Case3:09-cv JSW Document1 Filed09/11/09 Page1 of 17. to 5 E LJ. Defendants. )

Transcription

1 Case3:09-cv JSW Document1 Fled09/11/09 Page1 of 17 46^ ft,.^^ ^^^.. b 1 l 2 T ^,.! ^^ cay ;,,;^ r ^`+^ 3 rr,'. 11 Q u- 4 + ^. to 5 E LJ 6 7 P 8 9 J 10 F A 13 UNTED STATES DSTRCT COURT 14 NORTHERN DSTRCT OF CALFORNA 15 ) CVL ACTON NO. j 16 G ) 17 SMLARLY STUATED, " CV V 18 Plantff, ) CLASS ACTON COMPL, 19 ) VS. 20 ) UCBH HOLDNGS, NC., THOMAS S. ) JURY TRAL DEMANDED 21 WU, AND EBRAHM SHABUDN, ) 22 ) Defendants. ) Plantff 26 stuated, by hs undersgned attorneys, for hs complant aganst defendants, alleges he 27 followng based upon personal knowledge as to hmself and hs own acts, nd 28 CLNSS ACTON COMPLANT FOR VOLATONS OF THE FEDERAL SECURTES LAWS '

2 Case3:09-cv JSW Document1 Fled09/11/09 Page2 of 17 1 nformaton and belef as to all other matters, based upon, nter ala, the nvestga on 2 conducted by and through hs attorneys, whch ncluded, among other thngs, a reve of 3 the defendants' publc documents, conference calls and announcements made by 4 defendants, Unted States Securtes and Exchange Commsson ("SEC") flngs, wre d l 5 press releases publshed by and regardng UCBH Holdngs Corp. ("UCBH," or he 6 "Company"), securtes analysts' reports and advsores about the Company, r d 7 nformaton readly obtanable on the nternet. Plantff beleves that substa dal 8 evdentary support wll exst for the allegatons set forth heren after a reason. le 9 opportunty for dscovery. 10 NATURE OF THE ACTON Ths s a federal securtes class acton on behalf of a class consstng o all persons other than defendants and ther executve offcers and drectors who urch. l'ed 12 P p 13 the securtes of UCBH durng the perod from Aprl 24, 2008 through Septembe 18, , nclusve ( the "Class Perod" ), seekng to recover damages caused by Defendants ' 15 volatons of federal securtes laws and pursue remedes under the Securtes Excha ge 16 Act of 1934 (the "Exchange Act"). 17 JURSDCTON AND VENUE The clams asserted heren arse under and pursuant to Sectons 10(b) nd 19 20(a) of the Exchange Act, (15 U.S.C. 78j(b) and 78t(a)), and Rule Ob-5 promulg. ed 20 thereunder (17 C.F.R b-5) Ths Court has jursdcton over the subject matter of ths acton purs nt 22 to 27 of the Exchange Act (15 U.S.C. 78aa) and 28 U.S.C Venue s proper n ths Judcal Dstrct pursuant to 27 of the Exch. ' ge 24 Act, 15 U.S.C. 78aa and 28 U.S.C. 1391(b). UCBH's prncpal place of busne l. s 25 n the Northern Dstrct of Calforna and Defendants Wu and Shabudn resde n he 26 Northern Dstrct of Calforna. Many of the acts and transactons alleged he n, CLASS ACTON C0 -,%1P.ANT FOR VOLATONS OF THE FEDERAL SECURTES LAWS Z r

