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MEADAA v. KARSAN

No. 15-30413.

822 F.3d 202 (2016)

Reymond MEADAA; Harry Hawthorne; Jose Mathew; Dinesh Shaw; Navtej Rangi; Naja Holdings, L.L.C.; Hulenci, L.L.C., Plaintiffs-Appellees, v. Arun K. KARSAN; Versha Patel Karsan, Defendants-Appellants.

United States Court of Appeals, Fifth Circuit.

May 18, 2016.

Attorney(s) appearing for the Case

Matthew Kepner Brown (argued), Isabel C. Bonilla-Mathe, Esq. , Sullivan Stolier Knight, L.C., Nancy Scott Degan, Esq. , Matthew Aaron Woolf, Esq. , Baker, Donelson, Bearman, Caldwell & Berkowitz, P.C., New Orleans, LA, for Plaintiffs-Appellees.

Loretta Gallaher Mince, Esq. , Lance Christian McCardle, Esq. (argued), Fishman Haygood, L.L.P., New Orleans, LA, for Defendants-Appellants.

Before DAVIS, SMITH, and HIGGINSON, Circuit Judges.

In this case, we review the district court's summary judgment on a number of alternate theories in favor of plaintiff investors who purchased securities from defendants. We focus on one of plaintiffs' theories under Louisiana Revised Statutes §§ 51:712(A)(2) and 51:714, which allows purchasers of securities...

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