Bristow v. Mourot

David M. Glover, Judge.

The trial court, sitting as fact-finder, ruled that appellee Randy Mourot did not violate the Arkansas Securities Act and therefore owed no damages to appellants. We affirm.

In 1997, Mourot decided to sell his company, Mail Contractors of America. He asked several members of his management team, including appellants, to assist him with presentations for prospective buyers. In return, he promised them a “transaction bonus” equivalent to a year’s salary when the company sold.

After several presentations were made, Mourot decided to sell to Code, Hennessey, & Simmons, a…