Sonnier
Schaffer Family Investors, LLC v. Sonnier
Opinion
Lead Opinion
Wilson, J.
ORDER GRANTING IN ■ PART AND DENYING IN PART DEFENDANT LEE SONNIER’S MOTION TO DISMISS SECOND AMENDED COMPLAINT [67]
I. INTRODUCTION
This case arises from Plaintiffs’ investments in oil, gas, and mineral royalty and leasehold interests (“OGM Royalty Interests”) — allegedly made with and through Defendants. Plaintiffs assert that Defendants’ slick talking induced Plaintiffs to pump money into purportedly misrepresented investment opportunities.
■ On May 9, 2013, Plaintiffs filed suit in this Court. On November 26, 2014, the Court dismissed without prejudice Plaintiffs’ federal securities claims because Plaintiffs failed to plead the existence of a security. (Dkt. 61: Order at 8-10.) The Court also stayed Plaintiffs’ state law claims pending resolution of the viability of their federal claims, which were the sole basis for this Court’s jurisdiction. (Id. at 10-11.)
On December 24, 2014, Plaintiffs filed their Second Amended Complaint (“SAC”). 1 (Dkt. 62.) The SAC asserts claims against Sonnier for: (1) selling unregistered securities, ■ 15 U.S.C. § 77e(a), 771(a); (2) federal securities fraud, 15 U.S.C. § 78j and 17 C.F.R. § 240 .10b-5 (“Rule 10b-5”); (3) selling unregistered…