Fifth Circuit affirms dismissal of securities fraud lawsuit against Brett Favre arising out of sports media company bankruptcy

Feb 15, 2022

Brett Favre and others connected to a bankrupt digital sports media company remain free of securities claims after the Fifth Circuit ruled a lower court was right to throw out the case.

Callais Capital Management LLC, which invested more than $16 million in Sqor, accuses the retired NFL player and other company directors and officers of securities fraud. But CCM’s arguments on appeal are “largely duplicative” of those rejected below, and they fail for “substantially the same reasons,” the U.S. Court of Appeals for the Fifth Circuit said in an unpublished opinion.

Source: Bloomberg Law
(Photo by David Paul Morris/Bloomberg)