SETH, Circuit Judge.
This action was commenced under section 12(1) of the Securities Act of 1933 by some of the purchasers of stock of a corporation, known as Wun Drop Company, to rescind the sales for the reason that the shares were unregistered and sold in violation of section 5 of the Securities Act of 1933 (15 U.S.C. § 77e).
The record shows that the defendant Hirschfeld was the owner or in control of all the issued shares of stock of the defendant...
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