LONE STAR FUND V (U.S.), L.P. v. BARCLAYS BANK PLC

No. 08-11038.

594 F.3d 383 (2010)

LONE STAR FUND V (U.S.), L.P.; LSF5 Bond Holdings LLC, Plaintiffs-Appellants, v. BARCLAYS BANK PLC; Barclays Capital, Inc., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

January 11, 2010.


Attorney(s) appearing for the Case

David E. Keltner (argued), Marianne Marsh Auld (argued), Kelly, Hart & Hallman, L.L.P., Fort Worth, TX, for Plaintiffs-Appellants.

Mark Tad Josephs, William Ross Forbes, Jr., Jackson Walker, L.L.P., Dallas, TX, Kathleya Chotiros, Evan A. Davis (argued), Rachel Anne Goldbrenner, Mitchell A. Lowenthal, Cleary, Gottlieb, Steen & Hamilton, New York City, for Defendant-Appellee.

Before JONES, Chief Judge, and GARZA and STEWART, Circuit Judges.


EDITH H. JONES, Chief Judge:

Lone Star Fund V (U.S.), L.P. and LSF5 Bond Holdings, LLC (collectively "Lone Star" or "Appellants") allege that Barclays Bank PLC and Barclays Capital, Inc. (collectively "Barclays" or "Appellees") engaged in a $60 million fraud relating to mortgage-backed securities that Barclays sold to Lone Star. The district court dismissed the case for failure to state a claim. Because Lone Star fails to allege a misrepresentation in light of the...

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