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CRITICARE SYSTEMS, INC. v. SENTEK, INC.

No. 89-1636.

159 Wis.2d 639 (1990)

465 N.W.2d 216

CRITICARE SYSTEMS, INC., Plaintiff-Respondent-Cross Appellant, v. SENTEK, INC., Defendant-Appellant-Cross Respondent, Robert H. RICCIARDELLI, and Robert W. Sommer, Defendants-Cross Respondents.

Court of Appeals of Wisconsin.

Decided December 5, 1990.

Attorney(s) appearing for the Case

On behalf of the defendant-appellant-cross respondent, there were briefs by Charles P. Graupner and Paul F. Linn of Michael, Best & Friedrich of Milwaukee. There was oral argument by Charles P. Graupner.

On behalf of the plaintiff-respondent-cross appellant, there were briefs by Richard P. Carr and R. Timothy Muth of Reinhart, Boerner, Van Deuren, Norris & Rieselbach, S.C. of Milwaukee. There was oral argument by R. Timothy Muth.

On behalf of the State of Wisconsin, Commissioner of Securities, there was an amicus curiae brief by Walter H. White, Jr., Commissioner of Securities, and William C. Lloyd, Legal Services Division.

Before Nettesheim, P.J., Brown and Scott, JJ.

BROWN, J.

We hold that the remedy elected by Sentek, Inc., the victim of securities fraud in this case, bound the trial court to enforce sec. 551.59(7), Stats., upon Criticare Systems, Inc., the perpetrator of the fraud. Thus, because Sentek received recission and restitution rather than breach of contract damages, Criticare is prohibited by statute from itself seeking damages upon the contract. We also allow attorneys' fees and interest to Sentek.

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