McCarney v. Johanneson

VANDE WALLE, Justice.

Robert P. McCarney appealed from a summary judgment dismissing his action against Kent Johanneson and Richard D. Olson. We reverse.

McCarney seeks to recover $75,000, the price of the securities he purchased from Johanneson and Olson, plus costs and attorney fees. McCarney’s claim is that the sale to him was in violation of North Dakota’s Securities Act and he therefore may elect to avoid the sale.

The events which resulted in the sale to McCarney began when Johanneson was contacted about investing in the stock of a Nevada corporation, Emergency Medical Information, Inc.…