3 Case3:09-cv JSW Document1 Fled09/11/09 Page3 of 17 1 ncludng the preparaton and dssemnaton of materally false and mslea4 ^, g 2 nformaton, occurred n substantal part n ths Dstrct n connecton wth the acts, conduct and other wrongs alleged n ^ s 4 complant, defendants, drectly or ndrectly, used the means and nstrumentalte!of 5 nterstate commerce, ncludng but not mted to, the Unted States mals, nters +: to 6 telephone communcatons and the facltes of the natonal securtes exchange. 7 PARTES 8 6. Plantff 9 ncorporated by reference heren, purchased UCBH securtes at artfcally nflated pr es 10 durng the Class Perod and has been damaged thereby Defendant UCBH Holdngs, nc. s a Delaware corporaton wth ts 12 prncpal executve offces located at 555 Montgomery Street, San Francsco, CA. U W H 13 s a bank holdng company. Durng the Class Perod the Company's common st[ ck 14 traded on the NASDAQ under tcker "UCBH." 15 8 Defendant Thomas S. Wu ("Wu") served as the Company's C O, 16 Presdent and Charman of the Board of Drectors untl hs resgnaton on SeptembJ 8, Defendant Ebrahm Shabudn served as the Chef Credt Offcer ("CC 19 of UCBH untl hs resgnaton on September 8, Wu and Shabudn are referred to heren as the ndvdual Defendants Durng the Class Perod, defendant Wu, as CEO, and Shabudn as 0 O 22 were prvy to non-publc nformaton concernng the Company's busness, fnan, es, 23 products, markets, and present and future busness prospects va access to ntj al w 24 corporate documents, conversatons and connectons wth other corporate offcers nd 25 employees, attendance at management and Board of Drectors meetngs and comm -es 26 thereof and va reports and other nformaton provded to hm n connecton there th. 27 Because of ther possesson of such nformaton, the defendants Wu and Shabudn few 28 CLASS ACTON CONPL.ANT FOR VOLATONS OF THE FEDERAL SECURTES LAWS 3 P

4 Case3:09-cv JSW Document1 Fled09/11/09 Page4 of 17 1 or recklessly dsregarded the fact that adverse facts specfed heren had not b'en 2 dsclosed to, and were beng concealed from, the nvestng publc Defendants Wu and Shabudn because of ther postons of control 'nd 4 authorty as CEO, Presdent, and Charman of the Board of the Company, were abl to 5 and dd control the content of the varous SEC flngs, press releases and other pu lc 6 statements pertanng to the Company durng the Class Perod. Defendants Wu 'nd 7 Shabudn were provded wth copes of the documents alleged heren to be msleac ng 8 pror to or shortly after ther ssuance and/or had the ablty and/or opportunty to pre.,nt 9 ther ssuance or cause them to be corrected. Accordngly, defendants Wu and ShabL fn 10 are responsble for the accuracy of the publc reports and press releases detaled he n 11 and are therefore prmarly lable for the representatons contaned theren. 12 PLANTFF'S CLASS ACTON ALLEGATONS Plantff brngs ths acton as a class acton pursuant to Federal Rule' of 14 Cvl Procedure 23(a) and (b)(3) on behalf of a Class, consstng of all persons ho 15 purchased shares of UCBH common stock and optons to purchase common stock du,.ng 16 the Class Perod and who were damaged thereby. Excluded from the Class 'are 17 defendants, the offcers and drectors of the Company, at all relevant tmes, member of 18 ther mmedate famles and ther legal representatves, hers, successors or assgns end 19 any entty n whch defendants have or had a controllng nterest The members of the Class are so numerous that jonder of all membe '. s 21 mpractcable. Throughout the Class Perod, UCBH's securtes were actvely trades on 22 the NASDAQ. Whle the exact number of Class members s unknown to Plantff at 'hs 23 tme and can only be ascertaned through approprate dscovery, Plantff beleves at 24 there are at least hundreds of members n the proposed Class. Members of the Class ay 25 be dentfed from records mantaned by UCBH or ts transfer agent and may be not ^ed 26 of the pendency of ths acton by mal, usng a form of notce customarly use, n 27 securtes class actons. 28 CLASS ACTON COMPLANT FOR VOLATONS OF THE FEDERAL SECURTES LAWS 4

5 Case3:09-cv JSW Document1 Fled09/11/09 Page5 of 17 fr+' Plantff's clams are typcal of the clams of the members of the Class as 2 all members of the Class are smlarly affected by defendants' wrongful conduce; n 3 volaton of federal law that s complaned of heren Plantff wll farly and adequately protect the nterests of the member; of 5 the Class and has retaned counsel competent and experenced n class and secur ' es 6 ltgaton. j Common questons of law and fact exst as to all members of the C ss 8 and predomnate over any questons solely affectng ndvdual members of the C1:'ss. 9 Among the questons of law and fact common to the Class are: 10 (a) whether the federal securtes laws were volated by defendants' act as 11 alleged heren; 12 (a) whether statements made by defendants to the nvestng publc du ng 13 the Class Perod msrepresented materal facts about the busness, fnancal performal e, 14 and management of UCBH; and 15 (a) to what extent the members of the Class have sustaned damages nd 16 the proper measure of damages A class acton s superor to all other avalable methods for the far nd 18 effcent adjudcaton of ths controversy, snce jonder of all members s mpractc le. 19 Furthermore, as the damages suffered by ndvdual Class members may be relat ly 20 small, the expense and burden of ndvdual ltgaton make t mpossble for membe ' of 21 the Class to redress ndvdually the wrongs done to them. There wll be no dffcult y! n 22 the management of ths acton as a class acton. 23 ALLEGATONS OF FRAUD On Aprl 24, 2008, UCBH ssued a press release announcng ts fna al 25 results for the frst quarter of 2008, ncludng net ncome of $2.2 mllon. The. 'ess 26 release also stated that the provson for loan losses s $35.1 mllon, net loan charge ffs 27 are $12.3 mllon and non-performng assets are $185.1 mllon. 28 CLASS ACTON COMPLANT FOR VOLATONS OF THE FEDERAL SECURTES LAWS 5

