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FINANCIAL ACQUISITION PARTNERS LP v. BLACKWELL

No. 04-11300.

440 F.3d 278 (2006)

FINANCIAL ACQUISITION PARTNERS LP, on behalf of themselves and all others similarly situated; John D. May, on behalf of themselves and all others similarly situated, Plaintiffs-Appellants, v. L. Keith BLACKWELL; Jonathan S. Pettee; Randolph E. Brown; Ron B. Kirkland; Deloitte & Touche LLP, a Delaware Limited Liability Partnership, Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

February 14, 2006.

Attorney(s) appearing for the Case

William B. Federman, Stuart William Emmons (argued), Federman & Sherwood, Oklahoma City, OK, for Plaintiffs-Appellants.

Stacy R. Obenhaus, William G. Whitehill (argued), Randy D. Gordon, Gardere Wynne Sewell, Dallas, TX, for L. Keith Blackwell, Randolph E. Brown and Ron B. Kirkland.

Craig Louis Weinstock, Christopher Benjamin Dove (argued), Locke, Liddell & Sapp, Houston, TX, for Jonathan S. Pettee.

Karen Lee Hirschman, Vinson & Elkins, Dallas, TX, Marie Roach Yeates (argued), Vinson & Elkins, Houston, TX, for Deloitte & Touche, LLP.

Before JOLLY, BEAM and BARKSDALE, Circuit Judges.

RHESA HAWKINS BARKSDALE, Circuit Judge:

In this putative class action for securities fraud, Financial Acquisition Partners and John D. May (Plaintiffs) appeal the Federal Rule of Civil Procedure 12(b)(6) dismissal of their second amended complaint pursuant to the Private Securities Litigation Reform Act (PSLRA), 15 U.S.C. § 78u-4. Plaintiffs' claims arise from their purchase of shares, and the bankruptcy shortly thereafter...

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