Scottrade Seeks To Reopen Modern Energy Suit

Law360, New York (July 23, 2009, 7:54 PM EDT) -- Online stock brokerage Scottrade Inc. wants to reopen a case against Modern Energy Corp. and its stock transfer agent, First Public Securities Transfer Corp., alleging that they are in violation of a 2008 permanent injunction that stopped a forced buy-in of 990,000 shares of Modern Energy.

In a motion to reopen the case filed Wednesday in the U.S. District Court for the Eastern District of Missouri, Scottrade said that it had recently been drawn into a Financial Industry Regulatory Authority arbitration process, which the online securities...
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