6 Case3:09-cv JSW Document1 Fled09/11/09 Page6 of 17 ^,+1 ^j On May 9, 2008, UCBH fled a quarterly report wth the SEC, at 2 contaned fnancal statements consstent wth the fnancal nformaton n ts Aprl 114, press release On July 24, 2008, UCBH ssued a press release announcng ts fnam al 5 results for the second quarter of 2008, ncludng net ncome of $7.7 mllon. The p ss 6 release also stated that the provson for loan losses s $32.6 mllon, net loan charge-l s 7 are $26.2 mllon and non-performng assets $200 mllon On August 11, 2008, UCBH fled a quarterly report wth the SEC t at 9 contaned fnancal statements consstent wth the fnancal nformaton n ts July 4, press release On October 23, 2008, UCBH ssued a press release announcng ts 12 fnancal results for the thrd quarter of 2008, ncludng a net loss of $493,000. The p `' ss 13 release also stated that the provson for loan losses s $43.2 mllon, net loan charge-+offs 14 are $31.1 mllon and non-performng assets were $251.6 mllon On November 10, 2008, UCBH fled a quarterly report wth the SEC at 16 contaned fnancal statements consstent wth the fnancal nformaton n ts Octobe 3, press release On January 22, 2009, UCBH ssued a press release announcn: ts 19 fnancal results for the fourth quarter and full fscal year 2008, ncludng a quarterl 'net 20 loss of $53.7 mllon. The press release also stated that the provson for loan loss:'. s 21 $ mllon for the e quarte r and a $ mllon for the e full-year, y net loan charge^'^ffs 22 were $43.6 mllon for the quarter and $113.2 mllon for the year, and non-perfor Png 23 assets were $433.8 mllon as of December On March 16, 2009, UCBH fled ts annual report on Form 10-K wt the 25 SEC that contaned fnancal statements for fscal year The annual report sted 26 that net loss for the full fscal-year 2008 was $67.7 mllon. The annual report also s ll'ted CLASS ACTON COMPLANT FOR VOLATONS OF THE FEDERAL SECURTES LAWS j 6

7 r Case3:09-cv JSW Document1 Fled09/11/09 Page7 of 17 1 that the provson for loan losses was $262.9 mllon, and net loan charge-offs w;re 2 $113.2 mllon The fnancal statements and nformaton ssued by UCBH n ts p 'ss 4 releases, quarterly reports and annual reports for fscal year 2008 set forth above re 5 false and msleadng because UCBH ntentonally concealed mllons of dollars of l n 6 charge-offs and mountng bad loans On May 20, 2009, UCBH fled a report on form 8-K statng the Comp : Hy 8 would have to restate ts fnancal statements for 2008 because "certan loan mparme ts, 9 and related reserves and charge-offs assocated wth specfc collateral dependent 1 ns 10 and other real estate owned propertes whch had been analyzed and recorded durng he 11 frst quarter of 2009, should have been more approprately recorded and reflected n he 12 fourth quarter of 2008." On September 8, 2009, the Company ssued a press release dsclosng; or 14 the frst tme the fraud engaged n by defendants. UCBH admtted that ts managers ad 15 ntentonally concealed mllons of dollars n bad loans to hde the full extent of the elan 16 losses and the rapdly ncreasng level of non-performng loans at UCBH n each o ts F! 17 quarterly and fscal year 2008 fnancal statements and press releases The ndvdual Defendants were forced to resgn as a result of the frau '' 19 DEFENDANTS CAUSED PLANTFF'S LOSSES! Durng the Class Perod, defendants engaged n a scheme to decev-!the 21 market and a course of conduct that artfcally nflated UCBH's share prce and oper: ted 22 as a fraud or decet on purchasers of UCBH shares by msrepresentng the Comp.l' y's 23 fnancal condton and busness prospects. Once defendants' msrepresentatons :nd 24 fraudulent conduct were dsclosed to the market, UCBH's share prce reacted negat ely l 25 as the artfcal nflaton was removed from ts share prce. As a result of ther purc ses 26 of UCBH's shares durng the Class Perod, Plantff and other members of the 1 ass 27 suffered economc loss. 28 CLASS ACTON COMPLANT FOR VOLATONS OF THE FEDERAL SECURTES LAWS 7

