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EXETER BANCORPORATION v. KEMPER SECURITIES GROUP

No. 94-1996.

58 F.3d 1306 (1995)

EXETER BANCORPORATION, INC., a Minnesota corporation, Plaintiff-Appellant, v. KEMPER SECURITIES GROUP, INC., a Delaware corporation, doing business as Blunt Ellis & Loewi, Inc., a division of Kemper Securities Group, Inc., Defendant-Appellee.

United States Court of Appeals, Eighth Circuit.

Decided July 3, 1995.

Attorney(s) appearing for the Case

Thomas P. Kane, St. Paul, MN, argued (William M. Tuttle, on the brief), for appellant.

Richard G. Mark, Minneapolis, MN, argued (Charles B. Rogers and Janel E. Laboda, on the brief), for appellee.

Before BEAM, Circuit Judge, CAMPBELL, Senior Circuit Judge, and MORRIS S. ARNOLD, Circuit Judge.

LEVIN H. CAMPBELL, Senior Circuit Judge.

On December 15, 1991, Exeter Bancorporation, Inc. ("Exeter"), an investment firm, brought this action in the district court against Blunt Ellis & Loewi ("BEL"), a division of Kemper Securities Group, Inc. ("Kemper").1 Exeter and BEL had entered into a contract under which BEL agreed to help Exeter raise more than $4 million in capital. After the attempt to raise the capital

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