Fed. Sec. L. Rep. P 97,937 Mary S. Krech Trust and Mark Marks, Mary S. Krech Trust v. The Lakes Apartments

FAY, Circuit Judge:

The first question we are asked to decide in this appeal is whether one can successfully plan and execute a private offering of a security by following the guidelines prepared by the Securities and Exchange Commission and our recent decision in Swenson v. Engelstad, 626 F.2d 421, (5th Cir., 1980). Answering that question in the affirmative, we move to the second inquiry, whether or not the evidence in the record of this case supports the jury’s conclusion that such a plan was completed as designed. Again we answer in the affirmative. 1 Recognizing the rigid requirements…