Cohen Milstein represents Pavers and Road Builders Pension, Annuity, and Welfare Funds in pending litigation against SanDisk Corporation (“SanDisk”); the Company’s former Chief Executive Officer (“CEO”), Sanjay Mehrotra (“Mehrotra”); and the Company’s former Chief Financial Officer (“CFO”), Judy Bruner (“Bruner”). The case is pending in the United States District Court for the Northern District of California.
On July 15, 2016, Plaintiffs filed a Second Amended Consolidated Complaint (“Complaint”) asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Complaint alleges that Defendants made false and misleading statements regarding SanDisk’s supposed success integrating a key corporate acquisition for its all-important enterprise solid-state drive (“SSD”) business, the breadth and quality of SanDisk enterprise SSDs, and the strength of SanDisk’s enterprise sales team and strategy, even as a host of undisclosed problems with the integration and the enterprise business caused SanDisk’s. On June 22, 2017, the Honorable Vince Chhabria denied, in part, Defendants’ motion to dismiss, and permitted Plaintiffs’ qualitative claims regarding SanDisk’s enterprise business to go forward. The case is currently in discovery.