Bains v. Moores
California Court of Appeal
1Opinion of the Court
Opinion
AARON, J.—
I
INTRODUCTION
In February 2003, Robert Reese Bains III and a group of former Peregrine Systems, Inc. (Peregrine), shareholders (collectively plaintiffs) filed this action against former Peregrine directors John J. Moores, Charles E. Noell in, and Christopher A. Cole (collectively defendants), as well as several former Peregrine employees, Peregrine’s former outside accounting firm, and two of Peregrine’s former business partners. In their complaint, plaintiffs alleged that they had been induced to hold Peregrine stock from May 1997 through 2002 by Peregrine’s false, fraudulent…
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