McPherson v. Hewitt

The plaintiffs, H. William McPherson and Howard G. Read, filed an action in the circuit court of Du Page County alleging that John Hewitt violated the Illinois Securities Law of 1953 (Ill. Rev. Stat. 1989, ch. 12P/2, par. 137.1 et seq.), and committed common-law fraud in the sale of Valley Aviation Corporation 1 securities to them. In a bench trial the circuit court ruled in favor of plaintiffs on both counts and awarded them jointly $10,000, plus attorney fees of $2,000. Hewitt’s appeal presents three questions for review: (1) whether the plaintiffs are precluded from recovering under the…