Gordon Venters v. Paul James Holding, LLC

Summary

The Third District Court of Appeal of Florida affirmed the circuit court’s judgment in favor of Paul James Holding, LLC. The court cited section 517.211(1), Florida Statutes, and precedent concerning joint and several liability and rescission or damages arising from the sale of unregistered securities.

Holdings

1. Persons making the sale of an unregistered security, and directors, officers, partners, or agents who personally participated in or aided the sale, are jointly and severally liable to the purchaser under section 517.211(1), Florida Statutes, for rescission if the purchaser still owns the security or for damages if the purchaser has sold it.

Questions Presented

1. Whether the circuit court's judgment should be affirmed in light of section 517.211(1), Florida Statutes, governing liability for sales of unregistered securities.

Disposition

affirmed