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CHAPMAN v. DUNN

No. 18825.

414 F.2d 153 (1969)

Bernard A. CHAPMAN, Anna Chapman, Joseph C. Kalman, Thomas L. Lowery, Jr., Dale H. Burgess, Leonard G. Burgess, Johanna Adamson, and Ralph Isbrandt, Plaintiffs-Appellees, v. James B. DUNN, Receiver for Ohio East Producers, Defendant-Appellant.

United States Court of Appeals Sixth Circuit.

July 9, 1969.

Attorney(s) appearing for the Case

William E. Speer, Detroit, Mich., for appellant.

C. Richard Abbott, Detroit, Mich., for appellees; Robert L. Heritier, John R. Nicholson, Detroit, Mich., on brief.

Philip A. Loomis, Jr., Gen. Counsel, Walter P. North, Associate Gen. Counsel, Jacob H. Stillman, Asst. Gen. Counsel, David J. Hensler, Atty., S. E. C., Washington, D. C., on brief as amicus curiae for Securities and Exchange Commission.

Before WEICK, Chief Judge, PHILLIPS, Circuit Judge, and McALLISTER, Senior Circuit Judge.

PHILLIPS, Circuit Judge.

This is an action under the Securities and Exchange Act of 1933 for the rescission of sales of unregistered securities. Plaintiffs-appellees (the investors) sued the issuer to recover the consideration paid for fractional undivided interests in oil and gas leases.

On cross-motions for summary judgment District Judge Fred W. Kaess concluded that there was no dispute as to any material fact and granted summary judgment in favor of the...

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