Fred P. KREIS, Jr., Appellant, v. MATES INVESTMENT FUND, INC., and Frederick S. Mates, Appellees

The matter before us is an action for rescission. The plaintiff, Fred P. Kreis, Jr. (hereafter “Kreis”), a citizen and resident of Missouri, bought shares of the defendant Mates Investment Fund, Inc. (hereafter, the “Fund”) by mail, relying upon a glowing account thereof published in Barron’s National Business and Financial Weekly in the issue dated June 3, 1968. 1 Eventually Kreis became unhappy with his purchase. Hence this action.

The ground of rescission asserted was non-compliance by the Fund with the registration provisions of the Missouri Uniform Securities Act, Chapter 409, RS Mo.1969…