8 Case3:09-cv JSW Document1 Fled09/11/09 Page8 of Durng the Class Perod, defendants' false and msleadng statements ' d 2 the ntended effect and caused UCBH shares to trade at artfcally nflated le s 3 throughout the Class Perod As nvestors and the market became aware of UCBH's pror msstatem s 5 and omssons and that UCBH's actual fnancal condton and busness prospects w 're, 6 n fact, not as represented, UCBH's share prce reacted negatvely, damagng nvestors On September 8, 2009, UCBH dsclosed the results of ts nvestgato of 8 the mproper accountng practces and the resgnatons of the ndvdual Defendants. 's a 9 result UCBH stock prce dropped 14% damagng nvestors Had Plantffs known the truth behnd the Company's dsclosures, ' ey 11 would not have purchased the Company's shares or would have purchased the shares 't a 12 much lower market prce. 13 Applcablty of Presumpton of Relance: 14 Fraud-on-the-Market Doctrne At all relevant tmes, the market for UCBH's common stock w.. an 16 effcent market for the followng reasons, among others. 17 (a) UCBH's stock met the requrements for lstng, and was lsted'=nd 18 actvely traded on the NASDAQ, a hghly effcent and autom. :d 19 market; 20 (b) Durng the Class Perod, on average, mllons of shares of UCBH st `,k 21 were traded on a weekly bass, demonstratng a very actve and bro, 22 market for UCBH stock and permttng a very strong presumpton an 23effcent market; 24 (c) As a regulated ssuer, UCBH fled perodc publc reports wth.he 25 SEC and the NASDAQ; 26 (d) UCBH regularly communcated wth publc nvestors va 27 establshed market communcaton mechansms, ncludng 28 CLASS ACTON COMPLANT FOR VOLATONS OF THE FEDERAL SECURTES LAWS 8

9 Case3:09-cv JSW Document1 Fled09/11/09 Page9 of 17 1 through regular dssemnatons of press releases on the naton. 2 crcuts of major newswre servces and through other wde- 3 rangng publc dsclosures, such as communcatons wth the 4 fnancal press and other smlar reportng servces; and 5 (e) UCBH was followed by securtes analysts employed at 6 brokerage frms who wrote reports that were dstrbuted to t 7 sales force and certan customers of ther respectve brokerage 8 frms durng the Class Perod. Each of these reports was publ lly 9 avalable and entered the publc marketplace. 10 (f) Numerous NASD member frms were actve market-makers n l 1 UCBH stock at all tmes durng the Class Perod; 2 (g) Unexpected materal news about UCBH was rapdly reflected a 13 ncorporated nto the Company's stock prce durng the Class 14 Perod As a result of the foregong, the market for UCBH's shares prom,,ly 1 E 16 dgested current nformaton regardng UCBH from all publcly avalable sources 'nd 17 reflected such nformaton n UCBH's stock prce. Under these crcumstances, all 18 purchasers of UCBH's shares durng the Class Perod suffered smlar njury through t,er 19 purchase of UCBH's shares at artfcally nflated prces and a presumpton of rel. ce 20 apples. 21 FRST CLAM 22 Volaton of Secton 10(b) of 23 The Exchange Act and Rule 10b-5 24 Promulzated Thereunder Azanst All Defendants b r Plantff repeats and re-alleges each and every allegaton conta ed s 27 above as f fully set forth heren. j 28 CLASS ACTON COMPLANT FOR VOLATONS OF THE FEDERAL SECURTES LAWS 9

