Court Opinion

ID: 9461041
Source: CourtListenerOpinion
Date Created: 2023-08-04 22:04:30.339251+00
Date Added: 2024-06-11T17:36:51.989979
License: Public Domain

On Petition for Rehearing
This matter is before the court on the petition of the defendant-appellee, Andrew Lamb, only, for rehearing.
Upon consideration thereof, we agree with Lamb that he was not associated with the corporation at the time of the plaintiffs’ stock purchases. However’ as stated in the opinion, “we cannot say, given the present exposition of counts II and III that it appears beyond doubt that the plaintiff can prove no facts sufficient to support a claim for relief under Rule 10b-5.” The allegations of these counts encompass a period of time when Lamb apparently was associated with the alleged activities. Whether he was an aider or abettor of or otherwise facilitated a i.Ob-5 fraud may, as he contends, not be demonstrable on further amendment of the complaint. We merely held that the'plaintiffs on remand ax’e not foreclosed from supplementing the allegations relative to Lamb as well as to the other defendants.
Accordingly, the petition for rehearing is denied.