Blue Sky L. Rep. P 72,964 James E. Mark v. Fsc Securities Corporation

SIMPSON, District Judge.

This is an appeal from a jury’s determination that a limited-partnership interest appellants purchased was exempt from Ohio securities-registration requirements. We reverse and remand for further proceedings.

I

In 1984, IBC Arabian Investments, Inc., A.T. McColgan, Jr., and Laurence C. Leaf-er, (collectively “IBC”) as “General Partner,” issued for sale limited-partnership interests in Malaga Arabian Limited Partnership. The Malaga limited-partnership offering was one in a series of limited partnerships IBC issued to solicit investors in the then-lucrative Spanish Arabian…