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VITERBI v. WASSERMAN

No. D055209.

191 Cal.App.4th 927 (2011)

AUDREY VITERBI et al., Plaintiffs and Appellants, v. GENEVA WASSERMAN, Defendant and Respondent.

Court of Appeals of California, Fourth District, Division One.

January 11, 2011.

Attorney(s) appearing for the Case

Frank E. Rogozienski, Inc., and Frank E. Rogozienski for Plaintiffs and Appellants.

Lawton Law Firm, Dan Lawton and Joseph C. Kracht for Defendant and Respondent.

OPINION

NARES, J.—

In this case we are presented with an issue of first impression in California: Does the remedy of rescission in a securities fraud claim brought under Corporations Code sections 25504 and 25504.11 require privity of contract between the plaintiff and defendant? In other words, can a purchaser of securities sue for rescission under sections 25504 and 25504.1, which provide for liability against...

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