AHDERS v. SEI PRIVATE TRUST CO.

No. 20-30186.

982 F.3d 312 (2020)

Robert C. AHDERS, Individual Domiciled in California, Plaintiff-Appellant, v. SEI PRIVATE TRUST COMPANY, Pennsylvania Corporation; SEI Investments Company, Pennsylvania Corporation; Continental Casualty Company, Illinois Corporation; Certain Underwriters at Lloyd's of London, Unincorporated Association Domiciled in the United Kingdom; Indian Harbor Insurance Company, Delaware Corporation; Nutmeg Insurance Company, Connecticut Corporation; Allied World Assurance Company (U.S.), Incorporated, Delaware Corporation; Arch Insurance Group, Missouri Corporation, Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

FILED December 3, 2020.


Attorney(s) appearing for the Case

Michael John Stanley , Stanley Law, P.C., Houston, TX, for Plaintiff-Appellant.

J. Gordon Cooney, Jr., Esq. , Managing Senior Counsel, Ryan P. McCarthy, Esq. , Morgan, Lewis & Bockius, L.L.P., Philadelphia, PA, Michael E. Kenneally , Morgan, Lewis & Bockius, L.L.P., Washington, DC, William R. Peterson , Morgan, Lewis & Bockius, L.L.P., Houston, TX, Michael H. Rubin, Esq. , McGlinchey Stafford, P.L.L.C., Baton Rouge, LA, far Defendants-Appellees SEI Private Trust Company, SEI Investments Company, Pennsylvania Corporation.

David Howard Timmins , Husch Blackwell, L.L.P., Dallas, TX, James L. Pate, Esq. , Robert Edwin Torian, Esq. , Neuner-Pate, Lafayette, LA, for Defendant-Appellee Continental Casualty Company, Illinois Corporation.

Stefan Roane Dandelles , Brendan McGarry , Kaufman Dolowich Voluck, L.L.P., Chicago, IL, George Davidson Fagan , Leake & Andersson, L.L.P., New Orleans, LA, for Defendant-Appellee Certain Underwriters at Lloyd's of London, Unincorporated Association domiciled in the United Kingdom.

Pamela Signorello , Special Counsel, Wiley Rein, L.L.P., Washington, DC, for Defendant-Appellee Indian Harbor Insurance Company, Delaware Corporation.

Seth Andrew Schmeeckle, Esq. , Lugenbuhl, Wheaton, Peck, Rankin & Hubbard, New Orleans, LA, for Defendant-Appellee Nutmeg Insurance Company, Connecticut Corporation.

Judy Y. Barrasso , Michael Anthony Balascio , Barrasso, Usdin, Kupperman, Freeman & Sarver, L.L.C., New Orleans, LA, for Defendant-Appellee Allied World Assurance Company (U.S.), Incorporated, Delaware Corporation.

Alex P. Tilling, Esq. , Leake & Andersson, L.L.P., New Orleans, LA, for Defendant-Appellee Arch Insurance Group, Missouri Corporation.

Before Owen, Chief Judge, and King and Engelhardt, Circuit Judges.


Plaintiffs brought this action against SEI Private Trust Company and SEI Investments Company (collectively, SEI), and SEI's insurers, seeking to hold SEI liable under the control-person provision of Louisiana Securities Law. The district court granted summary judgment to SEI and its insurers, concluding that SEI was not a control...

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