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BELL v. ASCENDANT SOLUTIONS, INC.

No. 04-11078.

422 F.3d 307 (2005)

Richard BELL, on Behalf of Himself and All Others Similarly Situated; et al., Plaintiffs, Plutarch, Ltd., Mario Sonzone, Plaintiffs-Appellants, v. ASCENDANT SOLUTIONS, INC.; Norman Charney; Paul Jennings; CCLP, Ltd.; Paul G. Sherer; Alan E. Salzman, Defendants-Appellees. Dennis Hoffman, Individually and on Behalf of Himself and All Others Similarly Situated; et al., Plaintiffs, Plutarch, Ltd., Plaintiff-Appellant, v. Ascendant Solutions, Inc.; Norman Charney; Paul Jennings, Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

August 23, 2005.

Attorney(s) appearing for the Case

James Stuart Notis (argued), Abbey Gardy, New York City, Roger F. Claxton, Robert James Hill, Claxton & Hill, Dallas, TX, for Plaintiffs-Appellants.

Paul R. Bessette (argued), Michael John Biles, Jennifer R. Brannen, Michelle A. Reed, Akin, Gump, Strauss, Hauer & Feld, Austin, TX, for Defendants-Appellees.

Before GARWOOD, SMITH and CLEMENT, Circuit Judges.

JERRY E. SMITH, Circuit Judge:

Mario Sonzone and Plutarch, Ltd., an individual investor and a closely-held Liberian corporation, appeal the denial of class certification in a securities fraud suit against Ascendant Solutions, Inc. ("Ascendant"), some of its former executives and directors, and a related entity. Concluding that the district court did not abuse its discretion, we affirm and remand.

I.

Ascendant, a Dallas-based firm founded in 1995...

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