Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, January 18, 2007

Ohio Appellate Court Decision on Jurisdiction, Preemption

For those interested in state securities law, the Ohio appellate court recently (12/26/06) issued an opinion dealing with a private offering, purportedly under SEC Rule 506, that used a website to solicit offerees.  The court held that (1) state did not have jurisdiction over certain defendants  where the only contact with the state was a passive website; and (2) state regulation was not preempted simply because the offering was purportedly made under Rule 506.  On the latter issue, the court declined to follow a federal court decision (Temple v. Gorman) to the contrary.  See In re Blue Flame Energy Corp., 2006 WL 3775856(Oh. App. 12/26/06)

Judicial Opinions, State Securities Law | Permalink

TrackBack URL for this entry:

Listed below are links to weblogs that reference Ohio Appellate Court Decision on Jurisdiction, Preemption:


Post a comment