In Re Medtronic Inc., Securities Litigation

MEMORANDUM OPINION AND ORDER

RICHARD H. KYLE, District Judge.

INTRODUCTION

Plaintiffs claiming securities fraud are required under the Private Securities Litigation Reform Act (“the Reform Act”) to allege the defendants’ fraudulent acts and mental state with particularity. 15 U.S.C. § 78u-4(b). These requirements exist because “securities fraud actions ... if not adequately contained, can be employed abusively to impose substantial costs on companies and individuals whose conduct conforms to the law.” Tellabs, Inc. v. Makor Issues & Rights, Ltd., 551 U.S. 308, 127 S.Ct. 2499, 2504, 168 L.Ed.2d…