Gilford Partners v. Pizitz

The plaintiffs — Richard Pizitz, Merritt Pizitz, Jill Pizitz, Richard Pizitz, Jr., and Susan Pizitz Bosshard — sued the defendants — Gilford Partners, H. Robert Holmes, Holmes-Gilford General Partners, and Gilbrooke Associates, Inc. — alleging various violations of the Alabama Securities Act, §§ 8-6-1 through -33, Ala. Code 1975, arising out of the sale of an unregistered security to the plaintiffs' partnership, Pizitz Family Investment Partnership IX (hereinafter the "Pizitz Partnership").1 The plaintiffs alleged (1) that the defendants had failed to register the limited partnership interest…