Smith v. Manausa

MEMORANDUM

SWINFORD, District Judge.

This action seeks recovery of amounts expended and profits lost as a result of the defendants’ alleged noncompliance with federal and state securities and corporate legislation. Securities Act of 1933, 15 U.S.C. § 77a, et seq.; Securities Exchange Act of 1934, 15 U.S.C. § 78a et seq; KRS Chapters 271 and 292. Trial was held on May 6-9, 1974, and the parties accorded an opportunity for the submission of briefs. The record is now before the court for decision.

Although presenting complex questions of law, the facts of the case are uncomplicated and largely…