Ex-EnerMax CEO Urges 5th Circ. To Uphold Investor Suit Toss

Law360, New York (August 30, 2013, 2:29 PM EDT) -- The former CEO of defunct oil and energy exploration company EnerMax urged the Fifth Circuit on Thursday to uphold a lower court's decision that tossed a lawsuit alleging he participated in a joint venture scheme that bilked millions from foreign investors, calling the allegations frivolous.

A Texas federal court dismissed the case in March, saying the investors failed to show that former CEO Steve Rackley and other defendants who were named in the alleged scheme ever had contact with the investors or organized the allegedly fraudulent...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.