Legal Opinion
Prime Mover Capital Partners L.P. v. Elixir Gaming Technologies, Inc.
District Court, S.D. New York
Decided June 22, 2011No. 10 Civ. 2737(LAK)PublishedCited by 19 opinions
1Opinion of the Court
MEMORANDUM OPINION
LEWIS A. KAPLAN, District Judge.
This is an action by several U.S. hedge funds for damages under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) 1 and Rule 10b-5 thereunder, 2 , 3 as well as on common law theories, for damages in connection with their purchases of shares in Elixir Gaming Technologies, Inc. (“EGT”). Plaintiffs claim that the defendants intentionally made misrepresentations that inflated EGT’s share price, that the plaintiffs purchased shares of EGT at that inflated price, and that they were injured when the truth became…
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3Cited by19 opinions
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