Sagehorn v. Engle
California Court of Appeal
[CERTIFIED FOR PARTIAL PUBLICATION*]
1Opinion of the Court
Opinion
WILLHITE, J.
INTRODUCTION
This case involves a lawsuit based upon the Securities Act of 1933 (15 U.S.C. § 77a et seq.), hereafter referred to as the 1933 Act. Section 12(a)(1) of the 1933 Act creates civil liability for the sale of an unregistered security (§ 771(a)(1).) The purchaser can sue the seller in either state or federal court for rescission and recovery of the purchase price. Section 13 of the 1933 Act provides that the action is subject to a one-year statute of limitations that begins to run when the sale is made.
Here, three purchasers sued a seller of an unregistered…
2Cases cited30 opinions
- Holmberg v. ArmbrechtSupreme Court of the United States · 1946
- Pinter v. DahlSupreme Court of the United States · 1988
- Fed. Sec. L. Rep. P 96,366 Benjamin A. Cook v. Avien, Inc., James F. Pritchard, Benjamin A. Cook v. Avien, Inc.Court of Appeals for the First Circuit · 1978
- Judy Lehman, Wife Mark Lehman, Husband v. United States of America, Judy Lehman, Wife Mark Lehman, Husband v. United StatesCourt of Appeals for the Ninth Circuit · 1998
- Dyer v. Eastern Trust and Banking CompanyDistrict Court, D. Maine · 1971
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