EXHIBIT 5.1
[LETTERHEAD OF LOCKE LIDDELL & SAPP LLP]
November 20, 2000
Telescan, Inc.
5959 Corporate Drive, Suite 2000
Houston, Texas 77036
Gentlemen:
We have acted as counsel for Telescan, Inc., a Delaware corporation (the
"Company"), in connection with the registration, pursuant to a Registration
Statement on Form S-8 being filed with the Securities and Exchange Commission
(the "Registration Statement") under the Securities Act of 1933, as amended, of
the offering of up to 1,585,000 shares of the Company's common stock, par value
$.01 per share (the "Common Stock"), which may be issued under the Company's
Amended and Restated 1995 Stock Option Plan and 2000 Stock Option Plan (the
"Plans").
In such capacity, we have examined the corporate documents of the Company,
including its Restated Certificate of Incorporation and its Bylaws, each as
amended, and resolutions adopted by its board of directors and committees
thereof. We have also examined the Registration Statement, together with the
exhibits thereto, and such other documents which we have deemed necessary for
the purposes of the expressing the opinion contained herein. We have relied on
representations made by and certificates of the officers of the Company and
public officials with respect to certain facts material to our opinion. We have
made no independent investigation regarding such representations and
certificates.
Based upon the foregoing, we are of the opinion that the shares of Common
Stock, when issued pursuant to the provisions of the Plans, will be duly
authorized, validly issued, fully paid and nonassessable.
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement.
Very truly yours,
/S/ LOCKE LIDDELL & SAPP LLP
