The U.S. District Court for the Northern District of California March 29 ruled that OmniVision Technologies Inc.(OVTI) investors may proceed with securities fraud claims as to two statements made by a senior official of the smartphone sensor maker (In re OmniVision Technologies Inc. Securities Litigation).
The challenged statements relate to OmniVision’s alleged competition with Sony to provide image sensors for use in Apple smart phones.
Judge Ronald Whyte explained that OmniVision’s sensors are used in mobile phones with camera features, including smartphones. The individual defendants are senior officials of OmniVision, the court wrote.
iPhones.
The court noted ...
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