Paracor Finance, Inc. v. General Electric Capital Corp.

O’SCANNLAIN, Circuit Judge:

In reviewing this saga of a debenture offering turned sour, we must decide whether any of the supporting cast on the offeror’s side have violated the securities laws. In particular, we must determine whether the lender in a financial transaction should be considered a “controlling person” of its borrower.

I

We begin with the facts that led up to the debenture offering at issue here as an appeal from a “Final Partial Judgment” under Federal Rule of Civil Procedure 54(b) which recapped a series of prior orders of the district court granting summary judgments. Jordan…