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RAIFORD v. BUSLEASE, INC.

Nos. 86-8514, 86-8515.

825 F.2d 351 (1987)

Bernice Barbour RAIFORD, Plaintiff-Appellant, v. BUSLEASE, INC., Merrill Lynch, Pierce, Fenner & Smith, Inc., and Thomas F. Morris, Defendants-Appellees. Morgan B. RAIFORD, Plaintiff-Appellant, v. BUSLEASE, INC., Merrill Lynch, Pierce, Fenner & Smith, Inc., and Thomas F. Morris, Defendants-Appellees.

United States Court of Appeals, Eleventh Circuit.

August 24, 1987.

Attorney(s) appearing for the Case

James A. Parker, Atlanta, Ga., for plaintiff-appellant.

Paul W. Stivers, Rogers & Hardin, Atlanta, Ga., for defendants-appellees.

Before HILL and HATCHETT, Circuit Judges, and HENDERSON, Senior Circuit Judge.

HENDERSON, Senior Circuit Judge:

Dr. and Mrs. Morgan B. Raiford brought separate suits in the United States District Court for the Northern District of Georgia alleging, among other causes of action, that the defendants violated § 5 of the Securities Act of 1933, 15 U.S.C. § 77e, by selling securities for which a registration statement was not in effect. The plaintiffs sought rescission of their purchase and recovery of the consideration paid to the defendants...

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