Northern District Of California Denies In Part Motion To Dismiss Securities Class Action Against Cloud Software Company

On February 23, 2026, Judge P. Casey Pitts of the United States District Court for the Northern District of California denied in part a motion to dismiss a securities fraud putative class action against a cloud-based call center operation software company (the “Company”) and two of its officers—its CEO and former CFO (the “Individual Defendants”)—alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), and Rule 10b-5 promulgated thereunder.... By: A&O Shearman