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ANDERSON v. GRAND BAHAMA DEVELOPMENT CO.

No. 77-657.

67 Ill. App.3d 687 (1978)

384 N.E.2d 981

CLARENCE A. ANDERSON et al., Plaintiffs-Appellants, v. THE GRAND BAHAMA DEVELOPMENT COMPANY, LTD., et al., Defendants-Appellees.

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

Rehearing denied January 25, 1979.

Attorney(s) appearing for the Case

William J. Harte, Edward T. Joyce, James P. Chapman, and Martha M. Jenkins, all of Chicago, for appellants.

Baker & McKenzie, of Chicago (Francis D. Morrissey, Thomas F. Bridgman, Peter J. Mone, and James T. Hitch, III, of counsel), for appellees.

Reversed and remanded.

Mr. JUSTICE WILSON delivered the opinion of the court:

Plaintiffs, purchasers of unimproved real property in Lucaya, Grand Bahama Island, appeal the trial court's dismissal of three counts of their four-count complaint for failure to state a cause of action under either the Illinois Securities Law of 1953 (Ill. Rev. Stat. 1975, ch. 121 1/2, par. 137.1 et seq.) or under the Securities Act of 1933 (15 U.S.C. § 77a et seq...

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