The Johns Hopkins University v. William E. Hutton

BUTZNER, Circuit Judge:

Johns Hopkins University brought this action against the partners of W. E. Hutton & Co., a stock brokerage firm, to rescind Hopkins’ purchase of an oil and gas production payment from Trice Production Co. After extensive pretrial litigation, the district court (Kaufman, J.) granted Hopkins’ motion for summary judgment on the ground that Hutton’s employee, Gilbert H. LaPiere, had violated Section 12(2) of the Securities Act of 1933. 1 Johns Hopkins University v. Hutton, 297 F.Supp. 1165 (D.Md.1968). We hold genuine issues of material fact preclude the entry of summary…