Legal Opinion
Klein v. Oppenheimer & Co.
Supreme Court of Kansas
Decided March 24, 2006No. 91,778PublishedCited by 14 opinions
1Opinion of the Court
The opinion of the court was delivered by
ALLEGRUCCI, J.;
The principal issue in this case is the liability of a clearing broker for the sale of unregistered securities under the Kansas Securities Act. It is an issue of first impression.
Roger Klein had a brokerage account with L.T. Lawrence. L.T. Lawrence, functioning as an originating or introducing broker, sold unregistered securities through Oppenheimer & Co., Inc. (Oppenheimer), a clearing broker, to Klein. The sale of nonexempt, unregistered securities is prohibited by K.S.A. 17-1255. Klein sued Oppenheimer under K.S.A. 17-1268(a) and (b)…
2Cases cited34 opinions
- Pinter v. DahlSupreme Court of the United States · 1988
- Haberman v. Washington Public Power Supply SystemWashington Supreme Court · 1988
- Bernard A. Schlifke and Harvey Kallick, D/B/A K & S Investments Co., a Partnership v. Seafirst Corp. And Seattle-First National BankCourt of Appeals for the First Circuit · 1989
- Fed. Sec. L. Rep. P 97,567 Edmond G. Pharo v. W. L. SmithCourt of Appeals for the Fifth Circuit · 1980
- Royal American Managers, Incorporated v. Irc Holding Corporation and Joseph Ambriano, Cross-Appellants, Gerald Dolman, Cross-AppelleeCourt of Appeals for the Second Circuit · 1989
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3Cited by14 opinions
- Double M Construction, Inc. v. State Corp. CommissionSupreme Court of Kansas · 2009
- Adams v. Board of Sedgwick County CommissionersSupreme Court of Kansas · 2009
- Adams v. BOARD OF SEDGWICK COUNTY COM'RSSupreme Court of Kansas · 2009
- Troutman v. CurtisSupreme Court of Kansas · 2008
- Paul Bennett v. Hunter DurhamCourt of Appeals for the Sixth Circuit · 2012
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