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Securities and Exchange Commission v. McDonald Investment Co.
United States District Court for the District of Minnesota
343 F.Supp. 343 (1972)
McDonald Investment Co. (McDonald) (defendant) is a firm located only in Minnesota that made a stock offering available only to residents of Minnesota. The purpose of the stock offering was to invest in real property in Arizona. The Securities and Exchange Commission (plaintiff) brought suit against McDonald for failure to register as required under the Securities Act of 1933. McDonald argued that it was not required to register since the offering was limited only to Minnesota residents.
Rule of Law
Holding and Reasoning (Neville, J.)
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