Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

Union Pacific Resources Group, Inc. v. Rhone-Poulenc, Inc.

District Court's grant of summary judgment for appellee on conversion, negligent misrepresentation and securities fraud claims affirmed; however, dismissal of appellant's fraud claim reversed -- appellant provided sufficient evidence that appellee had duty to make full disclosure to appellant and failed to do so; when appellee elected to make partial disclosures about stock sale over and above the required disclosures under partnership agreement, appellee assumed the duty of full disclosure.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Appeal from the United States District Court for the Northern District of Texas

Union Pacific Resources Group, Inc. (“UPRG”) and its wholly owned subsidiary, Big Island Trona Co. (“Big Island”),*fn1 brought this diversity action against Rh�ne-Poulenc, Inc. (“RPI”), asserting claims of conversion, securities fraud, negligent misrepresentation, and fraud. The district court granted summary judgment for RPI, dismissing all claims, and UPRG timely appealed. We conclude that summary judgment was properly granted on the conversion, negligent misrepresentation, and securities fraud claims and affirm for essentially the reasons assigned in the district court’s well-reasoned opinion.*fn2 Concluding that UPRG has presented sufficient evidence to defeat RPI’s summary judgment motion on the fraud claim, however, we reverse the district court’s dismissal of that claim and remand for proceedings consistent with this opinion.

I. Facts and Proceedings

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
GlobeSt. Healthcare Real Estate 2024
December 02, 2024 - December 03, 2024
Scottsdale, AZ

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year!


Learn More
ThinkAdvisor LUMINARIES Awards 2024
December 11, 2024
Las Vegas, NV

This event shines a spotlight on how individuals and firms are changing the investment advisory industry where it matters most.


Learn More
Complex Claims & Litigation Forum 2025
February 24, 2025 - February 26, 2025
Las Vegas, NV

This conference aims to help insurers and litigators better manage complex claims and litigation.


Learn More
Go to Events Go to Webcasts
School Law Associate

We are seeking two attorneys with a minimum of two to three years of experience to join our prominent and thriving education law practice in...


Apply Now ›
Real Estate Litigation Associate - New York, NY

Description: Fox Rothschild has an opening in the New York office for a Real Estate Litigation Associate with three to six years of commerci...


Apply Now ›
Attorney - Insurance Defense

Downtown NY property and casualty defense law firm seeks a Litigation Associate with 3+ years' experience to become a part of our team! You ...


Apply Now ›
Go to Lawjobs