Salazar v. Clancy Systems International, Inc.

Opinion by

Judge KAPELKE * .

Plaintiff, Francis R. Salazar, appeals from the trial court's summary judgment in favor of defendant, Claney Systems International, Inc. The judgment determined that plaintiff's tort claims relating to restrictive legends on stock certificates were preempted by state statute. We reverse and remand for further proceedings.

According to plaintiff's complaint, in May 1993, six million shares of defendant's stock were transferred to plaintiff by Robert B. Brodbeck through an "Agreement and Bill of Sale." Plaintiff alleges that at the time of the transfer he did not…