United States Fifth Circuit

In a securities fraud action based on a subprime wireless subscriber program, the dismissal of the complaint is affirmed in part, where the complaint failed to plead loss causation as to transfer of the program's core functions, but reversed in part, where the complaint adequately pled loss causation as to subscriber growth.

Appellate Information

• Decided 04/09/2009
• Published 04/09/2009

Judges

• DENNIS, Circuit Judge:, Before BARKSDALE, DENNIS and SOUTHWICK, Circuit Judges.

Court

• United States Fifth Circuit

Counsel

• For Appellant:
  
• Sanford Svetcov (argued), Coughlin, Stoia, Geller, Rudman & Robbins, L.L.P., San Francisco, CA, Douglas Wilens, Coughlin, Stoia, Geller Rudman & Robbins, L.L.P., Boca Raton, FL, for Lormand., James Richard Swanson, Lance Christian McCardle LorettaGallaher Mince, Fishman, Haygood, Phelps, Walmsley, Willis & Swanson, New Orleans, LA, for US Unwired, Inc., Henning, Piper and Vaughn., N. Scott Fletcher, Michael C. Holmes (argued), Vinson & Elkins, Houston, TX, William Raley Alford, III, Stanley, Flanagan & Reuter, Thomas More Flanagan, Flanagan Partners, LLP, New Orleans, LA, for Henning, Piper and Vaughn.