Foley v. Transocean Ltd. et al
| Donald P. Foley and Johnson Investment Counsel, Inc. |
| Transocean Ltd., Steven L. Newman and Robert L. Long |
| 1:2010cv05233 |
| July 9, 2010 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| XX Out of State |
| Unassigned |
| Securities/Commodities/Exchanges |
| 15 U.S.C. ยง 78 |
| Plaintiff |
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Filing
76
MEMORANDUM AND ORDER granting 58 Motion to Dismiss. We hold that Lead Plaintiff has failed to state a claim of securities fraud against Transocean and its current and former CEOs. We once again caution that this holding has no bearing on whether T ransocean has substantive liability for the Macondo accident. Despite Lead Plaintiffs attempts to conflate the two issues, they are wholly separate. For the reasons stated above, defendants motion to dismiss is granted. (Signed by Judge Naomi Reice Buchwald on 3/20/2012) Copies Mailed by Chambers. (mro)
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