James C. Sell v. Hon. gama/squire & Company

OPINION

PELANDER, Justice.

¶ 1 We granted review to determine whether the Arizona Securities Act (“ASA”), A.R.S. §§ 44-1801 to -2126, authorizes a cause of action for secondary liability based on aiding and abetting others’ primary securities fraud. More than three decades ago, based on federal case law that has since changed, we recognized such aiding and abetting claims. State v. Superior Court (Davis), 123 Ariz. 324, 599 P.2d 777 (1979), overruled in part on other grounds by State v. Gunnison, 127 Ariz. 110, 618 P.2d 604 (1980). But in light of Central Bank of Denver v. First Interstate Bank…