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5th Circ. Revives MD’s Securities Suit Against Ex-Biz Partner

Law360 (May 16, 2019, 7:55 PM EDT) -- The Fifth Circuit has revived a Texas neurosurgeon's attempt to go after his former financial partner for allegedly violating federal securities law by promising their business venture would net $190 million when it only turned up $11 million, saying a lower court overlooked a threshold issue about whether a security even existed.

David Masel can pursue his securities fraud claims against Adriana Villarreal for allegedly making false promises about a “secret sauce” algorithm for billing intraoperative neuromonitoring procedures that would rake in loads of cash for out-of-network claims, a three-member panel ruled Wednesday in a published opinion. Intraoperative monitoring refers to...

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Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Appellate - 5th Circuit

Nature of Suit

3850 Securities, Commodities, Exchange

Date Filed

May 21, 2018

Law Firms

Government Agencies