Straley v. Universal Uranium and Milling Corporation

289 F.2d 370 William Thomas STRALEY, Ruth R. Straley and William Reynolds Straley, a minor, by William Thomas Straley, his guardian ad Litem, Appellants, v. UNIVERSAL URANIUM AND MILLING CORPORATION, a Nevada corporation, Kent Johnson, Louis Stillson, Elmer K. Agaard, Carl Fisher, Little Star Uranium Co., Inc., a Wyoming corporation, Anschutz Drilling Co., Inc., a Colorado corporation, Appellees. No. 16986. United States Court of Appeals Ninth Circuit. April 19, 1961. Greenbaum, Baker & Ancel, Mark G. Ancel, Los Angeles, Cal., for appellant. Horace J. Knowlton, Salt Lake City, Utah, for appellees. Robert W. Driscoll, San Marino, Cal., for corporate appellees. Before BARNES, JERTBERG and KOELSCH, Circuit Judges. JERTBERG, Circuit Judge. 1 The sole question presented on this appeal is: may laches bar the recovery by the purchaser of the consideration paid for securities issued in violation of Title 15 U.S.C.A. 77e, where the purchaser proves his claim under Title 15 U.S.C.A. 77l(1), and has brought his action within one year from the date of the sale of such securities as required by Title 15 U.S.C.A. 77m? 2 At the conclusion of the trial which followed pretrial conferences…