The petitioner sold interests in a limited partnership for the purpose of acquiring and developing real estate to the sixteen respondents. On what the parties refer to as the "trade date", each respondent placed an order for an interest, and pursuant to the terms of the offering, subscribed thereto. Several days later, on the "settlement date", funds were debited from each of the respondents' accounts; Merrill Lynch also recorded this date as the purchase date on monthly...
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