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MARGOLIES v. DEASON

No. 05-10928.

464 F.3d 547 (2006)

Michael MARGOLIES; Elaine Margolies, as Trustee on Behalf of the Margolies Family Trust, Plaintiffs-Counter Defendants-Appellants, v. Darwin DEASON; Douglas R. Deason; David L. Neely, Defendants-Counter Claimants-Appellees.

United States Court of Appeals, Fifth Circuit.

September 11, 2006.

Attorney(s) appearing for the Case

Susan C. Stanley, Shustak, Jalil & Heller, James P. Jalil, Thompson Hine, New York City, Theodore J. Riney, Geary, Porter & Donovan, Addison, TX, David Alexander Browde, Law Offices of David A. Browde, Chappaqua, NY, for Michael and Elaine Margolies.

David Henry Pace, Hal S. Sumner, Sumner, Schick & Hamilton, Dallas, TX, for Darwin and Douglas Deason.

Stephen G. Wilcox, Law, Snakard & Gambill, Fort Worth, TX, for Neely.

Before HIGGINBOTHAM, DENNIS and CLEMENT, Circuit Judges.

EDITH BROWN CLEMENT, Circuit Judge:

Michael Margolies and the Margolies Family Trust (collectively "Margolies") appeal the district court's dismissal of all claims as time-barred, arguing that an extension to the statute of repose in the Sarbanes-Oxley Act of 2002 ("SOA") applies to the federal claims and that the district court erred in finding that Margolies was on inquiry notice of the alleged fraud in 1998. We affirm in part and reverse in part, and remand the...

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