Heligman v. Otto

Defendants,' Richard Otto, doing business as Riverland Equities, and Dennis M. Hayes, appeal by leave granted from a circuit court order affirming a district court’s grant of summary judgment to plaintiff, Richard Heligman. The district court found that Otto and Hayes had failed to register under the Uniform Securities Act, MCL 451.501 et seq.; MSA 19.776(101) et seq., as a securities broker-dealer and a securities agent, respectively, as required by MCL 451.601; MSA 19.776(201), and were therefore liable to plaintiff under MCL 451.810(a); MSA 19.776 (410)(a) for certain losses incurred in…