10 Case3:09-cv JSW Document1 Fled09/11/09 Page10 of Durng the Class Perod, each of the defendants carred out a plan, sche e 2 and course of conduct whch was ntended to and, throughout the Class Perod, dd: j ) 3 deceve the nvestng publc, ncludng Plantff and other Class members, as alletl'd 4 heren; and (2) cause Plantff and other members of the Class to purchase UC H 5 securtes at artfcally nflated prces. n furtherance of ths unlawful scheme, plan. d 6 course of conduct, Defendants, and each of them, took the actons set forth heren Defendants (a) employed devces, schemes, and artfces to defra d; g (b) made untrue statements of materal fact and/or omtted to state materal f. s 9 necessary to make the statements not msleadng; and (c) engaged n acts, practces, an a 10 course of busness whch operated as a fraud and decet upon the purchasers of ^' e 11 Company's shares n an effort to mantan artfcally hgh market prces for UCB 's 12 shares n volaton of Secton 10(b) of the Exchange Act and Rule Ob-5. All Defend s 13 are sued ether as prmary partcpants n the wrongful and llegal conduct charged he, n 14 or as controllng persons as alleged below Defendants, ndvdually and n concert, drectly and ndrectly, by the '. e, 16 means or nstrumentaltes of nterstate commerce and/or of the mals, engaged :nd 1 17 partcpated n a contnuous course of conduct to conceal adverse materal nforma on 18 about the busness, operatons and future prospects of UCBH as specfed heren These defendants employed devces, schemes and artfces to defr d, 20 whle n possesson of materal adverse non-publc nformaton and engaged n. ts, 21 practces, and a course of conduct as alleged heren n an effort to assure nvestor of 22 UCBH's value and performance and contnued substantal growth, whch ncluded he 23 makng of, or partcpaton n the makng of, untrue statements of materal facts nd 24 omttng to state materal facts necessary n order to make the statements made a,,1''*tt 25 UCBH and ts busness operatons and future prospects, n the lght of the crcumsta 1, es 26 under whch they were made, not msleadng, as set forth more partcularly heren, nd CLASS ACTON COMPLANT FOR VOLATONS OF THE FEDERAL SECURTES LAWS 10

11 Case3:09-cv JSW Document1 Fled09/11/09 Page11 of 17 1 engaged n transactons, practces and a course of busness whch operated as a fraud. d 2 decet upon the purchasers of UCBH's shares durng the Class Perod The Defendants had actual knowledge of the msrepresentatons d 1 1 th 4 omssons of materal facts set forth heren, or acted wth reckless dsregard for the t 5 n that they faled to ascertan and to dsclose such facts, even though such facts w re 6 avalable to them. Such Defendants' materal msrepresentatons and/or omssons re 7 done knowngly or recklessly and for the purpose and effect of concealng UCB ' s 8 operatng condton and future busness prospects from the nvestng publc. d 9 supportng the artfcally nflated prce of ts shares. As demonstrated by defenda ff( s' 10 overstatements and msstatements of the Company's fnancal condton throughout!he 11 Class Perod, Defendants, f they dd not have actual knowledge of the msrepresentat; ns 12 and omssons alleged, were reckless n falng to obtan such knowledge by delbera ly 13 refranng from takng those steps necessary to dscover whether those statements re 14 false or msleadng As a result of the dssemnaton of the materally false and msleal,ng 16 nformaton and falure to dsclose materal facts, as set forth above, the market prc;, of 17 UCBH's shares was artfcally nflated durng the Class Perod. n gnorance of the. ct 18 that market prces of UCBH's shares were artfcally nflated, and relyng drectl or 19 ndrectly on the false and msleadng statements made by defendants, or upon he 20 ntegrty of the market n whch the shares trade, and/or on the absence of mat: al 21 adverse nformaton that was known to or recklessly dsregarded by defendants but of 22 dsclosed n publc statements by defendants durng the Class Perod, plantff and! he 23 other members of the Class acqured UCBH shares durng the Class Perod at artfc", lly 24 hgh prces and were or wll be damaged thereby At the tme of sad msrepresentatons and omssons, Plantff and er 26 members of the Class were gnorant of ther falsty, and beleved them to be true. ad 27 Plantff and the other members of the Class and the marketplace known the th 28 CLASS ACTON CO'MPL.ANT FOR VOLATONS OF THE FEDERAL SECURTES LAWS 11

