OPINION
POWELL, Associate Justice:
At issue in this appeal is whether the district court properly dismissed, on summary judgment, federal and state securities claims brought by Edward Howard against his former golfing partner, Said Haddad. As we conclude that the federal claim is time-barred and that Howard failed to establish a prima facie case under the Virginia Securities Act, we affirm.
I
Howard met Haddad during a plane trip in 1967...
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