Anvil Investment Ltd. Partnership v. Thornhill Condominiums, Ltd.
Appellate Court of Illinois
1Opinion of the CourtJustice Johnson
Plaintiffs brought this action pursuant to the Illinois Securities Law of 1953 (Ill. Rev. Stat. 1977, ch. 121 1/2, pars. 137.12, 137.13) and sections 12 and 17 of the Federal Securities Act of 1933 (15 U.S.C. §§77(1), 77(q) (1976)), to rescind their purchase of interests in a real estate limited partnership. Plaintiffs’ complaint alleged violations involving the misstatement and nondisclosure of material facts as well as failure to file a registration statement. The trial court, sitting without a jury, made a determination that defendants had violated provisions of the two statutes. The court…
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