Pino v. Cardone Capital, LLC, No. 21-55564, 2022 U.S. App. LEXIS 35278 (9th Cir. Dec. 21, 2022)
Section 12(a)(2) of the Securities Act (15 USC 77l(a)(2)) imposes liability on any person who offers or sells a security by means of untrue statements or concealments. In Pinter v. Dahl, 486 U.S. 622, 643, 647-48 (1988), the Supreme Court held that a person may be liable as a “seller” under the predecessor version of § 12(a) if the person… Read More