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BULTMAN v. BISHOP

No. 5-83-0189.

120 Ill. App.3d 138 (1983)

457 N.E.2d 994

NORMAN BULTMAN et al., Plaintiffs-Appellants, v. MELVIN BISHOP et al., Defendants-Appellees — (Emert Wyss, Jr., Plaintiff-Appellant, v. Melvin Bishop et al., Defendants-Appellees).

Appellate Court of Illinois — Fifth District.

Rehearing denied January 13, 1984.

Attorney(s) appearing for the Case

Joseph R. Brown, Jr., of Mudge, Riley and Lucco, of Edwardsville, for appellants.

Irving M. Wiseman, of Wiseman, Shaikewitz, McGiver and Wahl, P.C., of Alton, for appellee Irving M. Wiseman.

Pope and Driemeyer, of Belleville (Thomas F. Hennessey III, of counsel), for appellee Melvin Bishop.

Reversed and remanded.

JUSTICE KARNS delivered the opinion of the court:

Appellants, purchasers of securities, appeal from the March 10, 1983, judgment of the circuit court of Madison County granting the sellers motions for summary judgment after appellants sought to avoid the sale of securities as provided in the Illinois Securities Law of 1953. Ill. Rev. Stat. 1979, ch. 121 1/2, par. 137.13.

In 1978, appellant Bultman and others purchased $80,000...

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