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Alex And Cordeaux Kennette Case Summary

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Let me inform you about the result of negotiation between Alex and Lesie Ballentine and Cordeaux Gabelle, Inc. You have asked me to meet the Cordeaux Gabelle´s lawer and attempt to negotiate a settlement, but unfortunately I was not able to settle this matter. The legal issue of the case is whether section 11 and 12(a)(2) of the Securities Act is limited to public offerings or could be extended to all purchasers of securities in the secondary market. Cordeaux Gabelle is still claiming damages of 14.6m even though I argued that section 11 of Securities Act 1993 is not relevant in this case, because the company was sold privately and not by public offering. I supported my argument by Supreme Court ´s decision in Gustafson v. Alloyd Co.

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