FOSTER v. JESUP AND LAMONT SECURITIES CO.

84-784-CER.

482 So.2d 1201 (1986)

J. Don FOSTER v. JESUP AND LAMONT SECURITIES CO., INC., a Corporation.

Supreme Court of Alabama.

January 10, 1986.


Attorney(s) appearing for the Case

W. Ramsey McKinney, Jr. of Hand, Arendall, Bedsole, Greaves & Johnston, Mobile, for appellant.

Lee H. Zell and Susan Salonimer of Berkowitz, Lefkovits, Isom & Kushner, Birmingham, McDaniel, Chorey & Taylor, Atlanta, Ga., for appellee.


SHORES, Justice.

Foster brought this securities action in the United States District Court for the Southern District of Alabama after he lost a $40,000 investment. After a jury verdict in his favor, the case was appealed to the United States Court of Appeals for the Eleventh Circuit. 759 F.2d 838 (1985). That court held that Jesup & Lamont was not a "seller" under § 12(2) of the Securities Act of 1933, 15 U.S.C.A. §...

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