12 Case3:09-cv JSW Document1 Fled09/11/09 Page12 of 17 1 regardng UCBH's fnancal results, whch were not dsclosed by Defendants, Plan ff 2 and other members of the Class would not have purchased or otherwse acqured t t 3 UCBH shares, or, f they had acqured such shares durng the Class Perod, they wo d 4 not have done so at the artfcally nflated prces that they pad By vrtue of the foregong, Defendants have volated Secton 10(b) of e 6 Exchange Act, and Rule l Ob-5 promulgated thereunder As a drect and proxmate result of Defendants' wrongful cond t, 8 Plantff and the other members of the Class suffered damages n connecton wth t t 9 respectve purchases and sales of the Company's shares durng the Class Perod Ths acton was fled wthn two years of dscovery of the fraud and w n 1 fve years of plantff's purchases of securtes gvng rse to the cause of acton. 12 SECOND CLAM 13 Volaton of Secton 20(a) of 14 The Exchan ge Act Aganst the ndvdual Defendants Plantff repeats and re-alleges each and every allegaton contaned ab ve 16 as f fully set forth heren Defendants Wu and Shabudn acted as controllng persons of U 61 H 18 wthn the meanng of Secton 20(a) of the Exchange Act as alleged heren. By vrtj of 19 ther hgh-level postons, and ownershp and contractual rghts, partcpaton n an l'/or 20 awareness of the Company's operatons and/or ntmate knowledge of the false fna al 21 statements fled by the Company wth the SEC and dssemnated to the nvestng pu ^` c, 22 the Defendants Wu and Shabudn had the power to nfluence and control and d 23 nfluence and control, drectly or ndrectly, the decson-makng of the Comp :' y, 24 ncludng the content and dssemnaton of the varous statements whch pla ' ff 25 contends are false and msleadng. Defendants Wu and Shabudn were provded wt l' or 26 had unlmted access to copes of the Company's reports, press releases, publc flngs ': nd t 27 other statements alleged by plantff to be msleadng pror to and/or shortly after t!ese 28 CLASS ACTON COMPL-UNT FOR VOLATONS OF THE FEDERAL SECURTES LAWS 12

13 Case3:09-cv JSW Document1 Fled09/11/09 Page13 of 17 1 statements were ssued and had the ablty to prevent the ssuance of the statements o!to 2 cause the statements to be corrected n artcular, each of these defendants had drect and su ervs ^ p p ry 4 nvolvement n the day-to-day operatons of the Company and, therefore, s presumes ;to 5 have had the power to control or nfluence the partcular transactons gvng rse to e 6 securtes volatons as alleged heren, and exercsed the same As set forth above, UCBH and Defendants Wu and Shabudn each vol -'1-d g Secton 10(b) and Rule l Ob-5 by ther acts and omssons as alleged n ths Complant By vrtue of ther postons as controllng persons, Defendant Wu d 10 Shabudn are lable pursuant to Secton 20(a) of the Exchange Act. As a drect d 11 proxmate result of defendants' wrongful conduct, plantff and other members of he 12 Class suffered damages n connecton wth ther purchases of the Company's sh. l es 13 durng the Class Perod Ths acton was fled wthn two years of dscovery of the fraud and w n 15 fve years of each plantff's purchases of securtes gvng rse to the cause of acton. 16 WHEREFORE, plantff prays for relef and judgment, as follows: 17 (a) Determnng that ths acton s a proper class acton, desgna ng 18 plantff as Lead Plantff and certfyng plantff as a class representatve under Rul; of the Federal Rules of Cvl Procedure and plantff's counsel as Lead Counsel; 1 20 (b) Awardng compensatory damages n favor of plantff and the o er 21 Class members aganst all defendants, jontly and severally, for all damages sustaned s a 22 result of defendants' wrongdong, n an amount to be proven at tral, ncludng nt; est 23 thereon; 24 (c) Awardng plantff and the Class ther reasonable costs and expe ses 25 ncurred n ths acton, ncludng counsel fees and expert fees; and 26 (d) Such other and further relef as the Court may deem just and grope,'; CLASS ACTON COMPLANT FOR VOLATONS OF THE FEDERAL. SECURTES LAWS 13

14 Case3:09-cv JSW Document1 Fled09/11/09 Page14 of 17 1 JURY TRAL DEMANDED 2 Plantff hereby demands a tral by jury. 3 4 Dated: September 11, 2009 Respectfully submtted, { CLASS AC;tTON CON'LAw FOR VOLATONS OF THE FEDERAL SECURTES LAWS 14