Marion C. Cannon v. Johnson, Lane, Space, Smith & Company, Inc.

BUTZNER, Circuit Judge:

Johnson, Lane, Space, Smith & Company (Johnson) appeals from a judgment of the district court awarding damages to Marion C. Cannon for Johnson’s violation of the South Carolina Blue Sky Act’s registration requirement. S.C.Code § 35-1-810. Jurisdiction is based on diversity of citizenship. Liability and damages are stipulated. The sole issue on appeal is whether the district court properly decided that Cannon’s action was not barred by the statute of limitations. We affirm.

The securities in question were purchased in 1974. At that time the applicable statute of…