Welch v. Barach

This appeal arises from a Superior Court action for private civil relief authorized by the Uniform Securities Act codified in Massachusetts as G. L. c. 110A, §§ 101-417 (securities act). In relevant part, the securities act enables the purchaser of a security to sue its offeror or seller for restitutional dam*114ages, reasonable attorney’s fees, and costs, if that offeror or seller has omitted a “material fact” from the information communicated to the purchaser in the explanation or inducement of the purchase. G. L. c. 110A, § 410(a)(2).3

The plaintiff, John F. Welch, Jr., appeals from summary…