In Re Bann Co. Securities Litigation

MEMORANDUM OPINION

HUVELLE, District Judge.

This is a class action brought on behalf of all persons who purchased or otherwise acquired the securities of Baan Company (“Baan”) between January 28, 1997 and October 12, 1998 (the “Class Period”). 1 Plaintiffs have alleged that defendants 2 made materially false and misleading statements about Baan’s business, finances and future prospects, in violation of the Securities Exchange Act of 1934,15 U.S.C. § 78a (1997), specifically sections 10(b), 15 U.S.C. § 7$¡(b), and 20(a), 15 U.S.C. 78t(a). 3 Two defendants, Vanenburg Group, B.V. 4 (“Vanenburg”)…