Publication Date
1968
Abstract
THE decision of District Court Judge McLean in Escott v. Bar- Chris Construction Corp.' is a landmark decision. The case does not enunciate any new and startling legal concepts, for practitioners in the area of registration of publicly-held securities have been long aware of the potential statutory liabilities contained in section 11 of the Securities Act of 1933. But the text of section 11 was analogous to the book of a play that had not yet been read on stage. The hapless defendants in BarChris provided the cast, and a highly readable and well-reasoned opinion by Judge McLean breathed meaning and interpretation into the essential components of section 11 liability. For the first time, individuals involved in the public offering of securities have been given ascertainable guidelines as to the nature and form of activity which would best serve to insulate them from this heretofore relatively formless threat of civil liability. It is the purpose of this Commentary to examine these guidelines and their implications to attorneys practicing in the securities field.
Recommended Citation
Wyant, Dom H. and Smith, Robert W.
(1968)
"BarChris: A Revaluation of Prospectus Liability?,"
Georgia Law Review: Vol. 3:
No.
1, Article 8.
Available at:
https://digitalcommons.law.uga.edu/glr/vol3/iss1/8