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MAYFIELD v. TROUTMAN

No. 1421.

613 S.W.2d 339 (1981)

Bette J. MAYFIELD et al., Appellants, v. Forrest TROUTMAN et al., Appellees.

Court of Civil Appeals of Texas, Tyler.

Rehearing Denied March 26, 1981.

Attorney(s) appearing for the Case

Louis Frank Oliver, McGinnis, Lochridge & Kilgore, Richard Banks, J. Rowland Cook, Salmanson, Smith & Mouer, Austin, for appellants.

Malcolm Robinson, Hooper, Robinson & Moeller, Austin, for appellees.

McKAY, Justice.

This is an appeal from a directed verdict rendered in an action for fraud under the Texas Securities Act.

Appellants Mayfield, Schilthuis, Brooks and Friedman were four of our nine limited partners in a Texas limited partnership named "335, Ltd." (335). Pursuant to the antifraud provisions of the Texas Securities Act (Tex.Rev.Civ.Stat.Ann., art. 581-1 et seq.) (Securities Act), they seek damages or rescission in connection with the purchase...

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