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MATHERS FAMILY TRUST v. CAGLE

No. 10CA0093.

297 P.3d 943 (2011)

MATHERS FAMILY TRUST; William H. Mathers; Myra M. Mathers; Thomas E. Carpenter Trust; Margaret M. Carpenter Trust; Robert Hall; and Gianpaolo Callioni, Plaintiffs-Appellants, v. Charles Reed CAGLE; Joseph D. Kinlaw; Heartland Energy of Colorado, LLC; Steve Ziemke; Brandon Davis; John Schiffner; Joel Held; Martin Harper; HEI Resources, Inc., f/k/a Heartland Energy, Inc.; Heartland Energy Development Corp.; Reed Petroleum, LLC; D. Deerman, Ltd.; and R & J Associates, Inc., Defendants-Appellees.

Colorado Court of Appeals, Div. III.

As Modified on Denial of Rehearing June 16, 2011.

Attorney(s) appearing for the Case

Pryor Johnson Carney Karr Nixon, P.C., Irving G. Johnson , John R. Paddock, Jr. , Elizabeth C. Moran , Marta M. Jucha , Greenwood Village, Colorado, for Plaintiffs-Appellants.

Shoemaker Ghiselli + Schwartz LLC, Andrew R. Shoemaker , Paul H. Schwartz , Boulder, Colorado, for Defendants-Appellees Charles Reed Cagle, Heartland Energy of Colorado, LLC, HEI Resources, Inc., Reed Petroleum, LLC, and R & J Associates, Inc.

Robinson Waters & O'Dorisio, P.C., Otto K. Hilbert, II , Stephen L. Waters , Kimberly A. Bruetsch , Denver, Colorado, for Defendants-Appellees Joseph D. Kinlaw, John Schiffner, Heartland Energy Development Corp., and D. Deerman, Ltd.

Hogan Lovells US LLP, Jeffrey George , Colorado Springs, Colorado, for Defendant-Appellee Steve Ziemke.

The Tenenbaum Law Firm, A. Thomas Tenenbaum , Lone Tree, Colorado, for Defendant-Appellee Brandon Davis.

Davis Graham & Stubbs LLP, Thomas P. Johnson , Lydia Floyd , Terry R. Miller , Denver, Colorado, for Defendant-Appellee Joel Held.

Ireland Stapleton Pryor & Pascoe, PC, Mark E. Haynes , Denver, Colorado, for Defendant-Appellee Martin Harper.

Kamlet Reichert, LLP, E. Lee Reichert , Michelle E. Cormier , Denver, Colorado, for Amicus Curiae North American Securities Administrators Association, Inc.

Opinion by Justice ROVIRA.*

Plaintiffs, purchasers of investments sold by a Colorado company, appeal the dismissal of their claims against defendants, that company and others involved in the investments, based on the forum selection clauses in the parties' agreements requiring litigation in Texas. We reverse and remand.

I. Background

Plaintiffs are out-of-state investors who purchased joint venture interests sold by defendant...

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