Supreme Court of Texas

Under the Texas Securities Act's requirement of "reckless disregard for the truth or the law," aider liability can only be imposed if the aider is subjectively aware of the primary violator's improper activity.

Appellate Information

• Decided 06/17/2005
• Published 06/17/2005

Judges

• Justice O'NEILL delivered the opinion of the Court.

Court

• Supreme Court of Texas

Counsel

• For Appellant:
  
• Donald E. Herrmann, Dee J. Kelly, Todd W. Spake, John Thomas Wilson IV, Kelly Hart & Hallman, P.C., Fort Worth, Robert B. Gilbreath, V. Elizabeth Kellow, Alan R. Bromberg, Jenkens & Gilchrist, P.C., Dallas, Sharon E. Callaway, Crofts & Callaway, P.C., San Antonio, for Petitioner., Karen Sue Neeley, Joseph R. Knight, Baker & Botts, L.L.P., Austin, Philip John Kuhl Jr., Sanford & Kuhl, N. Scott Fletcher, Houston, Royal B. Lea III, Bingham & Lea, P.C., San Antonio, for Amici Curiae.


• For Appellees:
  
• Rickey J. Brantley, David E. Keltner, Jose Henry Brantley & Keltner, L.L.P., Thomas G. Farrier, Murphy Mahon Keffler & Farrier, L.L.P., Fort Worth, James Dan Moorhead, Law Office of James Dan Moorhead, Arlington, for Respondents.