Defendant, Chairman of the Board and Chief Executive Officer of Skysat Communications Network Corporation (Skysat), a start-up corporation engaged in developing new communications technology, induced plaintiff, his neighbor, to purchase stock in the company in February 1994, prior to a contemplated initial public offering (IPO) of Skysat's stock. The purpose was to provide a portion of the bridge financing for Skysat until completion of the IPO. Plaintiff was further told...
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