Nathenson v. Zonagen Inc. , 100 F. App'x 987 ( 2004 )


Menu:
  •                                                     United States Court of Appeals
    Fifth Circuit
    F I L E D
    UNITED STATES COURT OF APPEALS
    For the Fifth Circuit                 June 16, 2004
    Charles R. Fulbruge III
    Clerk
    No. 03-20655
    JAMES M. NATHENSON, etc.; ET AL.,
    Plaintiffs,
    JAMES M. NATHENSON, on behalf of himself and all others
    similarly situated; AMIT SANGHVI; ROBERT STRASSMAN; ARNO HAUSMANN,
    Plaintiffs-Appellants,
    VERSUS
    ZONAGEN INC.; JOSEPH PODOLSKI; STEVEN BLASNIK; MARTIN P. SUTTER,
    Defendants-Appellees,
    ______________________________________
    AMIT SANGHVI, on behalf of himself and all others
    similarly situated,
    Plaintiff-Appellant,
    VERSUS
    ZONAGEN INC.; JOSEPH PODOLSKI; STEVEN BLASNIK; MARTIN P. SUTTER,
    Defendants-Appellees.
    Appeal from the United States District Court
    For the Southern District of Texas
    H-98-CV-1010
    Before JOLLY, DAVIS and JONES, Circuit Judges.
    PER CURIAM:*
    After reviewing the record in this case and considering the
    briefs and argument of the parties, we are satisfied that the
    district   court    did   not    abuse   its    discretion      in    denying   the
    plaintiffs’ motion for leave to amend.
    On the merits, the question of reliance in plaintiffs’ fraud-
    on-the-market      case   is    controlled     by   Greenberg    v.    Crossroads
    Systems, Inc., 
    364 F.3d 657
    (5th Cir. 2004).             Under the reasoning
    of that case, we agree with the district court that the defendants
    successfully rebutted the presumption that the plaintiffs purchased
    the Zonagen stock in reliance on defendants’ false statements. For
    these reasons and the reasons stated by the             district court in its
    careful opinion of June 13, 2003, the district court’s judgment is
    AFFIRMED.
    *
    Pursuant to 5TH CIR. R. 47.5, the Court has determined that this
    opinion should not be published and is not precedent except under
    the limited circumstances set forth in 5TH CIR. R. 47.5.4.
    2
    

Document Info

Docket Number: 03-20655

Citation Numbers: 100 F. App'x 987

Judges: Jolly, Davis, Jones

Filed Date: 6/16/2004

Precedential Status: Non-Precedential

Modified Date: 10/19/2024