Lefebvre v. Homer M. Whittier & Co.

The plaintiff’s action, so far as disclosed by the record and arguments, is based solely upon the claim that the sale to him was made in violation of P. L., c. 284. Sections 1 to 26 thereof provide for the annual registration with the state insurance commissioner of dealers in corporate securities, and forbid sales by unregistered dealers. Sections 26 to 28 authorize the commissioner to prohibit the sale by such dealers of any security which, upon investigation, he finds to be of such a character, or so insufficiently presented, as likely to impose upon intending purchasers. Section 38…