Dehler v. Setliff

Nichols, Chief Justice.

Appellants filed suit against Golden Age Retirement, Inc. and two of its officers, Setliff and Williams, seeking to recover the purchase price of certain securities allegedly issued by Golden Age in violation of the Georgia Securities Act and purchased in reliance on *20false representations as to the company’s financial condition. They also sought to set aside an order of the Commissioner of Securities exempting the securities from registration and to set aside a default judgment obtained by defendant Williams against the corporation in a suit for back salary.

The trial…