McNAMARA v. BRE-X MINERALS LTD.

No. 5:97-CV-159.

197 F.Supp.2d 622 (2001)

Lane MCNAMARA, et al., Plaintiffs, v. BRE-X MINERALS LTD., Bresea Resources, Ltd., John B. Felderhof, Estate of David G. Walsh, T. Stephen McAnulty, John B. Thorpe, Rolando C. Francisco, Hugh C. Lyons, Paul M. Kavanaugh, J.P. Morgan Securities, Inc., P.T. Kilborn Pakar Rekayasa, Kilborn Engineering Pacific, Ltd., SNC-Lavalin, Inc., Nesbit Burns, Inc., Lehman Brothers, Inc., Barrick Gold Corporation, Defendants.

United States District Court, E.D. Texas, Texarkana Division.

March 30, 2001.


Attorney(s) appearing for the Case

H. Lee Godfrey, Susman Godfrey LLP, Houston, TX, Damon Young, Young Pickett & Lee, Texarkana, TX, A. Paul Miller, Miller James Miller Wyly & Hornsby, Texarkana, TX, R. Paul Yetter, Yetter & Warden, James T. Southwick, Houston, TX, Steven J. Toll, Cohen, Milstein, Housfeld & Toll, Washington, DC, Michael C. Spencer, Hynes & Lerach LLP, New York City, Thomas Robert Ajamie, Schirrmeister Ajamie, Houston, TX, U. Seth Ottensoser, Milberg Weiss Bershad Hynes & Lerach LLP, New York City, Adam R. Gonnelli, Jeffrey G. Smith, Peter W. Smith, Wolfe Haldenstein Adler Freeman & Herz LLP, New York City, Robert C. Schubert, Schubert & Reed LLP, San Francisco, CA, Murray Lewis, Matthew J. Ide, Cohen Milstein Hausfeld & Toll, Seattle, WA, Curt P. Beck, James S. Notis, Abbey Gardy LLP, New York City, Guy A. Wilson, Worhtington & Worthington, Santa Rosa, CA, Charles Robert Eskridge, III, Susman Godfrey LLP, Houston, TX, Edward Miller, Keeney Anderson Miller James & Miller, Texarkana, TX, for Plaintiffs.

John Anderson Gilliam, T. Richard Handler, Jenkens & Gilchrist, Dallas, TX, Andrius R. Kontrimas, Jenkens & Gilchrist, Houston, TX, John Robert Mercy, Mercy Carter & Elliot, Texarkana, TX, Karen Patton Seymour, Tiffany M. Erwin, D. Stuart Meiklejohn, Sharon Nelles, Sullivan & Cromwell, New York City, Preston Worley McGee, Flowers Davis LLP, Tyler, TX, Gary D. Grimes, David Gibson Paul, Grimes & Craytor, Texarkana, TX, Johnny Paul Arnold, Texarkana, TX, David E. McCraw, Clifford Chance Rogers & Wells, New York City, David J. Beck, Beck Redden & Secrest LLP, Houston, TX, Paul E. Summit, Sullivan & Worcester, Boston, MA, Andrew T. Solomon, Sullivan & Worcester, New York City, Winford L. Dunn, Jr., Dunn Nutter Morgan & Shaw, Texarkana, AR, L. Nicole Batey, Eric J.R. Nichols, Beck Redden & Secrest LLP, Houston, TX, John Hess McElhaney, Locke Liddell & Sapp, Dallas, TX, John David Crisp, Crisp Boyd Poff, Texarkana, TX, Mark Douglas Wegener, Martin Cunniff, Howrey Simon Arnold & White LLP, Washington, DC, William S. Hommel, Jr., McGee Hommel & Starr PC, Tyler, TX, Zack A. Clement, Linda L. Addison, William J. Boyce, Fulbright & Jaworski, Houston, TX, Preston Worley McGee, McGee Hommel & Starr PC, Tyler, TX, Nicholas H. Patton, Patton Tidwell Sandefur, Texarkana, TX, Robert M. Buschmann, Gerald D. Silver, Winston & Strawn, New York City, Daniel R. Murdock, Winston & Strawn, New York City, Philip Smith, Winston & Strawn, New York City, David Massengill, Simpson, Thacher & Bartlett, New York City, J. Hoke Peacock, II, Orgain Bell & Tucker, Beaumont, TX, Bruce Domenick Angiolillo, Simon A. Steel, Michael A. Berg, Simpson Thacher & Bartlett, New York City, James N. Haltom, Patton Haltom Roberts, McWilliams & Geer LLP, Texarkansas, TX, Eric F. Grossman, Lewis B. Kaden, Lawrence J. Portnoy, Abraham Gesser, Daniel E. Wenner, Helen Harris, Davis Polk & Wardwell, New York City, for Defendants.

Aundrea Kristine/Fiede Gulley, Gibbs & Bruns, Houston, TX, for Movant.


MEMORANDUM OPINION AND ORDER

FOLSOM, District Judge.

                       TABLE OF CONTENTS

   I. INTRODUCTION ............................................................ 629

  II. RELEVANT LAW ............................................................ 630

      A. 10b-5 Claims ......................................................... 630

      B. Pleading...

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