Goodman v. Kennedy

*339Opinion

WRIGHT, C. J.

Plaintiffs seek damages from defendant Kennedy, an attorney, for losses they incurred on certain shares of stock purchased from Kennedy’s clients, who were principal officers of the corporation issuing the stock. Plaintiffs allege that defendant1 negligently advised his clients that the shares in question could be issued to them as stock dividends and sold to third persons without jeopardizing the exemption from the requirement of registering the corporation’s stock under the Securities Act of 1933 (the Act) theretofore granted under Regulation A of the Securities and…