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Moss & Barnett Lawyers Help Persuade Minnesota Supreme Court to Establish Clear Rules to Protect Investors

The Minnesota Supreme Court has taken a major step to preserve the rights of investors against sellers of unregistered securities by recently holding that (1) a seller of unregistered securities must actually prove that it qualifies for an exemption from Minnesota’s registration statute before federal law will preempt that statute and (2) two unregistered securities offerings may be integrated for purposes of enforcing SEC prohibitions on public solicitations even when there are no sales under one of the two offerings.  Peter Koller, Chair of Moss & Barnett’s Appeals and Motion Practice group, was retained by the investors to undertake final responsibility for preparation and submission of all of the briefs on appeal.  See Charles Risdall, et al. v. Brown‑Wilbert, Inc., et al. (PDF)

(August, 2008)