Paul KAMEN et al., Plaintiffs and Appellants,
v.
Dale R. LINDLY et al., Defendants and Respondents.
Court of Appeals of California, Sixth District.https://leagle.com/images/logo.png
December 5, 2001.
Review Denied March 13, 2002.
Attorney(s) appearing for the Case
William S. Lerach, William S. Dato, Tor Gronborg, Milberg Weiss Bershad Hynes & Lerach, San Diego, Robert M. Roseman, Spector, Roseman & Kodroff, Philadelphia, PA, for Plaintiffs.
Dale E. Barnes, Jr., Karen L. Kennard, Jennifer L. Jonak, McCutchen, Doyle, Brown & Enersen, San Francisco, for Respondent Deloitte & Touche.
Terry T. Johnson, Rebecca A. Mitchells, Kent W. Easter, Wilson, Sonsini, Goodrich & Rosati, Palo Alto, for Respondent Harry L. Dickinson.
Walter J. Robinson, Charles R. Ragan, Palo Alto, Kevin M. Fong, San Francisco, Theodore K. Bell, Palo Alto, Pillsbury, Winthrop, for Respondents Dale Lindly, et al.
Court of Appeals of California, Sixth District.
MIHARA, J.
At issue in this action is the applicability of Corporations Code1 sections 25400 and 25500 to defendants who did not both 1) sell and/or offer to sell, or buy and/or offer to buy securities, and 2) make misleading statements for the purpose of inducing the purchase or sale of a security. We hold that a defendant must have engaged in both activities in order to be liable under...
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