6th Circ. Says Attys Aren't Liable For Bad Stock Sales

Law360, New York (June 28, 2012, 4:41 PM EDT) -- The Sixth Circuit on Thursday found that attorneys who provide legal services in connection with securities sales cannot be held liable under the Kentucky Securities Act, letting off the hook an attorney who represented two now-bankrupt energy companies and was targeted after an alleged $14 million fraud.

The court found that the KSA does not impose liability on attorneys who perform traditional legal services for companies selling their securities to the public, upholding two lower court decisions allowing Hunter Durham of Durham & Zornes to escape...
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