Sale of a corporation

CORP. GOVERNANCE, CORPORATION & ENTERPRISE LAW, M&A, SECURITIES LAW
Murphy v. Stargate Defense Sys. Corp., No. 06-3980, 06-4034
In a suit seeking to rescind the sale of a corporation to another business as well as two earlier stock purchases, grant for plaintiffs of the right to rescind the stock purchases pursuant to Ohio’s Blue Sky Law but denial of any other relief is reversed in part as the district court erred in concluding that plaintiffs were not stock purchasers protected by Ohio’s Blue Sky Law.

Daily Opinion Summaries for U.S. 6th Circuit Court of Appeals – 08/10/07, www.findlaw.com