Blue Sky L. Rep. P 71,536 A. B. Parvin, and Cross-Appellant v. Davis Oil Company, Jack Davis, Marvin Davis, and Paul Messinger, and Cross-Appellees

HUFSTEDLER, Circuit Judge:

Parvin sued Davis Oil Company (“DOC”) for damages arising from three investment contracts that Parvin contended violated both California and federal securities laws. The district court initially dismissed the action finding that (1) the oil and gas lease interests were not securities under either California or federal law, (2) the transactions did not involve sufficient contacts with California to permit application of California law, and (3) the transactions were private offerings exempted from the registration requirements of the Securities Act of 1933. We reversed…