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FLAHERTY & CRUMRINE PREFERRED INCOME FUND, INC. v. TXU

No. 08-10414.

565 F.3d 200 (2009)

FLAHERTY & CRUMRINE PREFERRED INCOME FUND, INCORPORATED; Flaherty & Crumrine Preferred Income Opportunity Fund, Incorporated; Flaherty & Crumrine/Claymore Preferred Securities Income Fund, Incorporated; Stan Haiduk, Plaintiffs-Appellants, v. TXU CORP.; C. John Wilder, Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

April 8, 2009.

Attorney(s) appearing for the Case

David Wilson Dodge, Dodge Legal Group, PC, Dallas, TX, Samuel Issacharoff (argued), New York University, School of Law, New York City, Francis J. Balint, Jr., Bonnett, Fairbourn, Friedman & Balint, Phoenix, AZ, for Plaintiffs-Appellants.

Gerard G. Pecht (argued), Fulbright & Jaworski LLP, Houston, TX, Richard S. Krumholz, Fulbright & Jaworski LLP, Dallas, TX, Peter Andrew Stokes, Fulbright & Jaworski LLP, Austin, TX, for Defendants-Appellees.

Before KING, BENAVIDES and CLEMENT, Circuit Judges.

BENAVIDES, Circuit Judge:

Appellants, Flaherty & Crumrine Preferred Income Fund, Inc.; Flaherty & Crumrine Preferred Income Opportunity Fund, Inc.; Flaherty & Crumrine/Claymore Preferred Securities Income Fund, Inc. (collectively, "F&C"); and Stan Haiduk ("Haiduk"), filed a securities fraud class action and individual fraud claims against Appellees TXU Corporation ("TXU") and its former CEO John Wilder ("Wilder") for allegedly making material misrepresentations...

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