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KIN-ARK CORP. v. BOYLES

No. 77-1457.

593 F.2d 361 (1979)

KIN-ARK CORPORATION, a Delaware Corporation, Plaintiff-Appellee, v. W. M. (Pat) BOYLES et al., Defendants-Appellants.

United States Court of Appeals, Tenth Circuit.

Decided March 1, 1979.

Rehearing Denied March 26, 1979.

Attorney(s) appearing for the Case

Thomas R. Brett, Jones, Givens, Brett, Gotcher, Doyle & Bogan, Inc., Tulsa, Okl., submitted on the brief for plaintiff-appellee.

Doerner, Stuart, Saunders, Daniel & Langenkamp, Stephanie K. Seymour, G. Michael Lewis, William H. Hinkle, Tulsa, Okl., submitted on the briefs for defendants-appellants.

Before SETH, Chief Judge, BREITENSTEIN, Circuit Judge and STANLEY, District Judge.

BREITENSTEIN, Circuit Judge.

The appeal in this diversity case presents two issues: (1) whether a promissory note is usurious under Texas law, and (2) whether misrepresentations and omissions in a stock-for-assets transaction violated § 10(b) of the Securities Exchange Act, 15 U.S.C. § 78j(b) and Rule 10b-5 of the Securities Exchange Commission, 17 C.F.R. § 240.10b(5). The district court, after a non-jury trial, held that the note was not usurious and...

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