United States Fifth Circuit

In an action against the individual owner of a corporation seeking to pierce the corporate veil based on common law fraud and fraudulent inducement, dismissal of the complaint is affirmed where: 1) plaintiff did not plead that defendant presented any detailed, corroborating information, facts or figures to support the company's financial statement that might entice a reasonable person to attach importance to the statement; and 2) piercing the corporate veil was not a separate cause of action, but a method to impose personal liability on shareholders and corporate officers who would otherwise be shielded from liability for corporate debts.

Appellate Information

• Decided 05/28/2010
• Published 05/28/2010

Judges

• PER CURIAM:, Before JONES, Chief Judge, and SMITH and ELROD, Circuit Judges.

Court

• United States Fifth Circuit

Counsel