Potier et al v. J B S Liberty Securities Inc et al
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|Date Filed||#||Document Text|
|July 30, 2015
MEMORANDUM RULING: Pending before this Court is the 98 MOTION for New Trial and Alternative Motion to Amend or Alter Judgment filed by plaintiffs Joseph Clyde Potier and Glenda Potier. Rather vaguely, the plaintiffs "submit relating to the C ourt's Ruling dismissing Plaintiff's claims against American General Securities Inc as time barred, with prejudice. Alternatively, Plaintiffs move for an order altering or amending the dismissal with prejudice to reflect a dismissal withou t prejudice because all of Plaintiffs' claims can be pled timely with amendment." The motion is opposed by AGSI. Considering the foregoing, IT IS ORDERED that plaintiffs' 98 Motion for New Trial and Alternative Motion to Amend or Alter Judgment is DENIED. Signed by Judge Rebecca F Doherty on 7/30/2015. (crt,Putch, A)
|May 7, 2015
MEMORANDUM RULING: Pending before the Court, 90 Motion for Summary Judgment Pursuant to Rule 56 filed by J B S Liberty Securities Inc d/b/a J B S Investment Group L L C and is opposed by plaintiffs, Joseph Clyde and Glenda Potier [Doc 9 4]. J B S has filed 95 Motion for Leave to File Reply Memorandum, which is herein GRANTED. For the foregoing reasons, the 90 Motion for Summary Judgment is GRANTED IN PART and DENIED IN PART, as discussed herein. IT IS ORDERED that, to the extent the plaintiffs' claims against J B S arise under state law, such claims are time-barred under the provisions of La Rev State §9:5606(A), and all such claims are DENIED AND DISMISSED WITH PREJUDICE as perempted. However, to the e xtent the plaintiffs are alleging "churning" claims in violation of federal securities laws, and in particular, plaintiffs' claims under the Securities Acts of 1933 and 1934 and 15 USC §7t(a), such claims do no appear to be prescribed, J B S having failed to meet its burden to show it is entitled to a dismissal of plaintiffs' claims under these federal provisions at this time. Signed by Judge Rebecca F Doherty on 5/7/2015. (crt,Putch, A)
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