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CAPITAL SECURITIES OF AMERICA v. GRIFFIN

No. 10SC779.

278 P.3d 342 (2012)

2012 CO 39

CAPITAL SECURITIES OF AMERICA, INC.; Jerry Manning; and Adam Alves, Petitioners v. Faye GRIFFIN, in her official capacity as Treasurer of Jefferson County, and Board of County Commissioners of the County of Jefferson, Respondents.

Supreme Court of Colorado, En Banc.

Rehearing Denied June 18, 2012.

Attorney(s) appearing for the Case

Snell & Wilmer L.L.P., Scott C. Sandberg , Jessica E. Yates , Denver, Colorado, Attorneys for Petitioners.

Ellen G. Wakeman , Jefferson County Attorney, Patricia Gilbert , Assistant County Attorney, Eric T. Butler , Assistant County Attorney, James L. Burgess , Assistant County Attorney, Golden, Colorado, Attorneys for Respondents.

Justice EID delivered the Opinion of the Court.

¶ 1 In 2006, Jefferson County purchased securities through Capital Securities, Inc., Jerry Manning, and Adam Alves (collectively, "Capital Securities"), a purchase the county later determined was unlawful under section 24-75-601.1, C.R.S. (2008). The county sued Capital Securities and, among other things, sought to disgorge the commissions earned by Capital Securities under a theory of common law restitution. Both...

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