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Home / Opinion Digests / Corporate – Closely Held Company – Va. Securities Act (access required)

Corporate – Closely Held Company – Va. Securities Act (access required)

A health club member who bought the club, a closely held corporation, based on financial information provided by the wife of one of the club owners, who kept the company books, can sue the sellers under the Virginia Securities Act for the alleged false information provided in the sellers’ financial report, the Virginia Supreme Court ...

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