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TheStreet Open House

Federal Court Dismisses Lawsuit Against Businessman Brent Coralli

DALLAS, Feb. 13, 2013 /PRNewswire/ -- Judge Sam Lindsay of the U.S. District Court for the Northern District of Texas in Dallas has dismissed a lawsuit against local businessman Brent Coralli and related business entities after finding there was not enough evidence to support a series of allegations filed by Texas resident Lee Purser.

In the ruling, Judge Lindsay determined there was insufficient evidence to support Mr. Purser's claims accusing Mr. Coralli of violating U.S. securities laws. Mr. Purser filed the lawsuit in November 2011, alleging that he was defrauded of more than $200,000 in a business investment related to a mobile lottery business based in Peru.

In the ruling, the judge found that "at best, Purser raises the mere possibility of wrongdoing by Defendants, however, when the allegations of the pleadings do not permit the court to infer more than the mere possibility of wrongdoing, they fall short of showing that Purser is entitled to relief."

In finding that Mr. Purser's allegations against Mr. Coralli failed to state a claim, Judge Lindsay dismissed the federal securities claim with prejudice. The judge declined to exercise supplemental jurisdiction over Mr. Purser's state court claims for fraud and breach of contract, and dismissed those claims without prejudice. The final judgment also orders Mr. Purser to pay all related court costs.

"We are gratified that the Court recognized that there was nothing to support Mr. Purser's claims," says Mr. Coralli.

The case is Civil Action No. 3:11-CV-03295-L, filed in the U.S. District Court for the Northern District of Texas.

For more information, please contact Barry Pound at 214-559-4630 or barry@androvett.com .

SOURCE Brent Coralli

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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