EMH Scores Major Victories

The first case was a purported class action alleging that the various defendants failed to disclose the unlawful treatment of human remains and burial sites at two cemeteries in Florida.  The case -- styled Conley Investment Counsel v. Service Corporation International, et al. -- resulted from the transfer and consolidation by the Judicial Panel on Multidistrict Litigation of three lawsuits filed in Nevada and Florida.  SCI asked the trial court to dismiss the case for failure to state a claim.  In an August 31, 2010, opinion, United States District Court Judge Lynn N. Hughes dismissed the case, noting that "All loss is not fraud."  The Court's opinion can be found here.

The second case was brought by a Georgia man who sold his funeral home to SCI for $800,000 in cash and $1.2 million in SCI stock.  Shortly after the sale, SCI's stock tumbled on less than expected earnings.  The Plaintiff alleged that SCI misrepresented its financial condition in filings before the Securities and Exchange Commission.  SCI moved to dismiss the case for failure to state a claim and Judge Hughes agreed:  Plaintiff "failed to identify a material misleading statement or omission on which he relied in the SEC filings. He will take nothing against Service Corporation International and its directors."  The Court's opinion can be found here.

Firm partner Andrew Edison represented SCI, along with J. Clifford Gunter III of Bracewell & Giuliani LLP.