Cowles v. Dow Keith Oil & Gas, Inc.

The question in this case is straightforward. Is there sufficient evidence in the record to establish that defendants, sellers of securities who claim an exemption from securities registration requirements under 71 Okla.Stat.Ann. § 401(b)(15), have carried their burden of proving that each and every investor was capable of evaluating the risk of the investment and'that each and every investor was capable of bearing the economic risk of the investment? The evidence offered on this point consisted exclusively of Mr. Keith’s testimony that all the investors initially contacted him, on the advice…