holding Corporation Commission liable for rescission damages for misleading statements regarding regulation of insolvent corporation, which “induced” investors to purchase securities
How later courts described this case
- holding Corporation Commission liable for rescission damages for misleading statements regarding regulation of insolvent corporation, which “induced” investors to purchase securities
- ordinarily no individual cause of action based on breach of duty by public official
Written by the judges who cited it.
Later courts went against this
Overruled on other grounds by State v. Gunnison, 127 Ariz. 110 (1980)
(Davis), 123 Ariz. 324, 599 P.2d 777 (1979), overruled in part on other grounds by State v. Gunnison, 127 Ariz. 110, 618 P.2d 604 (1980).
The opinion
HOLOHAN, Justice
(specially concurring):
I concur in the result.
SUPPLEMENTAL OPINION
OPINION MODIFIED