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  5. 46 Cal.Rptr.3d 131 (2006)
 

SAGEHORN v. ENGLE

No. B188323.

46 Cal.Rptr.3d 131 (2006)

141 Cal.App.4th 452

Robert SAGEHORN, et al., Plaintiffs and Respondents, v. Michael R. ENGLE, Defendant and Appellant.

Court of Appeal of California, Second District, Division Four.

July 18, 2006.

Attorney(s) appearing for the Case

Proskauer & Rose and Robert H. Horn, Los Angeles, for Defendant and Appellant.

Scott E. Schutzman, Santa Ana, and Lee W. Chen, for Plaintiffs and Respondents.

Certified for Partial Publication.*

WILLHITE, J.

INTRODUCTION

This case involves a lawsuit based upon the Securities Act of 1933 (15 U.S.C. §§ 77a et seq.), hereafter referred to as the "1933 Act."1 Section 12(a)(1) of the 1933 Act creates civil liability for the sale of an unregistered security (§ 77l (a)(1).) The purchaser can sue the seller in either state or...

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