United States Eleventh Circuit
Fin. Sec. Assurance, Inc. v. Stephens, Inc., 04-14894
In suit alleging federal securities fraud and state law claims for fraud and negligent misrepresentation, orders dismissing plaintiff's Rule 10b-5 claim and granting summary judgment for defendants on claims for common law fraud and negligent misrepresentation are affirmed as an insurer of municipal bonds that becomes the owner of those bonds upon default does not have standing under section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5.
Appellate Information
- Decided 09/18/2007
- Published 09/18/2007
Judges
- PER CURIAM:, Before TJOFLAT and KRAVITCH, Circuit Judges, and LAWSON, District Judge.
Court
- United States Eleventh Circuit
Counsel
- For Appellant:
- Julie Ann Lierly, William H. Boice, Stephen E. Hudson, Kilpatrick Stockton, LLP, Atlanta, GA, Peter N. Wang, Friedman, Wang & Bleiberg, P.C., New York City, Kimberly J. Shur, Foley & Lardner, LLP, Washington, DC, for Plaintiff-Appellant., H. Peter Haveles, Jr., Arnold & Porter, LLP, John M. Vassos, John D. Gordan, III, Jeffrey D. Brooks, Morgan, Lewis & Bockius, LLP, New York City, for Amici Curiae.
- For Appellees:
- Stacey Godfrey Evans, Thomas S. Richey, Powell Goldstein, LLP, Patrick Michael Phillips, John W. Greenfield, Greenfield, Bost & Kliros, P.C., Atlanta, GA, for Defendants-Appellees.