John L. THIEL and Kathryn M. Thiel, husband & wife, Plaintiffs,
v.
TAURUS DRILLING LIMITED 1980-II, a Colorado limited partnership; Nathan J. Emory; D.A. Davidson & Company, a Mont. corp.; Donald E. Metler; J. Joe Mena; John D. Pruit; Gayle S. Higbee; Jon Marchi; Joseph R. Soloman; and Robert W. Petersen, Defendants.
Supreme Court of Montana.https://leagle.com/images/logo.png
Submitted September 4, 1985.
Decided October 8, 1985.
As Amended on Denial of Rehearing December 23, 1985.
Attorney(s) appearing for the Case
Hendrickson & Everson, Jim Ragain argued, Billings, for plaintiffs.
Hooks & Budewitz, Patrick F. Hooks argued, Townsend, and Dorsey & Whitney, Edward J. Pluimer argued, Minneapolis, Minn., Stephen Bell, of Dorsey & Whitney, Great Falls, for D.A. Davidson, Jon Marchi, and Robert Peterson.
Anderson, Brown, Gerbase, Cebull & Jones, Steven J. Harman, Billings, Richard Vermiere, Head & Moye, Denver, Colo. and Hibbs, Sweeney, Colberg & Koessler, Maurice R. Colberg, Jr., Billings, for Taurus Drilling, Nathan Emory, Donald Metler, J. Joe Mena, John Pruit, Gayle Higbee, and Joseph Soloman.
Turner C. Graybill, Great Falls, amicus curiae, for plaintiffs in US Dist. Ct. Nos. CV-84-17-GF, CV-84-18-GF, CV-84-19-GF & CV-84-20-GF.
Michael Mulroney, Helena, amicus curiae, for plaintiffs in 47714, 47715, 47716 in L & C County Dist. Ct.
Thomas F. Dowling, Helena, amicus curiae, for plaintiffs in 50566, 50534 and CV-82-246-H.
J. Kim Schulke, Helena, G. Dalthorp and P. Habein, Billings, Charles Wake, Lewis, D'Amato, Brisbois & Bisgaard, Los Angeles, Cal., amicus curiae, for Donald Jackson, Kimble, MacMichael, Jackson & Upton.
Boone, Karlberg & Haddon, Sam E. Haddon, Missoula, amicus curiae, for Boettcher & Co., Dain Bosworth, Edward Jones & Co., Merrill Lynch, Pierce, Fenner & Smith & Piper, Jaffray & Hopwood, Inc.
Supreme Court of Montana.
WEBER, Justice.
The United States District Court for the District of Montana has certified the following question to this Court:
What statute or statutes of limitation apply to civil actions brought pursuant to § 30-10-307, MCA, of the Securities Act of Montana?
Based upon the pleadings in this case, we hold that the 8-year limitation period contained in § 27-2-202(1), MCA, applies.
On September 16, 1980, plaintiffs John L. Thiel...
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