Motient Corp. v. Dondero, 07-10302
In a suit for damages and injunctive relief under the Securities Exchange Act (SEA), denial of money damages is affirmed in part and the case remanded in order to dismiss the claims for injunctive relief without prejudice where: 1) section 13(d) of the SEA does not give issuers of securities a private cause of action; and 2) injunctive relief would be inappropriate based on defendant's having divested itself of its holdings in plaintiff.
- Decided 05/27/2008
- Published 05/27/2008
- CLARK, District Judge:, Before DAVIS and SOUTHWICK, Circuit Judges, and CLARK, District Judge.
- United States Fifth Circuit
- For Appellant:
- T. Ray Guy, Paige Holden Montgomery, Weil, Gotshal & Manges, Dallas, TX, Richard William Slack (argued), Weil, Gotshal & Manges, New York City, for Motient Corp., Jay Joseph Madrid, Kristen Lee Sherwin, Stephanie Sansing White, Winstead, PC, Gary D. Eisenstat, Figari & Davenport, Dallas, TX, Craig T. Enoch (argued), Winstead, PC, Austin, TX, for Dondero.
- For Appellees:
- Paul Brian Lackey, Michael Philip Aigen, Lackey Hershman, Dallas, TX, Darryl Wade Anderson, Fulbright & Jaworski, Houston, TX, for all other Defendants-Appellees.