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TOBEY v. SUNDLING

No. 59987.

25 Ill. App.3d 205 (1974)

323 N.E.2d 30

WILLIAM R. TOBEY, JR., Plaintiff-Appellee, Cross-Appellant, v. WALTER R. SUNDLING et al., Defendants-Appellants, Cross-Appellees.

Appellate Court of Illinois — First District (5th Division).

December 13, 1974.

Attorney(s) appearing for the Case

William T. Hart and Allan Horwich, both of Schiff, Hardin & Waite, of Chicago, for appellants.

A. Denison Weaver, of Chicago, for appellee.

Reversed and remanded.

Mr. PRESIDING JUSTICE SULLIVAN delivered the opinion of the court:

Plaintiff brought a suit in equity to rescind stock sales and to recover the original purchase price plus interest and attorney's fees pursuant to the Illinois Securities Law of 1953 (the Act) (Ill. Rev. Stat. 1973, ch. 121 1/2, par. 137.1 et seq.), which makes certain sales of securities voidable at the option of the purchaser and creates a right of rescission...

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