Norden v. Friedman

I respectfully dissent.

Counts I and II are not based on a suit for rescission in the usual sense of the word, but rather are counts for money damages after tender back of the security pursuant to § 409.402 and § 409.411, RSMo 1986. These two counts are pleaded in almost the exact words of the securities law. Count III pleads common law fraudulent misrepresentations and does seek common law rescission.

Both Counts I and II state causes of action under the security law, because the three-fourths fractional interest in the oil and gas lease is a “security” under the Missouri Securities Act.

In…