Investors Recover $81,500 On Claims
Securities – Sale Of Unregistered Securities – Limitations, “Seller” Issues – Jury Verdict – $81,500 Post-Judgment Settlement
Type of Action: Sale of unregistered securities
Injuries Alleged: Investment losses
Name of Case: Campbell and Riley v. Russell
Case No.: 2002 CvS 599
Tried Before: Jury (case settled post-judgment)
Name of Judge: Charles Lamm Jr.
Special Damages: N/A
Verdict Date: Feb. 19, 2004
Plaintiff’s attorneys: George Francisco, Winston Salem
Person Submitting: George Francisco
Description: The defendant claimed he was not a “seller” under the N.C. Securities Act, but only received referral fees for prospects. The issues included (1) statute of limitations — when plaintiffs should have known the investments were securities; (2) whether defendant was a “seller” of securities; (3) whether defendant should have known the investments were securities; and (4) the amount of damages. The judgment exceeded $100,000, including attorney’s fees and interest. The case settled post judgment.
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