Villeneuve v. Advanced Business Concepts Corp.

Mark Villeneuve instituted this action individually and on behalf of a class comprised of other area purchasers seeking recoupment of investments from the appellee, Advanced Business Concepts Corporation (ABC). The district court granted ABC’s motion for partial summary judgment finding that the purchaser agreements were not securities as defined by the Securities Act of 1933 and the Securities Exchange Act of 1934. A panel of this court affirmed the district court’s decision. Villeneuve v. Advanced Business Concepts Corp., 698 F.2d 1121 (11th Cir.1983).1 We granted rehearing en banc to…