Reymond Meadaa v. K A P Enterprises, L.L.C.

W. EUGENE DAVIS, Circuit Judge:

In this case, we review the district court’s summary judgment on a number of alternate theories in favor of plaintiff investors who purchased securities from defendants. We focus on one of plaintiffs’ theories under Louisiana Revised Statutes §§ 51:712(A)(2) and 51:714, which allows purchasers of securities to recover their investment from the seller of the securities, who made the sale based on false representations. Plaintiffs contend that the defendants sold securities representing shares in SaiNaith L.L.C. based on false statements that a hotel was owned by…