Lolkus v. Vander Wilt

This is a civil action at law under the Iowa Securities Law, chapter 502, 1962 Code of Iowa, commonly called the “Blue Sky Law.” Six plaintiffs, appellees herein, sought recovery of their purchase money paid for certificates of fractional interests in a Colorado mining venture referred to as Quickie Iron Mining Company. As the situation developed it appeared that the only thing quick about the mining company was the way in which the investors lost their money. The plaintiffs contended that the fractional interests were sold to them by the defendants-appellants in violation of the law. The…