Kamkari v. Sonic Solutions
Koorosh Kamkari appeals from an order sustaining respondents demurrer to his complaint for breach of fiduciary duty and violations of the California Corporations Code and dismissing his complaint. His claims against Sonic Solutions and a number of its officers and directors are based on allegations that the defendants made misrepresentations and failed to disclose material facts regarding improper backdating of stock options; that the backdating practices resulted in overstatement of the companys value; and that, as a result, appellant and class members paid artificially inflated prices for their shares of Sonic stock. Appellant argues the trial court erred in concluding that certain of his claims were preempted under federal law and others were derivative. Court affirm.
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