TO DEFENDANTS' MOTION TO DISMISS - 4:07-cv-04972-CW -1T:\CasesSF\Threshold\NOT00051985.doc

1. Sufficiency of Scienter Allegations - Confidential witnesses who are nonmanagement employees can reliably infer or deduce company events or setbacks; crediting alleged interpretation of defendants' statements. Defendants' Notice of Motion and Motion to Dismiss Plaintiffs' Consolidated Amended Complaint for Violation of the Federal Securities Laws; Memorandum of Points and Authorities in Support Thereof ("Defs' Mot."), filed March 7, 2008, at 24 n.16; Pltfs' Opp. at 27-28; Berson, 2008 U.S. App. LEXIS 11982, at *2-*11. 2. Sufficiency of Scienter Allegations ­ Officers' and directors' knowledge of core business operations can be inferred from high ranking position; also distinguishing inferences drawn in In re Read-Rite Corp. Sec. Litig., 335 F.3d 843 (9th Cir. 2003) from No. 84 Employer-Teamster Joint Council Pension Trust Fund v. America West Holding Corp., 320 F.3d 920 (9th Cir 2003). Defs' Mot. at 23-24; Pltfs' Opp. at 26-27, 30-33; Berson, 2008 U.S. App. LEXIS 11982, at *11-*18. 3. Statutory Safe-Harbor and "Forward-Looking" Statements ­ Statements which describe the present are not subject to safe-harbor provisions. Defs' Mot. at 14-16; Pltfs' Opp. at 15-21; Berson, 2008 U.S. App. LEXIS 11982, at *19-*20. COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP DENNIS J. HERMAN DANIEL J. PFEFFERBAUM

s/ Daniel J. Pfefferbaum DANIEL J. PFEFFERBAUM 100 Pine Street, Suite 2600 San Francisco, CA 94111 Telephone: 415/288-4545 415/288-4534 (fax) Lead Counsel for Plaintiffs

Case 4:07-cv-04972-CW

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CERTIFICATE OF SERVICE I hereby certify that on June 16, 2008, I electronically filed the foregoing with the Clerk of

3 the Court using the CM/ECF system which will send notification of such filing to the e-mail 4 addresses denoted on the attached Electronic Mail Notice List, and I hereby certify that I have 5 mailed the foregoing document or paper via the United States Postal Service to the non-CM/ECF 6 participants indicated on the attached Manual Notice List. 7 I certify under penalty of perjury under the laws of the United States of America that the

8 foregoing is true and correct. Executed on June 16, 2008. 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 s/ Daniel J. Pfefferbaum DANIEL J. PFEFFERBAUM COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP 100 Pine Street, 26th Floor San Francisco, CA 94111 Telephone: 415/288-4545 415/288-4534 (fax) E-mail:[email protected]

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Mailing Information for a Case 4:07-cv-04972-CW
Electronic Mail Notice List
The following are those who are currently on the list to receive e-mail notices for this case. Kevin Anthony Burke [email protected] Michael L. Charlson [email protected],[email protected],[email protected] Marc S. Henzel [email protected] Dennis J. Herman [email protected],[email protected],[email protected],[email protected],[email protected] Alexander M.R. Lyon [email protected],[email protected] Daniel Jacob Pfefferbaum [email protected] Darren Jay Robbins [email protected] Samuel H. Rudman [email protected] Evan J. Smith [email protected] Laurence Andrew Weiss [email protected]

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Mary K. Blasy Coughlin Stoia Geller Rudman & Robbins LLP 655 West Broadway Suite 1900 San Diego, CA 92101

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6/16/2008