Straley v. Universal Uranium & Milling Corp.

JERTBERG, Circuit Judge.

The sole question presented on this appeal is: may laches bar the recovery by the purchaser of the consideration paid for securities issued in violation of Title 15 U.S.C.A. § 77e, where the purchaser proves his claim under Title 15 U.S.C.A. § 77l(1), and has brought his action within one year from the date of the sale of such securities as required by Title 15 U.S.C.A. § 77m?

At the conclusion of the trial which followed pretrial conferences culminating in a pretrial order, the district court denied relief to appellants on the ground that laches barred them from…