Alfred G. McConnell and Alexander H. McConnell D/B/A Odessa Petroleum Development v. Michael Surak and Randall Lane, D/B/A S & L Oil Company

FLAUM, Circuit Judge.

This appeal stems from a diversity action filed by the plaintiffs, an Illinois partnership and its partners, against the defendant, an Indiana partnership and its partners, to rescind the plaintiffs’ purchase of certain oil securities from the defendants. The plaintiffs claimed damages under both federal and state securities laws. The district court, 593 F.Supp. 1096, granted the plaintiffs’ motion for summary judgment and awarded $106,007.22 in damages. We affirm.

I

The plaintiffs Alfred G. McConnell and Alexander H. McConnell are partners in plaintiff Odessa Petroleum…