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REID v. NX CORP.

No. 55904.

11 Ill. App.3d 706 (1973)

297 N.E.2d 380

DONALD G. REID, Plaintiff-Appellant, v. NX CORPORATION f/k/a NUVEEN CORPORATION et al., Defendants-Appellees.

Appellate Court of Illinois — First District (2nd Division).

April 24, 1973.

Attorney(s) appearing for the Case

A. Denison Weaver, of Chicago, for appellees.

William T. Hart and Allan Horwich, both of Chicago, for appellant.

Judgment affirmed.

Mr. JUSTICE SCHWARTZ delivered the opinion of the court:

This action was brought to rescind the purchase of certain shares of stock acquired by plaintiff from the defendant corporation. Plaintiff bases his claim on provisions of Ill. Rev. Stat. 1967, ch. 121 1/2, pars. 137.1-137.19. The Act, known as The Illinois Security Law of 1953, provides for a rescission of the sale of certain securities where such sale is not registered with the Secretary...

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