United States Eleventh Circuit

In case involving stock-for-stock merger and acquisition, summary judgment for defendants is affirmed as the Section 11 presumption of reliance under the Securities Act of 1933 does not apply in the limited and narrow situation where sophisticated investors participating in an arms-length corporate merger make a legally binding investment commitment months before the filing of a defective registration statement.

Appellate Information

• Decided 02/02/2007
• Published 02/02/2007

Judges

• VINSON, District Judge:, Before ANDERSON and DUBINA, Circuit Judges, and VINSON, District Judge.

Court

• United States Eleventh Circuit

Counsel

• For Appellant:
  
• John L. Taylor, Jr., Chorey, Taylor & Feil, Atlanta, GA, Lee A. Weiss, Milberg, Weiss, Bershad & Schulman, New York City, Arthur R. Miller, Harvard Law School, Cambridge, MA, for Plaintiffs-Appellants.


• For Appellees:
  
• Ambreen A. Delawalla, Todd R. David, John A. Jordak, Jr., John L. Latham, Jessica Perry Corley, Alston & Bird, LLP, Atlanta, GA, for Defendants-Appellees.