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CITY OF OWENSBORO v. FIRST U. S. CORP.

534 S.W.2d 789 (1975)

CITY OF OWENSBORO, Kentucky, et al., Appellants, v. FIRST U. S. CORPORATION et al., Appellees.

Court of Appeals of Kentucky.

October 31, 1975.

Attorney(s) appearing for the Case

Hugh D. Moore, Richard D. Gilliam, Jr., Gilliam & Moore, Owensboro, for appellants and cross appellees.

Wells T. Lovett, Lovett, Kusch & Wible, Owensboro, for appellees-cross appellants.

Kenneth N. Ragland, Calhoun, for appellee Bill F. Sutton.

Wilson, Wilson & Plain, Owensboro, for appellee Irby Seay d/b/a Irby Seay Engineers.

REED, Chief Justice.

The issue for decision is the proper statute of limitations applicable to a claim by a purchaser of securities against the seller that the sale was induced by actionable misrepresentation. The circuit court held that the two-year limitations section of the Kentucky Blue Sky Law, KRS 292.480(3), applied to the claim asserted and that the action was barred. We agree for the reasons later stated.

Appellants, plaintiffs in the court below...

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