MEYERS v. MOODY

No. 80-1145.

693 F.2d 1196 (1982)

David C. MEYERS, et al., Plaintiffs-Appellees, v. Shearn MOODY, Jr., Defendant-Appellant. Bernard HAINES, et al., Plaintiffs-Appellees, v. Shearn MOODY, Jr., Defendant-Appellant. Tharpe FORRESTER, Receiver-Appellee, v. Shearn MOODY, Jr., Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

Rehearing and Rehearing Denied March 1, 1983.


Attorney(s) appearing for the Case

William E. Junell, Jr., Joe Reynolds, Houston, Tex., John M. Harmon, Austin, Tex., for defendant-appellant.

Will E. Wright, Larry G. Patton, Houston, Tex., Robert L. Blumenthal, Dallas, Tex., James W. Webb, Montgomery, Ala., for Tharpe Forrester.

Before THORNBERRY, REAVLEY and JOHNSON, Circuit Judges.


Rehearing and Rehearing En Banc Denied March 1, 1983.

REAVLEY, Circuit Judge:

The receiver ("Receiver") of Empire Life Insurance Company of America ("Empire") brought this action against Empire's president, board chairman and majority shareholder, Shearn Moody, Jr. ("Moody"), alleging that Moody violated both federal securities law and his fiduciary duties in the management of Empire's affairs. The jury verdict and district court judgment,

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