ORDER GRANTING DEFENDANTS' MOTION FOR SUMMARY JUDGMENT
ALDON J. ANDERSON, Chief Judge.
Plaintiffs and defendants moved for summary judgment. Plaintiffs alleged two causes of action. First, that defendants violated section 12(1) of the Securities Act of 1933. Second, a pendent state claim, that the defendants violated section 25110 of the California Corporate Securities Law. Defendants assert that they are exempt from the proscriptions of the 1933 Act because...
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