BREITENSTEIN, Circuit Judge.
In this action under the Securities Exchange Act of 1934, 15 U.S.C. § 78a et seq., the trial court held that venue lay in the District of Utah. We allowed an interlocutory appeal under 28 U.S.C. § 1292(b) and reverse.
Plaintiff-appellee Pratt met defendant-appellant Congleton in California and discussed with him the sale of stock in a company known as Newport. Congleton represented that he could dispose of the stock through...
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