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BROCKMANN INDUSTRIES v. CAROLINA SECURITIES CORP.

No. 88-2003.

861 F.2d 798 (1988)

BROCKMANN INDUSTRIES, INC. and Karin T. Brockmann, Plaintiffs-Appellants, v. CAROLINA SECURITIES CORP. and Mark A. Kronenfeld, Defendants-Appellees.

United States Court of Appeals, Fourth Circuit.

Decided November 21, 1988.

Attorney(s) appearing for the Case

William W. Nickerson, Robert L. Muse (Robert E. Freer, Barnett & Alagia, Washington, D.C., on brief), for plaintiffs-appellants.

William C. Cleveland (Theodore B. Guerard, Columbia, S.C., Van D. Hipp, Jr., Spartanburg, S.C., Haynsworth, Marion, McKay & Guerard, Columbia, S.C., on brief), for defendants-appellees.

Before POWELL, Associate Justice (Retired), United States Supreme Court, sitting by designation; WIDENER and HALL, Circuit Judges.

POWELL, Associate Justice:

This diversity case arises under the South Carolina Uniform Securities Act, S.C. Code Ann. §§ 35-1-10 to 35-1-1590 (Law Co-op. 1987). The question presented is whether a dissatisfied buyer of securities who accepts a statutory offer of rescission may subsequently bring suit for attorneys' fees incurred in seeking the rescission. Because we find no authority for such a suit under the Act, we affirm the district court's dismissal...

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