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FLANNERY v. CARROLL

No. 81-1124.

676 F.2d 126 (1982)

Horace FLANNERY, et al., Plaintiffs-Appellants, v. Art CARROLL, d/b/a Hemisphere Petroleum and Ben Schultz, Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

May 17, 1982.

Attorney(s) appearing for the Case

Strother, Davis & Hill, Roger J. Allen, Gerald R. Velarde, Dallas, Tex., for plaintiffs-appellants.

John E. Collins, Bonnie Wulff, Irving, Tex., for defendants-appellees.

Before DYER, SAM D. JOHNSON, and WILLIAMS, Circuit Judges.

JERRE S. WILLIAMS, Circuit Judge:

This action arises out of the defendant's sale to plaintiffs of a fractional undivided working interest in an oil and gas lease. Plaintiffs alleged that defendant made untrue statements or omitted material facts concerning the interest to induce them to make the purchase in violation of the Securities Act of 1933, 15 U.S.C. § 77l(2); the Texas Securities Act, Tex.Rev.Civ.Stat.Ann. art. 581-33; and Ohio securities laws...

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