Magnolia Venture Capital Corporation v. Prudential Securities, Inc., Mississippi Department of Economic and Community Development
Court of Appeals for the Fifth Circuit
1Opinion of the Court
W. EUGENE DAVIS, Circuit Judge:
In this appeal we are asked to consider whether the Eleventh Anendment bars this suit. The district court ruled that the Mississippi Department of Economic and Community Development (“MDECD”) had waived its Eleventh Amendment immunity, and therefore denied MDECD’s Motion to Dismiss. For reasons set forth below, we reverse and remand this case to the district court.
I
In 1994, the Mississippi Legislature enacted the Venture Capital Act of 1994 (“the Act”), codified at Miss.Code Ann. §§ 57-77-1 to 57-77-39. The legislature passed the Act to provide capital to new…
2Cases cited20 opinions
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- Port Authority Trans-Hudson Corp. v. FeeneySupreme Court of the United States · 1990
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