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DeBRY v. TRANSAMERICA CORP.

No. 77-1894.

601 F.2d 480 (1979)

James DeBRY, Robert J. DeBry and Lynn M. Hilton, Plaintiffs-Appellants, v. TRANSAMERICA CORPORATION, Defendant-Appellee.

United States Court of Appeals, Tenth Circuit.

Decided May 31, 1979.

Attorney(s) appearing for the Case

Adam M. Duncan, Salt Lake City, Utah (Ralph R. Mabey and Alan L. Smith, Salt Lake City, Utah, on brief), for plaintiffs-appellants.

Dennis McCarthy of Van Cott, Bagley, Cornwall & McCarthy, Salt Lake City, Utah (Robert M. Anderson and Robert K. Rogers of Van Cott, Bagley, Cornwall & McCarthy, Salt Lake City, Utah, on brief), for defendant-appellee.

Before DOYLE, McKAY and LOGAN, Circuit Judges.

WILLIAM E. DOYLE, Circuit Judge.

I.

PRELIMINARY STATEMENT

This action was filed by the plaintiffs-appellants against Transamerica Corporation seeking damages for alleged fraud involving an exchange of stock transaction. Plaintiffs transferred their stock in a travel organization, Foreign Study League, Inc., to Transamerica, the defendant. They received 221,273 shares of Transamerica stock, which was unregistered in exchange for all of their travel...

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