Parrish v. Ben-Jon Oil Co.

HUNTER, Judge:

In this case, the appellees filed an action against appellant corporation and appellant Ericsson, along with other individuals not named on appeal, seeking rescissionary damages for the sale of securities not registered under the Oklahoma Securities Act as required by 71 O.S.1981 § 301. The appellants, at trial and now on appeal, contend that the sale of the securities here was exempt from registration due to the exemption enumerated in either § 401(b)(9)(A) or § 401(b)(15) of title 71 of the Oklahoma Statutes. In awarding judgment for the appellees, the trial court, as the…